Common use of Employee Option Pool Clause in Contracts

Employee Option Pool. From the date hereof to the Effective Time, the Company may grant Company Stock Options from the Employee Option Pool to persons identified as key employees of the Company and to newly-hired employees of the Company, in each case, who are not officers of the Company. All Company Stock Options granted in respect of the Employee Option Pool shall (A) be granted under, and except as provided herein, be subject to the terms and conditions of, the Company 2000 Nonstatutory Equity Incentive Plan (the "2000 Plan"), (B) have an exercise price equal to the Fair Market Value (as defined in the 2000 Plan) of the shares of Company Common Stock on the date of grant and (C) vest as follows: twenty-five percent on the first anniversary of the grant date and 1/48 on each one-month anniversary thereafter, provided such employee is employed with the Company or its successor on each such anniversary.