Common use of Initial Option Clause in Contracts

Initial Option. On the Grant Date (as defined in Section 16), the Company shall grant to Executive an incentive stock option (the “Initial Option”) under the Company’s 2008 Stock Incentive Plan (the “Plan”) to purchase 367,317 shares of Common Stock (as defined in Section 16), which represents 1.5% of the total number of shares of Common Stock issued and outstanding on a fully-diluted basis as of the Effective Date.

Initial Option. On the Grant Date (as defined in Section 16), the Company shall grant to Executive an incentive stock option (the “Initial Option”) under the Company’s 2008 Stock Incentive Plan (the “Plan”) to purchase 367,317 350,000 shares of Common Stock (as defined in Section 16), which represents 1.5% of the total number of shares of Common Stock issued and outstanding on a fully-diluted basis as of the Effective Date.

Initial Option. On the Grant Date (as defined in Section 16), the Company shall grant to Executive an incentive stock option (the “Initial Option”) under the Company’s 2008 Stock Incentive Plan (the “Plan”) to purchase 367,317 400,000 shares of Common Stock (as defined in Section 16), which represents 1.5% of the total number of shares of Common Stock issued and outstanding on a fully-diluted basis as of the Effective Date.