Common use of Qualified Stock Options Clause in Contracts

Qualified Stock Options. (a) Xxxxxx shall be issued 500,000 stock options from the company with a $.10 per option strike price. Such options shall vest at the rate of 33 and third percent on an annual basis for three years. This plan will be consistent with the executive stock option plan and part of a qualified stock option plan. The Company shall cancel options not vested upon termination or resignation. Under the terms hereinabove, immediately and Xxxxxx will have 60 days to exercise all vested stock options. Options shall automatically expire seven years from date they are vested.

Qualified Stock Options. (a) Xxxxxx Xxxxxxxx shall be issued 500,000 stock options from the company with a $.10 per option strike price. Such options shall vest at the rate of 33 and third percent on an annual basis for three years. This plan will be consistent with the executive stock option plan and part of a qualified stock option plan. The Company shall cancel options not vested upon termination or resignation. Under the terms hereinabove, immediately and Xxxxxx Xxxxxxxx will have 60 days to exercise all vested stock options. Options shall automatically expire seven years from date they are vested.

Qualified Stock Options. (a) Xxxxxx shall be issued 500,000 325,000 stock options from the company with a $.10 per option strike price. Such options shall vest at the rate of 33 and third percent on an annual basis for three years. This plan will be consistent with the executive stock option plan and part of a qualified stock option plan. The Company shall cancel options not vested upon termination or resignation. Under the terms hereinabove, immediately and Xxxxxx will have 60 days to exercise all vested stock options. Options shall automatically expire seven years from date they are vested.

Qualified Stock Options. (a) Xxxxxx Cxxxxx shall be issued 500,000 325,000 stock options from the company with a $.10 per option strike price. Such options shall vest at the rate of 33 and third percent on an annual basis for three years. This plan will be consistent with the executive stock option plan and part of a qualified stock option plan. The Company shall cancel options not vested upon termination or resignation. Under the terms hereinabove, immediately and Xxxxxx Cxxxxx will have 60 days to exercise all vested stock options. Options shall automatically expire seven years from date they are vested.