Common use of Options to Purchase Common Stock Clause in Contracts

Options to Purchase Common Stock. Simultaneous herewith the Company shall issue to Employee 300,000 common stock purchase options, each entitling Employee to purchase one share of the Company's common stock, $.01 par value per share, at a price of $.50 per share, and expiring on December 31, 2009; each such option to be evidenced by, and subject to the terms and conditions contained in, an Option Agreement in the form annexed hereto as Exhibit A.