Common use of Initial Stock Options Clause in Contracts

Initial Stock Options. You shall be entitled to receive stock options --------------------- to purchase up to an aggregate of 30,000 shares of common stock of the Company. Such options shall be priced on the closing price of the Company's Common Stock as reported by NASDAQ on the date you commence employment with the Company and shall vest as follows: the stock options have a four year vesting period, with 20% vesting after six months, 20% vesting after one year, 20% at the end of two years, 20% at the end of three years, and full vesting at the end of four years in four equal annual installments on the anniversary date of such grant. A copy of the forms of option grant letter is attached hereto as Exhibits D and E. ---------------- Notwithstanding the foregoing, in the event of a Change of Control (as defined in Section 7 herein), an additional 20% of such option shall vest upon the Change of Control (but in any event not to exceed 100% of the original option grant).

Initial Stock Options. You shall be entitled to receive stock options --------------------- to purchase up to an aggregate of 30,000 45,000 shares of common stock of the Company. Such options shall be priced on the closing price of the Company's Common Stock as reported by NASDAQ on the date you commence employment with the Company and shall vest as follows: the stock options have a four year vesting period, with 20% vesting after six months, 20% vesting after one year, 20% at the end of two years, 20% at the end of three years, and full vesting at the end of four years in four equal annual installments on the anniversary date of such grant. A copy of the forms of option grant letter is attached hereto as Exhibits D and E. ---------------- Notwithstanding the foregoing, in the event of a Change of Control (as defined in Section 7 herein), an additional 20% of such option shall vest upon the Change of Control (but in any event not to exceed 100% of the original option grant).

Initial Stock Options. You shall be entitled to receive stock options --------------------- to purchase up to an aggregate of 30,000 40,000 shares of common stock of the Company. Such options shall be priced on the closing price of the Company's Common Stock as reported by NASDAQ on the date you commence employment with the Company and shall vest as follows: the stock options have a four year vesting period, with 20% vesting after six months, 20% vesting after one year, 20% at the end of two years, 20% at the end of three years, and full vesting at the end of four years in four equal annual installments on the anniversary date of such grant. A copy of the forms of option grant letter is attached hereto as Exhibits D and E. ---------------- Notwithstanding the foregoing, in the event of a Change of Control (as defined in Section 7 herein), an additional 20% of such option shall vest upon the Change of Control (but in any event not to exceed 100% of the original option grant).