Common use of Initial Stock Option Grant Clause in Contracts

Initial Stock Option Grant. Effective as of the date hereof, but -------------------------- subject to the approval by the Company's shareholders of an amendment to the Company's 1997 Stock Plan to increase the number of shares available for issuance thereunder, the Company shall grant Executive an option (the "Option") to purchase 150,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), at an exercise price of $8.00 per share. To the extent not inconsistent with the terms of this Agreement, the Option shall be subject to the terms of a stock option agreement in substantially the form attached hereto as Exhibit B (the "Option Agreement"). The Option shall become exercisable on a cumulative basis as follows, provided that Executive continues in the employment of the Company through the applicable vesting date(s):

Initial Stock Option Grant. Effective as of the date hereof, but -------------------------- subject to the approval by the Company's shareholders of an amendment to the Company's 1997 Stock Plan to increase the number of shares available for issuance thereunder, the Company shall grant Executive an option (the "Option") to purchase 150,000 200,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), at an exercise price of $8.00 per share. To the extent not inconsistent with the terms of this Agreement, the Option shall be subject to the terms of a stock option agreement in substantially the form attached hereto as Exhibit B (the "Option Agreement"). The Option shall become exercisable on a cumulative basis as follows, provided that Executive continues in the employment of the Company through the applicable vesting date(s):

Initial Stock Option Grant. Effective as of the date hereof, but -------------------------- subject to the approval by the Company's shareholders of an amendment to the Company's 1997 Stock Plan to increase the number of shares available for issuance thereunder, the Company shall grant Executive an option (the "Option") to purchase 150,000 200,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), at an exercise price of $8.00 per share. To the extent not inconsistent with the terms of this Agreement, the Option shall be subject to the terms of a stock option agreement in substantially the form attached hereto as Exhibit B (the "Option Agreement"). The Option shall become exercisable on a cumulative basis as follows, provided that Executive continues in the employment of the Company through the applicable vesting date(s):

Initial Stock Option Grant. Effective as of the date hereof, but -------------------------- subject to the approval by the Company's shareholders of an amendment to the Company's 1997 Stock Plan to increase the number of shares available for issuance thereunder, the Company shall grant Executive an option (the "Option") to purchase 150,000 2,500,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), at an exercise price of $8.00 per share. To the extent not inconsistent with the terms of this Agreement, the Option shall be subject to the terms of a stock option agreement in substantially the form attached hereto as Exhibit B (the "Option Agreement"). The Option shall be exercisable for ten (10) years after the date of grant except as otherwise specifically provided herein. The Option shall become exercisable on a cumulative basis as follows, provided that Executive continues in the employment of the Company through the applicable vesting date(s):

Initial Stock Option Grant. Effective as of the date hereof, but -------------------------- subject to the approval by the Company's shareholders of an amendment to the Company's 1997 Stock Plan to increase the number of shares available for issuance thereunder, the Company shall grant Executive an option (the "Option") to purchase 150,000 2,500,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), at an exercise price of $8.00 per share. To the extent not inconsistent with the terms of this Agreement, the Option shall be subject to the terms of a stock option agreement in substantially the form attached hereto as Exhibit B (the "Option Agreement"). The Option shall be exercisable for ten (10) years after the date of grant except as otherwise specifically provided herein. The Option shall become exercisable on a cumulative basis as follows, provided that Executive continues in the employment of the Company through the applicable vesting date(s):