The vesting period of the options is determined by the Board of Directors and is generally five years. Outstanding options expire after ten years. The exercise price of options granted under the plan may not be less than the market price on the date of grant. In May 1996, an amendment was approved to increase the number of shares available for issuance from 950,000 options to 2,450,000 options. The vesting period of the options is determined by the Board of Directors and is generally five years.
Outstanding options expire after ten years.
The Company provides for income taxes using the liability method. The Company recognized a valuation allowance to the full extent of its deferred tax assets since the likelihood of realization of the benefit cannot be determined. Anatomical illustrations from Leonardo Da Vinci s sketchbooks.