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 one 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 (the “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 Option shall have a term of ten (10) years from the date of grant (the “Option Expiration Date”); and (ii) the 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.

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 one million(1,000,000three hundred 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 Shares (the “Option”4.00). Such 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 Option shall have a term of ten (10) years from the date of grant (the “Option Expiration Date”); grant, and (ii) the 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) In addition to the Options, the Company shall grant to Executive, as soon as practicable following the Effective Date, five hundred thousand (500,000) restricted stock units (“RSUs”). Subject to Article 8, the RSUs shall vest as follows: (i) a number of RSUs equal to the Initial Vested Amount (as hereinafter defined) shall vest on the later of (A) the date six (6) months after the Effective Date and (B) the earlier of (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 “Initial Vesting Date”); and (ii) a number of RSUs equal to the Additional Vested Amount (as hereinafter defined) shall vest on such date every three (3) months thereafter through the date three (3) years after the Effective Date, provided that on a particular vesting date Executive is employed by the Company (except as other provided in Article 8). The RSUs will be evidenced by an Award Agreement (as defined in the 2016 EIP) between the Company and Executive and the provisions of which comply with this Agreement. Notwithstanding the foregoing, in the event of a “Change of Control” (as defined in the 2016 EIP) any unvested RSUs shall vest in full effective immediately prior to such 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 no 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, : (a) A stock option (which shall be treated as soon an incentive stock option to the maximum extent permissible and as practicable following the Effective Date, a nonqualified options stock option as to any remainder) to purchase a total of one million(1,000,000fifty thousand (50,000) shares of common stock 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 (the “Option”). Such Option shall vest as follows, 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 closing price of a share of common stock of the Company on the Effective Date and shall vest and become exercisable as follows: twenty-five percent (25%) of the other provisions shares subject to the option shall vest on the first anniversary of this Agreement: (i) the Option shall have a term of ten (10) years from the date of grant and an additional twenty-five percent (the “Option Expiration Date”); and (ii) the Option shall vest as to one-twelfth (1/1225%) 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 shares subject to the Service Option option shall vest and become exercisable on the earlier of (i) one (1) year after the date each tranche shall vest, (ii) the second anniversary of the Effective Datesecond, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Company. Notwithstanding the foregoing, third and fourth anniversaries thereafter; provided that Executive remains in the event of a “Change of Control” Continuous Service (as defined in the Company’s 2016 Equity Incentive Plan) any unvested portion of the Service Option 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 become exercisable effective immediately prior to such eventone third percent (33 1/3%) of the restricted stock units shall vest on the first anniversary of the date of grant and an additional thirty-three and one third percent (33 1/3%) of the restricted stock units shall vest on each of the second and third anniversaries thereafter; provided that Executive remains in the Continuous Service (as defined in the Equity Plan) of the Company as of each applicable vesting date.

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 one million(1,000,000three million 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 Shares on the date of grant. Such options shall be granted pursuant to an option plan and award agreements which shall include the following terms: (b) Two million (2,000,000) 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 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. (c) One million five hundred thousand (1,500,000) 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 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 one (1) year after the vesting date, provided that, in the event of a Change of Control, if the Performance Option has vested prior to such date, it shall be immediately exercisable.

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 one million(1,000,000) shares of under the Company’s common stock, par value $0.001 2016 Equity Incentive Plan (collectivelyas amended, the “Shares” Plan”) five hundred thousand (500,000) restricted stock units (the “RSUs”). The RSUs grant will be evidenced by the Company’s standard form Restricted Stock Units Agreement that will specify such other terms and conditions as the Board, in its sole discretion, will determine in accordance with the terms and conditions of the Plan, including all terms, conditions and restrictions related to the grant and the form of payout, which, subject to Section 9(d) of the Plan, may be left to the discretion of the Board. (i) Fifty percent (50%) of the RSUs (the “First RSUs Tranche”) shall vest during the first open trading window under the Company’s ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Policy which occurs after the 1st anniversary of the Effective Date (anticipated to be on or about November 16, 2021) (the “Initial Vesting Date”) and (ii) the remaining fifty percent (50%) of the RSUs (the “Second RSUs Tranche”) shall vest upon each of the first four (4) quarterly anniversaries of the Initial Vesting Date with the last fourth (4th) vesting date being the two-year anniversary of the Effective Date (each, individually, a “ShareSubsequent Vesting Date” and together with the Initial Vesting Date, each a “Vesting Date”), at a price of fifty-five cents ($0.55) per Share which the parties agree reflects the fair market value of the Shares (the “Option”). Such Option shall vest as follows, subject to Executive’s continued service employment with the Company, and this Agreement being in effect, through the applicable Vesting Date. Each vested RSU shall be settled by delivery to Executive of one share of Common Stock on the Company and the other provisions of this Agreementfirst to occur of: (i) the Option shall have a term of ten (10) years from the date of grant (the “Option Expiration Date”); and (ii) the Option shall vest as to one-twelfth (1/12) a Change 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 vestControl, (ii) promptly after the second anniversary of the Effective applicable Vesting Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of Executive’s death, and (iv) the Companydate of Executive’s Disability (as defined below) (in any case, the “Settlement Date”). Notwithstanding the foregoingforegoing or anything herein to the contrary, in if you remain employed through the event date of a “Change of Control” Control (as defined in the Company’s 2016 Equity Incentive Plan) any below), all then-unvested portion of the Service Option RSUs shall vest and become exercisable in full effective immediately prior to such eventChange of Control; provided, that in the event a Change of Control occurs as a result of a consummation of a transaction described on Exhibit D attached hereto, only 50% of then-unvested RSUs shall vest in full effective immediately prior to such Change of Control. Upon the 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 underlying the RSUs up to the maximum applicable withholding rate solely to satisfy the Executive’s tax obligations arising as a result of the vesting of the vested RSUs. As permitted by law and subject to any required consents and applicable lock-up requirements, on each Settlement Date, the Company shall use its commercially reasonable efforts to settle a number of vested RSUs sufficient to cover Executive’s employment tax obligation arising in connection with the settlement of his vested RSUs in the open market transactions pursuant to the Company’s Registration Statement on Form S-8 (File No. 333-234619) (the “S-8”), filed with the SEC on November 12, 2019 (or such other amendment or successor Form S-8 filed by the Company, if any) (the “S-8 Settlement”), provided, that such S-8 is then effective. By signing this Agreement, Executive acknowledges receipt and understands the terms of the Company’s ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Policy.