Common use of Additional Stock Options Clause in Contracts

Additional Stock Options. On the Effective Date, the Employee ------------------------ shall be granted a compensatory stock option for 225,000 shares of the Company's restricted Common Stock at an exercise price per share of $1.00 for the first 25,000 shares and $2.00 per share for the next 200,000 shares (the "Initial Option"). The Initial Option shall be vested as to 25,000 shares on the Effective Date. As to the remaining 200,000 shares and provided the Employee continues to be engaged under this Agreement on each of the vesting dates, the remainder of the Initial Option shall vest in the following manner: 66,666 shares on the one year anniversary of the Effective Date (February 20, 2001), and thereafter 1/24 of the remaining shares subject to the Initial Option each month the Employee continues to be engaged under this Agreement. The Initial Option shall be fully vested on the third anniversary of the Effective Date. The Initial Option cannot be transferred by the Employee except in the event of her death, and must be exercised by the Employee (or in the event of her death, by her estate or such other designee) within ten (10) years from the Effective Date. Forms of permissible consideration to purchase the shares of restricted common stock on exercise of the Initial Option shall be cash, cashless exercise (also called net zero transaction), recourse promissory note and such other forms of consideration with which other executives have or are given the opportunity to purchase shares. In the event that the number of outstanding shares of the Company's common stock is changed by a stock dividend, recapitalization, stock split or similar change in the capital structure of the Company without consideration, then the number of shares subject to the Initial Option will be proportionately adjusted.

Additional Stock Options. On the Effective Date, the Employee ------------------------ shall be granted a compensatory stock option for 225,000 shares of the Company's restricted Common Stock at an exercise price per share of $1.00 for the first 25,000 shares and $2.00 per share for the next 200,000 shares (the "Initial Option"). The Initial Option shall be vested as to 25,000 shares on the Effective Date. As to the remaining 200,000 shares and provided the Employee continues to be engaged under this Agreement on each of the vesting dates, the remainder of the Initial Option shall vest in the following manner: 66,666 75,000 shares on the one year anniversary of the Effective Date (February 20June 16, 2001), and thereafter 1/24 of the remaining shares subject to the Initial Option each month the Employee continues to be engaged under this Agreement. The Initial Option shall be fully vested on the third anniversary of the Effective Date. The Initial Option cannot be transferred by the Employee except in the event of her his death, and must be exercised by the Employee (or in the event of her his death, by her his estate or such other designee) within ten (10) years from the Effective Date. Forms of permissible consideration to purchase the shares of restricted common stock on exercise of the Initial Option shall be cash, cashless exercise (also called net zero transaction), recourse promissory note and such other forms of consideration with which other executives have or are given the opportunity to purchase shares. In the event that the number of outstanding shares of the Company's common stock is changed by a stock dividend, recapitalization, stock split or similar change in the capital structure of the Company without consideration, then the number of shares subject to the Initial Option will be proportionately adjusted.

Additional Stock Options. On the Effective Date, the Employee ------------------------ shall be granted a compensatory stock option for 225,000 390,000 shares of the Company's restricted Common Stock at an exercise price per share of $1.00 for the first 25,000 shares and $2.00 per share for the next 200,000 365,000 shares (the "Initial Option"). The Initial Option shall be vested as to 25,000 shares on the Effective Date. As to the remaining 200,000 365,000 shares and provided the Employee continues to be engaged under this Agreement on each of the vesting dates, the remainder of the Initial Option shall vest in the following manner: 66,666 121,666 shares on the one year anniversary of the Effective Date (February 20, 2001), and thereafter 1/24 of the remaining shares subject to the Initial Option each month the Employee continues to be engaged under this Agreement. The Initial Option shall be fully vested on the third anniversary of the Effective Date. The Initial Option cannot be transferred by the Employee except in the event of her his death, and must be exercised by the Employee (or in the event of her his death, by her his estate or such other designee) within ten (10) years from the Effective Date. Forms of permissible consideration to purchase the shares of restricted common stock on exercise of the Initial Option shall be cash, cashless exercise (also called net zero transaction), recourse promissory note and such other forms of consideration with which other executives have or are given the opportunity to purchase shares. In the event that the number of outstanding shares of the Company's common stock is changed by a stock dividend, recapitalization, stock split or similar change in the capital structure of the Company without consideration, then the number of shares subject to the Initial Option will be proportionately adjusted.