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. (b) The Option is a non-qualified stock option, and is not intended by the Company and the Option Holder to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

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. (b) The Option is a non-qualified stock option, and is not intended by the Company and the Option Holder to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 2. Vesting and Term of the Option.

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. (b) The Option is a non---qualified stock option, and is not intended by the Company and the Option Holder to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

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. (b) The Option is a non-qualified stock option, and is not intended by the Company and the Option Holder to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.