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Subject to continuing Service (as defined in the Stock Option Agreement) this option becomes exercisable with respect to the Shares Subject to Option only upon e.Digital’s receipt of an aggregate of twenty-five million ($25,000,000) dollars in licensing fees resulting from any Contingency Representation Agreement with a law firm partner (net after all costs, attorneys fees and expenses) prior to the Expiration Date.
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ADDITIONAL TERMS/ACKNOWLEDGMENTS: This grant is a part of a total grant of 750,000 shares by the Board as an inducement to your continued consultancy with the Company with the balance documented in a separate option agreement. The undersigned Optionee acknowledges receipt of, and represents that the Optionee has read, understands, accepts and agrees to the terms of this Grant Notice and the Stock Option Agreement. Optionee hereby accepts the Option subject to all of its terms and conditions and further acknowledges that as of the Date of Grant, this Grant Notice and the Stock Option Agreement set forth the entire understanding between Optionee and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements pertaining to this particular option
