Common use of Initial Option Grant Clause in Contracts

Initial Option Grant. In consideration of the undertakings by the Doctor and the LP herein, Diomed hereby grants to the LP an option (the "Initial Option") to purchase 30,000 shares of Diomed Common Stock at a purchase price of $2.25 per share under the 2001 Stock Option Plan adopted by Diomed (the "Plan"). The Initial Option shall be fully vested on issuance and exercisable for a period of two (2) years from the date of grant. The Initial Option will be non transferable and may only be exercised on the condition that the Doctor executes the Stockholder Agreement attached herewith as Exhibit C (as it may be amended from time to time). The Initial Option (and shares issued on exercise thereof) shall also be subject to all provisions of the Certificate of Incorporation and Bylaws of Diomed, or successor entity, as from time to time revised or amended or terms of any conversion of the options in connection with a merger or acquisition with another company so long as the holder is treated on a xxxx xxxxx basis.

Initial Option Grant. In consideration of the undertakings by the Doctor and the LP LLC herein, Diomed hereby grants to the LP LLC an option (the "Initial Option") to purchase 30,000 shares of Diomed Common Stock at a purchase price of $2.25 per share under the 2001 Stock Option Plan adopted by Diomed (the "Plan"). The Initial Option shall be fully vested on issuance and exercisable for a period of two (2) years from the date of grant. The Initial Option will be non transferable and may only be exercised on the condition that the Doctor executes the Stockholder Agreement attached herewith as Exhibit C (as it may be amended from time to time). The Initial Option (and shares issued on exercise thereof) shall also be subject to all provisions of the Certificate of Incorporation and Bylaws of Diomed, or successor entity, as from time to time revised or amended or terms of any conversion of the options in connection with a merger or acquisition with another company so long as the holder is treated on a xxxx xxxxx basis.

Initial Option Grant. In consideration of the undertakings by the Doctor and the LP LLC herein, Diomed hereby grants to the LP LLC an option (the "Initial Option") to purchase 30,000 shares of Diomed Common Stock at a purchase price of $2.25 per share under the 2001 Stock Option Plan adopted by Diomed (the "Plan"). The Initial Option shall be fully vested on issuance and exercisable for a period of two (2) years from the date of grant. The Initial Option will be non transferable and may only be exercised on the condition that the Doctor executes the Stockholder Agreement attached herewith as Exhibit C (as it may be amended from time to time). The Initial Option (and shares issued on exercise thereof) shall also be subject to all provisions of the Certificate of Incorporation and Bylaws of Diomed, or successor entity, as from time to time revised or amended or terms of any conversion of the options in connection with a merger or acquisition with another company so long as the holder is treated on a xxxx xxxxx pari parsu basis.

Initial Option Grant. In consideration of the undertakings by the Doctor and the LP herein, Diomed hereby grants to the LP an option (the "Initial Option") to purchase 30,000 shares of Diomed Common Stock at a purchase price of $2.25 per share under the 2001 Stock Option Plan adopted by Diomed (the "Plan"). The Initial Option shall be fully vested on issuance and exercisable for a period of two (2) years from the date of grant. The Initial Option will be non transferable and may only be exercised on the condition that the Doctor executes the Stockholder Agreement attached herewith as Exhibit C (as it may be amended from time to time). The Initial Option (and shares issued on exercise thereof) shall also be subject to all provisions of the Certificate of Incorporation and Bylaws of Diomed, or successor entity, as from time to time revised or amended or terms of any conversion of the options in connection with a merger or acquisition with another company so long as the holder is treated on a xxxx xxxxx pari parsu basis.