Common use of Optionee Election Clause in Contracts

Optionee Election. The Optionee’s First Federal Options (other than any First Federal Options issued to the Optionee after April 1, 2004 which will only be converted into the right to receive cash) shall be converted into Associated Options or into the right to receive cash as follows: (Please xxxx one box and, if Box C is elected, complete the necessary information): [ ] A. All of Optionee’s First Federal Options will be converted to the right to receive cash pursuant to the methodology described in Section 3 of this Agreement. [ ] B. All of the Optionee’s First Federal Options will be converted to Associated Options pursuant to the methodology described in Section 2 of this Agreement. [ ] C. A part of the Optionee’s options will be converted into Associated Options and a part will be converted into the right to receive cash as follows:

Optionee Election. The Optionee’s First Federal Options (other than any First Federal Options issued to the Optionee after April 1, 2004 which will only be converted into the right to receive cash) shall be converted into Associated Options or into the right to receive cash as follows: (Please xxxx mxxx one box and, if Box C is elected, complete the necessary information): [ ] A. All of Optionee’s First Federal Options will be converted to the right to receive cash pursuant to the methodology described in Section 3 of this Agreement. [ ] B. All of the Optionee’s First Federal Options will be converted to Associated Options pursuant to the methodology described in Section 2 of this Agreement. [ ] C. A part of the Optionee’s options will be converted into Associated Options and a part will be converted into the right to receive cash as follows: