Common use of Term and Vesting of Option Clause in Contracts

Term and Vesting of Option. Subject to the terms of this Agreement, the Option shall expire five years from the date of this Agreement and may be exercised at any time from the date hereof until the expiration date for all or any portion of the Shares (in whole shares); provided, however, that if the Option is partially exercised, it shall be done so in denominations of 25,000 Shares or more.

Term and Vesting of Option. Subject to the terms of this Agreement, the Option shall expire five years from the date hereof and shall vest and be exercisable as follows: all or a portion of this Agreement and may be exercised at any time 150,000 Shares (in whole shares) of the Option from the date hereof until April 27, 2001 to the expiration date for of the Option; and, all or any portion of the 150,000 Shares (in whole shares)) of the Option from April 27, 2002 to the expiration of the Option; provided, however, that if any portion of the Option is partially exercised, it shall be done so exercisable in denominations of 25,000 Shares or more.