Common use of Initial Stock Option Clause in Contracts

Initial Stock Option. Executive acknowledges he was granted an option to purchase up to 250,000 shares of Common Stock of the Company (the “Initial Stock Option”). The Initial Stock Option has an exercise price equal to the Fair Market Value of the Company’s Common Stock as defined in the Micromet, Inc. 2003 Equity Incentive Award Plan (the “Plan”). The Initial Stock Option has been granted as an incentive stock option to the maximum extent permitted by law, and otherwise as a non-qualified stock option. The Initial Stock Option is subject to the Plan and the Company’s standard form of stock option agreement, which Executive has executed as a condition to this grant. The Initial Stock Option will vest over a four-year period, with 25% of the shares subject to the Initial Stock Option vesting after 12 months of the date of the Original Employment Agreement, and 1/48 of the shares subject to the options vesting on a monthly basis thereafter.

Initial Stock Option. Executive acknowledges he was granted an option to purchase up to 250,000 300,000 shares of Common Stock of the Company (the “Initial Stock Option”). The Initial Stock Option has an exercise price equal to the Fair Market Value of the Company’s Common Stock as defined in the Micromet, Inc. 2003 Equity Incentive Award Plan (the “Plan”). The Initial Stock Option has been granted as an incentive stock option to the maximum extent permitted by law, and otherwise as a non-qualified stock option. The Initial Stock Option is subject to the Plan and the Company’s standard form of stock option agreement, which Executive has executed as a condition to this grant. The Initial Stock Option will vest over a four-year period, with 25% of the shares subject to the Initial Stock Option vesting after 12 months of the date of the Original Employment Agreement, and 1/48 of the shares subject to the options vesting on a monthly basis thereafter.