Common use of Initial Stock Option Grant Clause in Contracts

Initial Stock Option Grant. Executive shall receive from the Company, effective as of May 5, 2017 options (“the “Initial Options”) to purchase up to Five Hundred Thousand (500,000) shares of the Company's Common Stock, at One Dollar and Forty-Seven Cents ($1.47) per share, constituting the Fair Market Value as of the date granted. Of the Initial Options granted, options to purchase One Hundred Twenty-Five Thousand (125,000) shares shall vest on January 5, 2018 and options to purchase an additional One Hundred Twenty-Five Thousand (125,000) shares shall vest on each one-year anniversary of January 5, for three (3) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.

Initial Stock Option Grant. Executive shall receive from the Company, effective as of May 5January 6, 2017 2017, options (“the “Initial Options”) to purchase up to Five Hundred Thousand One Million (500,0001,000,000) shares of the Company's Common Stock, at One Dollar and Forty-Seven Fifteen Cents ($1.470.15) per share, constituting the Fair Market Value as of the date grantedEffective Date. Of the Initial Options granted, options to purchase One Two Hundred Twenty-Five Fifty Thousand (125,000250,000) shares (25%) shall vest on January 5, 2018 and options to purchase an additional One Two Hundred Twenty-Five Fifty Thousand (125,000250,000) shares shall vest on each one-year anniversary of January 5, for three (3) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.

Initial Stock Option Grant. Executive shall receive from the Company, effective as of May 5January 6, 2017 2017, options (“the “Initial Options”) to purchase up to Five Hundred Thousand One Million (500,0001,000,000) shares of the Company's Common Stock, at One Dollar and Forty-Seven Fifteen Cents ($1.470.15) per share, constituting the Fair Market Value as of the date grantedEffective Date. Of the Initial Options granted, options to purchase One Two Hundred Twenty-Five Fifty Thousand (125,000250,000) shares (25%) shall vest on January 5, 2018 and options to purchase an additional One Two Hundred Twenty-Five Fifty Thousand (125,000250,000) shares shall vest on each one-year anniversary of January 5, for three (3) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.. IRONCLAD EMPLOYMENT AGREEMENT

Initial Stock Option Grant. Executive shall receive from the Company, effective as of May 5January 6, 2017 2017, options (“the “Initial Options”) to purchase up to Five Hundred Thousand Three Million (500,0003,000,000) shares of the Company's Common Stock, at One Dollar and Forty-Seven Fifteen Cents ($1.470.15) per share, constituting the Fair Market Value as of the date grantedEffective Date. Of the Initial Options granted, options to purchase One Hundred Twenty-Five Thousand Million (125,0001,000,000) shares (33.3%) shall vest on January 5, 2018 and options to purchase an additional One Hundred Twenty-Five Thousand Million (125,0001,000,000) shares shall vest on each one-year anniversary of January 5, for three two (32) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.

Initial Stock Option Grant. Executive shall receive from the Company, effective as of May 5January 6, 2017 2017, options (“the “Initial Options”) to purchase up to Five Hundred Thousand Four Million (500,0004,000,000) shares of the Company's Common Stock, Stock at One Dollar and Forty-Seven an exercise price of Fifteen Cents ($1.470.15) per share, constituting the Fair Market Value as of the date grantedEffective Date. Of the Initial Options granted, options to purchase One Hundred Twenty-Five Thousand Million (125,0001,000,000) shares (25%) shall vest on January 5, 2018 and options to IRONCLAD EMPLOYMENT AGREEMENT purchase an additional One Hundred Twenty-Five Thousand Million (125,0001,000,000) shares shall vest on each one-year anniversary of January 5, for three (3) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.

Initial Stock Option Grant. Executive shall receive from the Company, effective as of May 5, 2017 2017, options (“the “Initial Options”) to purchase up to Five Four Hundred Thousand (500,000400,000) shares of the Company's Common Stock, at One Dollar and Forty-Seven Cents ($1.47) per share, constituting the Fair Market Value as of the date granted. Of the Initial Options granted, options to purchase One Hundred Twenty-Five Thousand (125,000100,000) shares shall vest on January 5, 2018 and options to purchase an additional One Hundred Twenty-Five Thousand (125,000100,000) shares shall vest on each one-year anniversary of January 5, for three (3) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.