Common use of Stock Options and RSUs Clause in Contracts

Stock Options and RSUs. Executive shall be eligible to participate in any stock option plan that Fenix may adopt, pursuant to which, in the discretion of Fenix’s board of directors (or of the committee of the board administering the plan for executive officers and senior management), Executive may be granted (i) options to purchase shares of Fenix common stock or (ii) restricted stock units to be settled in shares of Fenix common stock or cash, or a combination of the two. The parties anticipate that (i) the exercise price of any option granted to Executive would be the closing price of Fenix common stock on the date of the option grant (the “grant date”) and that (ii) the option would vest over four years, with 25% of the option shares vesting on each of the first four anniversaries of the grant date. The parties anticipate that any award of restricted stock units to Executive would vest in a similar manner.