Common use of Equity-Based Compensation Plans Clause in Contracts

Equity-Based Compensation Plans. Each stock option granted by the Company under the Company’s equity based compensation plan was granted (i) in accordance with the terms of the Company’s equity based compensation plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s equity based compensation plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.