Common use of Purchase of Options Clause in Contracts

Purchase of Options. Executive hereby agrees to sell, and FFMC agrees to cause EBP, as a wholly-owned subsidiary of FFMC as of the Effective Time, to repurchase, all of the outstanding options to acquire EBP Stock held by Executive (the "Options") for an amount in cash equal to $14.70 per share of EBP Stock subject to each such option less the amount of the option exercise price to acquire each such share. Such purchase shall occur simultaneously with, or as soon as practicable following, the consummation of the Merger.