Common use of Incentive Equity Clause in Contracts

Incentive Equity. After beginning his employment, the Executive will have the right to participate in the stock option plan of the Company’s indirect parent, Archipelago Learning, Inc. (“ARCL”), with an initial grant of 125,000 stock options. The grant will vest over 4 years, with 25% of such options vesting on each anniversary of the date of issuance. The form, terms and provisions applicable to such options shall be as set forth in the applicable option agreement, any applicable grant notice and the 2009 Omnibus Incentive Plan of ARCL.

Incentive Equity. After beginning his employment, the The Executive will have the right to participate in the stock option plan of the Company’s indirect parent, Archipelago Learning, Inc. (“ARCL”), with an initial grant of 125,000 50,000 stock options. The grant will vest over 4 years, with 25% of such options vesting on each anniversary of the date of issuance. The form, terms and provisions applicable to such options shall be as set forth in the applicable option agreement, any applicable grant notice and the 2009 Omnibus Incentive Plan of ARCL.