Common use of New Stock Option Clause in Contracts

New Stock Option. Employee shall be granted an option to purchase Thirty Thousand (30,000) shares of the Company's common stock (the "Option") pursuant to the terms of the Company's 2001 Equity Incentive Plan and the Stock Option Agreement, copies of which are attached as Exhibits 5.4(a) and 5.4(b), respectively. The price of the Option shall be the closing pricing of the Company's common stock as listed on the Nasdaq National Stock Market System on the Effective Date. The Option will vest at the rate of twenty-five percent (25%) each year for four (4) years and will be governed by the terms of the Stock Option Agreement. The Option will be intended to qualify as an Incentive Stock Option to the maximum extent allowable under Section 422 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder (the "Code""). The designation of an Option as an Incentive Stock Option is not a warranty or representation that it will be treated as an incentive stock option under Section 422 of the Code.

New Stock Option. Employee shall be granted an option to purchase Thirty Thousand five thousand (30,0005,000) shares of the Company's common stock (the "Option") pursuant to the terms of the Company's 2001 Equity Incentive Plan and the Stock Option Agreement, copies of which are attached as Exhibits 5.4(a) and 5.4(b), respectively. The price of the Option shall be the closing pricing of the Company's common stock as listed on the Nasdaq National Stock Market System on the Effective Date. The Option will vest at the rate of twenty-five percent (25%) each year for four (4) years and will be governed by the terms of the Stock Option Agreement. The Option will be intended to qualify as an Incentive Stock Option to the maximum extent allowable under Section 422 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder (the "Code""). The designation of an Option as an Incentive Stock Option is not a warranty or representation that it will be treated as an incentive stock option under Section 422 of the Code.