Common use of Grant of Share Options Clause in Contracts

Grant of Share Options. On behalf of the Company, the Board hereby grants to the Optionee, in accordance with the Plan, an Incentive Share Option (the “Option”) to purchase a number of ordinary shares of the Company (the “Shares”) as set forth below, at the exercise price per Share set forth in Section 3 below (the “Exercise Price”), subject to the terms and conditions of the Plan, which are incorporated herein by reference. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. Total Number of Option Shares Granted: 400,000 Shares. The Option is intended to qualify as an Incentive Stock Option (“ISO”) as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option (“NSO”). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, the Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Board, the Committee or the Company or any of their respective employees, directors or affiliates have any liability to Optionee (or any other person or entity) due to the failure of the Option to qualify for any reason as an ISO.

Grant of Share Options. On behalf of the Company, the Board hereby grants to the Optionee, in accordance with the Plan, an Incentive Share Option (the “Option”) to purchase a number of ordinary shares of the Company (the “Shares”) as set forth below, at the exercise price per Share set forth in Section 3 below (the “Exercise Price”), subject to the terms and conditions of the Plan, which are incorporated herein by reference. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. Total Number of Option Shares Granted: 400,000 Shares100,000 (one hundred thousand) options. The Option is intended to qualify as an Incentive Stock Option (“ISO”) as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option (“NSO”). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, the Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Board, the Committee or the Company or any of their respective employees, directors or affiliates have any liability to Optionee (or any other person or entity) due to the failure of the Option to qualify for any reason as an ISO.