Common use of Incentive Stock Option Plan Clause in Contracts

Incentive Stock Option Plan. Executive shall be entitled to participate in the Company's 1998 Incentive Stock Option Plan. As of the Effective Date of this Agreement, the Company shall cause to be issued to Executive stock options (in addition to the stock options previously issued to Executive) to purchase 750,000 shares of the Company's common stock pursuant to the terms and conditions of the plan at an exercise price of $1.00 per share, vesting annually in equal amounts on December 31, 2001, 2002 and 2003 and with an exercise period of five (5) years from the date of grant of such options. However, if there is a Change in Control (as defined below), all such stock options shall become vested as of the date of such Change in Control.

Incentive Stock Option Plan. Executive shall be entitled to participate in the Company's 1998 Incentive Stock Option Plan. As of the Effective Date of this Agreement, the Company shall cause to be issued to Executive stock options (in addition to the stock options previously issued to Executive) to purchase 750,000 500,000 shares of the Company's common stock pursuant to the terms and conditions of the plan at an exercise price of $1.00 per share, vesting annually in equal amounts on December 31, 2001, 2002 and 2003 and with an exercise period of five (5) years from the date of grant of such options. However, if there is a Change in Control (as defined below), all such stock options shall become vested as of the date of such Change in Control.

Incentive Stock Option Plan. Executive shall be entitled to participate in the Company's 1998 Incentive Stock Option Plan. As of the Effective Date of this Agreement, the Company shall cause to be issued to Executive stock options (in addition to the stock options previously issued to Executive) to purchase 750,000 150,000 shares of the Company's common stock pursuant to the terms and conditions of the plan at an exercise price of $1.00 per share, vesting annually in equal amounts on December 31, 2001, 2002 and 2003 and with an exercise period of five (5) years from the date of grant of such options. However, if there is a Change in Control (as defined below), all such stock options shall become vested as of the date of such Change in Control.

Incentive Stock Option Plan. Executive shall be entitled to participate in the Company's 1998 Incentive Stock Option Plan. As of the Effective Date of this Agreement, the Company shall cause to be issued to Executive stock options (in addition to the stock options previously issued to Executive) to purchase 750,000 300,000 shares of the Company's common stock pursuant to the terms and conditions of the plan at an exercise price of $1.00 per share, vesting annually in equal amounts on December 31, 2001, 2002 and 2003 and with an exercise period of five (5) years from the date of grant of such options. However, if there is a Change in Control (as defined below), all such stock options shall become vested as of the date of such Change in Control.