Common use of Grant of Performance Options Clause in Contracts

Grant of Performance Options. Immediately following the Effective Time, the Company and the Stockholder shall duly execute and deliver a Performance Option Agreement in substantially the form attached hereto as Exhibit C pursuant to which the Stockholder will be granted performance options to purchase the number of shares of Common Stock set forth opposite his name on Schedule II hereto at an exercise price equal to the per share price paid by the Stockholder for Common Stock pursuant hereto. Following such due execution and delivery thereof, the Performance Option Agreement shall constitute a valid and binding obligation of each of the Company and the Stockholder, enforceable against each of the Company and the Stockholder in accordance with its terms.