Common use of The Option Clause in Contracts

The Option. Under and subject to the provisions of the Corporation’s Employee Stock Option Plan as amended and as in effect from time to time (“Plan”), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 shares of Common Stock of the Corporation at the price of U.S. $2.45 per share (“Option”), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1, 2003. Nothing herein shall limit or restrict the Corporation’s rights to terminate the Employee’s employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts of the aggregate number of shares optioned hereby: (v) After January 1, 2003 and prior to January 1, 2004, not more than 35,000 shares; (vi) On and after January 1, 2004 and prior to January 1, 2005, not more than 140,000 shares; (vii) On and after January 1, 2005, not more than 350,000 shares.

The Option. Under and subject to the provisions of the Corporation’s 's Employee Stock Option Plan as amended and as in effect from time to time (“"Plan”"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 461,539 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“"Option”"), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (vi) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (viii) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares;at which time, one-hundred percent (100%) of the Option shall be vested. (viie) On and after January 1If a "Change of Control" (as defined in the Plan) shall occur, 2005, then the Options shall become 100% immediately exercisable in full (to the extent that they otherwise have not more than 350,000 sharesexpired).

The Option. Under and subject to the provisions of the Corporation’s Employee Stock Option Plan as amended and as in effect from time to time (“Plan”), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 461,539 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“Option”), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s rights to terminate the Employee’s employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (viii) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (viiv) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares; at which time, one-hundred percent (vii100%) On and after January 1, 2005, not more than 350,000 sharesof the Option shall be vested.

The Option. Under and subject to the provisions of the Corporation’s 's Employee Stock Option Plan as amended and as in effect from time to time (“"Plan”"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 34,650 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“"Option”"), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (viii) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (viiv) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares; at which time, one-hundred percent (vii100%) On and after January 1, 2005, not more than 350,000 sharesof the Option shall be vested.

The Option. Under and subject to the provisions of the Corporation’s 's Employee Stock Option Plan as amended and as in effect from time to time (“"Plan”"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 461,539 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“"Option”"), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (viii) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (viiv) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares; at which time, one-hundred percent (vii100%) On and after January 1, 2005, not more than 350,000 sharesof the Option shall be vested.

The Option. Under and subject to the provisions of the Corporation’s Employee 's Stock Option Incentive Plan as amended and as in effect from time to time (“the "Plan”"), on August 27, 1996 the Corporation hereby grants granted to the Employee a non-statutory option to purchase an aggregate of 350,000 Incentive Stock Option for 100,000 shares of Common Stock of the Corporation at the price of U.S. $2.45 10.75 per share (“the "Option”"), subject to which complies with Section 422 of the following conditionsInternal Revenue Code ("Code"). The Option terms shall be as follows: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1, 2003for one year from the date hereof. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five years from the date hereof of this Agreement, and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (vi) After January On June 1, 2003 and prior to January 1, 20041997, not more than 35,000 sharesthirty-three percent (33.333%); (viii) On and after January June 1, 2004 and prior to January 1, 20051998, not more than 140,000 shares;sixty-six percent (66.666%); and (viiiii) On and after January One June 1, 20051999, not more than 350,000 sharesone hundred percent (100%). (e) Upon a Change in Control, any outstanding Option shall immediately become exercisable.

The Option. Under and subject to the provisions of the Corporation’s 's Employee Stock Option Plan as amended and as in effect from time to time (“"Plan”"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 80,769 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“"Option”"), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (vvii) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (viviii) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares; at which time, one-hundred percent (vii100%) On and after January 1, 2005, not more than 350,000 sharesof the Option shall be vested.

The Option. Under and subject to the provisions of the Corporation’s 's Employee Stock Option Plan as amended and as in effect from time to time (“"Plan”"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 83,077 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“"Option”"), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (v) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (vi) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares; at which time, one-hundred percent (vii100%) On and after January 1, 2005, not more than 350,000 sharesof the Option shall be vested.

The Option. Under and subject to the provisions of the Corporation’s 's Employee Stock Option Plan as amended and as in effect from time to time (“"Plan”"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 34,615 shares of Common Stock of the Corporation at the price of U.S. $2.45 1.30 per share (“"Option”"), subject to the following conditions: (a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1December 2, 20032001, and then only to the extent that the Option is exercisable. Nothing herein shall limit or restrict the Corporation’s 's rights to terminate the Employee’s 's employment. (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation. (c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five ten years from the date hereof and shall not be exercisable thereafter. (d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts percentages of the aggregate number of shares optioned hereby: (vix) After January 1On December 2, 2003 and prior to January 1, 20042001, not more than 35,000 shares;8.333 percent (8.333%); and (vix) On and after January 1Thereafter, 2004 and prior to January 1on the second day of each calendar month an additional 8.333 percent (8.333%); until November 2, 20052002, not more than 140,000 shares; at which time, one-hundred percent (vii100%) On and after January 1, 2005, not more than 350,000 sharesof the Option shall be vested.