Common use of Performance-Based Stock Options Clause in Contracts

Performance-Based Stock Options. The Company acknowledges that it will grant the Executive two million five hundred thousand (2,500,000) performance based stock options (the “Performance Stock Options”) entitling the Executive to purchase shares of common stock of the Company, on a cashless basis during the term of employment and non cashless if executive is no longer employed, (the “Performance Stock Option Shares”). The Executive shall be entitled to any additional annual stock option grants provided at the discretion of the Company’s Board of Directors. The specific terms and conditions of such Performance Stock Options shall be set forth in a separate written Performance Stock Option Agreement, with the principal terms being as follows: 3.3.1 The Performance Options shall vest as the Executive meets deadlines and or milestones for the completion of agreed upon deliverables with respect to the SearchHelp product (the “Deliverables”). Any milestones achieved while a member Advisory Board member shall count towards vesting of Performance Options. The specific terms and conditions of the Deliverables, as mutually agreed upon, shall be set forth in detail in the Performance Stock Option Agreement. When Executive achieves any two milestones listed below, Executive shall receive 500,000 vested performance based options to purchase the Company’s common stock. Upon Executive achieving a total of four milestones below, an additional 500,000 performance based options shall vest, and upon achieving a total of 6 milestones below, an additional 1,500,000 performance based options shall vest.

Performance-Based Stock Options. The Company acknowledges that it will grant the Executive two four million five hundred thousand (2,500,0004,000,000) performance based stock options (the “Performance Stock Options”) entitling the Executive to purchase shares of common stock of the Company, on a cashless basis during the term of employment and non cashless if executive as long as Executive is no longer employednot fired for cause or he terminates employment for reasons of not good cause, (the “Performance Stock Option Shares”). The Executive shall be entitled to any additional annual stock option grants provided at the discretion of the Company’s Board of Directors. The specific terms and conditions of such Performance Stock Options shall be set forth in a separate written Performance Stock Option Agreement, with the principal terms being as follows: 3.3.1 3.5.1 The Performance Options shall vest as the Executive meets deadlines and or milestones for the completion of agreed upon deliverables with respect to the SearchHelp product products (the “Deliverables”). Any milestones achieved while a member Advisory Board member shall count towards vesting of Performance Options. The specific terms and conditions of the Deliverables, as mutually agreed upon, shall be set forth in detail in the Performance Stock Option Agreement. , attached as Exhibit A When Executive achieves any two milestones deliverables listed below, Executive shall receive 500,000 vested vest 1,000,000 performance based options to purchase the Company’s common stock. Upon Executive achieving a total of four milestones third milestone below, an additional 500,000 1,500,000 performance based options shall vest, and upon achieving a total of 6 five milestones below, an additional 1,500,000 performance based options shall vest. It is agreed that any agreements signed during consultancy period shall count towards milestones below.