Common use of Sign-On Stock Option Grant Clause in Contracts

Sign-On Stock Option Grant. The Executive shall be granted a stock option under the Company's 2006 Stock and Option Plan (the "Stock Plan"), to purchase 100,000 shares of the Company's common stock at a price equal to the Fair Market Value of Vertex's shares, as defined in the Stock Plan, on the Effective Date. The option will vest and become exercisable as to equal numbers of shares of stock quarterly in arrears over the four year period commencing on the Effective Date, and as otherwise specified herein and in the Stock Plan, and shall be subject to the other terms and conditions specified in a separate grant agreement.

Sign-On Stock Option Grant. The Executive shall be granted a stock option under the Company's 2006 Stock and Option Plan (the "Stock Plan"), existing stock option plan to purchase 100,000 150,000 shares of the Company's common stock at a price equal to the Fair Market Value of Vertex's shares, as defined in the Company's 1996 Stock and Option Plan, on the Effective Date. The option will vest and become exercisable as to equal numbers of shares of stock quarterly in arrears over the four five (5) year period commencing on the Effective Date, and as otherwise specified herein and in the Stock PlanCompany's stock option plan, and shall be subject to the other terms and conditions specified in a separate grant agreement.

Sign-On Stock Option Grant. The Executive shall be granted a stock option under the Company's ’s 2006 Stock and Option Plan (the "“Stock Plan"), ”) to purchase 100,000 72,500 shares of the Company's ’s common stock at a price equal to the Fair Market Value of Vertex's ’s shares, as defined in the Stock Plan, on the Effective Date. The option will vest and become exercisable as to equal numbers of shares of stock quarterly in arrears over the four year period commencing on the Effective Date, and as otherwise specified herein and in the Stock Plan, and shall be subject to the other terms and conditions specified in a separate grant agreement.agreement attached hereto as Exhibit A.

Sign-On Stock Option Grant. The Executive shall be granted a stock option under the Company's 2006 ’s 2013 Stock and Option Plan (the "“Stock Plan"), ”) to purchase 100,000 68,000 shares of the Company's ’s common stock at a price equal to the Fair Market Value of Vertex's ’s shares, as defined in the Stock Plan, on the Effective Date. The option will vest and become exercisable as to equal numbers of shares of stock quarterly in arrears over the four year period commencing on the Effective Date, and as otherwise specified herein and in the Stock Plan, and shall be subject to the other terms and conditions specified in a separate grant agreement.agreement attached hereto as Exhibit B.

Sign-On Stock Option Grant. The Executive shall be granted a stock option under the Company's 2006 Stock and Option Plan (the "Stock Plan"), ’s existing stock option plan to purchase 100,000 shares of the Company's ’s common stock at a price equal to the Fair Market Value of Vertex's ’s shares, as defined in the Company’s 2006 Stock and Option Plan, on the Effective Date. The option will vest and become exercisable as to equal numbers of shares of stock quarterly in arrears over the four (4) year period commencing on the Effective Date, and as otherwise specified herein and in the Company’s 2006 Stock Planand Option plan, and shall be subject to the other terms and conditions specified in a separate grant agreement.