OPTION GRANT: Seller hereby grants Buyer the exclusive and irrevocable option to acquire all properties in Seller`s County, including but not limited to the property described below, as well as any improvements thereto, under the conditions set forth below, namely: This stock option agreement is intended for use in connection with a stock incentive plan (or share purchase plan). An option agreement grants the option holder the right to purchase shares at a fixed price at some point in the future. Download this free stock option agreement below. EXERCISE OF OPTION: This call option may be exercised by Buyer at any time before midnight on May 20 by giving written notice to Seller at the following address: , , ______. All notices shall be deemed to have been delivered to Seller upon dispatch to the United States, acknowledgment of receipt requested and addressed to the above address. 1. Exercise of the option. Effective immediately, the undersigned (“Option Holder”) hereby elects to exercise the OptionHolder`s option to purchase [# Share to buy] common shares (the “Shares”) of a [Corporate Name] of a Delaware corporation (the “Company”) in accordance with the Stock Incentive Plan [Plan Year], as amended (the “Plan”), and the Share Purchase Agreement dated [Date of Option Agreement] (the “Option Agreement”). Capitalized terms used herein without definition shall have the meanings specified in the option agreement.
2.16.2. Entire Agreement; Enforcement of rights. This Agreement, together with the notice to which it is attached and the Plan, sets forth the entire agreement and understanding of the parties with respect to the subject matter contained herein and brings together all previous discussions between the parties. Except as provided in the Plan, no modification or addition to this Agreement or waiver of any right under this Agreement shall be effective unless signed in writing by the parties to this Agreement. The failure of either party to enforce any rights under this Agreement shall not be construed as a waiver of that party`s rights. 2.12. Restrictions on Shares. The Option Holder hereby agrees that the shares acquired during the exercise of the Option will be subject to the terms and conditions determined by the Administrator in its sole discretion, including, but not limited to, restrictions on the transferability of shares and a right of first refusal in favour of the Company with respect to authorized transfers of shares.
These terms may, at the Administrator`s sole discretion, be included in the exercise notice regarding the Option or in any other agreement established by the Administrator and entered into herein by the Option Holder at the request of the Company. PURCHASE PRICE: The purchase price of the property is ($). The purchase price after application of the option money must be paid by urchaser in cash to the seller. Closing must be completed within fifteen (15) days of Seller`s delivery of an acceptable Certificate of Title to Buyer in accordance with paragraph IV. 2.2. Designation of the Option. If this option is designated as an incentive stock option in the grant notice, it will be considered an incentive stock option within the meaning of section 422 of the Code; provided, however, that, to the extent that the aggregate fair value of the common shares in respect of the incentive stock options (as defined in section 422 of the Code, but without regard to paragraph 422(d) of the Code), including the option, may be exercised for the first time in a calendar year (under the Plan and all other incentive stock option plans of the Corporation (or any “parent company” or of a “subsidiary” of the “subsidiary” within a Calendar Year) the significance of sections 424(e) and 424(f)) of the Code exceeds $100,000, these options will be treated as ineligible under section 422 of the Code, but as non-eligible stock options to the extent required by section 422 of the Code. The rule in the preceding sentence is applied taking into account the options in the order in which they were granted. For the purposes of this Regulation, the fair value of the common shares at the time the option is granted in respect of those shares will be determined.
BUYER`S DEFAULT: In the event of Buyer`s failure to exercise this option, or in the event of Buyer`s default after exercising this option, all amount paid by Buyer to Seller in connection with the performance of this Agreement or in the event of renewal will be retained by Seller as lump sum damages and in return for granting this Option to Buyer. and all rights of Buyer under this Agreement expire. 10.6. Entire Agreement. The Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan, the Option Agreement and the Investment Statement constitute the entire agreement of the parties and, in their entirety, supersede all prior obligations and agreements of the Company and the option holder with respect to the subject matter hereof. EXTENSION: Buyer has the right to extend the period within which this option may be exercised until midnight, 20 __, to pay Seller an additional amount of $in cash before the end of the initial option period, and to notify Seller in writing of Buyer`s choice to renew the option. If the sale is concluded within the extended option period, this amount applies to the purchase price.
4.1.4. Payment. Payment of the Purchase Price will be made, at the option of the Company or its assignees, in cash (by cheque), by cancelling all or part of any outstanding debt of the Holder to the Company (or, in the event of redemption by an assignee, the assignee) or by a combination of the two within thirty (30) days of receipt of the notice or in the manner and at the times when: that have been mutually agreed upon, by the company and the owner. OPTION MONEY: Upon execution of this option, the buyer paid the amount of $ as “option money” to the seller. In the event that buyer exercises the option to purchase such property within the original option period or an extension thereof and is not in default with other terms of this Agreement, such option will apply to the purchase price at closing. 2.3.2. Method of exercise. This option may be exercised by giving written notice to the Company (as set forth in Appendix A) (the “Notice of Exercise”). The notice of exercise must include the number of shares for which the option will be exercised and any other declaration and agreement relating to those common shares required by the Corporation under the provisions of the Plan. The notice of exercise will be signed by the holder of the option and delivered in person or by registered mail to the Secretary of the Company or another authorized representative of the Company. The exercise notification shall be accompanied by the payment of the exercise price, including the payment of any withholding tax incurred.
No shares will be issued in connection with the exercise of an option unless such issue and exercise comply with all relevant legal requirements and the requirements of an exchange on which the shares may subsequently be listed. Assuming such compliance, the shares are deemed to have been transferred to the holder of the option for income tax purposes on the date on which the option is exercised in respect of those shares. TITLE: Within fifteen (15) days of buyer exercising this option as set forth above, Seller must provide Buyer or its attorney with a certificate of ownership from a reputable attorney on which certificate title insurance can be purchased covering the property described in paragraph I above, reflecting that the negotiable costs of simple ownership of the property in question belong to seller and that it belongs to Seller from a property described in paragraph I above. The securities company is insurable at the buyer`s choice….