Common use of Option Grant and Exercise Price Clause in Contracts

Option Grant and Exercise Price. (a) Effective as of October 26, 2006 the Company hereby grants to the Option Holder the right and option (the "Option") to purchase, on the terms and conditions set forth in this Agreement and in the Plan, Eight hundred and fifty thousand (850,000) shares of its common stock, par value $0.01 per share ("Common Stock"), at an exercise price of $0.15 per share. The Option exercise price was determined in accordance with Section 2(p) of the Plan.

Option Grant and Exercise Price. (a) Effective as of October 26February 16, 2006 2006, the Company hereby grants to the Option Holder the right and option (the "“Option"”) to purchase, on the terms and conditions set forth in this Agreement and in the Plan, Eight hundred and fifty thousand One Million (850,0001,000,000) shares of its common stock, par value $0.01 per share ("“Common Stock"”), at an exercise price of $0.15 0.35 per share. The Option exercise price was determined in accordance with Section 2(p) of the Plan.