Common use of Grant of the Option; Option Price Clause in Contracts

Grant of the Option; Option Price. Corporation hereby grants to Optionee, as a matter of separate inducement and agreement in connection with Optionee being a non-employee director of the Corporation (and not in lieu of any salary or other compensation for Optionee's services) the right and option to purchase (the "Option") all or any part of an aggregate of 5,000 shares of Common Stock ("Option Shares") on the terms and conditions set forth herein, subject to adjustment as provided in Section 7, at a purchase price of $17.25 per share ("Option Price"). Corporation and Optionee consider the Option Price to be not less than the Fair Market Value (as determined by the closing price) of the Common Stock on the date hereof, which is the date on which the Option was granted to Optionee ("Option Date").

Grant of the Option; Option Price. Corporation hereby grants to Optionee, as a matter of separate inducement and agreement in connection with Optionee being a non-employee director of the Corporation (and not in lieu of any salary or other compensation for Optionee's services) the right and option to purchase (the "Option") all or any part of an aggregate of 5,000 shares of Common Stock ("Option Shares") on the terms and conditions set forth herein, subject to adjustment as provided in Section 7, at a purchase price of $17.25 10.8125 per share ("Option Price"). Corporation and Optionee consider the Option Price to be not less than the Fair Market Value (as determined by the closing price) of the Common Stock on the date hereof, which is the date on which the Option was granted to Optionee ("Option Date").

Grant of the Option; Option Price. Corporation hereby grants to Optionee, as a matter of separate inducement and agreement in connection with Optionee being a non-employee director of the Corporation (and not in lieu of any salary or other compensation for Optionee's services) the right and option to purchase (the "Option") all or any part of an aggregate of 5,000 10,000 shares of Common Stock ("Option Shares") on the terms and conditions set forth herein, subject to adjustment as provided in Section 7, at a purchase price of $17.25 10.8125 per share ("Option Price"). Corporation and Optionee consider the Option Price to be not less than the Fair Market Value (as determined by the closing price) of the Common Stock on the date hereof, which is the date on which the Option was granted to Optionee ("Option Date").