Common use of New Option Grant Clause in Contracts

New Option Grant. Executive has been granted an option (the "New Option") under the Parent Option Plan (as defined in the Merger Agreement) to purchase shares of the Company's common stock, par value $.01 per share, on the terms and conditions specified in the Stock Option Agreement (the "Option Agreement") attached hereto as Exhibit A ("Exhibit A").

New Option Grant. Executive has been granted an option (the ---------------- "New Option") under the Parent Option Plan (as defined in the Merger Agreement) ---------- to purchase shares of the Company's common stock, par value $.01 per share, on the terms and conditions specified in the Stock Option Agreement (the "Option ------ Agreement") attached hereto as Exhibit A ("Exhibit A").. --------- ---------