Common use of Grant of Non-Qualified Options Clause in Contracts

Grant of Non-Qualified Options. The Company irrevocably grants to the Employee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option to purchase all or any part of an aggregate of _____ shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common stock shall be unregistered unless the Company voluntarily files a registration statement covering such shares with the Securities and Exchange Commission. The Options previously granted to the Employee are cancelled.

Grant of Non-Qualified Options. The Company irrevocably grants to the Employee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option (the “Options”) to purchase all or any part of an aggregate of _____ 103,800 shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common Options are not intended to be incentive stock shall be unregistered unless options under Section 422 of the Company voluntarily files a registration statement covering such shares with Internal Revenue Code of 1986 (the Securities and Exchange Commission. The Options previously granted to the Employee are cancelled“Code”).

Grant of Non-Qualified Options. The Company irrevocably grants to the Employee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option (the "Options") to purchase all or any part of an aggregate of _____ 135,000 shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common Options are not intended to be incentive stock shall be unregistered unless options under Section 422 of the Company voluntarily files a registration statement covering such shares with Internal Revenue Code of 1986 (the Securities and Exchange Commission. The Options previously granted to the Employee are cancelled"Code").

Grant of Non-Qualified Options. The Company irrevocably grants to the EmployeeOptionee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option (the “Options”) to purchase all or any part of an aggregate of __________ shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common stock shall be unregistered unless the Company voluntarily files a registration statement covering such shares with the Securities and Exchange Commission. The Options previously granted to the Employee are cancelled.

Grant of Non-Qualified Options. The Company irrevocably grants to the Employee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option (the “Options”) to purchase all or any part of an aggregate of _____ 135,000 shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common Options are not intended to be incentive stock shall be unregistered unless options under Section 422 of the Company voluntarily files a registration statement covering such shares with Internal Revenue Code of 1986 (the Securities and Exchange Commission. The Options previously granted to the Employee are cancelled“Code”).

Grant of Non-Qualified Options. The Company irrevocably grants to the Employee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option (the "Options") to purchase all or any part of an aggregate of _____ shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common stock shall be unregistered unless the Company voluntarily files a registration statement covering such shares with the Securities and Exchange Commission. The Options previously granted to the Employee are cancelled.