Exhibit 10.3 2001 Option Agreements
OPTION AGREEMENT
THIS AGREEMENT is entered into this 8th day of January, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxx Xxxxxxx
("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Nevada;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire five hundred
thousand (500,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after January 8, 2001;
2. The price per each share to be acquired under this option shall be fifty
three cents ($0.53);
3. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) January 8, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on January 8, 2001.
------------------------------ ------------------------------
Xxxx Xxxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
71
OPTION AGREEMENT
THIS AGREEMENT is entered into this 28th day of June, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxxxx
Xxxxxxx ("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Nevada;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire one hundred
thousand (100,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after June 28, 2001;
2. The price per each share to be acquired under this option shall be forty
nine cents ($0.49); 3. This option is exercisable by delivery to the
Company of a bankers draft or similar negotiable instrument in US funds,
for the number of shares optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) June 28, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on June 28, 2001.
------------------------------ ------------------------------
Xxxxxxx Xxxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
72
OPTION AGREEMENT
THIS AGREEMENT is entered into this 28th day of June, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and J. Xxxxxx
Xxxxx ("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of New York;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire one hundred
thousand (100,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after June 28, 2001;
2. The price per each share to be acquired under this option shall be forty
nine cents ($0.49);
3. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) June 28, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on June 28, 2001.
------------------------------ ------------------------------
J. Xxxxxx Xxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
73
OPTION AGREEMENT
THIS AGREEMENT is entered into this 8th day of January, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxx Xxxxx
("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Nevada;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire five hundred
thousand (500,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after January 8, 2001;
1. The price per each share to be acquired under this option shall be fifty
three cents ($0.53);
1. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for
the number of shares optionee wishes to purchase;
2. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) January 8, 2004;
3. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
4. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
5. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
6. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
7. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
8. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on January 8, 2001.
------------------------------ ------------------------------
Xxxx Xxxxx Xxxx Xxxxxxx, President
Emergency Filtration Products, Inc.
74
OPTION AGREEMENT
THIS AGREEMENT is entered into this 28th day of June, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxx Xxxxx
("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Nevada;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire one hundred
thousand (100,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after June 28, 2001;
2. The price per each share to be acquired under this option shall be forty
nine cents ($0.49);
3. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) June 28, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on June 28, 2001.
------------------------------ ------------------------------
Xxxxx Xxxxx Xxxxxxx Xxxxxx, Interim C.E.O.
Emergency Filtration Products, Inc.
75
OPTION AGREEMENT
THIS AGREEMENT is entered into this 8th day of January, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxxxx
Xxxxxxxxx ("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Utah;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire five hundred
thousand (500,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after January 8, 2001;
2. The price per each share to be acquired under this option shall be fifty
three cents ($0.53);
2. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
3. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) January 8, 2004;
4. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
5. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
6. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
7. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
8. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
9. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on January 8, 2001.
------------------------------ ------------------------------
Xxxxxxx Xxxxxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
76
OPTION AGREEMENT
THIS AGREEMENT is entered into this 28th day of June, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxxxx
Xxxxxxxxx ("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Utah;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire one hundred
thousand (100,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after June 28, 2001;
2. The price per each share to be acquired under this option shall be forty
nine cents ($0.49);
3. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) June 28, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on June 28, 2001.
------------------------------ ------------------------------
Xxxxxxx Xxxxxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
77
OPTION AGREEMENT
THIS AGREEMENT is entered into this 8th day of January, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxx Xxxxxx
("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Nevada;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire sixty thousand
(60,000) shares of the Company, which shares shall be issued from treasury,
subject to the following provisos:
1. This option is exercisable on or after January 8, 2001;
2. The price per each share to be acquired under this option shall be fifty
three cents ($0.53);
11. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
3. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) January 8, 2004;
4. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
5. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
6. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
7. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
8. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
9. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on January 8, 2001.
------------------------------ ------------------------------
Xxxxx Xxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
78
OPTION AGREEMENT
THIS AGREEMENT is entered into this 28th day of June, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxxxx
Xxxxxx ("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Maryland;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire one hundred
thousand (100,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after June 28, 2001;
2. The price per each share to be acquired under this option shall be forty
nine cents ($0.49);
3. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) June 28, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on June 28, 2001.
------------------------------ ------------------------------
Xxxxxxx Xxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
79
OPTION AGREEMENT
THIS AGREEMENT is entered into this 8th day of January, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxxxxx
Xxxxxxxx ("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
1. The Optionee is a resident of Nevada;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire sixty thousand
(60,000) shares of the Company, which shares shall be issued from treasury,
subject to the following provisos:
1. This option is exercisable on or after January 8, 2001;
2. The price per each share to be acquired under this option shall be fifty
three cents ($0.53);
12. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
3. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) January 8, 2004;
4. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
5. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
6. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
7. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
8. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
9. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on January 8, 2001.
------------------------------ ------------------------------
Xxxxxxxx Xxxxxxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
80
OPTION AGREEMENT
THIS AGREEMENT is entered into this 28th day of June, 2001, by and between
Emergency Filtration Products, Inc. ("EFP" or "the Optioner"), and Xxxxxxx Xxxx
("the Optionee").
RECITALS
1. The Optioner is a Nevada Corporation in good standing, and its shares are
quoted on the OTC Bulletin Board System;
2. The Optionee is a resident of Hong Kong;
NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein, the parties hereto agree as follows:
The Company hereby provides an option to the optionee to acquire one hundred
thousand (100,000) shares of the Company, which shares shall be issued from
treasury, subject to the following provisos:
1. This option is exercisable on or after June 28, 2001;
2. The price per each share to be acquired under this option shall be forty
nine cents ($0.49);
3. This option is exercisable by delivery to the Company of a bankers draft or
similar negotiable instrument in US funds, for the number of shares
optionee wishes to purchase;
4. The option to purchase shares hereunder shall lapse, in whole or in part as
the case may be, if not exercised by the remittance of the purchase price
and its arrival at the offices of the Company in negotiable form before
noon (Pacific Time) June 28, 2004;
5. Any shares issued under this Agreement shall be, in the hands of the
optionee, subject to such resale restrictions as shall be in force at the
time of issuance of the shares, and for the period thereafter applied by
law, and the resale of any shares not thereafter restricted shall be
subject to such rules as may be in force at the time, relating to sales
volume and to the timing of sales;
6. This option, and the shares evidenced thereby, have not been registered
under the Securities Act of 1933, as amended, and shall not be sold,
pledged, or otherwise transferred by the holder thereof except upon
issuance to EFP of a favorable opinion of its counsel for submission to EFP
or such other evidence satisfactory to counsel to EFP, in either case to
the effect that a proposed transfer shall not be in violation of the
Securities Act of 1933, as amended, and applicable state securities law
(compliance with Rule 144, if applicable, shall be satisfactory evidence);
7. If any action at law or in equity is brought to enforce or to interpret the
provisions of this Agreement, the prevailing party shall be entitled to
reasonable attorney's fees in addition to any other relief to which that
party may be entitled;
8. The validity of this Agreement, and any of its terms or provisions, as well
as the rights and duties of the party hereto, shall be governed by the laws
of the State of Nevada;
9. The Agreement supersedes any and all other agreements, whether oral or
written, between the parties with respect to the subject of this Agreement,
and no other agreement, statement or promise relating to the subject matter
of this Agreement which is not contained or referred to herein shall be
valid and binding;
10. This Agreement may be executed in one or more counterparts, which taken
together shall constitute one and the same instrument.
Executed on June 28, 2001.
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Xxxxxxx Xxxx Xxxxx Xxxxx, Corporate Secretary
Emergency Filtration Products, Inc.
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