Common use of Additional Grant of Stock Options Clause in Contracts

Additional Grant of Stock Options. ("New Option Agreement"): -------------------- Effective as of the date of this Amendment ("Option Grant Date"), ----------------- Executive shall be awarded a stock option (the "Additional Stock ---------------- Option") to purchase Fifty Thousand (50,000) shares of the Company's ------ Series B Common Stock, par value $.0001 per share (the "Common ------ Stock"). The shares of Common Stock subject to the Additional Stock Option shall vest in increments of Twenty Thousand (20,000) shares on August 1, 2001; Fifteen Thousand (15,000) shares on August 1, 2002; and Fifteen Thousand (15,000) shares on August 2, 2003. The Purchase Price for the Common Stock covered by the Additional Stock Option shall be equal to the fair market value of the Common Stock as measured by the closing price of a share of Common Stock on NASDAQ on the Option Grant Date. The Additional Stock Option will be granted under the 1999 Equity Incentive Plan of FirstWorld Communications, Inc. (the "Plan") and the terms and conditions of the Additional Stock ---- Option will be determined in accordance with the Plan; provided however, to the extent such terms of the Plan or the New Option Agreement conflict with the terms of the Employment Agreement, as amended, the terms of the Employment Agreement will control. To the extent permissible under applicable law and the Plan, the Additional Stock Option granted under the New Option Agreement will be granted as incentive stock options.

Additional Grant of Stock Options. ("New Option Agreement"): -------------------- Effective as of the date of this Amendment ("Option Grant Date"), ----------------- Executive shall be awarded a stock option (the "Additional Stock ---------------- Option") to ------------ purchase Fifty Twenty-Five Thousand (50,00025,000) shares of the Company's ------ Series B Common Stock, par value $.0001 per share (the "Common ------ Stock"). The ------------ shares of Common Stock subject to the Additional Stock Option shall vest in increments of Twenty Ten Thousand (20,00010,000) shares on August 1, 2001; Fifteen Seven Thousand Five Hundred (15,0007,500) shares on August 1, 2002; and Fifteen Seven Thousand Five Hundred (15,0007,500) shares on August 21, 2003. The Purchase Price for the Common Stock covered by the Additional Stock Option shall be equal to the fair market value of the Common Stock as measured by the closing price of a share of Common Stock on NASDAQ on the Option Grant trading date of the Commencement Date. The Additional Stock Option will be granted under the 1999 Equity Incentive Plan of FirstWorld Communications, Inc. (the "Plan") ---- and the terms and conditions of the Additional Stock ---- Option will be determined in accordance with the Plan; provided however, to the extent such terms of the Plan or the New Option Agreement conflict with the terms of the Employment Agreement, as amended, the terms of the Employment Agreement will control. To the extent permissible under applicable law and the Plan, the Additional Stock Option granted under the New Option Agreement will be granted as incentive stock options.

Additional Grant of Stock Options. ("New Option Agreement"): -------------------- Effective as of the date of this Amendment ("Option Grant Date"), ----------------- Executive shall be awarded a stock option (the "Additional Stock ---------------- Option") to ------------ purchase Fifty Fifteen Thousand (50,00015,000) shares of the Company's ------ Series B Common Stock, par value $.0001 per share (the "Common ------ Stock"). The ------------ shares of Common Stock subject to the Additional Stock Option shall vest in increments of Twenty Six Thousand (20,0006,000) shares on August 1, 2001; Fifteen Four Thousand Five Hundred (15,0004,500) shares on August 1, 2002; and Fifteen Four Thousand Five Hundred (15,0004,500) shares on August 21, 2003. The Purchase Price for the Common Stock covered by the Additional Stock Option shall be equal to the fair market value of the Common Stock as measured by the closing price of a share of Common Stock on NASDAQ on the trading date of the Option Grant Date. The Additional Stock Option will be granted under the 1999 Equity Incentive Plan of FirstWorld Communications, Inc. (the "Plan") and the ---- terms and conditions of the Additional Stock ---- Option will be determined in accordance with the Plan; provided however, to the extent such terms of the Plan or the New Option Agreement conflict with the terms of the Employment Agreement, as amended, the terms of the Employment Agreement will control. To the extent permissible under applicable law and the Plan, the Additional Stock Option granted under the New Option Agreement will be granted as incentive stock options.

Additional Grant of Stock Options. ("New Option Agreement"): -------------------- Effective as of the date of this Amendment ("Option Grant Date"), ----------------- Executive shall be awarded a stock option (the "Additional Stock ---------------- Option") to ------------ purchase Fifty Ten Thousand (50,00010,000) shares of the Company's ------ Series B Common Stock, par value $.0001 per share (the "Common ------ Stock"). The shares of ------------ Common Stock subject to the Additional Stock Option shall vest in increments of Twenty Four Thousand (20,0004,000) shares on August 1, 2001; Fifteen Three Thousand (15,0003,000) shares on August 1, 2002; and Fifteen Three Thousand (15,0003,000) shares on August 21, 2003. The Purchase Price for the Common Stock covered by the Additional Stock Option shall be equal to the fair market value of the Common Stock as measured by the closing price of a share of Common Stock on NASDAQ on the trading date of the Option Grant Date. The Additional Stock Option will be granted under the 1999 Equity Incentive Plan of FirstWorld Communications, Inc. (the "Plan") and the terms and conditions of the Additional ---- Stock ---- Option will be determined in accordance with the Plan; provided however, to the extent such terms of the Plan or the New Option Agreement conflict with the terms of the Employment Agreement, as amended, the terms of the Employment Agreement will control. To the extent permissible under applicable law and the Plan, the Additional Stock Option granted under the New Option Agreement will be granted as incentive stock options.

Additional Grant of Stock Options. ("New Option Agreement"): -------------------- Effective as of the date of this Amendment ("Option Grant Date"), ----------------- Executive shall be awarded a stock option (the "Additional Stock ---------------- Option") to ------------ purchase Fifty Thirty-Five Thousand (50,00035,000) shares of the Company's ------ Series B Common Stock, par value $.0001 per share (the "Common ------ Stock"). The ------------ shares of Common Stock subject to the Additional Stock Option shall vest in increments of Twenty Fourteen Thousand (20,00014,000) shares on August 1, 2001; Fifteen Ten Thousand Five Hundred (15,00010,500) shares on August 1, 2002; and Fifteen Ten Thousand Five Hundred (15,00010,500) shares on August 21, 2003. The Purchase Price for the Common Stock covered by the Additional Stock Option shall be equal to the fair market value of the Common Stock as measured by the closing price of a share of Common Stock on NASDAQ on the trading date of the Option Grant Date. The Additional Stock Option will be granted under the 1999 Equity Incentive Plan of FirstWorld Communications, Inc. (the "Plan") and the ---- terms and conditions of the Additional Stock ---- Option will be determined in accordance with the Plan; provided however, to the extent such terms of the Plan or the New Option Agreement conflict with the terms of the Employment Agreement, as amended, the terms of the Employment Agreement will control. To the extent permissible under applicable law and the Plan, the Additional Stock Option granted under the New Option Agreement will be granted as incentive stock options.