Common use of Option Awards Clause in Contracts

Option Awards. Employer shall grant to the Executive Options to purchase 75,000 shares of Common Stock to be issued only if the Executive can achieve certain performance objectives. All Options granted pursuant to this paragraph shall: (i) be subject to an option agreement containing terms substantially similar to the terms generally provided in the option agreements of the Employer’s other senior managers (except as otherwise modified herein); (ii) have a term of 10 years from the date of grant; (iii) shall be fully vested and be exerciseable as follows: a. At the end of Employment Period one, at September, 30, 2006, Options with respect to 25,000 shares, with an exercise price equal to $12.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 4,800 booked moves. b. At the end of Employment Period two, at September, 30, 2007, Options with respect to 25,000 shares, with an exercise price equal to $15.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 9,000 booked moves. c. At the end of Employment Period three, at September, 30, 2008, Options with respect to 25,000 shares, with an exercise price equal to $17.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 12,000 booked moves. PROVIDED, HOWEVER, that upon a Change of Control, all Options that have not yet vested and become exerciseable shall be deemed to have vested and have become exerciseable as of the time immediately preceding such Change of Control; (iv) shall provide for cashless exercise of such Options; (v) be issued under a qualified omnibus long-term incentive plan (a “Plan”) that will provide for Incentive Stock Options pursuant to Internal Revenue Code (“Code”) Section 422, non-qualified stock options and other forms of long-term incentives. If the Employer does not have a Plan applicable to the Executive or if an existing Plan does not provide for the foregoing terms or if sufficient shares are not available for grant under an existing Plan, Employer undertakes to implement a Plan to provide for the issuance of Executive’s Options. Failure of the Employer to implement such a Plan shall not prevent Executive’s right to receive his Options and he may elect, in his sole discretion, to receive Options not subject to a Plan.

Option Awards. Employer shall grant to the Executive Options to purchase 75,000 96,000 shares of Common Stock to be issued only if the Executive can achieve certain performance objectives. All Options granted pursuant to this paragraph shall: (i) be subject to an option agreement containing terms substantially similar to the terms generally provided in the option agreements of the Employer’s other senior managers (except as otherwise modified herein); (ii) have a term of 10 years from the date of grant; (iii) shall be fully vested and be exerciseable as follows: a. At the end of Employment Period one, at September, 30, 2006, Options with respect to 25,000 32,000 shares, with an exercise price equal to $12.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 4,800 booked moves. b. At the end of Employment Period two, at September, 30, 2007, Options with respect to 25,000 32,000 shares, with an exercise price equal to $15.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 9,000 booked moves. c. At the end of Employment Period three, at September, 30, 2008, Options with respect to 25,000 32,000 shares, with an exercise price equal to $17.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 12,000 booked moves. PROVIDED, HOWEVER, that upon a Change of Control, all Options that have not yet vested and become exerciseable shall be deemed to have vested and have become exerciseable as of the time immediately preceding such Change of Control; (iv) shall provide for cashless exercise of such Options; (v) be issued under a qualified omnibus long-term incentive plan (a “Plan”) that will provide for Incentive Stock Options pursuant to Internal Revenue Code (“Code”) Section 422, non-qualified stock options and other forms of long-term incentives. If the Employer does not have a Plan applicable to the Executive or if an existing Plan does not provide for the foregoing terms or if sufficient shares are not available for grant under an existing Plan, Employer undertakes to implement a Plan to provide for the issuance of Executive’s Options. Failure of the Employer to implement such a Plan shall not prevent Executive’s right to receive his Options and he may elect, in his sole discretion, to receive Options not subject to a Plan.

Option Awards. Employer shall grant to the Executive Options to purchase 75,000 shares of Common Stock to be issued only if the Executive can achieve certain performance objectives. All Options granted pursuant to this paragraph shall: (i) be subject to an option agreement containing terms substantially similar to the terms generally provided in the option agreements of the Employer’s other senior managers (except as otherwise modified herein); (ii) have a term of 10 years from the date of grant; (iii) shall be fully vested and be exerciseable exercisable as follows: a. At the end of Employment Period one, at September, September 30, 20062007, Options with respect to 25,000 shares, with an exercise price equal to $10.00, shall be issued vest and be exercisable immediately; only if the company has reached the performance objective of 9,000 booked moves. b. At the end of Employment Period two, at September 30, 2007, Options with respect to 25,000 shares, with an exercise price equal to $12.00, shall be issued vest and be exerciseable exercisable immediately; only if the company has reached the performance objective of 4,800 booked moves. b. At the end of Employment Period two, at September, 30, 2007, Options with respect to 25,000 shares, with an exercise price equal to $15.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 9,000 12,000 booked moves. c. At the end of Employment Period three, at September, September 30, 2008, Options with respect to 25,000 shares, with an exercise price equal to $17.0014.00, shall be issued vest and be exerciseable exercisable immediately; only if the company has reached the performance objective of 12,000 15,000 booked moves. PROVIDED, HOWEVER, that upon a Change of Control, all Options that have not yet vested and become exerciseable exercisable shall be deemed to have vested and have become exerciseable exercisable as of the time immediately preceding such Change of Control; (iv) shall provide for cashless exercise of such Options; (v) be issued under a qualified omnibus long-term incentive plan (a “Plan”) that will provide for Incentive Stock Options pursuant to Internal Revenue Code (“Code”) Section 422, non-qualified stock options and other forms of long-term incentives. If the Employer does not have a Plan applicable to the Executive or if an existing Plan does not provide for the foregoing terms or if sufficient shares are not available for grant under an existing Plan, Employer undertakes to implement a Plan to provide for the issuance of Executive’s Options. Failure of the Employer to implement such a Plan shall not prevent Executive’s right to receive his Options and he may elect, in his sole discretion, to receive Options not subject to a Plan.

Option Awards. Employer shall grant to the Executive Options to purchase 75,000 96,000 shares of Common Stock to be issued only if the Executive can achieve certain performance objectives. All Options granted pursuant to this paragraph shall: (i) be subject to an option agreement containing terms substantially similar to the terms generally provided in the option agreements of the Employer’s other senior managers (except as otherwise modified herein); (ii) have a term of 10 years from the date of grant; (iii) shall be fully vested and be exerciseable exercisable as follows: a. At the end of Employment Period one, at September, September 30, 20062007, Options with respect to 25,000 32,000 shares, with an exercise price equal to $10.00, shall be issued vest and be exercisable immediately; only if the company has reached the performance objective of 9,000 booked moves. b. At the end of Employment Period two, at September 30, 2007, Options with respect to 32,000 shares, with an exercise price equal to $12.00, shall be issued vest and be exerciseable exercisable immediately; only if the company has reached the performance objective of 4,800 booked moves. b. At the end of Employment Period two, at September, 30, 2007, Options with respect to 25,000 shares, with an exercise price equal to $15.00, shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 9,000 12,000 booked moves. c. At the end of Employment Period three, at September, September 30, 2008, Options with respect to 25,000 32,000 shares, with an exercise price equal to $17.0014.00, shall be issued vest and be exerciseable exercisable immediately; only if the company has reached the performance objective of 12,000 15,000 booked moves. PROVIDED, HOWEVER, that upon a Change of Control, all Options that have not yet vested and become exerciseable exercisable shall be deemed to have vested and have become exerciseable exercisable as of the time immediately preceding such Change of Control; (iv) shall provide for cashless exercise of such Options; (v) be issued under a qualified omnibus long-term incentive plan (a “Plan”) that will provide for Incentive Stock Options pursuant to Internal Revenue Code (“Code”) Section 422, non-qualified stock options and other forms of long-term incentives. If the Employer does not have a Plan applicable to the Executive or if an existing Plan does not provide for the foregoing terms or if sufficient shares are not available for grant under an existing Plan, Employer undertakes to implement a Plan to provide for the issuance of Executive’s Options. Failure of the Employer to implement such a Plan shall not prevent Executive’s right to receive his Options and he may elect, in his sole discretion, to receive Options not subject to a Plan.

Option Awards. As of the date that this Agreement is approved by the Board and executed by the Executive, Employer shall grant to the Executive Options to purchase 75,000 750,000 shares of Common Stock with an exercise price equal to be issued only if the Executive can achieve certain performance objectivesaverage of the closing bid prices of the Common Stock on the OTC Electronic Bulletin Board for the five trading days preceding December 16, 2000. All Options granted pursuant to this paragraph shall: (i) be subject to an option agreement containing terms substantially similar to the terms generally provided in the option agreements of the Employer’s 's other senior managers (except as otherwise modified herein); (ii) have a term of 10 years from the date of grant; (iii) shall be fully vested vest and be exerciseable as follows: a. At the end of Employment Period one, at September, 30, 2006, Options with respect to 25,000 shares, with an exercise price equal to $12.00, 250,000 shares shall be issued vest and be exerciseable immediately; only if the company has reached the performance objective of 4,800 booked moves.; b. At the end of Employment Period two, at September, 30, 2007, Options with respect to 25,000 shares, with an exercise price equal to $15.00, 250,000 shares shall be issued vest and be exerciseable immediatelyon and after December 15, 2001; only if the company has reached the performance objective of 9,000 booked moves.and c. At the end of Employment Period three, at September, 30, 2008, Options with respect to 25,000 shares, with an exercise price equal to $17.00, 250,000 shares shall be issued vest and be exerciseable immediatelyon and after December 15, 2002; only if the company has reached the performance objective of 12,000 booked moves. PROVIDED, HOWEVER, that upon a Change of Control, all Options that have not yet vested and become exerciseable shall be deemed to have vested and have become exerciseable as of the time immediately preceding such Change of Control; (iv) shall provide for cashless exercise of such Options; (v) be issued under a qualified omnibus long-term incentive plan (a “"Plan”") that will provide for Incentive Stock Options pursuant to Internal Revenue Code (“"Code”") Section 422, non-qualified stock options and other forms of long-term incentives. If the Employer does not have a Plan applicable to the Executive or if an existing Plan does not provide for the foregoing terms or if sufficient shares are not available for grant under an existing Plan, Employer undertakes to implement a Plan to provide for the issuance of Executive’s 's Options. Failure of the Employer to implement such a Plan shall not prevent Executive’s 's right to receive his Options and he may elect, in his sole discretion, to receive Options not subject to a Plan.