Common use of ELIGIBILITY AND GRANTS Clause in Contracts

ELIGIBILITY AND GRANTS. Any employee (including officers and directors who are employees) of the Company or of any Affiliate who, in the judgment of the Committee, has contributed or can be expected to contribute to the profits or growth of the Company or an Affiliate and who is not a member of the Committee may be granted one or more Options. The Committee will designate individuals to whom Options are to be granted and will specify the number of shares of Common Stock subject to each grant. All Options granted under the Plan shall be evidenced by Agreements that shall be subject to applicable provisions of the Plan and to such other provisions as the Committee may adopt. No Eligible Participant may be granted Incentive Stock Options (under all incentive stock option plans of the Company and Affiliates) which are first exercisable in any calendar year for stock having an aggregate fair market value (determined as of the date an Option is granted) exceeding $100,000.