Common use of Grant and Terms of Option Clause in Contracts

Grant and Terms of Option. Pursuant to action of the Committee, which action was taken on ("Date of Grant"), the Company grants to Optionee the option to purchase all or any part of ( ) shares of the Common Stock of the Company, of the par value of $0.01 per share ("Common Stock"), for a period of ten (10) years from the Date of Grant, at the purchase price of $ per share; provided, however, that the right to exercise such option shall be, and is hereby, restricted so that no shares may be purchased during the first year of the term hereof; that at any time during the term of this option after the end of the first year from the Date of Grant, Optionee may purchase up to 33-1/3% of the total number of shares to which this option relates; that at any time during the term of this option after the end of the second year from the Date of Grant, Optionee may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; and that at any time after the end of the third year from the Date of Grant, Optionee may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; so that upon the expiration of the third year from the Date of Grant and thereafter during the term hereof, Optionee will have become entitled to purchase the entire number of shares

Grant and Terms of Option. Pursuant to action of the Committee, which action was taken on __________________ ("Date of Grant"), the Grant"),the Company grants to Optionee the option to purchase all or any part of ( __________________________ (________) shares of the Common Stock of the Company, of the par value of $0.01 per share ("Common Stock"), for a period of ten (10) years from the Date of Grant, at the purchase price of $ $___________ per share; provided, however, that the right to exercise such option shall be, and is hereby, restricted so that no shares may be purchased during the first year of the term hereof; that at any time during the term of this option after the end of the first year from the Date of Grant, Optionee may purchase up to 33-1/3% of the total number of shares to which this option relates; that at any time during the term of this option after the end of the second year from the Date of Grant, Optionee may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; and that at any time after the end of the third year from the Date of Grant, Optionee may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; so that upon the expiration of the third year from the Date of Grant and thereafter during the term hereof, Optionee will have become entitled to purchase the entire number of sharesnumber

Grant and Terms of Option. Pursuant to action of the Committee, which action was taken on ("Date of Grant"), the Company grants to Optionee the option to purchase all or any part of ( ) shares of the Common Stock of the Company, of the par value of $0.01 per share ("Common Stock"), for a period of ten (10) years from the Date of Grant, at the purchase price of $ per share; provided, however, that the right to exercise such option shall be, and is hereby, restricted so that no shares may be purchased during the first year of the term hereof; that at any time during the term of this option after the end of the first year from the Date of Grant, Optionee may purchase up to 33-1/3% of the total number of shares to which this option relates; that at any time during the term of this option after the end of the second year from the Date of Grant, Optionee may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; and that at any time after the end of the third year from the Date of Grant, Optionee may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; so that upon the expiration of the third year from the Date of Grant and thereafter during the term hereof, Optionee will have become entitled to purchase the entire number of sharesnumber

Grant and Terms of Option. Pursuant to action the terms of the Committee, which action was taken on ("Date of Grant"), Plan the Company hereby grants to Optionee the option to purchase all or any part of ( one thousand five hundred (1500) shares of the Common Stock of the Company, of the par value of $0.01 .01 per share ("Common Stock"), for a period of ten six (106) years from the Date of Grantdate hereof, at the purchase price of $ $___ per share; provided, however, that the right to exercise such option shall be, and is hereby, restricted so that no shares may be purchased during the first year of the term hereof; that at any time during the term of this option after the end of the first year from of the Date of Grant, term hereof Optionee may purchase up to 33-1/3100% of the total number of shares to which this option relates; . Provided, that at any time during if there is a Change in Control as defined in the term of this option after the end of the second year from the Date of GrantPlan, Optionee may immediately purchase up 100% of the total number of shares to an additional 33-1/3which immediately purchase 100% of the total number of shares to which this option relates; and that at any time after the end of the third year from the Date of Grant, Optionee . In no event may purchase up to an additional 33-1/3% of the total number of shares to which this option relates; so that upon or any part thereof be exercised after the expiration of six (6) years from 2 the third year from date hereof. The purchase price of the Date shares subject to the option may be paid for (i) in cash, (ii) by tender of Grant shares of Common Stock already owned by Optionee, or (iii) by a combination of methods of payment specified in clauses (i) and thereafter during (ii), all in accordance with Section V.F of the term hereof, Optionee will have become entitled to purchase the entire number of sharesPlan.