Common use of Vesting, Term and Exercise of Option Clause in Contracts

Vesting, Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you on or prior to the tenth anniversary of the Granting Date ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become exerciseable with respect to the first 100,000 Optioned Shares on May 23, 2003, with respect to the second 100,000 Optioned Shares on May 23, 2004 and with respect to the remaining 100,000 Optioned Shares on May 23, 2005. Any portion of the Option that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary of the Corporation (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, in full, of the Exercise Price for all such Optioned Shares in cash, certified check, surrender of shares of Common Stock of the Corporation having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Option, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Option. Subject to the terms and provisions of this Agreement and the Plan, the Corporation shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.

Vesting, Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you on or prior to the tenth anniversary of the Granting Date ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 1.40 per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become exerciseable exercisable with respect to the first 100,000 75,000 Optioned Shares Shares, on May 23the date hereof, 2003, with respect to the second 100,000 Optioned Shares on May 23, 2004 and with respect to the remaining 100,000 remainder of the Optioned Shares quarterly, on May 23a pro-rata basis from January 1, 2005 through December 31, 2005. Notwithstanding anything to the contrary contained herein or that certain Amended and Restated Employment Agreement, dated as of October 6, 2000, as amended, in no event shall the vesting of the Optioned Shares granted hereby be accelerated. Any portion of the Option that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary of the Corporation (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, in full, of the Exercise Price for all such Optioned Shares in cash, certified check, surrender of shares of Common Stock of the Corporation having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Option, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Option. Subject to the terms and provisions of this Agreement and the Plan, the Corporation shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.

Vesting, Term and Exercise of Option. Subject to the provisions of the Plan and this Agreement, this Option option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you or the representative of your estate on or prior to 10 years from the tenth anniversary date of the Granting Date grant ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become exerciseable with respect to the first 100,000 Optioned Shares on May 23, 2003, with respect to the second 100,000 Optioned Shares on May 23, 2004 and with respect to the remaining 100,000 Optioned Shares on May 23, 2005). Any portion of the Option Optioned Shares that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option option may be exercised by delivering to the Secretary of the Corporation Company (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix Exhibit A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, payment in full, full of the Exercise Price exercise price for all such Optioned Shares in cash, certified check, check or surrender of shares of Common Stock of the Corporation Company having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Optionoption, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Optionoption. Subject to the terms and provisions of this Agreement and the Plan, the Corporation Company shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.

Vesting, Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you on or prior to the tenth anniversary of the Granting Date ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 1.40 per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become exerciseable exercisable with respect to the first 100,000 75,000 Optioned Shares on May 23December 31, 20032005, with respect to the second 100,000 Optioned Shares on May 23, 2004 and with respect to the remaining 100,000 75,000 Optioned Shares Shares, on May 23December 31, 20052006. Any portion of the Option that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary of the Corporation (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, in full, of the Exercise Price for all such Optioned Shares in cash, certified check, surrender of shares of Common Stock of the Corporation having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Option, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Option. Subject to the terms and provisions of this Agreement and the Plan, the Corporation shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.

Vesting, Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you on or prior to the tenth anniversary of the Granting Date ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 2.50 per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become be immediately exerciseable with respect to the first 100,000 75,000 Optioned Shares Shares; this Option shall cumulatively vest with respect to 75,000 shares on May 23each of September 1, 2003, with respect to the second 100,000 Optioned Shares on May 23September 1, 2004 and with respect to the remaining 100,000 Optioned Shares on May 23September 1, 2005. Any portion of the Option that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary of the Corporation Company (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, in full, of the Exercise Price for all such Optioned Shares in cash, certified check, surrender of shares of Common Stock of the Corporation Company having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Option, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Option. Subject to the terms and provisions of this Agreement and the Plan, the Corporation Company shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.

Vesting, Term and Exercise of Option. All of the Optioned Shares shall be vested immediately (the "Vesting Date"). Subject to the provisions of this Agreement, this Option option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you on or prior to the tenth anniversary representative of your estate from the Granting Vesting Date through _______ ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become exerciseable with respect to the first 100,000 Optioned Shares on May 23, 2003, with respect to the second 100,000 Optioned Shares on May 23, 2004 and with respect to the remaining 100,000 Optioned Shares on May 23, 2005). Any portion of the Option Optioned Shares that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option option may be exercised by delivering to the Secretary of the Corporation Company (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix Exhibit A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, payment in full, full of the Exercise Price exercise price for all such Optioned Shares in cash, certified check, check or surrender of shares of Common Stock of the Corporation Company having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Optionoption, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Optionoption. Subject to the terms and provisions of this Agreement and the Plan, the Corporation Company shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.

Vesting, Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of vested Optioned Shares (subject to adjustment as provided in Section 6 hereof) by you on or prior to the tenth anniversary of the Granting Date ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 ___ per share (subject to adjustment as provided in Section 6 hereof) and all as subject to Plan and this Agreement. The Holder may exercise this Option according to the following vesting schedule: this Option shall become exerciseable with respect to the first 100,000 50,000 Optioned Shares Shares, on May 23, 2003the date hereof, with respect to the second 100,000 50,000 Optioned Shares, on the first anniversary of the date hereof, with respect to the third 50,000 Optioned Shares on May 23, 2004 the second anniversary of the date hereof and with respect to the remaining 100,000 50,000 Optioned Shares Shares, on May 23, 2005the third anniversary of the date hereof. Any portion of the Option that you do not exercise shall accumulate and can be exercised by you any time prior to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 shares, and you may only exercise your Option by purchasing shares in increments of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary of the Corporation (i) a written Notice of Intention to Exercise in the form attached hereto as Appendix A signed by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, in full, of the Exercise Price for all such Optioned Shares in cash, certified check, surrender of shares of Common Stock of the Corporation having a value equal to the exercise price of the Optioned Shares as to which you are exercising this Option, provided that such surrendered shares, if previously acquired by exercise of a Company stock option, have been held by you at least six months prior to their surrender, or by means of a brokered cashless exercise. As a holder of an option, you shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you upon the exercise of this Option. Subject to the terms and provisions of this Agreement and the Plan, the Corporation shall use its best efforts to cause the Optioned Shares to be issued as promptly as practicable after receipt of your Notice of Intention to Exercise.