Common use of STOCK GRANT AND OPTION Clause in Contracts

STOCK GRANT AND OPTION. As additional consideration for Executive's performance of his obligations under Article 3 and Article 4 of this Agreement, Company has previously, granted to Executive 185,000 restricted shares of Company's Common Stock, and an option to purchase 97,712 shares of Company's Common Stock, subject to the terms and conditions of Company's 1996 Key Employee Stock Plan and 1997 Long-Term Incentive Plan, and the terms of the specific agreements relating to the grants of restricted stock and stock options. Executive hereby acknowledges and agrees that Company's grant to Executive of such Common Stock and options, together with other compensation payable to Executive hereunder, is reasonable and adequate independent consideration for Executive's performance of his obligations under Articles 3 and 4 of this Agreement.

STOCK GRANT AND OPTION. As additional consideration for Executive's performance of his obligations under Article 3 and Article 4 of this Agreement, Company has previously, granted to Executive 185,000 120,000 restricted shares of Company's Common Stock, and an option to purchase 97,712 71,712 shares of Company's Common Stock, subject to the terms and conditions of Company's 1996 Key Employee Stock Plan and 1997 Long-Term Incentive Plan, and the terms of the specific agreements relating to the grants of restricted stock and stock options. Executive hereby acknowledges and agrees that Company's grant to Executive of such Common Stock and options, together with other compensation payable to Executive hereunder, is reasonable and adequate independent consideration for Executive's performance of his obligations under Articles 3 and 4 of this Agreement.

STOCK GRANT AND OPTION. As additional consideration for Executive's performance of his obligations under Article 3 and Article 4 of this Agreement, Company has previously, granted to Executive 185,000 220,000 restricted shares of Company's Common Stock, and an option to purchase 97,712 shares of Company's Common Stock, subject to the terms and conditions of Company's 1996 Key Employee Stock Plan and 1997 Long-Term Incentive Plan, and the terms of the specific agreements relating to the grants of restricted stock and stock options. Executive hereby acknowledges and agrees that Company's grant to Executive of such Common Stock and options, together with other compensation payable to Executive hereunder, is reasonable and adequate independent consideration for Executive's performance of his obligations under Articles 3 and 4 of this Agreement.