Common use of Duration and Exercisability Clause in Contracts

Duration and Exercisability. A. This option may not be exercised by Employee until the expiration of one (1) year from the date of grant, and this option shall in all events terminate ten (10) years after the date of grant. During the first year from the date of grant of this option, no portion of this option may be exercised. Thereafter this option shall become exercisable in four cumulative installments of 25% as follows: One Year after Date of Grant 25% Two Years after Date of Grant 50% Three Years after Date of Grant 75% Four Years after Date of Grant 100% In the event that Employee does not purchase in any one year the full number of shares of Common Stock of the Company to which he/she is entitled under this option, he/she may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock in any subsequent year during the term of this option. B. During the lifetime of the Employee, the option shall be exercisable only by him/her and shall not be assignable or transferable by him/her otherwise than by will or the laws of descent and distribution.

Duration and Exercisability. A. a. This option Option may not be exercised by Employee the Nonemployee Director until the expiration of one (1) year from the date of grant, and this option Option shall in all events terminate ten (10) years after the date of grantGrant. During the first year from the date of grant of this optionOption, no portion of this option Option may be exercised. Thereafter this option Option shall become exercisable in four cumulative installments of 25% as follows: One Year after Date of Grant 25% Two Years after Date of Grant 50% Three Years after Date of Grant 75% Four Years after Date of Grant 100% In the event that Employee Nonemployee Director does not purchase in any one year the full number of shares of Common Stock common stock of the Company to which he/she is entitled under this optionOption, he/she may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock common stock in any subsequent year during the term of this optionOption. B. b. During the lifetime of the EmployeeNonemployee Director, the option Option shall be exercisable only by him/her and shall not be assignable or transferable by him/her otherwise than by will or the laws of descent and distribution.

Duration and Exercisability. A. This option may not be exercised by Employee until the expiration of one (1) year from the date of grant, and this option shall in all events terminate ten (10) years after the date of grant. During the first year from the date of grant of this option, no portion of this option may be exercised. Thereafter this option shall become exercisable in four cumulative installments of 25% as follows: One Year after Date of Grant 25% Two Years after Date of Grant 50% Three Years after Date of Grant 75% Four Years after Date of Grant 100% In the event that Employee does not purchase in any one year the full number of shares of Common Stock of the Company to which he/she he is entitled under this option, he/she he may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock in any subsequent year during the term of this option. B. During the lifetime of the Employee, the option shall be exercisable only by him/her and shall not be assignable or transferable by him/her otherwise than by will or the laws of descent and distribution.

Duration and Exercisability. A. This option may not be exercised by Employee until the expiration of one (1three(3) year years from the date of grant, and this option shall in all events terminate ten (10) years after the date of grant. During the first year two (2) years from the date of grant of this option, no portion of this option may be exercised. Thereafter this entire option shall become exercisable in four cumulative installments of 25% as follows: Total Portion of Option Date Which is Exercisable ---- ----------------------- One Year after Date of Grant 250% Two Years after Date of Grant 500% Three Years after Date of Grant 75% Four Years after Date of Grant 100% In the event that Employee does not purchase in any one year the full number of shares of Common Stock of the Company to which he/she is entitled under this option, he/she may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock in any subsequent year during the term of this option. B. During the lifetime of the Employee, the option shall be exercisable only by him/her and shall not be assignable or transferable by him/her otherwise than by will or the laws of descent and distribution.