Access this template and the rest of our document with a fixed monthly plan. 2.1. Granting of the Option. The Company hereby grants the Option Holder an option to purchase the number of common shares (the «Shares») as set forth in the Grant Announcement at the exercise price per share set out in the Grant Announcement (the «Exercise Price»). Notwithstanding anything to the contrary elsewhere in this Option Agreement, the granting of an option is subject to the terms, definitions and provisions of the Plan incorporated herein by reference. An option agreement determines the type and amount of shares to be issued to the buyer, the exercise period, the strike price and any conditions that must be met before they can be exercised. A share acquisition agreement is a contract in which a company sells new shares to an employee or consultant, which are then acquired over time or when certain objectives are achieved. 2.16.2. Entire Agreement; Enforcement of rights.
This Agreement, together with the notice to which it is attached and the Plan, sets forth the entire agreement and understanding of the parties with respect to the subject matter contained herein and brings together all previous discussions between the parties. Except as provided in the Plan, no modification or addition to this Agreement or waiver of any right under this Agreement shall be effective unless signed in writing by the parties to this Agreement. The failure of either party to enforce any rights under this Agreement shall not be construed as a waiver of that party`s rights. This form has been created for general information purposes only. They do not constitute legal advice, advertising, solicitation or tax advice. The submission of this form and the information it contains is not intended to establish a customer relationship and its receipt does not constitute justification. You should not rely on this document or such information for any purpose without seeking the legal advice of a duly licensed attorney, including, but not limited to, reviewing and advising on the terms of this form, the appropriate approvals required in connection with the transactions provided for in this form, and any securities laws and other legal matters; which are considered in this form or in the operations provided for in this form. Under an option contract, the shares are issued to the buyer when he exercises the option and pays the exercise price. This is also known as a «forward acquisition,» which is at odds with «reverse acquisition» under a share acquisition agreement. Pursuant to its [current year] stock incentive plan (the «Plan»), as amended from time to time (the «Plan»), [Company Name] a Delaware corporation (the «Company») hereby grants to the holder of the option listed below («Option Holder») an option to purchase the number of common shares of the Company listed below, subject to the terms of the Plan and this Stock Option Agreement (this «Option Agreement»). Except as otherwise defined herein, the terms defined in the plan in this Option Agreement have the same defined meanings. 1.1.
Acquisition schedule. The shares subject to this option will be acquired according to the following schedule: twenty-five percent (25%) of the shares subject to the option (rounded to the nearest whole number of shares) will be acquired on the first anniversary of the start date of the acquisition and 1/48 of the shares subject to the option will be acquired monthly thereafter, so that one hundred percent (100%) of the shares subject to the option will be acquired on the fourth anniversary of the date of commencement of the acquisition, subject to the fact that the option holder remains a service provider until each of these acquisition data (unless otherwise decided by the Administrator). An option contract is a contract by which a company gives a buyer the opportunity to buy new shares in the future. 2.2. Designation of the option. If this option is designated as an incentive stock option in the grant notice, it will be considered an incentive stock option within the meaning of section 422 of the Code; provided, however, that, to the extent that the aggregate fair value of the common shares in respect of the incentive stock options (as defined in section 422 of the Code, but without regard to paragraph 422(d) of the Code), including the option, may be exercised for the first time in a calendar year (under the Plan and all other incentive stock option plans of the Corporation (or any «parent company» or of a «subsidiary» of the «subsidiary» within a Calendar Year) the significance of sections 424(e) and 424(f)) of the Code exceeds $100,000, these options will be treated as ineligible under section 422 of the Code, but as non-eligible stock options to the extent required by section 422 of the Code. The rule in the preceding sentence is applied taking into account the options in the order in which they were granted. For the purposes of this Regulation, the fair value of the common shares will be determined at the time the option is granted in respect of those shares […].