Common use of Performance Equity Clause in Contracts

Performance Equity. Subject to approval by the Board, Executive shall be granted an option to purchase 200,000 shares of common stock of the Company (the “Performance Option”) with an exercise price equal to the fair market value of the common stock as of the date of grant. The Performance Option shall be subject to and governed in all respects by the terms of the governing equity plan documents and grant agreement(s) between Executive and the Company thereunder and shall be subject to a vesting schedule based upon the achievement of certain performance-based objectives of the Company as determined by the Board, subject to Executive’s continuous service through each such event.

Performance Equity. Subject to approval by the Board, Executive shall be granted an option to purchase 200,000 1,000,000 shares of common stock of the Company (the “Performance Option”) with an exercise price equal to the fair market value of the common stock as of the date of grant. The Performance Option shall be subject to and governed in all respects by the terms of the governing equity plan documents and grant agreement(s) between Executive and the Company thereunder thereunder, and shall be subject to a vesting schedule based upon the achievement of certain performance-based objectives of the Company as determined by the Board, subject to Executive’s continuous service through each such event.