StockOptionAgreement优先认股权协议4doc.docx

StockOptionAgreement优先认股权协议4doc.docx

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StockOptionAgreement优先认股权协议4doc

StockOptionAgreement优先认股权协议-

1.GrantofOptionAAAherebygrantstoBBBanirrevocableoption（theOption）toacquireupto1,726,398shares（theOptionShares）oftheCommonStock,parvalue$,_________pershare,ofAAA（AAAShares）inthemannersetforthbelow（i）byexchangingthereforsharesoftheCommonStock,parvalue$,_________pershare,ofBBB（BBBShares）atarateoftwo

（2）BBBSharesforeachOptionShare（theExerciseRatio）and/or,atBBB’selection,（ii）bypayingcashatapricedeterminedinaccordancewithSection4below.CapitalizedtermsusedinthisAgreementbutnotdefinedhereinshallhavethemeaningsascribedtheretointheMergerAgreement.2.ExerciseofOptionTheOptionmayonlybeexercisedbyBBB,inwholeorinpart,atanytimeorfromtimetotime,upontheoccurrenceof（i）thecommencementofatenderorexchangeofferfor25%ormoreofanyclassofAAA’scapitalstock,or（ii）anyoftheeventsspecifiedinSection7.03（c）oftheMergerAgreement,otherthaneventsdescribedinSection7.01（g）thereof（anyoftheeventsspecifiedinclauses（i）or（ii）ofthissentencebeingreferredtohereinasanExerciseEvent）.IntheeventBBBwishestoexercisetheOption,BBBshalldelivertoAAAawrittennotice（anExerciseNotice）specifyingthetotalnumberofOptionsharesitwishestoacquireandtheformofconsiderationtobepaid.EachclosingofapurchaseofOptionShares（aClosing）shalloccuronadateandatatimedesignatedbyBBBinanExerciseNoticedeliveredatBBBfivebusinessdayspriortothedateofsuchClosing,whichClosingshallbeheldattheofficesofcounseltoAAA.TheOptionshallterminateupontheearlierof（i）theEffectiveTime,（ii）180daysfollowingtheterminationoftheMergerAgreementpursuanttoArticleVIIthereof,ifanExerciseEventshallhaveoccurredonorpriortothedateofsuchtermination,and（iii）thedateonwhichtheMergerAgreementisterminatedpursuanttoArticleVIIthereofifanExerciseEventshallnothaveoccurredonorpriortosuchdate;provided,however,withrespecttotheprecedingclause（ii）ofthissentence,thatiftheOptioncannotbeexercisedbyreasonofanyapplicablegovernmentorder,thentheOptionshallnotterminateuntilthetenthbusinessdayaftersuchimpedimenttoexerciseshallhavebeenremovedorshallhavebecomefinalandnotsubjecttoappeal.Notwithstandingtheforegoing,theOptionmaynotbeexercisedifBBBisinbreachinanymaterialrespectofanyofitscovenantsoragreementscontainedintheMergerAgreement.3.ConditionstoClosingTheobligationofAAAtoissueOptionSharestoBBBhereunderissubjecttotheconditionsthat（a）allconsents,approvals,ordersorauthorizationsof,orregistrations,declarationsorfilingswith,anyFederal,stateorlocaladministrativeagencyorcommissionorotherFederalstateorlocalgovernmentalauthorityorinstrumentality,ifany,requiredinconnectionwiththeissuanceoftheOptionShareshereundershallhavebeenobtainedormade,asthecasemaybe;and（b）nopreliminaryorpermanentinjunctionorotherorderbyanycourtofcompetentjurisdictionprohibitingorotherwiserestrainingsuchissuanceshallbeineffect.4.ClosingAtanyClosing,（a）AAAshalldelivertoBBBasinglecertificateindefinitiveformrepresentingthenumberofAAASharesdesignatedbyBBBinitsExerciseNotice,suchcertificatetoberegisteredinthenameofBBBandtobearthelegendsetforthinSection10hereof,and（b）BBBshallpaytoAAAtheaggregatepurchasepricefortheAAASharessodesignatedandbeingpurchasedbydeliveryof（i）asinglecertificateindefinitiveformrepresentingthenumberofBBBSharesbeingissuedbyBBBinconsiderationtherefor（basedontheExerciseRatio）,suchcertificatetoberegisteredinthenameofAAAandtobearthelegendsetforthinSection10hereof,and/or,atBBB’selection,（ii）acertifiedchecks,bankcheckorwiretransfer,asthecasemaybe.IfBBBhaselectedtodelivercashinpaymentforanyAAAShares,thepricetobepaidbyBBBincashtoAAAatanyClosinginrespectofsuchAAASharesshallbe$,_________pershare（theExercisePrice）.5.RepresentationsandWarrantiesofAAAAAArepresentsandwarrantstoBBBthat（a）AAAisacorporationdulyorganized,validlyexistingandingoodstandingunderthelawsoftheStateof_________（Placename）andhasthecorporatepowerandauthoritytoenterintothisAgreementandtocarryoutitsobligationshereunder;（b）theexecutionanddeliveryofthisAgreementbyAAAandconsummationbyAAAofthetransactionscontemplatedherebyhavebeendulyauthorizedbyallnecessarycorporateactiononthepartofAAAandnoothercorporateproceedingsonthepartofAAAarenecessarytoauthorizethisAgreementoranyofthetransactionscontemplatedhereby;（c）thisAgreementhasbeendulyexecutedanddeliveredbyAAAandconstitutesalegal,validandbindingobligationofAAAand,assumingthisAgreementconstitutesalegal,validandbindingobligationofBBB,isenforceableagainstAAAinaccordancewithitsterms,exceptasenforceabilitymaybelimitedbybankruptcyandotherlawsaffectingtherightsandremediesofcreditorsgenerallyandgeneralprinciplesofequity;（d）AAAhastakenallnecessarycorporateandotheractiontoauthorizeandreserveforissuanceandtopermitittoissueuponexerciseoftheOption,andatalltimesfromthedatehereofuntiltheterminationoftheOptionwillhavereservedforissuance,asufficientnumberofunissuedAAASharesforBBBtoexercisetheOptioninfullandwilltakeallnecessarycorporateorotheractiontoauthorizeandreserveforissuancealladditionalAAASharesnecessarycorporateorotheractiontoauthorizeandreserveforissuancealladditionalAAASharesorothersecuritieswhichmaybeissuablepursuanttoSection9（a）uponexerciseoftheOption,allofwhich,upontheirissuanceanddeliveryinaccordancewiththetermsofthisAgreement,willbevalidlyissued,fullypaidandnonassessable;（e）upondeliveryoftheAAASharesandanyothersecuritiestoBBBuponexerciseoftheOption,BBBwillacquiresuchAAASharesorothersecuritiesfreeandclearofallmaterialclaims,liens,charges,encumbrancesandsecurityinterestsofanykindornaturewhatsoever,excludingthoseimposedbyBBB;（f）theexecutionanddeliveryofthisAgreementbyAAAdonot,andtheperformanceofthisAgreementbyAAAwillnot,（i）violatetheCertificateofIncorporationorBy-LawsofAAA,（ii）conflictwithorviolateanyorderapplicabletoAAAoranyofitssubsidiariesorbywhichtheyoranyoftheirpropertyisboundoraffectedor（iii）resultinanybreachoforconstituteadefault（oraneventwhichwithnoticeorlapseoftimeorbothwouldbecomeadefault）under,orgiverisetoanyrightoftermination,amendment,accelerationorcancellationof,orresultinthecreationofalienorencumbranceonanyofthepropertyorassetsofAAAoranyofitssubsidiariespursuant,toanycontractoragreementtowhichAAAoranyofitssubsidiariesisapartyorbywhichAAAoranyofitssubsidiariesoranyoftheirpropertyisboundoraffected,except,inthecaseofclauses（ii）and（iii）above,forviolations,conflicts,breaches,defaults,rightsoftermination,amendment,accelerationorcancellation,liensorencumbranceswhichwouldnot,BBBlyorintheaggregate,haveaMaterialAdverseEffectonAAA;（g）theexecutionanddeliveryofthisAgreementbyAAAdoesnot,andtheperformanceofthisAgreementbyAAAwillnot,requireanyconsent,approval,authorizationorpermitof,orfilingwith,ornotificationto,anyGovernmentalEntityand（h）anyBBBSharesacquiredpursuanttothisAgreementwillnotbeacquiredbyAAAwithaviewtothepublicdistributionthereofandAAAwillnotsellorotherwisedisposeofsuchsharesinviolationofapplicablelaworthisAgreement.6.RepresentationsandWarrantiesofBBBBBBrepresentsandwarrantstoAAAthat（a）BBBisacorporationdulyincorporated,validlyexistingandingoodstandingunderthelawsoftheStateof_________（Placename）andhasthecorporatepowerandauthoritytoenterintothisAgreementandtocarryoutitsobligationshereunder;（b）theexecutionanddeliveryofthisAgreementbyBBBandtheconsummationbyBBBofthetransactionscontemplatedherebyhavebeendulyauthorizedbyallnecessarycorporateactiononthepartofBBBandnoothercorporateproceedingsonthepartofBBBarenecessarytoauthorizethisAgreementoranyofthetransactionscontemplatedhereby;（c）thisAgreementhasbeendulyexecutedanddeliveredbyBBBandconstitutesalegal,validandbindingobligationofBBBand,assumingthisAgreementconstitutesalegal,validandbindingobligationofAAA,isenforceableagainstBBBinaccordancewithitsterm,exceptasenforceabilitymaybelimitedbybankruptcyandotherlawsaffectingtherightsandremediesofcreditorsgenerallyandgeneralprinciplesofequity;（d）BBBhastaken（orwillinatimelymannertake）allnecessarycorporateandotheractiontoauthorizeandreserveforissuanceandtopermitittoissueuponexerciseoftheOptionandwilltakeallnecessarycorporateorotheractiontoauthorizeandreserveforissuancealladditionalBBBSharesorothersecuritieswhichmaybeissuablepursuanttoSection9（b）uponexerciseoftheOption,allofwhich,upontheirissuanceanddeliveryinaccordancewiththetermsofthisAgreement,willbevalidlyissued,fullypaidandnonassessable;（e）upondeliveryofAAASharestoBBBinconsiderationofanyacquisitionofBBBSharespursuanthereto,BBBwillacquiresuchAAASharesfreeandclearofallmaterialclaims,liens,charges,encumbrance