Common use of Option Grants Clause in Contracts

Option Grants. In consideration of Executive entering into this Agreement, the Company has granted to Executive as of June 12, 1996 options to purchase 50,000 shares of the Company's common stock at a price of $20.00 per share*(1). The option grant shall be governed by a separate option agreement which shall provide that such options will vest and become exercisable on the fifth anniversary of grant or, if earlier, following a Change of Control, upon the termination of Executive other than for Good Cause or by Executive for Good Reason.

Option Grants. (a) In consideration of Executive entering into this Agreement, the Company has granted to Executive as of June 12, 1996 options to purchase 50,000 100,000 shares of the Company's common stock at a price of $20.00 per share*(1share(1)*. The option grant shall be governed by a separate option agreement which shall provide that such options will vest and become exercisable on the fifth anniversary of grant or, if earlier, earlier following a Change of in Control, upon the termination of Executive other than for Good Cause or by Executive for Good Reason.

Option Grants. In consideration of Executive entering into this Agreement, the Company has granted to Executive as of June 12, 1996 options to purchase 50,000 20,000 shares of the Company's common stock at a price of $20.00 per share*(1). The option grant shall be governed by a separate option agreement which shall provide that such options will vest and become exercisable on the fifth anniversary of grant or, if earlier, following a Change of Control, upon the termination of Executive other than for Good Cause or by Executive for Good Reason.

Option Grants. In consideration of Executive entering into this Pursuant to the Prior Agreement, the Company has granted to the Executive as of June 12, 1996 options to purchase 50,000 five hundred thousand (500,000) shares of Common Stock, exercisable at $9.00 per share in three equal increments on January 1, 2000, January 1, 2001, and January 1, 2002. Nothing in this Agreement shall in any way diminish the CompanyExecutive's common stock at a price of $20.00 per share*(1). The rights under any option agreement between the Company and the Executive effecting that or any other option grant shall be governed by a separate option agreement which shall provide that such options will vest and become exercisable on previously made to the fifth anniversary of grant or, if earlier, following a Change of Control, upon the termination of Executive other than for Good Cause or by Executive for Good ReasonExecutive.