Grant of Nonqualified Stock Option. Pursuant to the provisions of the Plan, the Company hereby grants to the Optionee, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, an Option to purchase [Number of Shares] ([ ]) shares of the Company's common stock, par value $0.01 per share ("Stock"), at the purchase price of $[ ] per share, such Option to be exercisable and exercised as hereinafter provided. The Option granted under this Part II is not an incentive stock option within the meaning of Section 422 of the Code.
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Grant of Nonqualified Stock Option. Pursuant to the provisions of the Union Drilling, Inc. Amended and Restated 2000 Stock Option Plan (the "Plan"), the Company hereby grants to the Optionee, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, an Option option ("Option") to purchase [Number of Shares] ([ ]) shares of the Company's common stock, par value $0.01 per share ("Stock"), at the purchase price of $[ ] per share, such Option to be exercisable and exercised as hereinafter provided. The Option granted under this Part II is not an incentive stock option within the meaning of Section 422 of the Code.
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