Common use of Confirmation of Grant of Option Clause in Contracts

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April 19, 2001 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19, 2001, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April July 19, 2001 2002 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19July 16, 20012002, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 5,922 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April 1920, 2001 2000 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 1920, 20012000, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 6,418 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April 19June 11, 2001 1996 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19June 11, 20011996, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 3,361 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April 19September 11, 2001 1997 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19September 11, 2001, 1997 as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 4,559 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April 19September 17, 2001 1998 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19September 17, 2001, 1998 as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 11,764 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

Confirmation of Grant of Option. Pursuant to a determination by the Board of Directors of the Company made as of April 19June 5, 2001 1995 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19June 5, 20011995, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 5,639 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.