Common use of Granting of Options Clause in Contracts

Granting of Options. 2.1 The Company may grant Options to Employees upon the approval of the Board of Directors. No Option shall be granted to an Employee unless the Employee and the Company or Affiliated Company, as the case may be, have entered into an employment agreement that specifies the terms and conditions of the Employee's performance of services for the Company or Affiliated Company and is in full force and effect on the date the Option is granted to the Employee. 2.2 The total number of Shares with respect to which Options may be granted pursuant to this Plan shall be 3,783,991 of three Guilder cents (NLG 0