Common use of GRANT OPTION Clause in Contracts

GRANT OPTION. Centrum hereby grants to Employee the right and option to purchase from it, on the following terms and conditions, all or any part of an aggregate of Fifty Five Thousand Six Hundred Seventy One (55,671) shares of Centrum's common stock $.05 par value (the "Shares"). The purchase price for all Shares shall be $2.00 per share, exercisable and payable as hereinafter provided. The price per share represents the fair market value for these shares as of this date, as determined by Centrum's Board of Directors.

GRANT OPTION. Centrum hereby grants to Employee the right and option to purchase from it, on the following terms and conditions, all or any part of an aggregate of Fifty Five Thousand Six Hundred Seventy One SHARES (55,671SHARE#) shares of Centrum's common stock $.05 par value (the "Shares"). The purchase price for all Shares shall be $2.00 per share, exercisable and payable as hereinafter provided. The price per share represents the fair market value for these shares as of this date, as determined by Centrum's Board of Directors.