Common use of GRANT OF ADDITIONAL OPTIONS Clause in Contracts

GRANT OF ADDITIONAL OPTIONS. (a) Section 2 of the Option Agreement is hereby amended by adding a new sentence to the end thereof, which shall read as follows: "The Corporation hereby grants to the Executive an additional 25,000 Options, 50% of which shall be Tranche A Options, 25% of which shall be Tranche B Options and 25% of which shall be Tranche C Options (collectively, the "NEW OPTIONS")." (b) The Option Agreement is hereby amended by amending the term "OPTION" each time it appears therein to mean the Existing Options and the New Options.

GRANT OF ADDITIONAL OPTIONS. (a) Section 2 of the Option Agreement is hereby amended by adding a new sentence to the end thereof, which shall read as follows: "The Corporation hereby grants to the Executive an additional 25,000 20,000 Options, 50% of which shall be Tranche A Options, 25% of which shall be Tranche B Options and 25% of which shall be Tranche C Options (collectively, the "NEW OPTIONS")." (b) The Option Agreement is hereby amended by amending the term "OPTION" each time it appears therein to mean the Existing Options and the New Options.