Document:

Exhibit 10.5

OPTIUM CORPORATION

Employee
Notice of Grant of Non-Qualified Stock Option

Mark
Colyar  (the “Optionee”)
has been granted an option (the “Option”) to
purchase certain shares of Optium Corporation  common
stock (the “Stock”) pursuant to the Optium
Corporation 2006 Stock Option and Incentive Plan, as amended (the “Plan”), as follows:

	
  Grant Date:

  	
  March 3, 2007

  
	
   

  	
   

  
	
  Number
  of Option Shares:

  	
  31,500

  
	
   

  	
   

  
	
  Option
  Exercise Price per Share:

  	
  $20.85

  
	
   

  	
   

  
	
  Expiration
  Date:

  	
  February 28, 2017

  
	
   

  	
   

  
	
  Tax
  Status of Option:

  	
  Non-Qualified

  

 

Vested Shares:  Except as provided in Stock Option Agreement,
and provided that the Optionee’s employment by the Company or any of its
subsidiaries has not terminated prior to any applicable vesting date, the
shares will vest 25% on March 1, 2008 and 2.08% monthly thereafter with the
final vesting occurring on March 1, 2011. 
Fractional shares are not exercisable until fractional shares equal a
whole share. In addition, there shall be acceleration of vesting of 25% of
original grant (or 100% of remaining unvested portion is less) following
termination without Cause or Constructive Termination (each term as defined in
Optionee’s Employment Agreement with the Company) within one year of an Acquisition
(as defined in the Plan).

By their signatures
below, the Company and the Optionee agree that the Option is governed by this
Notice and by the provisions of the Plan and the Non-Qualified Stock Option
Option Agreement, both of which are attached to and made a part of this
document.  The Optionee acknowledges
receipt of a copy of the Plan and the Option Agreement, represents that the
Optionee has read and is familiar with their provisions, and hereby accepts the
Option subject to all of their terms and conditions.  In the event that there is a conflict between
the Option Agreement and this Notice, the terms of Option Agreement shall
govern.  This Notice may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which shall constitute one and the same document.

	
  OPTIUM CORPORATION

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Eitan Gertel

  	
   

  	
  By:

  	
  /s/ Mark Colyar

  
	
   

  	
  Name:

  	
  Eitan Gertel

  	
   

  	
   

  	
  Mark Colyar

  	
   

  
	
   

  	
  Title:

  	
  CEO, President & Chairman

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  200 Precision Road

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Horsham, PA 19044

  	
   

  	
   

  	
   

  	
   

  

 

ATTACHMENTS:                                             Optium
Corporation 2006 Stock Option and Incentive Plan, as amended through the Grant
Date, the Option Agreement, Plan Information Statement and IPO Final ProspectusExhibit 10.6

OPTIUM CORPORATION

Employee
Notice of Grant of Non-Qualified Stock Option

Christopher
Brown  (the “Optionee”)
has been granted an option (the “Option”) to
purchase certain shares of Optium Corporation  common
stock (the “Stock”) pursuant to the
Optium Corporation 2006 Stock Option and Incentive Plan, as amended (the “Plan”), as follows:

	
  Grant Date:

  	
  March 3, 2007

  
	
   

  	
   

  
	
  Number of Option Shares:

  	
  13,000

  
	
   

  	
   

  
	
  Option Exercise Price per Share:

  	
  $20.85

  
	
   

  	
   

  
	
  Expiration Date:

  	
  February 28, 2017

  
	
   

  	
   

  
	
  Tax Status of Option:

  	
  Non-Qualified

  

 

Vested Shares:  Except as provided in Stock Option Agreement,
and provided that the Optionee’s employment by the Company or any of its
subsidiaries has not terminated prior to any applicable vesting date, the
shares will vest 25% on March 1, 2008 and 2.08% monthly thereafter with the
final vesting occurring on March 1, 2011. 
Fractional shares are not exercisable until fractional shares equal a
whole share. In addition, there shall be acceleration of vesting of 25% of
original grant (or 100% of remaining unvested portion is less) following
termination without Cause or Constructive Termination (each term as defined in
Optionee’s Employment Agreement with the Company) within one year of an Acquisition
(as defined in the Plan).

By their signatures
below, the Company and the Optionee agree that the Option is governed by this
Notice and by the provisions of the Plan and the Non-Qualified Stock Option
Option Agreement, both of which are attached to and made a part of this
document.  The Optionee acknowledges
receipt of a copy of the Plan and the Option Agreement, represents that the
Optionee has read and is familiar with their provisions, and hereby accepts the
Option subject to all of their terms and conditions.  In the event that there is a conflict between
the Option Agreement and this Notice, the terms of Option Agreement shall
govern.  This Notice may be executed in two
or more counterparts, each of which shall be deemed an original, but all of
which shall constitute one and the same document.

	
  OPTIUM CORPORATION

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Eitan Gertel

  	
   

  	
  By:

  	
  /s/ Christopher Brown

  
	
   

  	
  Name:

  	
  Eitan Gertel

  	
   

  	
   

  	
  Christopher Brown

  	
   

  
	
   

  	
  Title:

  	
  CEO, President & Chairman

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  200 Precision Road

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Horsham, PA 19044

  	
   

  	
   

  	
   

  	
   

  
									

 

ATTACHMENTS:                                             Optium
Corporation 2006 Stock Option and Incentive Plan, as amended through the Grant
Date, the Option Agreement, Plan Information Statement and IPO Final ProspectusExhibit 10.7

OPTIUM CORPORATION

Employee
Notice of Grant of Non-Qualified Stock Option

Anthony
Musto  (the “Optionee”)
has been granted an option (the “Option”) to
purchase certain shares of Optium Corporation  common
stock (the “Stock”) pursuant to the
Optium Corporation 2006 Stock Option and Incentive Plan, as amended (the “Plan”), as follows:

	
  Grant Date:

  	
  March 3, 2007

  
	
   

  	
   

  
	
  Number
  of Option Shares:

  	
  24,000

  
	
   

  	
   

  
	
  Option
  Exercise Price per Share:

  	
  $20.85

  
	
   

  	
   

  
	
  Expiration
  Date:

  	
  February 28, 2017

  
	
   

  	
   

  
	
  Tax
  Status of Option:

  	
  Non-Qualified

  

 

Vested Shares:  Except as provided in Stock Option Agreement,
and provided that the Optionee’s employment by the Company or any of its
subsidiaries has not terminated prior to any applicable vesting date, the
shares will vest 25% on March 1, 2008 and 2.08% monthly thereafter with the
final vesting occurring on March 1, 2011. 
Fractional shares are not exercisable until fractional shares equal a
whole share. In addition, there shall be acceleration of vesting of 25% of
original grant (or 100% of remaining unvested portion is less) following
termination without Cause or Constructive Termination (each term as defined in
Optionee’s Employment Agreement with the Company) within one year of an Acquisition
(as defined in the Plan).

By their signatures
below, the Company and the Optionee agree that the Option is governed by this
Notice and by the provisions of the Plan and the Non-Qualified Stock Option
Option Agreement, both of which are attached to and made a part of this
document.  The Optionee acknowledges
receipt of a copy of the Plan and the Option Agreement, represents that the
Optionee has read and is familiar with their provisions, and hereby accepts the
Option subject to all of their terms and conditions.  In the event that there is a conflict between
the Option Agreement and this Notice, the terms of Option Agreement shall
govern.  This Notice may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which shall constitute one and the same document.

	
  OPTIUM CORPORATION

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Eitan Gertel

  	
   

  	
  By:

  	
  /s/ Anthony Musto

  
	
   

  	
  Name:

  	
  Eitan Gertel

  	
   

  	
   

  	
  Anthony Musto

  	
   

  
	
   

  	
  Title:

  	
  CEO, President & Chairman

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  200 Precision Road

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Horsham, PA 19044

  	
   

  	
   

  	
   

  	
   

  

 

ATTACHMENTS:                                             Optium
Corporation 2006 Stock Option and Incentive Plan, as amended through the Grant
Date, the Option Agreement, Plan Information Statement and IPO Final ProspectusExhibit 10.8

OPTIUM CORPORATION

Employee
Notice of Grant of Non-Qualified Stock Option

David
Renner  (the “Optionee”)
has been granted an option (the “Option”) to
purchase certain shares of Optium Corporation  common
stock (the “Stock”) pursuant to the Optium
Corporation 2006 Stock Option and Incentive Plan, as amended (the “Plan”), as follows:

	
  Grant Date:

  	
   

  	
  March 3, 2007

  
	
   

  	
   

  	
   

  
	
  Number of Option Shares:

  	
   

  	
  21,000

  
	
   

  	
   

  	
   

  
	
  Option Exercise Price per Share:

  	
   

  	
  $20.85

  
	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
  February 28, 2017

  
	
   

  	
   

  	
   

  
	
  Tax Status of Option:

  	
   

  	
  Non-Qualified

  

 

Vested Shares:  Except as provided in Stock Option Agreement,
and provided that the Optionee’s employment by the Company or any of its
subsidiaries has not terminated prior to any applicable vesting date, the
shares will vest 25% on March 1, 2008 and 2.08% monthly thereafter with the
final vesting occurring on March 1, 2011. 
Fractional shares are not exercisable until fractional shares equal a
whole share. In addition, there shall be acceleration of vesting of 25% of
original grant (or 100% of remaining unvested portion is less) following
termination without Cause or Constructive Termination (each term as defined in
Optionee’s Employment Agreement with the Company) within one year of an
Acquisition (as defined in the Plan).

By their signatures
below, the Company and the Optionee agree that the Option is governed by this
Notice and by the provisions of the Plan and the Non-Qualified Stock Option
Option Agreement, both of which are attached to and made a part of this
document.  The Optionee acknowledges
receipt of a copy of the Plan and the Option Agreement, represents that the
Optionee has read and is familiar with their provisions, and hereby accepts the
Option subject to all of their terms and conditions.  In the event that there is a conflict between
the Option Agreement and this Notice, the terms of Option Agreement shall
govern.  This Notice may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which shall constitute one and the same document.

	
  OPTIUM CORPORATION

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Eitan Gertel

  	
   

  	
  By:

  	
  /s/ David Renner

  
	
   

  	
  Name:

  	
  Eitan Gertel

  	
   

  	
   

  	
  David Renner

  	
   

  
	
   

  	
  Title:

  	
  CEO, President & Chairman

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  200 Precision Road

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Horsham, PA 19044

  	
   

  	
   

  	
   

  	
   

  

 

ATTACHMENTS:                                             Optium
Corporation 2006 Stock Option and Incentive Plan, as amended through the Grant
Date, the Option Agreement, Plan Information Statement and IPO Final Prospectus

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