Common use of Grant of Additional Stock Options Clause in Contracts

Grant of Additional Stock Options. There shall be added to --------------------------------- Paragraph 6(c) of the Employment Agreement a second paragraph which shall state the following: Executive shall be included in the 0000 XXXXX Surgical Company Non- Qualified Stock Plan (the "Plan") adopted by Company. Pursuant to the terms of the Plan, Executive shall be entitled to purchase fifty thousand (50,000) shares of Company's common stock, which options shall vest over a period of five (5) years (ten thousand (10,000) shares each on May 6, 1998, May 6, 1999, May 6, 2000, May 6, 2001 and May 6, 2002, respectively), and all of which option rights shall expire on May 6, 2006. The purchase price per share shall be $12.50. Stock issued pursuant to the Plan shall be restricted stock, although Company shall reserve the right to issue registered shares if it so decides. Executive agrees to be bound by the terms of the Plan as adopted. These options shall be non-qualified stock options.

Grant of Additional Stock Options. There shall be added to --------------------------------- Paragraph 6(c6(d) of the Employment Agreement a second paragraph which shall state the following: Executive shall be included in the 0000 XXXXX Surgical Company Non- Qualified Stock Plan (the "Plan") adopted by Company. Pursuant to the terms of the Plan, Executive shall be entitled to purchase fifty thousand (50,000) shares of Company's common stock, which options shall vest over a period of five (5) years (ten thousand (10,000) shares each on May 6, 1998, May 6, 1999, May 6, 2000, May 6, 2001 and May 6, 2002, respectively), and all of which option rights shall expire on May 6, 2006. The purchase price per share shall be $12.50. Stock issued pursuant to the Plan shall be restricted stock, although Company shall reserve the right to issue registered shares if it so decides. Executive agrees to be bound by the terms of the Plan as adopted. These options shall be non-qualified stock options.