Common use of Stock Option Grant Clause in Contracts

Stock Option Grant. On, or as promptly as practicable following, the Closing, but no later than 30 days immediately following the Closing, the Company shall grant to the Executive an option to purchase (the “Initial Option”) that number of shares of the Company common stock necessary for the Initial Option to have a grant date fair value of $5,000,000. The per share exercise price of the Initial Option shall be equal to the per share fair market value of the Company’s common stock on the date of grant. The Initial Option shall vest and become exercisable with respect to 25% of the total number of shares subject to the Initial Option on each of the first four anniversaries of the Closing, subject to the Executive’s continuous service to the Company through the applicable vesting date. The Initial Option shall otherwise be subject to the terms of the plan pursuant to which they are granted and an award agreement to be entered into between the Executive and the Company and Section 4.4.2(iii) or 4.4.3(iii) (as applicable) below.

Stock Option Grant. On, or as promptly as practicable following, the Closing, but no later than 30 days immediately following the Closing, the Company shall grant to the Executive an option to purchase (the “Initial Option”) that number of shares of the Company common stock necessary for the Initial Option to have a grant date fair value of $5,000,0002,000,000 (with such fair value determined on the same basis that grant values are determined for other senior executives of the Company). The per share exercise price of the Initial Option shall be equal to the per share fair market value of the Company’s common stock on the date of grant. The Initial Option shall vest and become exercisable with respect to 25% of the total number of shares subject to the Initial Option on each of the first four anniversaries of the Closing, subject to the Executive’s continuous service to the Company through the applicable vesting date. The Initial Option shall otherwise be subject to the terms of the plan pursuant to which they are granted and an award agreement to be entered into between the Executive and the Company and Section 4.4.2(iii) or 4.4.3(iii) (as applicable) below.

Stock Option Grant. On, or as promptly as practicable following, the Closing, but no No later than 30 days immediately following the ClosingEffective Date, the Company shall grant to the Executive Executive, subject to the approval of the Board, an option to purchase (the “Initial Option”) that number of shares of the Company Holdings common stock necessary for the Initial Option to have a grant date fair value of $5,000,0001,000,000 (with such fair value determined on the same basis that grant values are determined for other senior executives of the Company). The per share exercise price of the Initial Option shall be equal to the per share fair market value of the Company’s common stock on the date of grant. The Initial Option shall vest and become exercisable with respect to 25% of the total number of shares subject to the Initial Option on each of the first four anniversaries of the ClosingEffective Date, subject to the Executive’s continuous service to the Company through the applicable vesting date. The Initial Option shall otherwise be subject to the terms of the plan pursuant to which they are granted and an award agreement to be entered into between the Executive and the Company and Section 4.4.2(iii) or 4.4.3(iii) (as applicable) below.

Stock Option Grant. On, or as promptly as practicable following, the Closing, but no No later than 30 days immediately following the ClosingEffective Date, the Company shall grant to the Executive Executive, subject to the approval of the Board, an option to purchase (the “Initial Option”) that number of shares of the Company Holdings common stock necessary for the Initial Option to have a grant date fair value of $5,000,0001,500,000 (with such fair value determined on the same basis that grant values are determined for other senior executives of the Company). The per share exercise price of the Initial Option shall be equal to the per share fair market value of the Company’s common stock on the date of grant. The Initial Option shall vest and become exercisable with respect to 25% of the total number of shares subject to the Initial Option on each of the first four anniversaries of the ClosingEffective Date, subject to the Executive’s continuous service to the Company through the applicable vesting date. The Initial Option shall otherwise be subject to the terms of the plan pursuant to which they are granted and an award agreement to be entered into between the Executive and the Company and Section 4.4.2(iii) or 4.4.3(iii) (as applicable) below.