Common use of Term and Exercise of Option Clause in Contracts

Term and Exercise of Option. (a) The term of this option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. (b) Except as otherwise provided herein, this option will be exercisable in cumulative installments as follows: (i) None of the Option Shares may be purchased prior to one year from the Grant Date; (ii) Up to 25% of the Option Shares may be purchased at any time after one year from the Grant Date and prior to termination of this option; (iii) Up to 50% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after two years from the Grant Date and prior to termination of this option; (iv) Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after three years from the Grant Date and prior to termination of this option; and (v) Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after four years from the Grant Date and prior to termination of this option. (c) To exercise this option, the Optionee shall give written notice to the Company, to the attention of its President or other designated agent, in form satisfactory to the Company and shall deliver payment in full for the Option Shares with respect to which this option is then being exercised, as provided in paragraph 4(b) below. (d) Neither the Optionee nor the Optionee's heirs or legal representatives, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such shares are issued to the Optionee or the Optionee's heirs or legal representatives under the terms of the Option Plan.

Term and Exercise of Option. (a) The term of this option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. (b) Except as otherwise provided herein, this option will be exercisable in cumulative installments as follows: (i) None Up to 50% of the Option Shares may be purchased prior to one year from the Grant Date; (ii) Up to 25% of the Option Shares may be purchased at any time after one year from the Grant Date and prior to termination of this option; (iii) Up to 50% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after two years from the Grant Date and prior to termination of this option; (iv) Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after three years from the Grant Date and prior to termination of this option; and (v) Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after four years one year from the Grant Date and prior to termination of this option.; (c) To exercise this option, the Optionee shall give written notice to the Company, to the attention of its President or other designated agent, in form satisfactory to the Company and shall deliver payment in full for the Option Shares with respect to which this option is then being exercised, as provided in paragraph 4(b) below. (d) Neither the Optionee nor the Optionee's heirs or legal representatives, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such shares are issued to the Optionee or the Optionee's heirs or legal representatives under the terms of the Option Plan.

Term and Exercise of Option. (a) The term of this option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. (b) . Except as otherwise provided herein, this option will be exercisable in cumulative installments as follows: (i) None of the Option Shares may be purchased prior to one year from the Grant Date; (iia) Up to 25% ________ of the Option Shares may be purchased at any time after one year from the Grant Date and prior to termination of this option; (iiib) Up to 50% ________ of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time on or after two years from the Grant Date and prior to termination of this option; (iv) Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after three years from the Grant Date ________________, and prior to termination of this option; and (vc) Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time on or after four years from the Grant Date _________________, and prior to termination of this option. (c) To exercise this option, the Optionee shall give written notice to the Company, to the attention of its President or other designated agent, in form satisfactory to the Company and shall deliver payment in full for the Option Shares with respect to which this option is then being exercised, as provided in paragraph 4(b) below. (d) . Neither the Optionee nor the Optionee's heirs or ’s legal representatives, legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such shares are issued to the Optionee or the Optionee's heirs ’s legal representatives, legatees or legal representatives distributees, under the terms of the Option Plan.

Term and Exercise of Option. (a) The term of this option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. (b) Except Unless the Compensation Committee of the Board of Directors of the Company shall decide otherwise, and except as otherwise provided herein, this option will be exercisable in cumulative installments as follows: (i) None of the Option Shares may be purchased prior to one year from the Grant DateDecember 28, 2000; (ii) Up to 2528% of the Option Shares may be purchased at any time after one year from the Grant Date December 27, 2000 and prior to termination of this option;; and (iii) Up This option shall become exercisable as to 50an additional 2% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after two years from on the Grant Date last day of each successive calendar month following the date set forth in paragraph 2(b)(ii) above and prior to termination of this option; (iv) Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after three years from the Grant Date and prior to termination of this option; and (v) Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after four years from the Grant Date and prior to termination of this option. (c) To exercise this option, the Optionee shall give written notice to the CompanyCompany in the form attached as Exhibit A, to the attention of its President Chief Financial Officer or other designated agent, in form satisfactory to the Company and shall deliver payment in full for the Option Shares with respect to which this option is then being exercised, as provided in paragraph 4(b) below. (d) Neither the Optionee nor the Optionee's heirs or legal representatives, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such shares Option Shares are issued to the Optionee or the Optionee's heirs or legal representatives under the terms of the Option Plan.

Term and Exercise of Option. (a) The term of this option Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. (b) Except as otherwise provided herein, this option This Option will be become exercisable in cumulative installments as follows: on the first to occur of either (i) None the first anniversary date of the Grant Date or (ii) the last day in any period of twenty (20) consecutive trading days during which the per share Fair Market Value of the Common Stock equals or exceeds on each of those trading days a per share amount equal to the Exercise Price Per Share of the Option Shares may be purchased prior to one year from the Grant Date; (ii) Up to 25% of the Option Shares may be purchased at any time after one year from the Grant Date and prior to termination of this option; (iii) Up to 50% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after two years from the Grant Date and prior to termination of this option; (iv) Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after three years from the Grant Date and prior to termination of this option; and (v) Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after four years from the Grant Date and prior to termination of this optionmultiplied by two. (c) To exercise this optionOption, the Optionee shall give written notice to the Company, to the attention of its President or other designated agent, in substantially the form satisfactory to attached hereto as Exhibit A, and the Company and Optionee shall deliver payment in full for the Option Shares with respect to which this option Option is then being exercised, as provided in paragraph 4(bSection 4(a) below. (d) Neither the Optionee nor the Optionee's heirs or legal representatives, legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such shares Option Shares are issued to the Optionee or the Optionee's heirs legal representatives, legatees or legal representatives distributees under the terms of the Option Plan.

Term and Exercise of Option. (a) The term of this option Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. (b) Except This Option is exercisable as otherwise provided herein, this option will be exercisable in cumulative installments as follows: (i) None to all of the Option Shares may be purchased prior to one year from on the Grant Date; (ii) Up to 25% of the Option Shares may be purchased at any time after one year from the Grant Date and prior to termination of this option; (iii) Up to 50% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after two years from the Grant Date and prior to termination of this option; (iv) Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after three years from the Grant Date and prior to termination of this option; and (v) Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after four years from the Grant Date and prior to termination of this option. (c) To exercise this optionOption, the Optionee shall give written notice to the Company, to the attention of its President or other designated agent, in substantially the form satisfactory to attached hereto as Exhibit A, and the Company and Optionee shall deliver payment in full for the Option Shares with respect to which this option Option is then being exercised, as provided in paragraph 4(bSection 4(a) below. (d) Neither the Optionee nor the Optionee's heirs or legal representatives, legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such shares Option Shares are issued to the Optionee or the Optionee's heirs legal representatives, legatees or legal representatives distributees under the terms of the Option Plan.