Exclusive Option Grant Sample Clauses

An Exclusive Option Grant clause gives one party the sole right to purchase or license certain rights, assets, or property within a specified period. In practice, this means the grantor cannot offer the same option to any other party during the exclusivity term, and the grantee typically must meet certain conditions, such as payment or notice, to exercise the option. This clause ensures that the grantee has a guaranteed opportunity to secure the rights or assets without competition, thereby providing certainty and incentivizing commitment to the transaction.
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Exclusive Option Grant. ABX may from time to time during the term of this Agreement request any Exclusive Option pursuant to Section 2.1.1 [_____________ _______________________________________], which [______] shall specify in detail the [_________________] to be [_____________________________________________________ __________]. IMMUNOGEN shall [____________________________________] of any [___ _____________________________________________________________________________]; provided, however, that [__________________________________ ________________________________________] if: ( a) [_______________________________ ______________] with [_________________________________________________________ _____]; or ( b) [_______________________________] with [____________________________ ____________________________________________________________] and has [_________ ________________________________________________________________________] for a, [_________________] whose [_____________________________________] to [___________ _____________________], or (c) [_________________________________________________ ___] to [__________] for a [______________________________________________________ ________]; or (d) [____________________________________] with [__________] that is [___ _____] as of [__________________________] that [___________________________________ ______] a [______] for such [_________________] on the terms and conditions of this Agreement. Upon the grant of an Exclusive Option to ABX as provided in this Section 2.1.2, [___________________________________________________________] concerning the [________] regarding, or otherwise [_______________], or otherwise [_______________] any [______ ] concerning, any [______] regarding a [__________________________] to the [__________________________________]. If in an [_______________________, ________________] that the [______________________] is [_______________] for a [______ __________], IMMUNOGEN shall [_____________] in such [__________________________ _______________________________] is [_____] for [______________________]. If, within [________] of [_______________________________] that [_________________] is [______] for [__________________________________________________________________________ ________________________] for [_______________________], then [_____________] Portions of this Exhibit were omitted and have been filed separately with the Secretary of the Commission pursuant to the Company's application requesting confid...
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Exclusive Option Grant. ABX may from time to time during the term of this Agreement request any Exclusive Option pursuant to Section 2.1.1 [***], which [***] shall specify in detail the [***] to be [***]. IMMUNOGEN shall [***] of any [***]; provided, however, that [***] if: (a) [***] with [***]; or (b) [***] with [***] and has [***] for a, [***] whose [***] to [***], or (c) [***] to [***] for a [***]]; or (d) [***] with [***] that is [***] as of [***] that [***] a [***] for such [***] on the terms and conditions of this Agreement. Upon the grant of an Exclusive Option to ABX as provided in this Section 2.1.2, [***] concerning the [***] regarding, or otherwise [***], or otherwise [***] any [***] concerning, any [***] regarding a [***] to the [***]. If in an [***] that the [***] is [***] for a [***], IMMUNOGEN shall [***] in such [***] is [***] for [***]. If, within [***] of [***] that [***] is [***] for [***] for[***], then [***] [***] for [***] without the [***] for any [***].
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Exclusive Option Grant. Subject to the terms and conditions of this Agreement, on a Research Program-by-Research Program basis, the Company hereby grants to Pyxis an exclusive right, exercisable at any time during the applicable Option Term for such Research Program, to enter into (or to have an Affiliate enter into) a License Agreement with respect to such Research Program (including all Program Assets in such Research Program) on the terms and conditions set forth in the License Agreement (each, an “Exclusive Option”). For clarity, nothing herein shall prevent the Company and Pyxis from agreeing to enter into a License Agreement with respect to a Research Program at any time (in each of the Company’s and Pyxis’ sole discretion), including prior to the commencement of the Option Term for such Research Program.
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Exclusive Option Grant. Subject to the terms and conditions of this Agreement, Pieris grants ASKA an option during the Term to acquire a non-exclusive license to use the Licensed Platform IP and an exclusive license to use the Licensed Product IP to develop, manufacture, import, sale, export, and offer for sale and export the Licensed Product in the Licensed Field and Licensed Territory (collectively “Option Rights”). For the avoidance of doubt, Pieris shall not develop, manufacture, import, sale, export, and offer for sale and export the Licensed Product in the Licensed Field and Licensed Territory after ASKA exercises the
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Exclusive Option Grant. Subject to the terms and conditions of this Agreement, Pieris grants ASKA an option during the Term to acquire a non-exclusive license to use the Licensed Platform IP and an exclusive license to use the Licensed Product IP to develop, manufacture, import, sale, export, and offer for sale and export the Licensed Product in the Licensed Field and Licensed Territory (collectively “Option Rights”). For the avoidance of doubt, Pieris shall not develop, manufacture, import, sale, export, and offer for sale and export the Licensed Product in the Licensed Field and Licensed Territory after ASKA exercises the Option Rights and Pieris and ASKA execute license agreements granting ASKA licenses to the Licensed Platform IP and Licensed Product IP under the terms and conditions of this Agreement (the “Definitive Agreements”). For further avoidance of doubt, the Option Rights do not give ASKA any rights to any Intellectual Property Rights, Patent Rights, or Know-How; such rights shall be granted only under the Definitive Agreements.
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Exclusive Option Grant 
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Related to Exclusive Option Grant

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Stock Option Grants Pursuant to the following terms and conditions, the Executive shall be eligible to participate in Holdings’ stock option plan and Holdings agrees as follows: i. Holdings shall establish a stock option plan (“Stock Option Plan”) providing for grants of options (the “Stock Options”) to purchase the common stock of BD Investment Holdings Inc., par value $0.01 (the “Buyer Common Stock”) in amounts not less than (i) 2% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2008 and January 1, 2009 and (ii) 2.5% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive, selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2010 and January 1, 2011. ii. Beginning in January 2008, each annual Stock Option grant shall be made between the first and fifteenth business day of the year, unless the CEO, in his sole discretion, shall agree with the Board to a later date during such year (the “Default Date”). If the Board does not approve Stock Option grants in the amounts set forth in Section 4(c)(i) by the Default Date, then Stock Options in such amounts shall be granted pro-rata to existing option holders and employee stockholders as of such date of grant, except that the CEO’s share of such Stock Option grants shall be reduced by 75% and the other four most highly compensated executives’ share of such Stock Option grants shall be reduced by 50%. iii. The per share exercise price of each Stock Option shall be equal to the Fair Market Value of a share of Buyer Common Stock on the date of grant. Each Stock Option granted shall vest in five equal tranches on each of the first five anniversaries of the date of grant subject to the option holder’s continued employment as of each such vesting date; provided, however, that all Stock Options shall automatically vest in full upon a “change in control” (as defined in the Option Plan, it being understood that an IPO shall in no event constitute a change in control). Notwithstanding any provision of this Agreement to the contrary, following an IPO, no additional Stock Options shall be granted pursuant to the Stock Option Plan. iv. Upon termination of his employment, the portion of any Stock Option granted to the Executive which has not yet vested shall terminate. In the event the Executive’s employment terminates for any reason other than for Cause, the Executive may exercise any vested portion of any Stock Option held by him on the date of termination provided that he does so prior to the earlier of (A) ninety (90) days following termination of employment and (B) the expiration of the scheduled term of the Stock Option. Notwithstanding the foregoing, if the Executive’s employment is terminated due to death or disability (as defined in Section 5(b)), then the Executive or, as applicable in the event of death, his beneficiary or estate, may exercise any vested portion of any Stock Option held by the Executive on the date employment terminates for the shorter of (A) the period of twelve (12) months following the termination date and, (B) with respect to each Stock Option individually, the expiration of the scheduled term of such Stock Option. Upon a termination of the Executive’s employment by the Company for Cause, all Stock Options shall be forfeited immediately. v. Holdings, the Company and the Executive agree to cooperate to structure the Stock Option Plan so as to minimize or avoid additional taxes and interest that would otherwise be imposed on the Executive with respect to options granted under the Stock Option Plan pursuant to Section 409A of the Internal Revenue Code as amended (the “Code”); provided, however, that the Company shall have no obligation to grant the Executive a “gross-up” or other “make-whole” compensation for such purpose.

  • Option Grant You have been granted a NON-STATUTORY STOCK OPTION (referred to in this Agreement as your "Option"). Your Option is NOT intended to qualify as an "incentive stock option" under Section 422 of the Internal Revenue Code of 1986, as amended.

  • NOTICE OF STOCK OPTION GRANT Name: Address:

  • Stock Option The Corporation hereby grants to the Optionee the option (the "Stock Option") to purchase that number of shares of Class A Common Stock of the Corporation, par value $.01 per share, set forth on Schedule A. The Corporation will issue these shares as fully paid and nonassessable shares upon the Optionee's exercise of the Stock Option. The Optionee may exercise the Stock Option in accordance with this Agreement any time prior to the tenth anniversary of the date of grant of the Stock Option evidenced by this Agreement, unless earlier terminated according to the terms of this Agreement. Schedule A sets forth the date or dates after which the Optionee may exercise all or part of the Stock Option, subject to the provisions of the Plan.