Common use of Non-Statutory Stock Options Clause in Contracts

Non-Statutory Stock Options. Simultaneously with the execution of this Agreement, the Executive will receive a three-year non-statutory stock option to purchase up to Two Hundred Fifty Thousand (250,000) shares of unregistered $0.001 par value common stock of the Company at a strike price equal to fair market value on the agreed date of grant ($1.267), which option shall vest in twelve (12) equal monthly installments starting on January 31, 2022 (the “NSO”). The Executive understands and acknowledges that the Executive will be required to pay taxes on the exercise of the non-statutory stock option and is advised to consult his own tax advisors as to the advisability of making a Section 83(b) Election (which must be done within thirty (30) days) and other tax consequences.

Non-Statutory Stock Options. Simultaneously with the execution of this Agreement, the Executive will receive a three-year non-statutory stock option to purchase up to Two One Hundred Fifty Thousand (250,000100,000) shares of unregistered $0.001 par value common stock of the Company at a strike price equal to fair market value on the agreed date of grant ($1.267), which option shall vest in twelve (12) equal monthly installments starting on January 31, 2022 (the “NSO”). The Executive understands and acknowledges that the Executive will be required to pay taxes on the exercise of the non-statutory stock option and is advised to consult his own tax advisors as to the advisability of making a Section 83(b) Election (which must be done within thirty (30) days) and other tax consequences.

Non-Statutory Stock Options. Simultaneously with the execution of this Agreement, the Executive will receive a three-year non-statutory stock option to purchase up to Two Five Hundred Fifty Thousand (250,000500,000) shares of unregistered $0.001 par value common stock of the Company at a strike price equal to fair market value on the agreed date of grant ($1.267), which option shall vest in twelve six (126) equal monthly installments starting on January 31, 2022 (the “NSO”). The Executive understands and acknowledges that the Executive will be required to pay taxes on the exercise of the non-statutory stock option and is advised to consult his own tax advisors as to the advisability of making a Section 83(b) Election (which must be done within thirty (30) days) and other tax consequences.