Common use of Substitute Options Clause in Contracts

Substitute Options. The Substitute Options are being granted (a) in connection with certain corporate transactions entered into in connection with the initial public offering of the Company (the “Company IPO”), and (b) in substitution of options (the “Original Options”) granted under the Home Point Capital LP 2015 Option Plan, as amended (the “Original Plan”) and pursuant to one or more Option Grant Agreement(s), in each case, identified on the signature page hereto (as applicable, the “Original Option Agreement(s)”).