Annual Grants. On or about the Commencement Date and each anniversary of the Commencement Date thereafter during the Employment Term, Executive shall be granted:

Annual Grants. All Awards granted under this Section shall comply in all respects with the terms and conditions of the Plan.

Annual Grants. As of December 31 of each calendar year in which an individual is a Director, and provided such individual is a Director on such date, such individual shall be automatically entitled to receive an Award with a Fair Market Value (in the case of Options, as such value is determined by the Board in its sole discretion) on the date of grant equal to # 50% of the Director’s Total Remuneration for such calendar year (rounded to the nearest whole share as of such date) or # such other lesser amount as determined in the discretion of the Board; but in no event shall any Award have a Fair Market Value greater than $150,000.

Annual Grants. On the date of each annual meeting of the Company’s stockholders, each person who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting (other than any Non-Employee Director receiving an Initial Option on the date of such annual meeting) automatically will be granted a Nonstatutory Stock Option to purchase 45,000 shares of Common Stock (an “Annual Option”).

Annual Grants. On the date of each annual meeting of the Company’s stockholders each person who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting (other than any Non-Employee Director receiving a First Director Option on the date of such annual meeting) automatically will be granted a Nonstatutory Stock Option to purchase 83,000 shares of Common Stock (a “Subsequent Director Option”). For the avoidance of doubt, an executive chairman of the Board will not be eligible to receive a Subsequent Director Option pursuant to this Section 2(b).

Annual Grants. On the date of each annual meeting of the Company’s stockholders, each person who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting (other than any Non-Employee Director receiving a First Director Option on the date of such annual meeting) automatically will be granted a nonqualified stock option to purchase 70,000 shares of Common Stock (a “Subsequent Director Option”). For the avoidance of doubt, the Executive Chairman of the Board will not be eligible to receive a Subsequent Director Option pursuant to this Section 2(b).

Annual Grants. On the date of each annual meeting of the Company’s stockholders after the Effective Date, each individual who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting automatically will be granted a nonstatutory stock option to purchase 15,000 shares of Common Stock (an “Annual Option Grant”), provided that such individual has served as a Non-Employee Director for at least six (6) months prior to the date of such annual meeting.

Annual Grants. On the date of each annual meeting of the Company’s stockholders each person who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting (other than any Non-Employee Director receiving a First Director Option on the date of such annual meeting) automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (a “Subsequent Director Option”). For the avoidance of doubt, the Executive Chairman of the Board will not be eligible to receive a Subsequent Director Option pursuant to this Section 2(b).

Annual Grants. On the date of each annual meeting of the Company’s stockholders: # each person who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting (other than any Non-Employee Director receiving an Initial Option on the date of such annual meeting) automatically will be granted a Nonstatutory Stock Option to purchase 45,000 shares of Common Stock; and # the Chair of the Board automatically will be granted an additional Nonstatutory Stock Option to purchase 10,000 shares of Common Stock. Each of the options granted pursuant to (i) and (ii), is referred to as an “Annual Option”. The foregoing notwithstanding, the first Annual Option to be granted pursuant to # above (the “First Chair Grant”) shall be granted on January 1, 2020, and shall be for 15,000 shares rather than 10,000 shares, and no grant pursuant to # above shall be made at the 2020 annual meeting of the Company’s stockholders.

Annual Grants. On the date of each annual meeting of the Company’s stockholders (starting with the 2019 annual meeting of stockholders), each person who is then a Non-Employee Director and will be continuing as a Non-Employee Director following the date of such annual meeting (other than any Non-Employee Director receiving an Initial Option on the date of such annual meeting) automatically will be granted a Nonstatutory Stock Option to purchase 35,000 shares of Common Stock (an “Annual Option”); provided, however, that if the Non-Employee Director has not served as a Non-Employee Director for 12 months prior to the applicable annual meeting, the number of shares will be pro-rated for the number of full months served on the Board prior to the date of grant, rounded to the nearest whole share. For example, if a Non-Employee Director was appointed in September 2018, and the 2019 annual meeting of stockholders is held in June 2019, such Non-Employee Director would receive an Annual Option at the 2019 annual meeting of stockholders for 20,417, or 10/12 of 35,000, shares.