Grant of Subsequent Options. In connection with his continued employ ment by the Company, on the first anniversary of the Commencement Date, and on each of the subsequent anniversaries thereof during the Employment Term, the Company agrees to grant the Employee options ("Subsequent Options") to purchase 10,000 shares of Common Stock at a purchase price equal to the Fair Market Value (as defined in (d) below) of the Common Stock on the date of grant, which options shall vest in twenty-five percent increments over a four-year period with the first twenty-five percent to vest on the first anniversary of the date of grant. Each grant of these Subsequent Options shall be pursuant to specific terms set forth in a stock option agreement between the Company and the Employee.
Grant of Subsequent Options. In connection with his continued employment by the Company, on the first anniversary of the Commencement Date, and on each of the subsequent anniversaries thereof during the Employment Term, the Company agrees to grant the Employee options ("Subsequent Options") to purchase shares of Common Stock at a purchase price equal to the fair market value of the Common Stock on the date of grant in accordance with any Company policy that may be applicable for senior executive employees from time to time. Each grant of these Subsequent Options shall be pursuant to specific terms set forth in a stock option agreement between the Company and the Employee.
Grant of Subsequent Options. In connection with her continued employment by the Company, on the first anniversary of the Commencement Date, and on each of the subsequent anniversaries thereof during the Employment Term, the Company agrees to grant the Employee options ("Subsequent Options") to purchase at least 45,000 shares (as adjusted equitably for stock dividends, stock splits, combinations, etc.) of Common Stock at a purchase price equal to the Fair Market Value (as defined in (f) below) of the Common Stock on the date of grant, which options shall vest in twenty-five
Grant of Subsequent Options. In connection with his continued employment by the Company, on the first anniversary of the Commencement Date, and on each of the subsequent anniversaries thereof during the Employment Term, the Company agrees to grant the Employee options ("Subsequent Options") to purchase a minimum of 10,000 shares (as adjusted equitably for stock dividends, stock splits, combinations, etc.) of Common Stock at a purchase price equal to the Fair Market Value (as defined in (d) below) of the Common Stock on the pertinent anniversaries. The Subsequent Options shall vest in accordance with the following schedule: 25% shall vest one year from the grant date of the Subsequent Options during the Employment 2 3 Term, and options to purchase the remaining shares issued pursuant to each grant of the Subsequent Options shall vest in equal increments over the subsequent 36 months, as more fully described in 5(b) above. Each grant of these Subsequent Options shall be pursuant to specific terms set forth in a stock option agreement between the Company and the Employee.
