Common use of Beginning with Clause in Contracts

Beginning with. 2007 and continuing for so long as you remain employed pursuant to this Agreement, you will receive an annual award of stock options with a value, determined under FAS 123(R) in the same manner as used for Employer's financial statements, of Six Million Dollars ($6,000,000). Each award of stock options will have a per share exercise price equal to the closing price of the Shares on the date of grant and will vest in four equal annual installments on the first four anniversaries of the grant date assuming that your employment with Employer continues through the relevant vesting date (but subject to accelerated vesting as provided in this Agreement). Each annual award of stock options pursuant to this paragraph 4(a)(ii) will be made to you at the same time that Employer awards stock options to its other senior executives, but no later than May 1 of each calendar year.

Beginning with. 2007 and continuing for so long as you remain employed pursuant to this Agreement, you will receive an annual award of stock options with a value, determined under FAS 123(R) in the same manner as used for Employer's financial statements, of Six Four Million Eight Hundred Thousand Dollars ($6,000,0004,800,000). Each award of stock options will have a per share exercise price equal to the closing price of the Shares on the date of grant and will vest in four equal annual installments on the first four anniversaries of the grant date assuming that your employment with Employer continues through the relevant vesting date (but subject to accelerated vesting as provided in this Agreement). Each annual award of stock options pursuant to this paragraph 4(a)(ii) will be made to you at the same time that Employer awards stock options to its other senior executives, but no later than May 1 of each calendar year.