Common use of Grant of Stock Option Clause in Contracts

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 shares of Common Stock at a per-share purchase price of $1.20, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 shares of Common Stock at a per-share purchase price of $1.201.43, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 12,750 shares of Common Stock at a per-share purchase price of $1.201.43, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 200,000 shares of Common Stock at a per-share purchase price of $1.201.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 shares of Common Stock at a per-share purchase price of $1.201.28, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 21,250 shares of Common Stock at a per-share purchase price of $1.201.01, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 40,000 shares of Common Stock at a per-share purchase price of $1.20.80, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 100,000 shares of Common Stock at a per-share purchase price of $1.201.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 120,000 shares of Common Stock at a per-share purchase price of $1.20.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 150,000 shares of Common Stock at a per-share purchase price of $1.200.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 600,000 shares of Common Stock at a per-share purchase price of $1.200.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 250,000 shares of Common Stock at a per-share purchase price of $1.201.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 50,000 shares of Common Stock at a per-share purchase price of $1.201.01, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 30,000 shares of Common Stock at a per-share purchase price of $1.201.43, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 12,750 shares of Common Stock at a per-share purchase price of $1.20, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 50,000 shares of Common Stock at a per-share purchase price of $1.200.75, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 28,750 shares of Common Stock at a per-share purchase price of $1.201.01, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 25,000 shares of Common Stock at a per-share purchase price of $1.200.47, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 60,000 shares of Common Stock at a per-share purchase price of $1.20.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 30,000 shares of Common Stock at a per-share purchase price of $1.201.28, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 12,750 shares of Common Stock at a per-share purchase price of $1.201.28, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Company hereby grants to Optionee the right to purchase 17,250 30,000 shares of Common Stock at a per-share purchase price of $1.20, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share is equal to the fair market value of the common stock on the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance of the option by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 100,000 shares of Common Stock at a per-share purchase price of $1.200.70, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.

Grant of Stock Option. PURCHASE PRICE; VESTING; EXPIRATION DATE. The Subject to any vesting schedule attached hereto, the Company hereby grants to Optionee the right to purchase 17,250 100,000 shares of Common Stock at a per-share purchase price of $1.20.50, pursuant to the terms, provisions and conditions of this Agreement (the shares of Common Stock pursuant to which Optionee shall acquire the right to purchase are referred to hereinafter as the "Option Shares"). The exercise price of each such Option Share If no vesting schedule is equal to attached hereto or if an attached vesting schedule does not provide for specifics regarding the fair market value vesting of the common stock on option granted hereby, the day of such grant. The option granted hereby shall become vested and exercisable with respect to all of such Option Shares immediately upon the issuance execution and delivery of the option this Agreement by the Company pursuant to the terms of a certain Second Engagement Letter To Hire Services made effective October 1, 2003Company. The option granted hereunder shall expire with respect to any particular Option Shares Five (5) years after such option becomes vested with respect to such shares. In the event of Optionee's death prior to the otherwise applicable expiration date, the option created by this Agreement (to the extent then vested) shall be exercisable for one year after Optionee's death by the legal representative of the estate of Optionee or the person(s) who acquires the rights of Optionee hereunder by bequest or inheritance as a result of the death of Optionee.