Example ContractsClausesAdvancement or Cancellation of the ​ Option and the HLTT Option
Advancement or Cancellation of the ​ Option and the HLTT Option
Advancement or Cancellation of the ​ Option and the HLTT Option contract clause examples
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The Option shall have a term of ten (10) years from the Date of Grant and shall terminate at the expiration of that period, unless it is terminated at an earlier date pursuant to the provisions of this Agreement.

Option Term. The term of each Stock Option shall be fixed by the Administrator, but no Stock Option shall be exercisable more than ten years after the date the Stock Option is granted.

Option Rights. hereby grants to the originally named herein (“Original “) and any Permitted Transferee Assignee, three (3) options to extend the Lease Term for a period of five (5) years each (each, an “Option Term“, and each such option, theOption to Extend”). Such Options to Extend shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) delivered by to (the “Extension Exercise Notice“) as provided below, provided that the following conditions (theOption Conditions“) are satisfied: # as of the date of delivery of such notice, is not in Default under this Lease; # is not in Default under this Lease at the time and execute an amendment to this Lease extending the Lease Term for the applicable Option Term, and as of the end of the Lease Term or the initial Option Term, as the case may be, is not in Default under this Lease; # has not previously been in Default under this Lease more than once in the immediately preceding thirty-six (36) month period; and # this Lease then remains in full force and effect and Original (or a Permitted Transferee Assignee) has not subleased more than forty percent (40%) of the Premises pursuant to subleases in effect at the time the applicable Option to Extend is exercised and as of the commencement of the applicable Option Term (in each case, excluding any Permitted Transfer). may, at ’s option, exercised in ’s sole and absolute discretion, waive any of the Option Conditions in which case the Option to Extend, if otherwise properly exercised by , shall remain in full force and effect; provided, however, unless delivers written notice to within thirty (30) days following ’s exercise of the Option to Extend stating that such exercise is invalid due to ’s failure to satisfy the Option Conditions, then shall be deemed to have waived the Option Conditions. Upon the proper exercise of the Option to Extend, and provided that satisfies all of the Option Conditions (except those, if any, which are waived by ), the Lease Term or the initial Option Term, as applicable, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original and any Permitted Transferee Assignee and may be exercised by Original or a Permitted Transferee Assignee only (and not by any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1 of this Lease, of ’s interest in this Lease) if the Original or any such Permitted Transfer Assignee physically occupies (as described above) at least seventy percent (70%) of the Premises.

Option Rent. The Rent payable by during an Option Term (theOption Rent”) shall be equal to one hundred percent (100%) of the “Market Rent,” as that term is defined in, and determined pursuant to, Exhibit G attached hereto.

Option Price. The Option Price for each grant of an Option shall be determined by the Committee in its sole discretion and shall be specified in the Award Agreement evidencing such Option; provided, however, the Option Price must be at least equal to 100% of the Fair Market Value of a Share as of the Option’s Grant Date, subject to adjustment as provided for under Section 4.5.

"Parties" means, collectively, the Vendor, the Purchaser and the Corporation, and "Party" means any one of them; and where there is a reference to only two Parties, the Vendor and the Corporation shall be treated as one Party and the Purchaser as the other Party;

Option Price. The exercise price of an Option shall be the Fair Market Value of the Stock at the time the Option is granted.

Repurchase Option. Unless the Administrator determines otherwise, the Restricted Stock Purchase Agreement shall grant the Company a repurchase option exercisable within ninety (90) days of the voluntary or involuntary termination of the purchaser’s service with the Company for any reason (including death or disability). The purchase price for Shares repurchased pursuant to the Restricted Stock Purchase Agreement shall be the original price paid by the purchaser and may be paid by cancellation of any indebtedness of the purchaser to the Company. The repurchase option shall lapse at such rate as the Administrator may determine.

Option Term. The term of each Option shall be fixed by the Committee in its sole discretion; provided that no Option shall be exercisable after the expiration of ten (10) years from the date the Option is granted. The option term shall be measured from the Grant Date.

Option Agreements. Any existing Non Qualified Option Agreements and Incentive Stock Option Agreements between Employee and the Company (collectively, “Option Agreements”) remain valid and in effect. Neither the terms of the Option Agreements nor the terms of the 2009 Equity Incentive Plan as they relate to the exercise of such options are amended or superseded by this Agreement.

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