The Board may grant options to purchase Common Stock (each, an “ Option ” ) and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable.  The terms and conditions of each Option shall be set forth in a written option agreement (an “ Option Agreement ” ) to be entered into between the Company and the recipient of each Option.  Options granted under this Plan shall be non-statutory stock options.