Common use of Equity Participation Clause in Contracts

Equity Participation. Effective on the effective date of the Business Combination, the Executive shall be granted a stock option to acquire _______shares of the Common Stock of the Company, subject to the terms and conditions of the stock option agreement between the Company and the Executive dated as of the date hereof and the Company's 1996 Long-Term Incentive Plan. In addition, the Executive shall be entitled to receive awards under any other stock option or equity based incentive compensation plan or arrangement adopted by the Company during the Employment Period for which senior executives are eligible. The level of the executive's future participation in any such plan or arrangement shall be in the sole discretion of the Board.

Equity Participation. Effective on the effective date of the Business Combination, the Executive shall be granted a stock option to acquire _______140,000 shares of the Common Stock of the Company, subject to the terms and conditions of the stock option agreement between the Company and the Executive dated as of the date hereof and the Company's 1996 Long-Term Incentive Plan. In addition, the Executive shall be entitled to receive awards under any other stock option or equity based incentive compensation plan or arrangement adopted by the Company during the Employment Period for which senior executives are eligible. The level of the executive's future participation in any such plan or arrangement shall be in the sole discretion of the Board.

Equity Participation. Effective on the effective date of the Business Combination, the Executive shall be granted a stock option to acquire _______70,000 shares of the Common Stock of the Company, subject to the terms and conditions of the stock option agreement between the Company and the Executive dated as of the date hereof and the Company's 1996 Long-Term Incentive Plan. In addition, the Executive shall be entitled to receive awards under any other stock option or equity based incentive compensation plan or arrangement adopted by the Company during the Employment Period for which senior executives are eligible. The level of the executive's future participation in any such plan or arrangement shall be in the sole discretion of the Board.