Common use of Grant of Purchase Rights Clause in Contracts

Grant of Purchase Rights. ECA hereby grants to Employee the right and privilege to purchase up to 2,500 shares of its Class A common stock (the "stock") at $75.00 per share (the "Purchase Rights"). Employee may elect to purchase the stock by providing notice to ECA as provided in paragraph 2 below no later than December 31, 1998. In order to be entitled to exercise the Purchase Rights granted hereunder, Employee must remain in good standing in the continuous employ of ECA through December 31, 1998. If Employee's employment with ECA is terminated for any reason during this period, all unexercised Purchase Rights shall become null and void.

Grant of Purchase Rights. ECA hereby grants to Employee the right and privilege to purchase up to 2,500 1,667 shares of its Class A common stock (the "stock") at $75.00 per share (the "Purchase Rights"). Employee may elect to purchase the stock by providing notice to ECA as provided in paragraph 2 below no later than December 31, 1998. In order to be entitled to exercise the Purchase Rights granted hereunder, Employee must remain in good standing in the continuous employ of ECA through December 31, 1998. If Employee's employment with ECA is terminated for any reason during this period, all unexercised Purchase Rights shall become null and void.