Document:

EXHIBIT
        10.4

      

        MAIDEN
          HOLDINGS, LTD.

         

        Form
          of Share Option Agreement

         

        1. Grant
          of Option.

         

        Maiden
          Holdings, Ltd., a Bermuda Holding company (the “Company”), hereby grants to
          [  ]
          (the
“Participant”) an Option to purchase an aggregate of [  ]
          Ordinary Shares, $.01 par value, of the Company, at a price of
          $[ ]
          per
          share, purchasable as set forth in and subject to the terms and conditions
          herein. The date of grant of this Option is [  ]
          (“Award
          Date”). This Option has been duly granted by the Company’s Board of Directors
          pursuant to the Company’s 2007 Share Incentive Plan (the “Plan”) and subject to
          the terms and provisions thereof. To the extent permissible under the Internal
          Revenue Code of 1986, as amended from time to time (the “Code”), or any
          successor thereto, it is intended that [ ]
          of the
          Ordinary Shares shall be Incentive Stock Options within the meaning of
          Section
          422 of the Code (“ISOs”) and [  ]
          Ordinary Shares shall be non-qualified options (“NSOs”). Any capitalized terms
          not defined herein shall have the meaning set forth in the Plan.

         

        2. Exercise
          of Option and Provisions for Termination.

         

        (a) Except
          as
          otherwise provided herein and subject to the right of cumulation provided
          herein, this Option may be exercised, prior to the 10th
          anniversary of the Award Date, as to not more than the following number
          of
          shares covered by this option during the respective periods set forth
          below:

         

        
          	
                  Number
                    of Months 

                  From
                    Award Date

                	
                  Vested
                    Percentage

                	
                  Number
                    of

                  ISO
                    Shares

                	
                  Number
                    of 

                  NSO
                    Shares

                
	
                  0
                    up to 12

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  12
                    up to 15

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  15
                    up to 18

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  18
                    up to 21

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  21
                    up to 24

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  24
                    up to 27

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  27
                    up to 30

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  30
                    up to 33

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  33
                    up to 36

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  36
                    up to 39

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  39
                    up to 42

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  42
                    up to 45

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  45
                    up to 48

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  48
                    through 10th

                	
                  [       
                    ]%

                	
                  [       
                    ]

                	
                  [       
                    ]

                
	
                  Anniversary
                    of 

                  Award
                    Date

                	 	 	 

        

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

          (b) The
            right
            of exercise provided herein shall be cumulative so that if the Option
            were not
            exercised to the maximum extent permissible during any such period it
            shall be
            exercisable, in whole or in part, with respect to all shares not so purchased
            at
            any time during any subsequent period prior to the expiration or termination
            of
            this Option. This Option may not be exercised at any time after the
            10th
            anniversary of the Award Date.
   

        

        (c) Subject
          to the terms and conditions hereof, this Option shall be exercisable by
          Participant giving written notice of exercise to the Company on a form
          acceptable to the Company, specifying the number of shares to be purchased
          and
          the purchase price to be paid therefore and accompanied by payment in accordance
          with Section 3 hereof. Such exercise shall be effective upon receipt by
          the
          Treasurer of the Company of the written notice together with the required
          payment. Participant shall be entitled to purchase fewer than the number
          of
          shares purchasable hereunder at the date of exercise, provided that no
          partial
          exercise of this Option shall be for fewer than 100 shares.

         

        (d) This
          Option shall become fully vested if Participant’s employment is terminated due
          to: (i) retirement on or after the Participant’s sixty-fifth birthday; (ii)
          retirement on or after the Participant’s fifty-fifth birthday with the consent
          of the Company; (iii) retirement at any age on account of total and permanent
          disability as determined by the Company; or (iv) death.

         

        (e) In
          the
          event that Participant’s employment with the Company is terminated within twelve
          months of a Change of Control (as defined in the Plan), the Participant
          may
          exercise any portion of the Option which the Board of Directors, in accordance
          with the Plan, deems to be vested as of the termination date, for a period
          of
          ninety days following the date of such termination, but not beyond the
          10th
          anniversary of the Award Date. 

         

        (f) Except
          as
          provided in Subsections (d) and (e), this Option shall terminate immediately
          if
          Participant’s employment is terminated for any reason; provided,
          however,
          that
          except in the event of termination for Cause, death or total and permanent
          disability, any portion of this Option which was otherwise exercisable
          on the
          date of termination of such employment may be exercised within the three-month
          period following the date of such termination, but in no event after the
          10th
          anniversary of the Award Date. Any such exercise may be made only to the
          extent
          of the number of shares subject to this Option, which are purchasable upon
          the
          date of such termination.

         

        (g) In
          the
          event of death or total and permanent disability, this Option shall be
          exercisable within twelve months of the date of death or such disability
          by the
          Participant or, if applicable, by Participant’s personal representatives, heirs
          or legatees, to the same extent that Participant could have exercised this
          Option on the date of death or such disability.

         

        3. Payment
          of Purchase Price.

         

        (a) Payment
          of the Option Price for shares purchased upon exercise of this Option shall
          be
          made by delivery to the Company of cash or check payable to the order of
          the
          Company in an amount equal to the Option Price of such shares or, within
          the
          sole discretion of the Company, any other method of payment permitted by
          law,
          including, but not limited to, delivery of Ordinary Shares of the Company
          having
          an aggregate Fair Market Value as determined on the date of delivery equal
          to
          the Option Price of such shares.

         

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

        (b) For
          purposes, hereof, the Fair Market Value of any shares of the Company’s Ordinary
          Shares to be delivered to the Company in exercise of this Option shall
          be
          determined in accordance with the Plan.

         

        (c) If
          Participant, with the approval of the Company, elects to exercise this
          Option by
          delivery of Ordinary Shares of the Company, the certificate or certificates
          representing the Ordinary Shares of the Company to be delivered shall be
          duly
          executed in blank, with signature guaranteed, by Participant or shall be
          accompanied by a stock power, executed in blank suitable for purposes of
          transferring such shares to the Company. Fractional Ordinary Shares of
          the
          Company will not be accepted in payment of the purchase price of shares
          acquired
          upon exercise of this Option.

         

        (d) If
          a
          Participant pays the Option Price with Ordinary Shares which were received
          by
          the Participant upon exercise of one or more ISOs, and such Ordinary Shares
          have
          not been held by the Participant for at least the greater of (i) two years
          from the date the ISOs were granted or (ii) one year after the transfer of
          Ordinary Shares to the Participant, the use of such shares shall constitute
          a
          disqualifying disposition and the ISO underlying the shares used to pay
          the
          Option Price shall no longer satisfy all of the requirements of Section 422
          of the Code.

         

        4. Delivery
          of Shares.

         

        The
          Company shall, upon payment of the Option Price for the number of shares
          purchased and paid for, make prompt delivery of such shares to Participant;
          provided, that if any law or regulation requires the Company to take any
          action
          with respect to such shares before the issuance thereof, then the date
          of
          delivery of such shares shall be extended for the period necessary to complete
          such action. No shares shall be issued and delivered upon exercise of this
          Option unless and until, in the opinion of counsel for the Company, any
          applicable registration requirements of the Securities Act of 1933, any
          applicable listing requirements of any national securities exchange on
          which
          shares of the same class are then listed, and any other requirements of
          law or
          of any regulatory bodies having jurisdiction over such issuance and delivery,
          shall have been fully complied with.

         

        5. Non-transferability
          of Option.

         

        Except
          as
          provided in Section 2(g) hereof or
          pursuant to a qualified domestic relations order, this Option is personal
          and no
          rights granted hereunder shall be transferred, assigned, pledged or hypothecated
          in anyway (whether by operation of law or otherwise) nor shall any such
          rights
          be subject to execution, attachment or similar process. Upon any attempt
          to
          transfer, assign, pledge, hypothecate or otherwise dispose of this Option
          or of
          such rights contrary to the provisions here, or upon the levy of any attachment
          or similar process upon this Option of such rights, this Option and such
          rights
          shall, at the election of the Company, become null and void.

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

        6. Rights
          as a Shareholder.

         

        Participant
          shall have no rights as a shareholder with respect to any shares which
          may be
          purchased upon exercise of this Option unless and until a certificate or
          certificates representing such shares are duly issued and delivered to
          him.
          Except as otherwise expressly provided herein, no adjustments shall be
          made for
          dividends or other rights for which the record date is prior to the date
          such
          share certificate is issued.

         

        7. Recapitalization.

         

        If
          there
          is any change in the corporate structure or shares of the Company, the
          Committee
          (as defined in the Plan) or the Board of Directors shall make any appropriate
          adjustments, including, but not limited to, such adjustments deemed necessary
          to
          prevent accretion, or to protect against dilution, in the number and kind
          of
          Ordinary Shares covered by this Option and in the applicable Option Price.
          

         

        8. Extraordinary
          Corporate Transaction.

         

        In
          the
          event of an extraordinary dividend or other distribution, merger,
          reorganization, consolidation, combination, sale of assets, split up, exchange
          or spin off or other extraordinary corporate transaction, the Committee
          or the
          Board of Directors may, in such manner and to such extent (if any) as it
          deems
          appropriate and equitable make provision for a cash payment or for the
          substitution or exchange of the Option or the cash, securities or property
          deliverable to the Participant pursuant to the Option based upon the
          distribution or consideration payable to holders of Ordinary Shares upon
          or in
          respect of such event; provided, however, that no such adjustment may be
          made
          that would cause this Option or the Plan to violate Section 422 of the
          Code (or
          any successor provision).

         

        9. Investment
          Representation, Etc.

         

        (a) Participant
          represents that any shares purchased upon the exercise of this Option shall
          be
          acquired by Participant for his own account for investment and not with
          a view
          to or for sale in connection with, any distribution of such shares, nor
          with any
          present intention of distributing or selling such shares. Participant further
          represents that he has made detailed inquiry concerning the Company, that
          the
          officers of the Company have made available to Participant any and all
          written
          information which Participant has requested, that the officers of the Company
          have answered to Participant’s satisfaction all inquires made by him and that he
          has such knowledge and experience in financial and business matters that
          he is
          capable of evaluating the merits and risks of an investment in the Company’s
          Ordinary Shares and able to bear the economic risk of that investment.
          By making
          payment upon exercise of this Option, Participant shall be deemed to have
          reaffirmed, as of the date of such payment, the representations made in
          this
          Section 9.

         

        (b) All
          share
          certificates representing Ordinary Shares issued to Participant upon exercise
          of
          this Option shall, at the election of the Company, have affixed thereto
          a legend
          substantially in the following form:

         

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

        “The
          ordinary shares represented by this certificate have not been registered
          under
          the Securities Act of 1933 and may not be transferred, sold or otherwise
          disposed of in the absence of an effective registration statement with
          respect
          to the shares evidenced by this certificate, filed and made effective under
          the
          Securities Act of 1933, or an opinion of counsel satisfactory to the Company
          to
          the effect that registration under such Act is not required.”

         

        10. Miscellaneous.

         

        (a) Except
          as
          provided herein, this Agreement may not be amended or otherwise modified
          unless
          evidenced in writing and signed by the Company and Participant.

         

        (b) All
          notices under this Agreement shall be mailed or delivered by hand to the
          parties
          at their respective addresses set forth beneath their names below or at
          such
          other address as may be designated in writing by either of the parties
          to one
          another.

         

        (c) Nothing
          contained herein shall be deemed an undertaking by the Company to continue
          Participant’s employment by the Company which may be terminated at any time at
          the sole discretion of the Company, except as provided in an employment
          agreement between the Company and Participant, if any.

         

        (d) This
          Agreement shall be governed by and construed in accordance with the laws
          of
          Bermuda without regard to any conflicts or choice of law rules or principles
          that might otherwise refer construction or interpretation of this Agreement
          to
          the substantive law of another jurisdiction.

         

        Dated:
          [  ]

        MAIDEN
          HOLDINGS, LTD.

         

        By                            

         

         

        
          	 	
                  Title:

                	
                   

                

        

        
          	 	
                  Address:

                	
                  7
                    Reid Street 

                

        

        
          	 	 	
                  Hamilton
                    HM 12 

                

        

        
          	 	 	
                  Bermuda

                

        

        

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

        PARTICIPANT’S
          ACCEPTANCE 

         

        The
          undersigned hereby accepts the foregoing Option and agrees to the terms
          and
          conditions thereof.

         

        PARTICIPANT:

         

        Signature                        

        [        ]

        

        Date                        

        

        Address:                        

                                

                                

        

        
          
            
            

          

          
            6EXHIBIT
        10.5

      

        MAIDEN
          HOLDINGS, LTD.

         

        Form
          of Share Option Agreement

        
        

        1. Grant
          of Option.

         

        Maiden
          Holdings, Ltd., a Bermuda Holding company (the “Company”), hereby grants to
          [  ]
          (the
“Participant”) an Option to purchase an aggregate of [  ]
          Ordinary Shares, $.01 par value, of the Company, at a price of
          $[ ]
          per
          share, purchasable as set forth in and subject to the terms and conditions
          herein. The date of grant of this Option is [  ]
          (“Award
          Date”). This Option for non-qualified shares (“NSO”) has been duly granted by
          the Company’s Board of Directors pursuant to the Company’s 2007 Share Incentive
          Plan (the “Plan”) and subject to the terms and provisions thereof. Any
          capitalized terms not defined herein shall have the meaning set forth in
          the
          Plan.

         

        2. Exercise
          of Option and Provisions for Termination.

         

        (a) Except
          as
          otherwise provided herein and subject to the right of cumulation provided
          herein, this Option may be exercised, prior to the 10th
          anniversary of the Award Date, as to not more than the following number
          of
          shares covered by this option during the respective periods set forth
          below:

         

        
          	
                  Number
                    of Months 

                  From
                    Award Date

                	
                  Vested
                    Percentage

                	
                  Number
                    of 

                  NSO
                    Shares

                
	
                  0
                    up to 12

                	
                  [       
                    ]%

                	
                  [       
                    ]

                
	
                  12
                    through 10th

                	
                  [       
                    ]%

                	
                  [       
                    ]

                
	
                  Anniversary
                    of 

                  Award
                    Date

                	 	 

        

        

        (b) The
          right
          of exercise provided herein shall be cumulative so that if the Option were
          not
          exercised to the maximum extent permissible during any such period it shall
          be
          exercisable, in whole or in part, with respect to all shares not so purchased
          at
          any time during any subsequent period prior to the expiration or termination
          of
          this Option. This Option may not be exercised at any time after the
          10th
          anniversary of the Award Date.

         

        (c) Subject
          to the terms and conditions hereof, this Option shall be exercisable by
          Participant giving written notice of exercise to the Company on a form
          acceptable to the Company, specifying the number of shares to be purchased
          and
          the purchase price to be paid therefore and accompanied by payment in accordance
          with Section 3 hereof. Such exercise shall be effective upon receipt by
          the
          Treasurer of the Company of the written notice together with the required
          payment. Participant shall be entitled to purchase fewer than the number
          of
          shares purchasable hereunder at the date of exercise, provided that no
          partial
          exercise of this Option shall be for fewer than 100 shares.

           

        
          (d) This
            Option shall become fully vested if Participant’s service on the Board of
            Directors is terminated due to: (i) retirement on or after the Participant’s
            sixty-fifth birthday; (ii) retirement on or after the Participant’s fifty-fifth
            birthday with the consent of the Company; (iii) retirement at any age
            on account
            of total and permanent disability as determined by the Company; or
            (iv) death.

          

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        (e) Except
          as
          provided in Subsection (d), this Option shall terminate immediately if
          Participant’s service on the Board of Directors is terminated for any reason;
provided,
          however,
          that
          except in the event of termination for Cause, death, total and permanent
          disability, or the sale, merger or consolidation, or similar extraordinary
          transaction involving the Company, any portion of this Option which was
          otherwise exercisable on the date of termination of such service may be
          exercised within the three-month period following the date of such termination,
          but in no event after the 10th
          anniversary of the Award Date. Any such exercise may be made only to the
          extent
          of the number of shares subject to this Option, which are purchasable upon
          the
          date of such termination.

         

        (f) In
          the
          event of death or total and permanent disability, this Option shall be
          exercisable within twelve months of the date of death or such disability
          by the
          Participant or, if applicable, by Participant’s personal representatives, heirs
          or legatees, to the same extent that Participant could have exercised this
          Option on the date of death or such disability.

         

        3. Payment
          of Purchase Price.

         

        (a) Payment
          of the Option Price for shares purchased upon exercise of this Option shall
          be
          made by delivery to the Company of cash or check payable to the order of
          the
          Company in an amount equal to the Option Price of such shares or, within
          the
          sole discretion of the Company, any other method of payment permitted by
          law,
          including, but not limited to, delivery of Ordinary Shares of the Company
          having
          an aggregate Fair Market Value as determined on the date of delivery equal
          to
          the Option Price of such shares.

         

        (b) For
          purposes, hereof, the Fair Market Value of any shares of the Company’s Ordinary
          Shares to be delivered to the Company in exercise of this Option shall
          be
          determined in accordance with the Plan.

         

        (c) If
          Participant, with the approval of the Company, elects to exercise this
          Option by
          delivery of Ordinary Shares of the Company, the certificate or certificates
          representing the Ordinary Shares of the Company to be delivered shall be
          duly
          executed in blank, with signature guaranteed, by Participant or shall be
          accompanied by a stock power, executed in blank suitable for purposes of
          transferring such shares to the Company. Fractional Ordinary Shares of
          the
          Company will not be accepted in payment of the purchase price of shares
          acquired
          upon exercise of this Option.

         

        4. Delivery
          of Shares.

         

        The
          Company shall, upon payment of the Option Price for the number of shares
          purchased and paid for, make prompt delivery of such shares to Participant;
          provided, that if any law or regulation requires the Company to take any
          action
          with respect to such shares before the issuance thereof, then the date
          of
          delivery of such shares shall be extended for the period necessary to complete
          such action. No shares shall be issued and delivered upon exercise of this
          Option unless and until, in the opinion of counsel for the Company, any
          applicable registration requirements of the Securities Act of 1933, any
          applicable listing requirements of any national securities exchange on
          which
          shares of the same class are then listed, and any other requirements of
          law or
          of any regulatory bodies having jurisdiction over such issuance and delivery,
          shall have been fully complied with.

         

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

        5. Non-transferability
          of Option.

         

        This
          Option is transferable by will or by the laws of descent and distribution
          or
          pursuant to a qualified domestic relations order. With the approval of
          the
          Committee (as defined in the Plan) or the Board of Directors, Participant
          may
          transfer the Option for no consideration to or for the benefit of one or
          more
          Family Members of the Participant subject to such limits as the Committee
          or the
          Board of Directors may establish, and the transferee shall remain subject
          to all
          the terms and conditions applicable to the Option prior to such transfer.
          

         

        6. Rights
          as a Shareholder.

         

        Participant
          shall have no rights as a shareholder with respect to any shares which
          may be
          purchased upon exercise of this Option unless and until a certificate or
          certificates representing such shares are duly issued and delivered to
          him.
          Except as otherwise expressly provided herein, no adjustments shall be
          made for
          dividends or other rights for which the record date is prior to the date
          such
          share certificate is issued.

         

        7. Recapitalization.

         

        If
          there
          is any change in the corporate structure or shares of the Company, the
          Committee
          or the Board of Directors shall make any appropriate adjustments, including,
          but
          not limited to, such adjustments deemed necessary to prevent accretion,
          or to
          protect against dilution, in the number and kind of Ordinary Shares covered
          by
          this Option and in the applicable Option Price. 

         

        8. Extraordinary
          Corporate Transaction.

         

        In
          the
          event of an extraordinary dividend or other distribution, merger,
          reorganization, consolidation, combination, sale of assets, split up, exchange
          or spin off or other extraordinary corporate transaction, the Committee
          or the
          Board of Directors may, in such manner and to such extent (if any) as it
          deems
          appropriate and equitable make provision for a cash payment or for the
          substitution or exchange of the Option or the cash, securities or property
          deliverable to the Participant pursuant to the Option based upon the
          distribution or consideration payable to holders of Ordinary Shares upon
          or in
          respect of such event; provided, however, that no such adjustment may be
          made
          that would cause the Plan to violate Section 422 of the United States Internal
          Revenue Code of 1986, as amended from time to time, or any successor
          thereto.

         

        9. Investment
          Representation, Etc.

         

        (a) Participant
          represents that any shares purchased upon the exercise of this Option shall
          be
          acquired by Participant for his own account for investment and not with
          a view
          to or for sale in connection with, any distribution of such shares, nor
          with any
          present intention of distributing or selling such shares. Participant further
          represents that he has made detailed inquiry concerning the Company, that
          the
          officers of the Company have made available to Participant any and all
          written
          information which Participant has requested, that the officers of the Company
          have answered to Participant’s satisfaction all inquires made by him and that he
          has such knowledge and experience in financial and business matters that
          he is
          capable of evaluating the merits and risks of an investment in the Company’s
          Ordinary Shares and able to bear the economic risk of that investment.
          By making
          payment upon exercise of this Option, Participant shall be deemed to have
          reaffirmed, as of the date of such payment, the representations made in
          this
          Section 0.

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

        (b) All
          share
          certificates representing Ordinary Shares issued to Participant upon exercise
          of
          this Option shall, at the election of the Company, have affixed thereto
          a legend
          substantially in the following form:

         

        “The
          ordinary shares represented by this certificate have not been registered
          under
          the Securities Act of 1933 and may not be transferred, sold or otherwise
          disposed of in the absence of an effective registration statement with
          respect
          to the shares evidenced by this certificate, filed and made effective under
          the
          Securities Act of 1933, or an opinion of counsel satisfactory to the Company
          to
          the effect that registration under such Act is not required.”

         

        10. Miscellaneous.

         

        (a) Except
          as
          provided herein, this Agreement may not be amended or otherwise modified
          unless
          evidenced in writing and signed by the Company and Participant.

         

        (b) All
          notices under this Agreement shall be mailed or delivered by hand to the
          parties
          at their respective addresses set forth beneath their names below or at
          such
          other address as may be designated in writing by either of the parties
          to one
          another.

         

        (c) Nothing
          contained herein shall be deemed an undertaking by the Company to continue
          Participant’s service on the Board of Directors.

         

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

        

         

        (d) This
          Agreement shall be governed by and construed in accordance with the laws
          of
          Bermuda without regard to any conflicts or choice of law rules or principles
          that might otherwise refer construction or interpretation of this Agreement
          to
          the substantive law of another jurisdiction.

         

        Dated:
          [  ]

        MAIDEN
          HOLDINGS, LTD.

         

        By                                

         

         

        
          	 	
                  Title:

                	
                   

                

        

        
          	 	
                  Address:

                	
                  7
                    Reid Street 

                

        

        
          	 	 	
                  Hamilton
                    HM 11 

                

        

        
          	 	 	
                  Bermuda

                

        

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

        PARTICIPANT’S
          ACCEPTANCE 

         

        The
          undersigned hereby accepts the foregoing Option and agrees to the terms
          and
          conditions thereof.

         

         

        PARTICIPANT:

         

        Signature                    

        [                ]

         

        Date                    

        

        Address:                    

                            

                            

        

        
          
            
            

          

          
            6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]