Common use of Initial Equity Grant Clause in Contracts

Initial Equity Grant. In addition to any other equity-based compensation or equity awards the Company or any other member of the Company Group grants to Executive on or after the Effective Date, the Company shall grant to Executive, as soon as practicable following the Effective Date, nonqualified options to purchase a total of three million(3,000,000) shares of the Company’s common stock, par value $0.001 (collectively, the “Shares” and each, individually, a “Share”), at a price of fifty-five cents ($0.55) per Share which the parties agree reflects the fair market value of the Shares. Such options shall be granted pursuant to an option plan and award agreements which shall include the following terms: (a) Two million, five hundred thousand (2,500,000) Shares (the “Service Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Service Option shall have a term of ten (10) years from the date of grant (the “Service Option Expiration Date”); and (ii) the Service Option shall vest as to one-twelfth (1/12) of the Shares three (3) months after the Effective Date, and as to an additional one-twelfth (1/12) of the Shares on such date every third month thereafter through the date three (3) years after the Effective Date. Each tranche of Shares subject to the Service Option shall become exercisable on the earlier of (i) one (1) year after the date each tranche shall vest, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a “Change of Control” (as defined in the Company’s 2016 Equity Incentive Plan) any unvested portion of the Service Option shall vest and become exercisable effective immediately prior to such event. (b) Five hundred thousand (500,000) Shares (the “Performance Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Performance Option shall have a term of ten (10) years from the date of grant (the “Performance Option Expiration Date”); and (ii) the Performance Option shall vest as to one hundred percent (100%) of the Shares subject thereto if, and only if, prior to the third anniversary of the Effective Date, the Shares have traded at a price of ten dollars ($10.00) per Share, or more, for a period of ninety (90) consecutive trading days during which an average of at least 500,000 shares are traded per day. The Performance Option shall cease to vest upon Executive’s termination of employment for any reason other than death, Disability or an involuntary termination without Cause or for Good Reason (each as defined in Section 7), in which case the Performance Option shall cease to vest on the first anniversary of the Executive’s termination of employment unless the performance conditions in the preceding sentence have been satisfied prior to such date. The Performance Option shall become exercisable on the earlier of (i) one (1) year after the vesting date, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a Change of Control, if the Performance Option criteria has been satisfied prior to such date, or if the Share value achieved in the Change in Control is at or above ten dollars ($10.00) per Share, the Performance Option shall be vested and exercisable immediately prior to such Change in Control.

Initial Equity Grant. (a) In addition to any other equity-based compensation or equity awards of the Company or any other member of the Company Group grants granted to Executive on or after the Effective Date, the Company shall grant to Executive, as soon as practicable following the Effective Date, nonqualified options to purchase a total of three million(3,000,000million five hundred thousand (3,500,000) shares of the Company’s common stock, par value $0.001 (collectively, the “Shares” and each, individually, a “Share”), at a price of fifty-five cents ($0.55) per Share which equal to the parties agree reflects Public Offering Price or, if higher, the fair market value of the SharesShares on the date of grant. Such options shall be granted pursuant to an option plan and award agreements which shall include the following terms: (ab) Two million, five hundred thousand million (2,500,0002,000,000) Shares (the “Service Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Service Option shall have a term of ten (10) years from the date of grant (the “Service Option Expiration Date”); and (ii) the Service Option shall vest as to one-twelfth (1/12) of the Shares three (3) months after the Effective Date, and as to an additional one-twelfth (1/12) of the Shares on such date every third month thereafter through the date three (3) years after the Effective Date. Each Date and each tranche of Option Shares subject to the Service Option shall become exercisable on the earlier of (i) one (1) year after the date each tranche shall vest, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a “Change of Control” (as defined in the Company’s 2016 Equity Incentive Plan) any unvested portion of the Service Option shall vest and become exercisable effective immediately prior to such event. (bc) Five One million five hundred thousand (500,0001,500,000) Shares (the “Performance Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Performance Option shall have a term of ten (10) years from the date of grant (the “Performance Option Expiration Date”); and (ii) the Performance Option shall vest as to one hundred percent (100%) of the Option Shares subject thereto if, and only if, prior to the third anniversary of the Effective Date, the Company Shares have traded at a price of ten dollars ($10.00) per Share, or more, for a period of ninety (90) consecutive trading days during which an average of at least 500,000 shares are traded per day. The Performance Option shall cease to vest upon Executive’s termination of employment for any reason other than death, Disability or an involuntary termination without Cause or for Good Reason (each as defined in Section 7), in which case the Performance Option shall cease to vest on the first anniversary of the Executive’s termination of employment unless the performance conditions in the preceding sentence have been satisfied prior to such date. The Performance Option shall become exercisable on the earlier of (i) one (1) year after the vesting date, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoingprovided that, in the event of a Change of Control, if the Performance Option criteria has been satisfied vested prior to such date, or if the Share value achieved in the Change in Control is at or above ten dollars ($10.00) per Share, the Performance Option it shall be vested and exercisable immediately prior to such Change in Controlexercisable.

Initial Equity Grant. In The following is in addition to any other equity-based compensation or equity awards the Company or any other member of the Company Group grants to Executive on or after the Effective DateDate (including any Other Equity Awards, as defined in Section 8.1): (a) The Company acknowledges and confirms that prior to the Effective Date the Company shall grant granted to Executive, as soon as practicable following the Effective Date, Executive nonqualified options (the “Options”) to purchase a total of three million(3,000,000hundred fifty thousand (350,000) shares of the Company’s common stock, par value $0.001 (collectively, the “Shares” ”, and each, individually, a “Share”), at a an exercise price of fifty-five cents equal to Four and 00/100 Dollars ($0.55) per Share which the parties agree reflects the fair market value of the Shares4.00). Such options shall be granted pursuant to an option plan and award agreements which shall include the following terms: (a) Two million, five hundred thousand (2,500,000) Shares (the “Service Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: The Options (i) the Service Option shall have a term of ten (10) years from the date of grant (the “Service Option Expiration Date”); grant, and (ii) the Service Option shall subject to Article 8, vest annually starting on January 31, 2018 as to one-twelfth third (1/121/3) of the Shares three every anniversary thereafter (3) months after such that the Effective DateOptions shall be fully vested as of January 31, and 2021), provided that on each such vesting date, Executive is employed by the Company (except as otherwise provided in Article 8). Subject to an additional one-twelfth (1/12) of the Shares on such date every third month thereafter through the date three (3) years after the Effective Date. Each Article 8, each tranche of Shares subject to the Service Option Options shall become exercisable on the earlier of (ix) one (1) year after the date each tranche shall vest, (iiy) the second anniversary of the Effective Date, or (iiiz) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a “Change of Control” (as defined in the Company’s 2016 Equity Incentive PlanPlan (the “2016 EIP”)) any unvested portion of the Service Option Options shall vest and become exercisable effective immediately prior to such event. (b) Five In addition to the Options, the Company shall grant to Executive, as soon as practicable following the Effective Date, five hundred thousand (500,000) Shares restricted stock units (“RSUs”). Subject to Article 8, the “Performance Option”) RSUs shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) a number of RSUs equal to the Performance Option Initial Vested Amount (as hereinafter defined) shall have a term vest on the later of ten (10A) years from the date six (6) months after the Effective Date and (B) the earlier of grant (x) the expiration of any “lock up” agreement in respect of shares of capital stock of the Company to which Executive is subject, and (y) June 30, 2019 (the applicable date determined pursuant to clauses (A) and (B) above, (the “Performance Option Expiration Initial Vesting Date”); and (ii) a number of RSUs equal to the Performance Option Additional Vested Amount (as hereinafter defined) shall vest as to one hundred percent on such date every three (100%3) of months thereafter through the Shares subject thereto if, and only if, prior to the third anniversary of date three (3) years after the Effective Date, provided that on a particular vesting date Executive is employed by the Shares have traded at a price of ten dollars Company ($10.00) per Share, or more, for a period of ninety (90) consecutive trading days during which an average of at least 500,000 shares are traded per dayexcept as other provided in Article 8). The Performance Option shall cease to vest upon Executive’s termination of employment for any reason other than death, Disability or RSUs will be evidenced by an involuntary termination without Cause or for Good Reason Award Agreement (each as defined in Section 7), in the 2016 EIP) between the Company and Executive and the provisions of which case the Performance Option shall cease to vest on the first anniversary of the Executive’s termination of employment unless the performance conditions in the preceding sentence have been satisfied prior to such date. The Performance Option shall become exercisable on the earlier of (i) one (1) year after the vesting date, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Companycomply with this Agreement. Notwithstanding the foregoing, in the event of a “Change of Control, if the Performance Option criteria has been satisfied prior to such date, or if the Share value achieved ” (as defined in the Change 2016 EIP) any unvested RSUs shall vest in Control is at or above ten dollars ($10.00) per Share, the Performance Option shall be vested and exercisable full effective immediately prior to such Change event. Each vested RSU shall be settled by delivery to Executive of one share of common stock of the Company per vested RSU as soon as practicable after the applicable vesting date, but in Controlno event later than March 15 of the calendar year immediately following the calendar year in which the applicable vesting date occurred (each such applicable date, the “Settlement Date”). Any fractional RSUs resulting from the application of the vesting schedule shall be aggregated and the RSUs resulting from such aggregation shall vest on the final vesting date. Upon each Settlement Date, Executive shall be entitled, at his discretion and to the extent permitted by applicable law, to satisfy his tax obligations arising in connection with the settlement of his RSUs through the sale by Executive in the open market of a number of shares of common stock of the Company underlying the RSUs up to the maximum applicable withholding rate. As permitted by law and subject to any required consents, on or before each Settlement Date, the Company shall use its commercially reasonable efforts to file a Registration Statement on Form S-8 with the SEC to allow the Executive (and if permitted by the Company, other senior executives) to settle a number of RSUs sufficient to cover his employment tax obligation arising in connection with the settlement of his RSUs in the open market pursuant to such Form S-8.For the purposes of this Agreement: (I) the term “Initial Vested Amount” means the amount determined by the following formula: , where “A” is the total number of calendar days occurring during the period from the Effective Date through the Initial Vesting Date; and (II) the term “Additional Vested Amount” means the amount determined by the following formula: .

Initial Equity Grant. In addition Contemporaneously with this Agreement, pursuant to any other equity-based compensation or equity awards the Company or any other member of Company’s 2017 Omnibus Incentive Plan (the Company Group grants to Executive on or after the Effective Date“Equity Plan”), the Company shall grant to Executive, as soon as practicable following the Effective Date, nonqualified options to purchase a total of three million(3,000,000) shares of the Company’s common stock, par value $0.001 (collectively, the “Shares” and each, individually, a “Share”), at a price of fifty-five cents ($0.55) per Share which the parties agree reflects the fair market value of the Shares. Such options shall be granted pursuant to an option plan and award agreements which shall include the following terms: (a) Two million, five hundred A stock option (which shall be treated as an incentive stock option to the maximum extent permissible and as a nonqualified stock option as to any remainder) to purchase fifty thousand (2,500,00050,000) Shares (shares of common stock of the “Service Option”) shall vest as followsCompany, subject to Executive’s continued service the restrictions and conditions set forth in the Equity Plan and applicable award agreement. The foregoing option shall have an exercise price equal to the Company and the other provisions closing price of this Agreement: (i) the Service Option shall have a term share of ten (10) years from the date of grant (the “Service Option Expiration Date”); and (ii) the Service Option shall vest as to one-twelfth (1/12) common stock of the Shares three (3) months after Company on the Effective Date, Date and as to an additional one-twelfth (1/12) of the Shares on such date every third month thereafter through the date three (3) years after the Effective Date. Each tranche of Shares subject to the Service Option shall become exercisable on the earlier of (i) one (1) year after the date each tranche shall vest, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a “Change of Control” (as defined in the Company’s 2016 Equity Incentive Plan) any unvested portion of the Service Option shall vest and become exercisable effective immediately prior to such event. (b) Five hundred thousand (500,000) Shares (the “Performance Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Performance Option shall have a term of ten (10) years from the date of grant (the “Performance Option Expiration Date”); and (ii) the Performance Option shall vest as to one hundred twenty-five percent (10025%) of the Shares shares subject thereto if, and only if, prior to the third anniversary of the Effective Date, the Shares have traded at a price of ten dollars ($10.00) per Share, or more, for a period of ninety (90) consecutive trading days during which an average of at least 500,000 shares are traded per day. The Performance Option option shall cease to vest upon Executive’s termination of employment for any reason other than death, Disability or an involuntary termination without Cause or for Good Reason (each as defined in Section 7), in which case the Performance Option shall cease to vest on the first anniversary of the Executive’s termination date of employment unless grant and an additional twenty-five percent (25%) of the performance conditions in shares subject to the preceding sentence have been satisfied prior to such date. The Performance Option option shall vest and become exercisable on each of the earlier second, third and fourth anniversaries thereafter; provided that Executive remains in the Continuous Service (as defined in the Equity Plan) of (i) one (1) year after the Company as of each applicable vesting date. (b) A Restricted Stock Unit Award with respect to thirty thousand (30,000) shares of common stock of the Company, subject to the restrictions and conditions set forth in the Equity Plan and applicable award agreement. The restricted stock units shall vest as follows: thirty-three and one third percent (ii33 1/3%) of the second restricted stock units shall vest on the first anniversary of the Effective Date, or date of grant and an additional thirty-three and one third percent (iii33 1/3%) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding restricted stock units shall vest on each of the foregoing, second and third anniversaries thereafter; provided that Executive remains in the event of a Change of Control, if the Performance Option criteria has been satisfied prior to such date, or if the Share value achieved Continuous Service (as defined in the Change in Control is at or above ten dollars ($10.00Equity Plan) per Share, of the Performance Option shall be vested and exercisable immediately prior to such Change in ControlCompany as of each applicable vesting date.

Initial Equity Grant. In addition to any other equity-based compensation or equity awards the Company or any other member of the Company Group grants to Executive on or after the Effective Date, the Company shall grant to Executive, as soon as practicable following the Effective Date, nonqualified options to purchase a total of three million(3,000,000one million(1,000,000) shares of the Company’s common stock, par value $0.001 (collectively, the “Shares” and each, individually, a “Share”), at a price of fifty-five cents ($0.55) per Share which the parties agree reflects the fair market value of the Shares. Such options shall be granted pursuant to an option plan and award agreements which shall include the following terms: (a) Two million, five hundred thousand (2,500,000) Shares (the “Service Option”) ). Such Option shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Service Option shall have a term of ten (10) years from the date of grant (the “Service Option Expiration Date”); and (ii) the Service Option shall vest as to one-twelfth (1/12) of the Shares three (3) months after the Effective Date, and as to an additional one-twelfth (1/12) of the Shares on such date every third month thereafter through the date three (3) years after the Effective Date. Each tranche of Shares subject to the Service Option shall become exercisable on the earlier of (i) one (1) year after the date each tranche shall vest, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a “Change of Control” (as defined in the Company’s 2016 Equity Incentive Plan) any unvested portion of the Service Option shall vest and become exercisable effective immediately prior to such event. (b) Five hundred thousand (500,000) Shares (the “Performance Option”) shall vest as follows, subject to Executive’s continued service to the Company and the other provisions of this Agreement: (i) the Performance Option shall have a term of ten (10) years from the date of grant (the “Performance Option Expiration Date”); and (ii) the Performance Option shall vest as to one hundred percent (100%) of the Shares subject thereto if, and only if, prior to the third anniversary of the Effective Date, the Shares have traded at a price of ten dollars ($10.00) per Share, or more, for a period of ninety (90) consecutive trading days during which an average of at least 500,000 shares are traded per day. The Performance Option shall cease to vest upon Executive’s termination of employment for any reason other than death, Disability or an involuntary termination without Cause or for Good Reason (each as defined in Section 7), in which case the Performance Option shall cease to vest on the first anniversary of the Executive’s termination of employment unless the performance conditions in the preceding sentence have been satisfied prior to such date. The Performance Option shall become exercisable on the earlier of (i) one (1) year after the vesting date, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, in the event of a Change of Control, if the Performance Option criteria has been satisfied prior to such date, or if the Share value achieved in the Change in Control is at or above ten dollars ($10.00) per Share, the Performance Option shall be vested and exercisable immediately prior to such Change in Control.