Common use of When Option May Be Exercised Clause in Contracts

When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows: (i) At the end of one year from the date of grant up to 17,550 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,850 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,850 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.

When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows: (i) At the end of one year from the date of grant up to 17,550 20,250 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,850 6.750 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,850 6.750 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.

When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows: (i) At the end of one year from the date of grant up to 17,550 22,500 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,850 7,500 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,850 7,500 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten ten, and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.

When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows: (i) At the end of one year from the date of grant up to 17,550 33,334 shares shall become exercisable exercisable (ii) At the end of the second year from the date of grant, up to 5,850 33,333 shares shall become exercisable exercisable (iii) At the end of third year from the date of grant, up to 5,850 33,333 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten ten, and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.

When Option May Be Exercised. (a) The option granted you hereunder may not be exercised for a period of six months from the date of its grant by the Committee as set forth above. Thereafter, this option shall be exercisable as follows: (i) At the end of one year from the date of grant at October 15, 1999, up to 17,550 50% of the total shares shall become exercisable subject to the option; (ii) At the end of the second year from the date of grantat April 15, 2000, up to 5,850 100% of the total shares shall become exercisable (iii) At subject to the end of third year from the date of grant, up to 5,850 shares shall become exercisable option. This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten ten) and expires at the end of ten 10 years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.

When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows: (i) At the end of one year from the date of grant up to 17,550 30,000 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,850 10,000 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,850 10,000 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.

When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows: (i) At the end of one year from the date of grant up to 17,550 51,000 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,850 17,000 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,850 17,000 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten ten, and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.