Citadel Computer Systems November 6, 1995 Mr. George Sharp Citadel Computer Systems, Inc. 2950 North Loop West, Suite 1080 Houston, Texas 77092 Re: Options to purchase stock Dear George: As confirmation of our verbal agreement on August 3, 1995, in...Options Agreement • March 19th, 1996 • Sharp George • Short-term business credit institutions
As confirmation of our verbal agreement on August 3, 1995, in consideration of your past performance here at Citadel, this letter serves as written confirmation that Citadel hereby grants you an option to purchase five hundred thousand (500,000) shares of Citadel common stock, at an exercise price of $.05 per share, under the same terms and conditions with regard to any anti- dilution and dividend provision(s) contained in Citadel's six hundred and fifty thousand (650,000) Bridge Warrants previously placed by Janssen-Meyers. This option is exercisable immediately and has a term of five (5) years. If Citadel goes public or merges with another public company, Citadel will use its best efforts to cause these changes to be registered under the Security Act of 1933 on a Form S8, or another applicable registration if this is not available.
