New Option Grant. The Company will recommend that the Board of ---------------- Directors grant you an option to purchase 137,500 shares of the Company's Common Stock ("Option Shares") with an exercise price equal to the fair market value on ------------- the date of the grant. These option shares will vest at the rate of 1/12th of the total number of Option Shares on each monthly anniversary of the vesting commencement date, which shall be August 1, 2000. Vesting will, of course, depend on your continued employment with the Company. The option will be an incentive stock option to the maximum extent allowed by the tax code and will be subject to the terms of the Company's 1997 Stock Option Plan and the Stock Option Agreement between you and the Company.
Appears in 2 contracts
Sources: Employment Agreement (Replaytv Inc), Employment Agreement (Replaytv Inc)