Common use of Performance Options Clause in Contracts

Performance Options. As of January 7, 2002, the Company shall grant the Executive a 10-year option to purchase an aggregate of 525,000 shares of Stock (the "Performance Option"), which may be granted under the terms of the Company's stock option plans, or outside the terms of such plans, with terms and conditions consistent in all respects with the provisions of this Agreement and otherwise substantially the same as those granted under the Company's stock option plans. The Performance Option shall be divided into three tranches, with each tranche consisting of 1/3 of the Performance Option shares and each tranche being subject to the performance requirements described below:

Performance Options. As of January 7December 3, 20022001, the Company shall grant the Executive a 10-year option to purchase an aggregate of 525,000 shares of Stock (the "Performance Option"), which may be granted under the terms of the Company's stock option plans, or outside the terms of such plans, with terms and conditions consistent in all respects with the provisions of this Agreement and otherwise substantially the same as those granted under the Company's stock option plans. The Performance Option shall be divided into three tranches, with each tranche consisting of 1/3 of the Performance Option shares and each tranche being subject to the performance requirements described below: