Common use of Initial Options Clause in Contracts

Initial Options. As of the Effective Date, the Company shall grant to Executive stock options to purchase an aggregate of 22,000 shares of common stock of the Company with an exercise price equal to the fair market value of the Company's stock on the Effective Date. The option will be for a term of ten (10) years and will vest immediately. To the maximum amount allowed by law, these options will be in the form an Incentive Stock Option Grant and the balance in Non-Qualified Options.

Initial Options. As of the Effective Date, the Company shall grant to Executive stock options to purchase an aggregate of 22,000 100,000 shares of common stock of the Company with an exercise price equal to the fair market value of the Company's stock on the Effective Date. The option will be for a term of ten seven (107) years and will vest immediately. To the maximum amount allowed by law, these options will be in the form an Incentive Stock Option Grant and the balance in Non-Qualified Options.

Initial Options. As of the Effective Date, the Company shall grant to Executive stock options to purchase an aggregate of 22,000 300,000 shares of common stock of the Company with an exercise price equal to the fair market value of the Company's stock on the Effective Date. The option will terms of the options shall be for a term governed by the forms of ten (10) years and will vest immediately. To the maximum amount allowed by law, these options will be in the form an Incentive Stock Option Grant and the balance in Non-Qualified Options.Agreement attached as Exhibit A.

Initial Options. As of the Effective Date, the Company shall grant to Executive stock options to purchase an aggregate of 22,000 shares of common stock of the Company with an exercise price equal to the fair market value of the Company's stock on the Effective Date. The option will be for a term of ten seven (107) years and will vest immediately. To the maximum amount allowed by law, these options will be in the form an Incentive Stock Option Grant and the balance in Non-Qualified Options.