Common use of STOCK PURCHASE AND STOCK OPTIONS Clause in Contracts

STOCK PURCHASE AND STOCK OPTIONS. The Company and Executive have previously executed: (a) a Stock Purchase Agreement providing for the purchase by Executive of shares of Class B common stock of the Company and a loan from the Company for that purpose on the terms and conditions specified therein; and (b) a Stock Option Award Agreement providing for the grant to Executive of options to acquire shares of Class B common stock of the Company on the terms and conditions specified therein. Executive expressly acknowledges that these are multi-year stock purchase and stock option arrangements, not to be reproduced on an annual basis. Those Agreements are incorporated by reference and made a part hereof.

STOCK PURCHASE AND STOCK OPTIONS. The Company and Executive have previously executed: (a) a Stock Purchase Agreement providing for the purchase by Executive of shares of Class B common stock of the Company and a loan from the Company for that purpose on the terms and conditions specified therein; and (b) a several Stock Option Award Agreement Agreements providing for the grant to Executive of options to acquire shares of Class B common stock of the Company on the terms and conditions specified therein. Executive expressly acknowledges that these are multi-year stock purchase and stock option arrangements, not to be reproduced on an annual basis. Those Agreements are incorporated by reference and made a part hereof.