Common use of Share Option Clause in Contracts

Share Option. The Company agrees to grant Director an option to purchase shares of Common Stock of the Company under the 2003 Omnibus Plan (the 'Plan) at the fair market value of $ 0.49 per share, which is equal to the closing price of the Company's common stock on January 18, 2013, with the total amount of shares granted equal to 50,000 shares of option for 3 years services as a director with the Company. The option shall vest on a quarterly basis (4,166 shares of option to vest on the first 11 quarter anniversaries of the grant and 4,174 shares of option to vest on the 12th quarter anniversary of the grant with the initial 4,166 shares of option vesting to commence on April 16, 2013), and all vesting conditional upon continued service as a Director of the Company as of each such anniversary. Further, the option allows for cashless exercise.

Share Option. The Company agrees to grant Director an option to purchase shares of Common Stock of the Company under the 2003 Omnibus Plan (the '"Plan) at the fair market value of $ 0.49 $0.80 per share, which is equal to the closing price of the Company's ’s common stock on January 18October 15, 20132011, with the total amount of shares options granted equal to 50,000 shares of option for 3 years services as a director with the Company’s common stock. The option shall vest on a quarterly basis (4,166 shares of option to vest on the first 11 quarter anniversaries of the grant and 4,174 shares of option to vest on the 12th quarter anniversary of the grant with the initial 4,166 shares of option vesting to commence on April 16January 15, 20132012), and all vesting conditional upon continued service as a Director of the Company as of each such anniversary. Further, the option allows for cashless exercise.