Common use of Inducement Grant Clause in Contracts

Inducement Grant. Subject to approval by the Company’s Board and as a material inducement to you agreeing to become employed by the Company, as soon as practicable following the Effective Date, the Company will grant you nonqualified stock options to purchase a number of shares of the Company’s common stock equal to 1.00% of the total outstanding shares of the Company’s common stock as of the Effective Date with an exercise price equal to the fair market value of the underlying shares on the date of grant as determined by the Board (the “Inducement Options”). The Inducement Options will vest over a four-year period following your grant date, with 25% of the Inducement Options vesting on the first anniversary of your grant date, and the remainder vesting in 36 equal monthly installments on each monthly anniversary thereafter, in each case, subject to your continued services with the Company through the applicable vesting dates. The Inducement Options will be governed by the terms of the related award agreement, the Company’s 2018 Equity Inducement Plan and the terms and conditions approved by the Board. The Inducement Options will be granted in compliance with NASDAQ Listing Rule 5635(c)(4) as a material inducement to you entering into employment with the Company.

Inducement Grant. Subject to approval by the Company’s independent members of the Board of Directors of the Company (the “Board”) or the Compensation Committee of the Board and as a material inducement to you agreeing to become employed by your entering into employment with the Company, as soon as practicable following the Effective Date, the Company will grant you nonqualified non-qualified stock options to purchase a number of shares of the Company’s common stock equal to 1.00% of the total outstanding 400,000 shares of the Company’s common stock as of soon as practicable following the Effective Date and with an exercise price equal to the fair market value of the underlying shares on the date of grant as determined by the Board (the “Inducement Options”). The Inducement Options will vest over a four-year period following your grant date, with 25% of the Inducement Options vesting on the first anniversary of your grant date, and the remainder vesting in 36 equal monthly installments on each monthly anniversary thereafter, in each case, subject to your continued services service with the Company through the applicable vesting datesdates except as otherwise set forth herein. The Inducement Options will be governed by the terms of the related award agreement, the Company’s 2018 Equity Inducement Plan Plan, and the terms and conditions approved by the Board. The Inducement Options will be granted in compliance with NASDAQ Listing Rule 5635(c)(4) as a material inducement to you your entering into employment with the Company.