Option to Purchase Shares Clause Samples

Option to Purchase Shares. Swifty hereby grants to Consultant the option to purchase from Swifty an additional one million (1,000,000) shares of Swifty's common stock at a price of fifty cents ($.50) per share. Consultant acknowledges that such shares, when issued, shall be restricted shares as defined above. The option provided for herein may be exercised at any time up to the third anniversary of the execution of this Agreement. This option may be exercised on one or more occasions for all or any portion of the said one million (1,000,000) shares. The options shares shall have the same "piggy back rights" as provided for the shares to be issued pursuant to paragraph 3 of this Agreement.

Option to Purchase Shares. Upon the (i) death of the Shareholder, or (ii) declaration of bankruptcy, assignment for the benefit of creditors or similar event regarding the insolvency of a Shareholder, whether voluntary or involuntary, which is not dismissed within sixty (60) days of said declaration, then the following shall apply: the Founder shall have the option to elect to purchase all or any portion of the Shares of the Shareholder referred to in (i) and (ii) above.

Option to Purchase Shares. Stockholder hereby grants to Buyer (i) an option to purchase that portion of the Shares equal to 34.99% of the issued and outstanding shares of the Lady Luck Common Stock and (ii) effective upon a breach by Stockholder of the provisions of Section 1, an option to purchase the remainder of the Shares, except for Shares subject to the Uboldi Agreement (each, ▇▇ "▇▇tion" and collectively, the "Options"), at a price of $12.00 per Share (or such higher price as Buyer may determine), until the termination of this Agreement in accordance with Section 7 hereof. Buyer agrees that if either of the Options are exercised (which exercise shall be evidenced by payment for the Shares) and Buyer disposes of the Shares within six months after the date of the exercise of such Option, Buyer will pay to Stockholder one-half of the net profit (after reduction for Buyer's expenses incurred for brokerage commissions (net of any reimbursements) in connection with the exercise of such Option and disposition of such Shares) to Buyer from such disposition (the "Profit Amount"), provided that the Profit Amount is not subject to disgorgement under Section 16 of the Securities Exchange Act of 1934, as amended. Solely for income tax purposes, Buyer and Stockholder shall treat any portion of the Profit Amount paid to Stockholder as additional consideration paid by Buyer to Stockholder for purchase of the Shares. Subject to any required approval under the Lady Luck Gaming Laws, either Option may be exercised by Buyer at any time upon two (2) business days' prior written notice to Stockholder, against payment of the purchase price for the Shares that are subject to such Option. Stockholder agrees to cooperate with Buyer at Buyer's expense and use all commercially reasonable efforts to assist Buyer in obtaining any approvals required under the Lady Luck Gaming Laws.

Option to Purchase Shares. Each shareholder entitled to purchase shall have a period of ninety (90) days from the time of such offer to accept all or part of such offer. The acceptance shall be in writing.

Option to Purchase Shares. Subject to the terms and conditions of this Agreement, the Company hereby grants to the Purchaser an irrevocable option, exercisable as provided herein (the "Option"), to purchase the number of shares (the "Shares") of the Company's authorized but unissued common stock, no par value (the "Common Stock"), which, after giving effect to the issuance of such stock, would represent 20% of the votes represented by all then outstanding voting securities of the Company. For purposes of this Section 1.2, the term "voting securities" shall have the meaning set forth in Section 5.4(c) of this Agreement. The price payable for each of the Shares (the "Option Price") shall be the average closing price of the Common Stock as reported by the National Association of Securities Dealers Automated Quotation System National Market System for the ten consecutive trading days ending on the day before the date on which the Exercise Notice (as hereinafter defined) is given. The Option shall be exercisable by the Purchaser in whole at any time and in part from time to time for a period of one year from the date of this Agreement (the "Option Period"). To exercise the Option, the Purchaser shall give the Company written notice of such exercise (the "Exercise Notice") within said one year period, which notice shall state the number of Shares as to which the Option is exercised. The Exercise Notice shall be sent to the Company at the address specified in Section 8.11 hereof by Certified or Registered Mail, Return Receipt Requested, and shall be deemed to be given when so mailed. If an Exercise Notice is given, the Closing shall take place, as provided in Section 2.3 hereof, with respect to the number of Shares specified in the Exercise Notice. If the Option is not exercised within the Option Period, the Option shall expire and this Agreement shall be deemed terminated, except as provided below. If at the end of the Option Period the Purchaser has not exercised the Option with respect to all of the Shares, by mutual agreement the parties may extend the Option Period for an additional six months during which time the Option may be exercised by the Purchaser with respect to the remaining Shares.

Option to Purchase Shares. The Company hereby grants to the Optionee an Option (the “Option”), pursuant to the Plan, to purchase up to _______________ (____________) shares of the Company’s Common Stock (the “Stock”). The Option Price for each share of Stock shall be ______________________ ($_______), which is acknowledged to be 100% of the Fair Market Value (defined in the Plan) of each share of Stock as of ________________________, the date of grant (or at least 110% of such Fair Market Value if the Optionee owns, or is deemed to own pursuant to Section 424(d) of the Code, more than 10% of the total combined voting power of all classes of stock of the Company). The Option shall be exercisable for the number of shares of Stock and during the specific exercise periods (“Exercise Period(s)”) set forth in the following table: ______________________ (_________) Shares ___________________1 through __________________ ______________________ (_________) Shares ___________________________1 through __________________ ______________________ (_________) Shares ___________________1 through __________________

Option to Purchase Shares. The Company hereby grants to Optionee an Option (the “Option”) to purchase up to the number of shares listed below of the Company’s Common Stock (the “Stock”) at the Exercise Price listed below, pursuant to and subject to the terms and provisions of the Plan which are incorporated by reference herein. The Exercise Price is 100% of the Market Value of each share of Stock on the Date of Grant listed below. The Option will be exercisable according to Section 2 below except as otherwise limited by the terms of this Agreement or the Plan. The Option is not an “incentive stock option” within the meaning of Section 422 of the U.S. Internal Revenue Code of 1986, as amended and is not qualified under the laws of any non-U.S. country for preferential tax treatment or any other reason. Exercise Price Per Share $ Date of Grant

Option to Purchase Shares. In the event ▇▇▇▇▇▇ proposes to ------------------------- Transfer all or any part of its Shares or any interest therein ("Offered Shares"), the following provisions shall apply:

Option to Purchase Shares. Each Stockholder hereby severally grants to the Investor an option to purchase (the "OPTION"), in the Investor's sole discretion, all Subject Shares set forth opposite such Stockholder's name on SCHEDULE A hereto, at a price per Share equal to the Cash Merger Price or, in respect of a share of Series D Stock, an amount in cash equal to the Cash Merger Price for each Share that would have been received had such share of Series D Stock been converted into Shares immediately prior to such purchase (the "EXERCISE PRICE"). The Option shall be exercisable by the Investor, as to all Stockholders, at any time prior to the termination of this Agreement, by delivery of a notice of exercise to all Stockholders at the address of each Stockholder set forth in SCHEDULE A. The Subject Shares shall be delivered (with any appropriate executed stock power) by each Stockholder to Irell & ▇▇▇▇▇▇▇ (the "ESCROW AGENT"), which shall hold the Subject Shares in escrow pending receipt by the Stockholder of the purchase price payable therefor; upon such receipt the Subject Shares shall be delivered by the Escrow Agent to Investor. Within ten business days after delivery of such notice, the Investor shall pay to each Stockholder a cash amount equal to the aggregate Exercise Price payable in respect of such Stockholder's Subject Shares against delivery of certificates representing such Subject Shares.