Optionee Agreements Clause Samples
An Optionee Agreements clause defines the terms under which a party (the optionee) is granted the right, but not the obligation, to enter into a future agreement or transaction, typically involving the purchase of assets, shares, or property. This clause outlines the conditions, timeframes, and procedures the optionee must follow to exercise their option, such as providing written notice or meeting specific milestones. Its core practical function is to provide flexibility and certainty for both parties by clearly establishing the optionee's rights and the process for executing the option, thereby reducing the risk of disputes and misunderstandings.
Optionee Agreements. Prior to the Effective Time, the holders of at least seventy percent (70%) of the PCCI Stock Options outstanding as of the date of this Agreement shall have entered into the Optionee Agreements in the form of Exhibit “B” hereto.
Optionee Agreements. PCCI shall use its reasonable best efforts to obtain from each Optionee an agreement (the “Optionee Agreement”), in the form of Exhibit “B” hereto, canceling such Optionee’s PCCI Stock Options in return for payment, immediately prior to the Effective Time, of the Stock Option Consideration to such Optionee with respect to such Optionee’s PCCI Stock Options.
Optionee Agreements. In exchange for and by accepting the Option grant set forth herein, Optionee agrees as follows:
Optionee Agreements. In the event the shares of Common Stock which may be purchased pursuant to the exercise of Options under this Award have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), at the time an Option is exercised, Optionee shall, concurrently with the exercise of all or any portion of an Option, deliver to the Company a Stock Purchase and Restriction Agreement in a form provided by the Company; provided, however, that such document may be modified, amended, or any provision thereof waived in whole or in part, as is necessary or desirable to comply with then current law.
Optionee Agreements. In exchange for and by accepting the benefits afforded by this Agreement, and to protect the Company’s confidential, proprietary, and trade secret information, and the Company’s investment in building the relationships with its customers, suppliers and distributors, the Optionee agrees to the terms below.
Optionee Agreements. Buyer shall have received from each holder of Target Options an agreement in substantially the form annexed hereto as Annex 7.2(g) pursuant to which each optionee agrees (i) not to resell Buyer Common Stock received upon exercise of Target Options prior to the effectiveness of the registration statement filed pursuant to Section 6.11 and (ii) not to sell more than twenty five percent (25%) of all such Buyer Common Stock issuable pursuant to such optionee's Target Options prior to the first anniversary of the Closing Date.