Common use of Payment on Exercise of Option Clause in Contracts

Payment on Exercise of Option. Any vested portion of this Option that ----------------------------- has become exercisable may be exercised at the office of the Company in Boston, Massachusetts (or at such other location as determined by the Company) by giving written notice to ZEFER (Attention: Stock Option Plan Administrator) of the exercise of such vested portion of this Option. The Option Price for the Shares that are the subject of the exercise may be paid by delivery of cash, certified check, bank draft or money order. In addition, at any time that the Common Stock is registered under Section 12 of the Securities Exchange Act of 1934, the Option Price may be paid by (i) delivering shares of Company stock (which, if acquired directly from the Company, shall have been held for at least six months, unless the Stock Option Plan Administrator approves a shorter period) with a fair market value equal to the Option Price for the Shares that Optionee is exercising; (ii) delivery of an unconditional undertaking by a broker to deliver the Option Price immediately following a sale of the Shares that are the subject of the exercise; or (iii) any combination of the foregoing permissible forms of payment. In the event that any portion of this Option is exercised by the executor or administrator of Optionee's estate, Optionee's personal representative or distributee, the Company shall be under no obligation to deliver Shares hereunder unless and until the Company is satisfied as to the authority of the person or persons exercising such portion of this Option. The value of any share of Common Stock delivered in payment of the Option Price shall be the closing price of the Common Stock on the principal market in which it is traded on the day before the date of exercise (the "Market Price").

Payment on Exercise of Option. Any vested portion of this Option that ----------------------------- has become exercisable may be exercised at the office of the Company in Boston, Massachusetts (or at such other location as determined by the Company) by giving written notice to ZEFER (Attention: Stock Option Plan Administrator) of the exercise of such vested portion of this Option. The Option Price for the Shares that are the subject of the exercise may be paid by delivery of cash, certified check, bank draft or money order. In addition, at any time that the Common Stock is registered under Section 12 of the Securities Exchange Act of 1934, the Option Price may be paid by (i) delivering shares of Company stock (which, if acquired directly from the Company, shall have been held for at least six months, unless the Stock Option Plan Administrator approves a shorter period) with a fair market value equal to the Option Price for the Shares that Optionee Participant is exercising; (ii) delivery of an unconditional undertaking by a broker to deliver the Option Price immediately following a sale of the Shares that are the subject of the exercise; or (iii) any combination of the foregoing permissible forms of payment. In the event that any portion of this Option is exercised by the executor or administrator of OptioneeParticipant's estate, OptioneeParticipant's personal representative or distributee, the Company shall be under no obligation to deliver Shares hereunder unless and until the Company is satisfied as to the authority of the person or persons exercising such portion of this Option. The value of any share of Common Stock delivered in payment of the Option Price shall be the closing price of the Common Stock on the principal market in which it is traded on the day before the date of exercise (the "Market Price").

Payment on Exercise of Option. Any vested portion of this Option ----------------------------- that ----------------------------- has become exercisable may be exercised at the office of the Company in Boston, Massachusetts (or at such other location as determined by the Company) by giving written notice to ZEFER (Attention: Stock Option Plan Administrator) of the exercise of such vested portion of this Option. The Option Price for the Shares that are the subject of the exercise may be paid by delivery of cash, certified check, bank draft or money order. In addition, at any time that the Common Stock is registered under Section 12 of the Securities Exchange Act of 1934, the Option Price may be paid by (i) delivering shares of Company stock (which, if acquired directly from the Company, shall have been held for at least six months, unless the Stock Option Plan Administrator approves a shorter period) with a fair market value equal to the Option Price for the Shares that Optionee is exercising; (ii) delivery of an unconditional undertaking by a broker to deliver the Option Price immediately following a sale of the Shares that are the subject of the exercise; or (iii) any combination of the foregoing permissible forms of payment. In the event that any portion of this Option is exercised by the executor or administrator of Optionee's estate, Optionee's personal representative or distributee, the Company shall be under no obligation to deliver Shares hereunder unless and until the Company is satisfied as to the authority of the person or persons exercising such portion of this Option. The value of any share of Common Stock delivered in payment of the Option Price shall be the closing price of the Common Stock on the principal market in which it is traded on the day before the date of exercise (the "Market Price").