Common use of Initial Options Clause in Contracts

Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, a number of shares equal to two percent (2%) of the Company's common shares issued in the IPO, but not more than 727,272 common shares (the "Common Shares"). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable on the first anniversary of the IPO, 33 1/3% of the Initial Options shall

Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, a number of 33,333 common shares equal to two percent (2%) of the Company's common shares issued in the IPO, but not more than 727,272 common shares Company (the "Common Shares"). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable on the first anniversary of the IPO, 33 1/3% of the Initial Options shall

Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, a number of 67,000 common shares equal to two percent (2%) of the Company's common shares issued in the IPO, but not more than 727,272 common shares Company (the "Common Shares"). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable on the first anniversary of the IPO, 33 1/3% of the Initial Options shall

Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, a number of 302,000 common shares equal to two percent (2%) of the Company's common shares issued in the IPO, but not more than 727,272 common shares Company (the "Common Shares"). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable on the first anniversary of the IPO, 33 1/3% of the Initial Options shall