Common use of Bonus and Stock Options Clause in Contracts

Bonus and Stock Options. The employee will be eligible to be issued a bonus based on performance and, additionally, to participate in any stock option or other equity compensation plan adopted by Company during the term of this Agreement and applicable to other employees at the employee’s level (the “Plan”). The number of options, vesting schedule, exercise price, and all other terms and conditions of the stock options shall be set forth in an option agreement pursuant to the applicable plan and shall be commensurate with employee’s position, as determined by the Plan Administrator charged with administering the Plan in behalf of the Board of Directors, in its sole discretion. The Company may, consistent with its obligations under such a plan or plans, amend or discontinue any or all stock option plans at any time. Contingent upon employee executing this Agreement and as part of the consideration for employee’s services and being bound by the obligations set forth herein, the Company will grant the employee upon the completion of twelve (12) months of the date hereof and annually on the anniversary each and every year that follows, during the employee’s continuous employment, upon an annual review, an option to purchase additional shares of the Company’s restricted common stock, which shall be subject to the terms and conditions set forth in this the Stock Option Agreement(s) attached hereto as Exhibit A. Employee understands and acknowledges that such option cannot be exercised unless and until the issuance of the option has been approved by the Company’s Board of Directors.

Bonus and Stock Options. The employee Consultant will be eligible to be issued a bonus based on performance and, additionally, to participate in any stock option or other equity compensation plan adopted by Company during the term of this Agreement and applicable to other employees at the employeeConsultant’s level (the “Plan”). The number of options, vesting schedule, exercise price, and all other terms and conditions of the stock options shall be set forth in an option agreement pursuant to the applicable plan and shall be commensurate with employeeConsultant’s position, as determined by the Plan Administrator Committee of the Company’s Board of Directors charged with administering the Plan in behalf of the Board of DirectorsPlan, in its sole discretion. The Company may, consistent with its obligations under such a plan or plans, amend or discontinue any or all stock option plans at any time. Contingent upon employee Consultant executing this Agreement and as part of the consideration for employeeConsultant’s services and being bound by the obligations set forth herein, the Company will grant the employee Consultant upon the completion of twelve (12) months of the date hereof and annually on the anniversary each and every year that follows, during the employeeConsultant’s continuous employment, upon an annual reviewconsulting, an option to purchase additional 250,000 shares of the Company’s restricted common stock, which shall be subject to the terms and conditions set forth in this the Stock Option Agreement(s) attached hereto as Exhibit A. Employee Consultant understands and acknowledges that such option cannot be exercised unless and until the issuance of the option has been approved by the Company’s Board of Directorsstockholders.

Bonus and Stock Options. The employee Consultant will be eligible to be issued a bonus based on performance and, additionally, to participate in any stock option or other equity compensation plan adopted by Company during the term of this Agreement and applicable to other employees at the employeeConsultant’s level (the “Plan”). The number of options, vesting schedule, exercise price, and all other terms and conditions of the stock options shall be set forth in an option agreement pursuant to the applicable plan and shall be commensurate with employeeConsultant’s position, as determined by the Plan Administrator Committee of the Company’s Board of Directors charged with administering the Plan in behalf of the Board of DirectorsPlan, in its sole discretion. The Company may, consistent with its obligations under such a plan or plans, amend or discontinue any or all stock option plans at any time. Contingent upon employee Consultant executing this Agreement and as part of the consideration for employeeConsultant’s services and being bound by the obligations set forth herein, the Company will grant the employee Consultant upon the completion of twelve (12) months of the date hereof and annually on the anniversary each and every year that follows, during the employeeConsultant’s continuous employment, upon an annual reviewconsulting, an option to purchase additional 500,000 shares of the Company’s restricted common stock, which shall be subject to the terms and conditions set forth in this the Stock Option Agreement(s) attached hereto as Exhibit A. Employee Consultant understands and acknowledges that such option cannot be exercised unless and until the issuance of the option has been approved by the Company’s Board of Directorsstockholders.