Common use of Inducement Grant Clause in Contracts

Inducement Grant. On the Effective Date, the Company shall also grant to Executive, under the Stock Plan, 25,250 shares of restricted stock and an option to purchase 33,150 shares of Company stock (the “Inducement Grant”). The Inducement Grant shall be made in accordance with, and subject to, the terms of the Stock Plan and applicable law. The stock option award portion of the Inducement Grant shall vest in four (4) equal installments on each of the first four (4) anniversaries of the grant date, and will be in the form and substance as set forth in Exhibit C to this Agreement. The restricted stock award portion of the Inducement Grant will be in the form and substance as set forth in Exhibit D to this Agreement.