Common use of Incentive Option Grant Clause in Contracts

Incentive Option Grant. The Corporation hereby grants to the Executive, on the Effective Date of this Agreement, options to purchase, subject to Section 3d below (the “Incentive Option Grant”), an aggregate of Two Million Eighty Two Thousand Three Hundred (2,082,300) shares of Corporation Common Stock (the “Option Shares”), at a purchase price of [$0.02] per share (the “Option Price”). The number of Option Shares shall be subject to appropriate reduction and the Option Price shall be subject to appropriate increase in the event of a reverse split of the Corporation’s outstanding Common Stock. Conversely, the number of Option Shares shall be subject to appropriate increase and the Option Price shall be subject to appropriate reduction (but not lower than the par value per share) in the event of a forward split of the Corporation’s outstanding Common Stock.

Incentive Option Grant. The Corporation hereby grants to the Executive, on the Effective Date of this Agreement, options to purchase, subject to Section 3d below (the “Incentive Option Grant”), an aggregate of Two One Million Eighty Two Eight Hundred Twenty Eight Thousand Three Five Hundred Fifty (2,082,3001,828,550) shares of Corporation Common Stock (the “Option Shares”), at a purchase price of [$0.02] 0.02 per share (the “Option Price”). The number of Option Shares shall be subject to appropriate reduction and the Option Price shall be subject to appropriate increase in the event of a reverse split of the Corporation’s outstanding Common Stock. Conversely, the number of Option Shares shall be subject to appropriate increase and the Option Price shall be subject to appropriate reduction (but not lower than the par value per share) in the event of a forward split of the Corporation’s outstanding Common Stock.