Common use of Stock Option Grant Clause in Contracts

Stock Option Grant. Effective on the date hereof, the Company shall grant to the Executive a stock option to purchase an aggregate of 250,000 shares of common stock of the Company exercisable at the greater of 110% of the closing price the Company’s common stock on the date of grant or $3.00 per share, over a term of five years and vesting quarterly over eight quarters commencing three months from the date of grant.

Stock Option Grant. (a) On the Effective on the date hereofDate, the Company shall will grant to the Executive a stock option to purchase an aggregate 55,000 of 250,000 the issued and outstanding shares of common stock of the Company exercisable at the greater of 110% of the closing price the Company’s common stock at a price per share equal to the Fair Market Value (as defined in the 2009 Incentive Stock Plan) on the date of grant or $3.00 per share(the stock options to purchase 55,000 shares of the Company’s common stock described in this paragraph, over a term of five years and vesting quarterly over eight quarters commencing three months from the date of grant“Option”).

Stock Option Grant. Effective on the date hereof, the The Company shall will grant to the Executive a stock an option to purchase an aggregate of 250,000 300,000 shares of common stock of the Company exercisable at the greater of 110% of the closing price the Company’s common stock at $.0162 per share concurrently with the signing of this Agreement. Such options will be fully vested on the date of grant or $3.00 per share, over Commencement Date with a term of five (5) years from such date and vesting quarterly over eight quarters commencing three months from the date of grantwill provide for cashless exercise.

Stock Option Grant. Effective on the date hereof, the Company shall grant to the Executive a stock option to purchase an aggregate of 250,000 500,000 shares of common stock of the Company exercisable at the greater of 110% of the closing price the Company’s common stock on the date of grant or $3.00 per sharegrant, over a term of five years and vesting quarterly over eight quarters twenty percent (20%) on the date of grant and twenty percent (20%) on a semi-annual basis commencing three six months from the date of grant.

Stock Option Grant. Effective on Contemporaneously with the date execution hereof, the Company shall grant is granting to the Executive a stock option to purchase an aggregate of 250,000 up to 350,000 shares of common stock Common Stock of the Company exercisable at (the greater of 110% of "Option"). Under the closing price the Company’s common stock Option, 170,000 shares shall be immediately vested, and 60,000 shares shall be vested on the date first, second and third successive anniversaries of grant or $3.00 per share, over a term of five years and vesting quarterly over eight quarters commencing three months from the date of grant.

Stock Option Grant. (a) On the Effective Date, the Company will grant the Executive a stock option to purchase 800,000 of the issued and outstanding shares of the Company’s common stock at a price per share equal to the closing price on the date hereofof grant. On January 4, 2010, provided the Executive remains employed on such date, the Company shall will grant to the Executive a stock option to purchase an aggregate of 250,000 additional 50,000 issued and outstanding shares of common stock of the Company exercisable at the greater of 110% of the closing price the Company’s common stock at a price per share equal to the closing price on that date (the date stock options to purchase 850,000 shares of grant or $3.00 per sharethe Company’s common stock described in this paragraph, over a term of five years and vesting quarterly over eight quarters commencing three months from the date of grant“Option.”)

Stock Option Grant. (a) On the Effective on the date hereofDate, the Company shall will grant to the Executive a stock option to purchase an aggregate two hundred thousand (200,000) of 250,000 the issued and outstanding shares of common stock of the Company exercisable at the greater of 110% of the closing price the Company’s common stock at a price per share equal to the Fair Market Value (as defined in the 2009 Incentive Stock Plan) on the date of grant or $3.00 per share(the stock options to purchase 200,000 shares of the Company’s common stock described in this paragraph, over a term of five years and vesting quarterly over eight quarters commencing three months from the date of grant“Option.”)