Common use of Terms of Option and Exercise of Option Clause in Contracts

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof ) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO percent (N/A%) of the shares; (b) After the expiration of 1 YEAR (12) months from the granting date, this option may be exercised to the extent of not more than TWENTY percent (20%) of the Shares; (c) After the expiration of 2 YEARS (24) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares; (d) After the expiration of 3 YEARS (36) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (e) After the expiration of 4 YEARS (48) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately (120) months from the granting date. This option may be exercised by delivering to the Secretary of the Company, payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the Company, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof ) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately one hundred twenty (120) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO ________ percent (N/A%__%) of the sharesShares; (b) After the expiration of 1 YEAR ____ (12__) months from the granting date, this option may be exercised to the extent of not more than TWENTY ______ percent (20__%) of the Shares; (c) After the expiration of 2 YEARS ________ (24__) months from the granting date, this option may be exercised to the extent of an additional TWENTY not more than _____ percent (20__%) of the Shares; (d) After the expiration of 3 YEARS ________ (36__) months from the granting date, this option may be exercised to the extent of an additional TWENTY not more than _______ percent (20__%) of the Shares.; and (e) After the expiration of 4 YEARS _______ (48__) months from the granting date, this option may be exercised to the extent of an additional TWENTY ________ percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( ___%) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately one hundred twenty (120) months from the granting date. This option may be exercised by delivering to the Secretary of the CompanyBank, payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the CompanyBank, together with a written notice in a form satisfactory to the CompanyBank, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company Bank shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the CompanyBank, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company Bank for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued to you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof thereof) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company Bank or any of its affiliates Affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company Bank in its sole discretion), you must exercise incentive stock options (granted after 1986) that became become first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately _________ (120_____) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO ________ percent (N/A%_____%) of the shares;Shares. (b) After the expiration of 1 YEAR _________ (12_____) months from the granting date, this option may be exercised to the extent of not more than TWENTY _________ percent (20_____%) of the Shares;. (c) After the expiration of 2 YEARS __________ (24_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY _________ percent (20_____%) of the Shares;. (d) After the expiration of 3 YEARS __________ (36_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY _________ percent (20_____%) of the Shares. (e) After the expiration of 4 YEARS __________ (48_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY _________ percent (20_____%) of the Shares. (f) After the expiration of 5 YEARS __________ (60_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY _________ percent (20_____%) of the Shares. (g) After the expiration of N/A ( __________ (_____) months from the granting date, this option may be exercised to the extent of an additional _________ percent ( (_____%) of the Shares. (h) After the expiration of N/A ( __________ (_____) months from the granting date, this option may be exercised to the extent of an additional _________ percent ( (_____%) of the Shares. (i) After the expiration of N/A ( __________ (_____) months from the granting date, this option may be exercised to the extent of an additional _________ percent ( (_____%) of the Shares. (j) After the expiration of N/A ( __________ (_____) months from the granting date, this option may be exercised to the extent of an additional _________ percent ( (_____%) of the Shares. (k) After the expiration of N/A ( __________ (_____) months from the granting date, this option may be exercised to the extent of an additional _________ percent ( (_____%) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately _________ (120_____) months from the granting date. This option may be exercised by delivering to the Secretary of the Company, Bank payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the CompanyBank, together with a written notice in a form satisfactory to the CompanyBank, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company Bank shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the CompanyBank, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company Bank for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued to you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof ) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO percent (N/A%A %) of the shares; (b) After the expiration of 1 YEAR (12YEAR(12) months from the granting date, this option may be exercised to the extent of not more than TWENTY percent (20%) of the Shares; (c) After the expiration of 2 YEARS (24) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares; (d) After the expiration of 3 YEARS (36) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (e) After the expiration of 4 YEARS (48) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately (120) months from the granting date. This option may be exercised by delivering to the Secretary of the Company, payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the Company, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof thereof) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company Bank or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company Bank in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately ___________ (120______) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO _________ percent (N/A%____%) of the sharesShares; (b) After the expiration of 1 YEAR _________ (12_____) months from the granting date, this option may be exercised to the extent of not more than TWENTY ________ percent (20____%) of the Shares; (c) After the expiration of 2 YEARS __________ (24_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY ____________________ percent (20_____%) of the Shares; (d) After the expiration of 3 YEARS ___________ (36_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY ____________________ percent (20_____%) of the Shares.; (e) After the expiration of 4 YEARS ___________ (48_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY ____________________ percent (20_____%) of the Shares.; (f) After the expiration of 5 YEARS ___________ (60_____) months from the granting date, this option may be exercised to the extent of an additional TWENTY ____________________ percent (20_____%) of the Shares.; (g) After the expiration of N/A ( ___________ (_____) months from the granting date, this option may be exercised to the extent of an additional ____________________ percent ( (_____%) of the Shares.; (h) After the expiration of N/A ( ___________ (_____) months from the granting date, this option may be exercised to the extent of an additional ____________________ percent ( (_____%) of the Shares.; (i) After the expiration of N/A ( ___________ (_____) months from the granting date, this option may be exercised to the extent of an additional ____________________ percent ( (_____%) of the Shares.; (j) After the expiration of N/A ( ___________ (_____) months from the granting date, this option may be exercised to the extent of an additional ____________________ percent ( (_____%) of the Shares.; (k) After the expiration of N/A ( ___________ (_____) months from the granting date, this option may be exercised to the extent of an additional ____________________ percent ( (_____%) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately ____________(120______) months from the granting date. This option may be exercised by delivering to the Secretary of the CompanyBank, payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the CompanyBank, together with a written notice in a form satisfactory to the CompanyBank, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company Bank shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the CompanyBank, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company Bank for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued to you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof thereof) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO percent (N/A%) of the shares; (b) After the expiration of 1 YEAR (12) months from the granting date, this option may be exercised to the extent of not more than TWENTY percent (20%) of the Shares; (c) After the expiration of 2 YEARS (24) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares; (d) After the expiration of 3 YEARS (36) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (e) After the expiration of 4 YEARS (48) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of xx/xx/xx approximately (120) months from the granting date. This option may be exercised by delivering to the Secretary of the Company, payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the Company, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof ) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date shall vest and become exercisable as follows: (a) This option may be exercised immediately to the extent following shares on the following dates: Number of not more than ZERO percent (N/A%) of the shares; (b) After the expiration of 1 YEAR (12) months from the granting date, this option may be exercised to the extent of not more than TWENTY percent (20%) of the Shares; (c) After the expiration of 2 YEARS (24) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares; (d) After the expiration of 3 YEARS (36) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (e) After the expiration of 4 YEARS (48) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. Months Number Following Grant Of Shares ---------------- --------- Any portion of the this option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately _______________ (120_____) months from the granting date. This option may be exercised by delivering to the Secretary Chief Financial Officer of the Company, Company payment in full at of the Option Exercise Price for the number of Shares being purchased in cash or by certified check or official bank Company check or the equivalent thereof acceptable to the CompanyCompany or in Shares of Company common stock, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen five (155) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. (Common Stock utilized in full or partial payment of the Exercise Price shall be valued at its market value (determined in accordance with the Plan) at the date of exercise.) At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise the this option), deliver to you (or such other person entitled to exercise the this option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares shares dated the date the options were of this option was validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shares shall be issued or delivered. As a holder of an this option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued and delivered to you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof ) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date shall vest and become exercisable as follows: (a) This option may be exercised immediately to the extent following shares on the following dates: Number of not more than ZERO percent (N/A%) of the shares; (b) After the expiration of 1 YEAR (12) months from the granting date, this option may be exercised to the extent of not more than TWENTY percent (20%) of the Shares; (c) After the expiration of 2 YEARS (24) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares; (d) After the expiration of 3 YEARS (36) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (e) After the expiration of 4 YEARS (48) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. Months Number Following Grant Of Shares --------------- --------- Any portion of the this option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of approximately _______________ (120_____) months from the granting date. This option may be exercised by delivering to the Secretary Chief Financial Officer of the Company, Company payment in full at of the Option Exercise Price for the number of Shares being purchased in cash or by certified check or official bank Company check or the equivalent thereof acceptable to the CompanyCompany or in Shares of Company common stock, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen five (155) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. (Common Stock utilized in full or partial payment of the Exercise Price shall be valued at its market value (determined in accordance with the Plan) at the date of exercise.) At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise the this option), deliver to you (or such other person entitled to exercise the this option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares shares dated the date the options were of this option was validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shares shall be issued or delivered. As a holder of an this option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued and delivered to you upon the exercise of this option.

Terms of Option and Exercise of Option. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof thereof) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date as follows: (a) This option may be exercised immediately to the extent of not more than ZERO percent (N/A%A %) of the shares; (b) After the expiration of 1 YEAR (12) months from the granting date, this option may be exercised to the extent of not more than TWENTY percent (20%) of the Shares; (c) After the expiration of 2 YEARS (24) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares; (d) After the expiration of 3 YEARS (36) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (e) After the expiration of 4 YEARS (48) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (f) After the expiration of 5 YEARS (60) months from the granting date, this option may be exercised to the extent of an additional TWENTY percent (20%) of the Shares. (g) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (h) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (i) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (j) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. (k) After the expiration of N/A ( ) months from the granting date, this option may be exercised to the extent of additional percent ( %) of the Shares. Any portion of the option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of xx/xx/xx approximately (120) months from the granting date. This option may be exercised by delivering to the Secretary of the Company, payment in full at the Option Price for the number of Shares being purchased in cash or by certified check or official bank check or the equivalent thereof acceptable to the Company, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than fifteen (15) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise the option), deliver to you (or such other person entitled to exercise the option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such Shares dated the date the options were validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional Shares shall be issued or delivered. As a holder of an option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued you upon the exercise of this option.