Common use of IPO Stock Options Clause in Contracts

IPO Stock Options. On the Effective Date, the Executive shall be granted options under the Company’s 2006 Omnibus Stock Incentive Plan (the “SIP”) to purchase $3,000,000 worth of shares of the Common Stock (using the offering price shown on the cover of the Company’s IPO Form S-1) at an exercise price equal to the offering price shown on the cover of the Company’s IPO Form S-1 (the “IPO Stock Options”). Such IPO Stock Options shall be evidenced by, and subject to, the stock option agreement attached hereto as Exhibit B.

IPO Stock Options. On the Effective Date, the Executive shall be granted options under the Company’s 2006 Omnibus Stock Incentive Plan (the “SIP”) to purchase $3,000,000 6,000,000 worth of shares of the Common Stock (using the offering price shown on the cover of the Company’s IPO Form S-1) at an exercise price equal to the offering price shown on the cover of the Company’s IPO Form S-1 (the “IPO Stock Options”). Such IPO Stock Options shall be evidenced by, and subject to, the stock option agreement attached hereto as Exhibit B.