Grant of Option Contract Clauses (3,018)

Grant of Option. Sparta Commercial Services, Inc., a Nevada corporation (the "Company"), hereby grants, as of the effective date of this Agreement specified on Schedule I hereof beside the caption "Date of Grant" ("Date of Grant"), to Anthony L. Havens (the "Optionee") an option (the "Option") to purchase an aggregate number of shares set forth on Schedule I hereof beside the caption "Number of Optioned Shares" (such number being subject to adjustment as provided below) of the Company's common stock, $0.001 par ...value per share (the "Shares"), at an exercise price per share set forth on Schedule I hereof beside the caption "Exercise Price" (such exercise price being subject to adjustment as provided below) (the "Exercise Price"). The Option shall be subject to the terms and conditions set forth herein. This Option is designated on Schedule I as either an Incentive Stock Option or a Non-Qualified Stock Option. View More

Grant of Option. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants to the Original Grantee a non-qualified stock option (the "Option") to purchase up to 100,000 shares of common stock, no par value, of the Company (the "Shares") at an exercise price of $7.61 per Share. The Option shall vest and become exercisable as set forth in Section 2 below. The number of Shares subject to, and the exercise price of, the Option shall be subject to adjustment as provided i...n the Plan. View More

Grant of Option. In accordance with the Plan, and effective as of the Date of Grant specified in the Grant Notice (the "Date of Grant"), the Company granted to Participant, subject to the terms and conditions of the Plan and these Terms and Conditions, including paragraph 2(d), the right and option to purchase from the Company all or part of the number of shares of Common Stock specified in the Grant Notice (the "Option") at the option price specified in the Grant Notice (the "Option Price"). The shares of Commo...n Stock that vest in accordance with paragraph 2(b) are referred to as the "Vested Shares." This Option is not an "incentive stock option" under Section 422 of the Code. This Option may be exercised in accordance with these Terms and Conditions. "Exercising" this Option means purchasing all or part of the shares of Common Stock specified in the Grant Notice at the Option Price. View More

Grant of Option. Subject to the terms and conditions set forth herein and pursuant to the Plan, the Company grants to the Optionee an option (the "Option") to purchase from the Company all or any part of 20,000 shares of Common Stock (the "Optioned Shares"), at a price of $0.43 per Optioned Share (the "Exercise Price").

Grant of Option. (a) On a Participant's Entry Date, subject to the limitations set forth in Sections 3(b) and 12(a), the Participant shall be granted an option to purchase on each subsequent Exercise Date during the Offering Period in which such Entry Date occurs (at the Exercise Price determined as provided in Section 8 below) up to a number of shares of Common Stock determined by dividing such Participant's Plan Contributions accumulated prior to such Exercise Date and retained in the Participant's account as ...of such Exercise Date by the Exercise Price; provided, that the maximum number of shares an Employee may purchase during any Exercise Period shall be 2,500 shares. The Fair Market Value of a share of Common Stock shall be determined as provided in Section 7(b). (b) The Fair Market Value of a share of Common Stock on a given date shall be determined by the Committee in its discretion; provided, that if there is a public market for the Common Stock, the Fair Market Value per share shall be either (i) the closing price of the Common Stock on such date (or, in the event that the Common Stock is not traded on such date, on the immediately preceding trading date), as reported by NASDAQ, (ii) if such price is not reported, the average of the bid and asked prices for the Common Stock on such date (or, in the event that the Common Stock is not traded on such date, on the immediately preceding trading date), as reported by NASDAQ, (iii) in the event the Common Stock is listed on a stock exchange, the closing price of the Common Stock on such exchange on such date (or, in the event that the Common Stock is not traded on such date, on the immediately preceding trading date), as reported in The Wall Street Journal, or (iv) if no such quotations are available for a date within a reasonable time prior to the valuation date, the value of the Common Stock as determined by the Committee using any reasonable means. 5 8. Exercise Price. The Exercise Price per share of Common Stock offered to each Participant in a given Offering Period shall be the lower of: (i) the Applicable Percentage of the Fair Market Value of a share of Common Stock on the Offering Date or (ii) the Applicable Percentage of the Fair Market Value of a share of Common Stock on the Exercise Date. The Applicable Percentage with respect to each Offering Period shall be 85%, unless and until such Applicable Percentage is increased by the Committee, in its sole discretion, provided that any such increase in the Applicable Percentage with respect to a given Offering Period must be established not less than 15 days prior to the Offering Date thereof. View More

Grant of Option. On the applicable Enrollment Date, each Participant in an Offering Period shall be granted an Option to purchase on the applicable Exercise Date a number of full Shares determined by dividing such Participant's payroll deductions accumulated prior to such Exercise Date and retained in the Participant's Purchase Account as of the applicable Exercise Date by the applicable Purchase Price. 5 8. EXERCISE OF OPTION. A Participant's Option for the purchase of Shares shall be exercised automatically on... the Exercise Date, and the maximum number of Shares subject to the Option shall be purchased for such Participant at the applicable Purchase Price with the accumulated payroll deductions in his or her Purchase Account. If the Fair Market Value of a Share on the first day of the current Offering Period in which a participant is enrolled is higher than the Fair Market Value of a Share on the first day of any subsequent Offering Period, the Company may establish procedures to automatically enroll such participant in the subsequent Offering Period and any funds accumulated in a participant's account prior to the first day of such subsequent Offering Period will be applied to the purchase of shares on the Exercise Date immediately prior to the first day of such subsequent Offering Period. A participant does not need to file any forms with the Company to be automatically enrolled in the subsequent Offering Period. No fractional Shares shall be purchased; any payroll deductions accumulated in a Participant's Purchase Account which are not sufficient to purchase a full Share shall be retained in the Purchase Account for the next subsequent Purchase Period, subject to earlier withdrawal by the Participant as provided in Section 12 hereof. All other payroll deductions accumulated in a Participant's Purchase Account and not used to purchase Shares on an Exercise Date shall be distributed to the Participant. During a Participant's lifetime, a Participant's Option is exercisable only by him or her. The Company shall satisfy the exercise of all Participants' Options for the purchase of Shares through (a) the issuance of authorized but unissued Shares, (b) the transfer of treasury Shares, (c) the purchase of Shares on behalf of the applicable Participants on the open market through an independent broker and/or (d) a combination of the foregoing. View More

Grant of Option. Subject to the terms of the Plan (the terms of which are incorporated by reference herein), on [Grant Date] (the "Grant Date"), the Company granted to the Optionee the right and option (the "Option") to purchase, on the terms and subject to the conditions hereinafter set forth, [Number] shares of Common Stock. This Option shall not constitute an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

Grant of Option. On the Enrollment Date of each Offering Period, each eligible Employee participating in such Offering Period shall be granted an option to purchase on the Exercise Date for such Offering Period (at the applicable Purchase Price) up to a number of shares of the Company's Common Stock determined by dividing such Employee's payroll deductions (and contributions) accumulated prior to such Exercise Date and retained in the participant's account as of the Exercise Date by the applicable Purchase Price...; provided that such purchase shall be subject to the limitations set forth in Sections 3(b) and 14 hereof. However, the maximum number of shares of Common Stock purchasable per participant on any Exercise Date shall not exceed twenty-five thousand U.S. dollars ($25,000) worth of shares (calculated based on the closing price of shares of Common Stock on the first day of the applicable Offering Period), subject to periodic adjustments in the event of certain changes in the Company's capitalization as provided in Section 20. Exercise of the option shall occur as provided in Section 10, unless the participant has withdrawn pursuant to Section 12. View More

Grant of Option. On each Offering Date, each Participant in the applicable Offering Period shall be granted an option to purchase, on the Purchase Date, a number of Common Shares determined by dividing the Participant's accumulated payroll deductions by the applicable Purchase Price; provided, however, that in no event shall any Participant purchase more than 1,250 Common Shares during an Offering Period (subject to adjustment in accordance with Section ‎18 and the limitations set forth in Section ‎13 of the Pla...n). View More

Grant of Option. Seller hereby grants to Buyer the exclusive option to purchase that certain real property located in Hendry County, Florida described in Exhibit "A" and depicted in Exhibit "A-1", each attached hereto, which real property comprises approximately 5,804 acres, together with all timber, transferable development rights, improvements, easements, appurtenances, hereditaments, and riparian and littoral rights, if any (the "Property"), in accordance with the provisions of this Agreement. This Agreement ...becomes legally binding on execution of this Agreement, but exercise of the option is subject to approval by Buyer and is effective only if DSL gives written notice of exercise to Seller. View More