Common use of Compensatory Stock Options Clause in Contracts

Compensatory Stock Options. In addition to Base Salary and subject to the provisions of Article III hereof, Employee has been granted, by the Management Review Committee of UWSI an option (THE "OPTION") to purchase up to 470,000 shares of common stock, no par value per share, of UWSI ("UWSI COMMON STOCK") at an exercise price per share equal to 125% of the average closing price of UWSI Common Stock on the New York Stock Exchange for the ten trading days immediately preceding the date the Merger becomes effective, all in accordance with the United Wisconsin Services, Inc. Equity Incentive Plan and pursuant to a stock option agreement in the form attached hereto as EXHIBIT A.

Compensatory Stock Options. In addition to Base Salary and subject to the provisions of Article III hereof, Employee has been granted, by the Management Review Committee of UWSI an option (THE "OPTION") to purchase up to 470,000 530,000 shares of common stock, no par value per share, of UWSI ("UWSI COMMON STOCK") at an exercise price per share equal to 125% of the average closing price of UWSI Common Stock on the New York Stock Exchange for the ten trading days immediately preceding the date the Merger becomes effective, all in accordance with the United Wisconsin Services, Inc. Equity Incentive Plan and pursuant to a stock option agreement in the form attached hereto as EXHIBIT A.