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

Grant of Non-Qualified Stock Options. The Company irrevocably granted to the Optionee, 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 1,500,000 shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common stock shall be unregistered unless the Company voluntarily files a registration statement covering such shares with the Securities and Exchange Commission. The Options are not intended to be Incentive Stock Options as defined by Section 422 of the Internal Revenue Code of 1986 (the “Code”) and are not issued under any of the Company’s equity incentive plans. This Agreement replaces any stock option agreement or offer letter previously provided to the Optionee, if any, with respect to these Options. The Options were granted in connection with the Optionee’s continued service as an employee of the Company (the “Services”).

Grant of Non-Qualified Stock Options. The Company irrevocably granted to the Optionee, 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 1,500,000 10,000,000 shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common stock shall be unregistered unless the Company voluntarily files a registration statement covering such shares with the Securities and Exchange Commission. The Options are not intended to be Incentive Stock Options as defined by Section 422 of the Internal Revenue Code of 1986 (the “Code”) and are not issued under any of the Company’s equity incentive plans. This Agreement replaces any stock option agreement or offer letter previously provided to the Optionee, if any, with respect to these Options. The Options were granted in connection with the Optionee’s continued service as an employee of the Company (the “Services”).

Grant of Non-Qualified Stock Options. The Company irrevocably granted to the Optionee, 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 1,500,000 1,000,000 shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The common stock shall be unregistered unless the Company voluntarily files a registration statement covering such shares with the Securities and Exchange Commission. The Options are not intended to be Incentive Stock Options as defined by Section 422 of the Internal Revenue Code of 1986 (the “Code”) and are not issued under any of the Company’s equity incentive plans. This Agreement replaces any stock option agreement or offer letter previously provided to the Optionee, if any, with respect to these Options. The Options were granted in connection with the Optionee’s continued service as an employee of the Company (the “Services”).

Grant of Non-Qualified Stock Options. The Company irrevocably granted to the Optionee, 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 1,500,000 166,667 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 are not intended to be Incentive Stock Options as defined by Section 422 of the Internal Revenue Code of 1986 (the “Code”) and are not issued under any of the Company’s equity incentive plans. This Agreement replaces any stock option agreement or offer letter previously provided to the Optionee, if any, with respect to these Options. The Options were granted in connection with the Optionee’s continued service as an employee a director of the Company (the “Services”).