Common use of Amendment to Section 7.1 Clause in Contracts

Amendment to Section 7.1. Section 7.1 of the Agreement shall be revised to add the provisions set forth below to the end of the Section: On December 2, 2011, Executive shall receive an option to purchase that number of shares of common stock equal to the quotient obtained by dividing: (A) the difference between the employee’s gross monthly base salary in effect as of November 30, 2011 and $2800, by (B) the closing trading price of the Company’s common stock on December 2, 2011. The exercise price of the stock option shall be equal to the closing trading price of the Company’s common stock on December 2, 2011. The option, which shall be an incentive stock option for purposes of section 422 of the Code to the maximum extent permitted, and otherwise shall be treated as a non-qualified stock option, shall vest in full on December 31, 2011, provided that Executive has not incurred a Termination of Service (as defined in the Plan) before December 31, 2011. The specific terms and conditions of the option shall be as set forth in the Plan and the standard form of stock option agreement, which the Executive hereby agrees to execute.

Amendment to Section 7.1. Section 7.1 of the Agreement shall be revised to add the provisions set forth below to the end of the Section: On December 2, 2011, Executive shall receive an option to purchase that number of shares of common stock equal to the quotient obtained by dividing: (A) the difference between the employee▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇’s gross ▇▇▇▇▇ monthly base salary in effect as of November 30, 2011 and $2800, by (B) the closing trading price of the Company’s common stock on December 2, 2011. The exercise price of the stock option shall be equal to the closing trading price of the Company’s common stock on December 2, 2011. The option, which shall be an incentive stock option for purposes of section 422 of the Code to the maximum extent permitted, and otherwise shall be treated as a non-qualified stock option, shall vest in full on December 31, 2011, provided that Executive has not incurred a Termination of Service (as defined in the Plan) before December 31, 2011. The specific terms and conditions of the option shall be as set forth in the Plan and the standard form of stock option agreement, which the Executive hereby agrees to execute.