Common use of Grant of Option and Exercise Price Clause in Contracts

Grant of Option and Exercise Price. Subject to the terms and conditions stated in this Agreement, on December 15, 1998 (the "Date of Grant"), the Committee granted to Director an option (the "Option") to purchase 15,000 shares of the Company's Common Stock (the "Shares") at an exercise price of $5.813 per Share (the "Exercise Price").

Grant of Option and Exercise Price. Subject to the terms and conditions stated in this Agreement, on December 15May 23, 1998 2000 (the "Date of Grant"), the Committee granted to Director an option (the "Option") to purchase 15,000 shares of the Company's Common Stock (the "Shares") at an exercise price of $5.813 3.75 per Share (the "Exercise Price").