Common use of Prohibited Terms Related to the Option Clause in Contracts

Prohibited Terms Related to the Option. In a Rookie Contract, there may be no option bonuses, option exercise fees, nonexercise fees, option buyout amounts or any other form of payment that vests as a result of the Club either (i) exer- cising the Fifth-Year Option, or (ii) declining to exercise the Fifth Year Option. For example, no amount contracted for or paid to the player for years one through four of his Rookie Contract may be contingent upon the exercise or nonexercise of the Fifth- Year Option. The Club may not waive its unilateral right to exercise or not to exercise the Fifth Year Option.

Prohibited Terms Related to the Option. In a Rookie Contract, there may be no option bonuses, option exercise fees, nonexercise fees, option buyout amounts or any other form of payment that vests as a result of the Club either (i) exer- cising exercising the Fifth-Year Option, or (ii) declining to exercise the Fifth Year Option. For example, no amount contracted for or paid to the player for years one through four of his Rookie Contract may be contingent upon the exercise or nonexercise of the Fifth- Fifth-Year Option. The Club may not waive its unilateral right to exercise or not to exercise the Fifth Year Option.