Document ID: 11487

Text:
(iii) Future Stock Option Grants. Subject to the approval by the Board, during each calendar year of Executives employment with the Company beginning with 2018, the Company will grant to Executive an option to purchase 500,000 shares of the Companys common stock (such options collectively the Additional Options). The exercise price of each Additional Option will be the Fair Market Value of the common stock on the date each such Additional Option is granted. Each Additional Option will expire on the tenth anniversary of the date of grant of such Additional Option. The Additional Options will vest in three (3) equal annual installments on the first three anniversaries of the date of grant of such Additional Option, provided that Executive remains employed by the Company on each such date. The Additional Options will be subject to the terms of the Plan and related option grant agreements to be entered between Executive and the Company.

Named Entities:
40
42
Shares
68
70
Price
92
93
TerminationDate

Tokenized Text:
(
iii
)
Future
Stock
Option
Grants
.
Subject
to
the
approval
by
the
Board
,
during
each
calendar
year
of
Executives
employment
with
the
Company
beginning
with
2018
,
the
Company
will
grant
to
Executive
an
option
to
purchase
500
,
000
shares
of
the
Companys
common
stock
(
such
options
collectively
the
Additional
Options
)
.
The
exercise
price
of
each
Additional
Option
will
be
the
Fair
Market
Value
of
the
common
stock
on
the
date
each
such
Additional
Option
is
granted
.
Each
Additional
Option
will
expire
on
the
tenth
anniversary
of
the
date
of
grant
of
such
Additional
Option
.
The
Additional
Options
will
vest
in
three
(
3
)
equal
annual
installments
on
the
first
three
anniversaries
of
the
date
of
grant
of
such
Additional
Option
,
provided
that
Executive
remains
employed
by
the
Company
on
each
such
date
.
The
Additional
Options
will
be
subject
to
the
terms
of
the
Plan
and
related
option
grant
agreements
to
be
entered
between
Executive
and
the
Company
.