Equity. Subject to approval by the Board, you will receive stock options to purchase 250,000 shares of the Companys Common Stock for a price per share equal to the fair market value of one share of the Common Stock on the date of the option grant as determined by the Board and pursuant and subject to the terms of the Companys Option Agreement (which must be
Subject to the approval of the Board of Directors of the Company, the Company may grant to you an incentive stock option (the Option) under the Companys Stock Incentive Plan (the Plan) for the purchase of an aggregate of sixty thousand (60,000) shares of common stock of the Company at a price per share equal to the fair market value at the time of Board approval. The Option shall be subject to all terms, vesting schedules and other provisions set forth in the Plan and in a separate option agreement.
Options. We will recommend to the Board of Directors of the Company that you be granted the opportunity to purchase up to seven hundred and fifty thousand (750,000) shares of Common Stock of the Company (the Option) under our 2006 Stock Plan (the Plan) at the fair market value of the Companys Common Stock, as determined by the Board of Directors on the date the Board approves such grant. The shares you will be given the opportunity to purchase will vest at the rate of 25% percent at the end of your first anniversary with the Company, and an additional 2.08333% percent per month thereafter, so long as you remain continuously employed by the Company. However, the grant of such options by the Company is subject to the Boards approval and this promise to recommend such approval is not a promise of compensation and is not intended to create any obligation on the part of the Company. Further details on the Plan and any specific option grant to you will be provided upon approval of such grant by the Companys Board of Directors.
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