Common use of OPTION TO PURCHASE STOCK Clause in Contracts

OPTION TO PURCHASE STOCK. Upon execution of the Agreement and this Addendum by both parties, the Executive shall be granted an additional option (the "Option") to purchase 500,000 units (the "Option") of the common units of C‑Bond Systems, LLC ("CBOND"). For all purposes of this Agreement and Addendum, the Grant Date shall be October 12, 2015. The Executive's right to purchase the additional Option units pursuant to this provision shall accrue as described in the vesting period provision set forth at Section below (the "Vesting Period"). The Executive may exercise such Option at any time prior to the tenth anniversary of the date of the Agreement. The Executive's exercise of all Option rights shall be effected in accordance with the terms of C‑Bond Systems operating agreement. Compensation Plan (the "Plan"). Executive's rights with respect to all units that are the subject of this provision shall be governed by the terms of the Plan.

OPTION TO PURCHASE STOCK. Upon execution of the Agreement and this Addendum by both parties, the Executive shall be granted an additional option (the "Option") to purchase 500,000 3,000,000 units (the "Option") of the common units of C‑Bond C-Bond Systems, LLC ("CBOND"). For all purposes of this Agreement and Addendum, the Grant Date shall be October 12August 10, 20152013. The Executive's right to purchase the additional Option units pursuant to this provision shall accrue as described in the vesting period provision set forth at Section below (the "Vesting Period"). The Executive may exercise such Option at any time prior to the tenth anniversary of the date of the Agreement. The Executive's exercise of all Option rights shall be effected in accordance with the terms of C‑Bond C-Bond Systems operating agreement. Compensation Plan (the "Plan"). Executive's rights with respect to all units that are the subject of this provision shall be governed by the terms of the PlanC-Bond Systems operating agreement.