Option

Option. The rights granted to an Employee or Consultant to purchase Common Stock pursuant to the terms and conditions of an Option Agreement.

Option. Means a Nonqualified Stock Option, an Incentive Stock Option, Director Option, or any or all of them.

Option. Means a conditional opportunity granted pursuant to the Plan to purchase shares of the Company's common stock at some point in the future at a price that is fixed on the date of grant. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options.

Option. Shall refer to either or both an Incentive Stock Option or Non- Statutory Stock Option, as the context shall indicate.

Option. Means the right to purchase Shares at a stated price. "Options" may either be "incentive stock options" which meet the requirements of Code section 422, or "nonqualified stock options" which do not meet the requirements of Code section 422.

Option. Means the option issued pursuant to the Securities Purchase Agreement. 1

Option. Shall mean any Incentive Stock Option or Nonstatutory Stock Option granted pursuant to the Plan. An Option shall be granted on the date the Administrator takes the necessary action to approve the grant. However, if the minutes or appropriate resolutions of the Administrator provide that an Option is to be granted as of a date in the future, the date of grant shall be that future date. Each Option shall vest in accordance with the terms of the Plan and the applicable Option Agreement.

Option. Shall mean an Incentive Stock Option, a Nonstatutory Stock Option or both as identified in a written Stock Option Agreement representing such stock option granted pursuant to this Plan.

Option. Means an option to purchase Shares granted under Section 6. Options granted under the Plan are not incentive stock options within the meaning of Section 422 of the Internal Revenue Code.

Option. Means an option to purchase one or more shares of Stock pursuant to the Plan.