Common use of Initial Option Award Clause in Contracts

Initial Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as of the Effective Date, options to purchase one hundred thirty thousand (130,000) shares of the Company’s common stock, $0.001 par value per share, having an exercise price equal to the fair market value of one share of the Company’s common stock as of the Effective Date as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Initial Options Award”). The Initial Options Award shall vest in four (4) equal amounts on the first, second, third and fourth anniversaries of the Effective Date, provided that Executive is employed on each vesting date. The Initial Options Award shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving the Initial Options Award, Executive shall become party to the Stockholders Agreement dated May 2, 2005, as amended from time to time, by and among the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stock.

Initial Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as As of the Effective Date, the Executive shall be granted options (the "Initial Option") to purchase one hundred thirty thousand (130,000) 200,000 shares of the Company’s common stock, $0.001 par value per share, having stock of the Company ("Common Stock") at an exercise price equal to the fair market value of one per share of the Company’s common stock as of Common Stock on the Effective Date as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Initial Options Award”$45.75). The Initial Options Award Option shall vest be immediately exercisable with respect to 20% of the shares of Common Stock subject thereto, and, unless accelerated pursuant to another provision of this Agreement, the remainder will become exercisable in four (4) equal amounts 20% increments on the first, second, third and fourth anniversaries each successive anniversary of the Effective Date, provided such that Executive is employed the Initial Option will become 100% exercisable on each vesting datethe fourth anniversary of the Effective Date. The Initial Options Award Option shall be granted pursuant to the 1996 Fluor Executive Stock Plan (the "ESP") and for purposes of determining the Executive's rights with respect to the Initial Option upon termination of employment due to retirement, any termination of the Executive's employment by the Company without "Cause" (as hereinafter defined) or termination by the Executive for "Good Reason" (as hereinafter defined) would be deemed to constitute an approved retirement. The Initial Option shall be composed of two types of options, with 189,075 shares of Common Stock subject to all a non-qualified stock option ("Initial NQSO") and 10,925 shares subject to an incentive stock option ("ISO"'). The ISO is intended to be an "incentive stock option" within Section 422 of the terms Internal Revenue Code of 1986, as amended (the "Code"), to the maximum extent possible. The Initial NQSO will be evidenced by a Non-Qualified Stock Option Agreement and conditions imposed upon such awards granted under the Stock Plan and shall ISO will be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving the Initial Options Award, Executive shall become party to the Stockholders Agreement dated May 2, 2005, as amended from time to time, by and among between the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stockExecutive.

Initial Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as of on the Effective Date, options to purchase one two hundred thirty thousand (130,000200,000) shares of the Company’s common stock, $0.001 par value per share, having an exercise price equal to the fair market value of one share of the Company’s common stock as of the Effective Date as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Initial Options Award”). The Initial Options Award shall vest in four (4) equal amounts and successive increments of fifty thousand (50,000) shares on the first, second, third and fourth anniversaries of the Effective Date, provided that Executive is employed on each vesting date. The Initial Options Award shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee; provided, however, any provision in the Stock Plan, including the limitations of Section 10.2 of the Stock Plan, relating to “Parachute Payments” under Internal Revenue Code Section 280G(b)(2) shall not apply to the Initial Options Award or a future Award. As a condition to receiving the Initial Options Award, Executive shall become party to the Stockholders Agreement dated May 2, 2005, as amended from time to time, by and among the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stock.

Initial Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as As of the Effective Date, the Executive shall be granted options (the "Initial Option") to purchase one hundred thirty thousand (130,000) 200,000 shares of the Company’s common stock, $0.001 par value per share, having stock of the Company ("Common Stock") at an exercise price equal to the fair market value of one per share of the Company’s common stock as of Common Stock on the Effective Date as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Initial Options Award”$45.75). The Initial Options Award Option shall vest be immediately exercisable with respect to 20% of the shares of Common Stock subject thereto, and, unless accelerated pursuant to another provision of this Agreement, the remainder will become exercisable in four (4) equal amounts 20% increments on the first, second, third and fourth anniversaries each successive anniversary of the Effective Date, provided such that Executive is employed the Initial Option will become 100% exercisable on each vesting datethe fourth anniversary of the Effective Date. The Initial Options Award Option shall be granted pursuant to the 1996 Fluor Executive Stock Plan (the "ESP") and for purposes of determining the Executive's rights with respect to the Initial Option upon termination of employment due to retirement, any termination of the Executive's employment by the Company without "Cause" (as hereinafter defined) or termination by the Executive for "Good Reason" (as hereinafter defined) would be deemed to constitute an approved retirement. The Initial Option shall be composed of two types of options, with 189,075 shares of Common Stock subject to all a non- qualified stock option ("Initial NQSO") and 10,925 shares subject to an incentive stock option ("ISO"'). The ISO is intended to be an "incentive stock option" within Section 422 of the terms Internal Revenue Code of 1986, as amended (the "Code"), to the maximum extent possible. The Initial NQSO will be evidenced by a Non-Qualified Stock Option Agreement and conditions imposed upon such awards granted under the Stock Plan and shall ISO will be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving the Initial Options Award, Executive shall become party to the Stockholders Agreement dated May 2, 2005, as amended from time to time, by and among between the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stockExecutive.

Initial Option Award. The Board or any committee Subject to the terms of the Board Company’s 2019 Equity Incentive Plan or other newly adopted equity incentive plan of the Company (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as and the form of stock option agreement issued thereunder, promptly following the Effective Date, options the Company will issue the Executive an incentive stock option under Section 422 of the Code (as defined below) to purchase one hundred thirty thousand (130,000the “Initial Option Award”) 353,602 shares of the Company’s common stock, $0.001 par value per share, having an stock (the “Initial Shares”). The Initial Option Award shall include the following additional terms: (1) the exercise price per share for the Initial Shares shall be equal to the per share fair market value of one share of the Company’s common stock as reflected in the most recent 409A valuation report obtained by the Company following the initial closing of the Company’s Series B Preferred financing; (2) subject to the Executive’s continued employment and the terms and conditions of the Equity Incentive Plan, (y) 2/3rds of the Initial Shares shall vest and become exercisable in equal monthly installments on the last day of each full month over the forty-eight (48) months following the Effective Date as determined and (z) 1/3rd of the Initial Shares shall vest upon the Company achieving certain key performance indicators to be established by the Board or the Compensation Committee at within forty-five (45) days of the earliest practicable timeclosing of the de-SPAC Transactions after considering the input from the Company’s senior leadership team and after consideration the tax implications of the achievement of such key performance indicators; and (3) in the event that during the Employment Period the Company consummates a Change in Control (as defined below) and the Initial Option Award is not assumed, which options shall be continued or substituted by the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) in such Change in Control in the manner contemplated by Section 9(c)(i) of the Equity Incentive Plan, then 100% of the unvested Initial Shares subject to certain restrictions (the “Initial Options Award”). The Initial Options Option Award shall fully vest and become exercisable immediately prior to the effectiveness of such Change in four (4) equal amounts on the firstControl, second, third and fourth anniversaries of the Effective Date, provided that Executive is employed on each vesting date. The Initial Options Award shall be granted pursuant to and shall be subject to all the Executive’s continued employment with the Company as of each such date and as further provided in the terms and conditions imposed upon such awards granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving of this Agreement, the Initial Options Award, Executive shall become party to Option Award and the Stockholders Agreement dated May 2, 2005, as amended from time to time, by and among the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stockEquity Incentive Plan.

Initial Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as of the Effective Date, options to purchase one hundred thirty thousand Eighty Thousand (130,00080,000) shares of the Company’s common stock, $0.001 par value per share, having an exercise price of equal to the fair market value of one share of the Company’s common stock as of the Effective Date as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Initial Options Award”). The Initial Options Award shall vest in four (4) equal amounts and successive increments of twenty thousand (20,000) shares on the first, second, third third, and fourth anniversaries of the Effective Date, provided that Executive is employed on each vesting date. The Initial Options Award shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee; provided, however any provision in the Stock Plan, including the limitations of Section 10.2 of the Stock Plan relating to “Parachute Payments” under Internal Revenue Code Section 280G(b)(2) shall not apply to the Initial Options Award or future Award. . As a condition to receiving the Initial Options Award, Executive shall become party acknowledges that the Option Award, together with shares issued thereunder are subject to the Stockholders Agreement dated May 2, 2005, as may be amended from time to time, by and among the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stock.