Acceptance of options for exchange and issuance of new options. Upon the terms and conditions of the offer and as promptly as practicable following the Expiration Date, we will accept for exchange and cancellation all options properly tendered and not validly withdrawn before the Expiration Date. Once the options are cancelled, you will no longer have any rights with respect to those options. Subject to the terms and conditions of this offer, if your options are properly tendered and accepted for exchange, these options will be cancelled as of the date of our acceptance, which we anticipate to be November 19, 2001, and you will be granted New Options on or promptly after (but not more than 20 days after) the first business day that is at least six months and one day after the date we cancel the options accepted for exchange. All newly granted options will be nonstatutory stock options. Thus, subject to the terms and conditions of this offer, if your options are properly tendered by November 19, 2001, the scheduled expiration date of the offer, and accepted for exchange and cancelled on November 19, 2001 you will be granted New Options on or promptly after (but not more than 20 days after) May 20, 2002. If we accept and cancel options properly tendered for exchange after November 19, 2001, or if we extend the date by which we must accept and cancel options properly elected for exchange, the period in which the New Options will be granted will be similarly delayed. Only options with an exercise price of $15.00 per share or higher are Eligible Options. We will send a confirmation of our acceptance of the tender of your Eligible Options and Required Options immediately after the Expiration Date and will notify you if we reject your election to exchange your Eligible Options on or prior to the Expiration Date. Unless you are notified of a rejection, you may assume that, immediately following the Expiration Date, your properly executed and delivered Election Form and your tendered Eligible Options have been accepted. If we accept for exchange any of the options you tender in the offer, you will not be granted any other options, such as annual, bonus or promotion-related options, for which you may be eligible, before the grant date of the New Options, so that you will be granted no new options for any reason until at least six months and one day after any of your tendered options have been cancelled. We will defer the grant to you of these other options in order to avoid incurring compensation expense against our earnings as ...
Acceptance of options for exchange and issuance of new options. Upon the terms and conditions of the Offer and as promptly as practicable following the Expiration Date, we will accept for exchange and cancellation options properly tendered and not validly withdrawn before the Expiration Date. Once the options are cancelled, you will no longer have any rights with respect to those options. Subject to the terms and conditions of this Offer, if your options are properly tendered and accepted for exchange, these options will be cancelled as of the date of our acceptance, which we anticipate to be July 2,
