Common use of Forfeiture of Option Clause in Contracts

Forfeiture of Option. The Optionee shall forfeit all unexercised Options if the Optionee competes with the business of the Company or any subsidiary of the Company, engages in any activity adverse to the best interests of the Company or any subsidiary of the Company or uses any of the trade secrets or confidential information of the Company or any subsidiary of the Company. The non-competition restriction contained in this Paragraph 5 may be waived by the Company in writing as to delineated services rendered by the Optionee to certain specified individuals and/or entities.

Forfeiture of Option. The Optionee shall forfeit all unexercised -------------------- Options if the Optionee he competes with the business of the Company or any subsidiary of the Company, engages in any activity adverse to the best interests of the Company or any subsidiary of the Company or uses any of the trade secrets or confidential information of the Company or any subsidiary of the Company. The non-competition restriction contained in this Paragraph 5 9 may be waived by the Company in writing as to delineated services rendered by the Optionee to certain specified individuals and/or entities.

Forfeiture of Option. The Optionee shall forfeit all -------------------- unexercised Options if the Optionee he competes with the business of the Company or any subsidiary of the Company, engages in any activity adverse to the best interests of the Company or any subsidiary of the Company or uses any of the trade secrets or confidential information of the Company or any subsidiary of the Company. The non-competition restriction contained in this Paragraph 5 9 may be waived by the Company in writing as to delineated services rendered by the Optionee to certain specified individuals and/or entities.