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elsewhere in the Agreement shall preclude Optionee from entering into agreements or other <br /> arrangements, but only after the Closing, with the Tenant to provide alternative compensation or <br /> benefits to the Tenant in lieu of providing such Relocation Benefits to the extent permitted by <br /> applicable law. <br /> 26. Offer and Acceptance. Owner has executed and delivered this Agreement as of <br /> the Agreement Date. Owner's execution and delivery of this Agreement to Optionee constitutes <br /> an offer to Optionee on the terms and conditions set forth in this Agreement (the "Offer "). The <br /> Offer may be accepted only (a) following approval of the transactions contemplated by this <br /> Agreement by the City Council of The City of Redwood City and (b) by Optionee's execution of <br /> this Agreement in the signature block set forth below and the delivery of this Agreement to <br /> Owner. If Optionee does not accept the Offer by executing this Agreement and delivering it to <br /> Owner on or before October 20, 2010, Owner shall have the right to revoke the Offer by written <br /> notice to Optionee. <br /> [Remainder of this page intentionally left blank] <br /> Option Agreement 70 Chemical <br /> 10.05.2010 v.5 <br /> 29 <br />