Common use of Initial Stock Option Clause in Contracts

Initial Stock Option. Upon or near the Executive’s Start Date, Executive will receive an initial option grant to purchase 100,000 shares of the Company’s common stock, at a purchase price equal to the fair market value of the Company’s Common Stock on the date of grant (such fair market value to be determined by the closing price on the day prior to the date of grant ). The option will be subject to the terms and conditions applicable to options granted under the Company’s 2009 Stock Option Plan (the “Plan”), as described in the Plan and the applicable option agreement Executive will be required to sign. All shares subject to such option will vest over two years from the grant date, the “Vesting Commencement Date”). Twenty-five percent (25%) of the shares subject to such option shall vest on the 6-month anniversary of the Vesting Commencement Date and the remaining options shall vest in equal 6-month installments over the two years. The initial stock options will expire three years after the Vesting Commencement Date.

Initial Stock Option. Upon or near the Executive’s 's Start DateDate , Executive will receive an initial option grant to purchase 100,000 80,000 shares of the Company’s 's common stock, at a purchase price equal to the fair market value of the Company’s 's Common Stock on the date of grant (such fair market value to be determined by the closing price on the day prior to the date of grant grant). The option will be subject to the terms and conditions applicable to options granted under the Company’s 's 2009 Stock Option Plan (the “"Plan”"), as described in the Plan and the applicable option agreement Executive will be required to sign. All shares subject to such option will vest over two years from the grant date, the “"Vesting Commencement Date”"). Twenty-five percent (25%) of the shares subject to such option shall vest on the 6-month anniversary of the Vesting Commencement Date and the remaining options shall vest in equal 6-month installments over the two years. The initial stock options will expire three years after the Vesting Commencement Date.