Common use of Granting of Options Clause in Contracts

Granting of Options. 6.1 Subject to the terms of the Plan, the Committee may from time to time grant Options to persons eligible under Section 4 above; provided that if Options are granted to a Non-Employee Director either for more than 16,200 Shares or with a grant date other than either the Distribution Date (in the case of Non-Employee Directors who are first appointed or elected on the date this Plan is first approved by the Board) or on the later of the Distribution Date and the date a Non-Employee Director first assumes office as a Director (in the case of any Non-Employee Director who first assumes office as a Director after the date this Plan is first approved by the Board), such grant shall be subject to approval by the Company's stockholders. 6.2 Each person who is a Non-Employee Director as of the Distribution Date shall, as of the Distribution Date, receive a grant of Options respecting 16,200 Shares, and each Non-Employee Director who first becomes a Director after the Distribution Date shall, upon first becoming a Director, receive a grant of Options respecting 8,125 Shares, in all cases without further action by the Committee, the Board or otherwise. 6.3 Pursuant to Code Section 422 and applicable regulations, an Option shall not be deemed to be an ISO to the extent that the aggregate Fair Market Value, as determined on the date or dates of grant, of Shares with respect to which such ISOs are exercisable for the first time by any individual during any calendar year (under all stock option incentive plans of the Company or a Subsidiary) exceeds $100,000. ISOs which first become exercisable during a calendar year shall be taken into account in the order granted. Options that exceed the $100,000 limit shall be treated as NQSOs. 6.4 The purchase price of each Share subject to an Option (other than Options granted to Non-Employee Directors pursuant to Section 6.2 hereof) shall be fixed by the Committee, provided the purchase price for all Options shall not be less than 100% of the Fair Market Value of the Shares on the date the Option is granted. The purchase price of each Share subject to an Option granted to a Non-Employee Director pursuant to Section 6.2 hereof shall be 100% of the Fair Market Value of the Shares on the effective grant date of such Option. 6.5 Notwithstanding Section 6.4 above, pursuant to Code Section 422 and applicable regulations, the minimum purchase price of an ISO shall be 110% of the Fair Market Value of the Shares on the date the ISO is granted with respect to Grantees who at the time of grant are deemed to own 10% or more of the voting power of the Company's outstanding Shares. 6.6 Each Option (other than an Option granted to Non-Employee Directors pursuant to Section 6.2 hereof) shall expire and all rights to purchase Shares thereunder shall cease on the date fixed by the Committee. Options

Granting of Options. 6.1 Subject to the terms of the Plan, the Committee may from time to time grant Options to persons eligible under Section 4 above; provided that if Options are granted to a Non-Employee Director either for more than 16,200 Shares or with a grant date other than either the Distribution Date (in the case of Non-Employee Directors who are first appointed or elected on the date this Plan is first approved by the Board) or on the later of the Distribution Date and the date a Non-Employee Director first assumes office as a Director (in the case of any Non-Employee Director who first assumes office as a Director after the date this Plan is first approved by the Board), such grant shall be subject to approval by the Company's stockholders.if 6.2 Each person who is a Non-Employee Director as of the Distribution Date shall, as of the Distribution Date, receive a grant of Options respecting 16,200 Shares, and each Non-Employee Director who first becomes a Director after the Distribution Date shall, upon first becoming a Director, receive a grant of Options respecting 8,125 16,200 Shares, in all cases without further action by the Committee, the Board or otherwise. 6.3 Pursuant to Code Section 422 and applicable regulations, an Option shall not be deemed to be an ISO to the extent that the aggregate Fair Market Value, as determined on the date or dates of grant, of Shares with respect to which such ISOs are exercisable for the first time by any individual during any calendar year (under all stock option incentive plans of the Company or a Subsidiary) exceeds $100,000. ISOs which first become exercisable during a calendar year shall be taken into account in the order granted. Options that exceed the $100,000 limit shall be treated as NQSOs. 6.4 The purchase price of each Share subject to an Option (other than Options granted to Non-Employee Directors pursuant to Section 6.2 hereof) shall be fixed by the Committee, provided the purchase price for all Options shall not be less than 100% of the Fair Market Value of the Shares on the date the Option is granted. The purchase price of each Share subject to an Option granted to a Non-Employee Director pursuant to Section 6.2 hereof shall be 100% of the Fair Market Value of the Shares on the effective grant date of such Option. 6.5 Notwithstanding Section 6.4 above, pursuant to Code Section 422 and applicable regulations, the minimum purchase price of an ISO shall be 110% of the Fair Market Value of the Shares on the date the ISO is granted with respect to Grantees who at the time of grant are deemed to own 10% or more of the voting power of the Company's outstanding Shares. 6.6 Each Option (other than an Option granted to Non-Employee Directors pursuant to Section 6.2 hereof) shall expire and all rights to purchase Shares thereunder shall cease on the date fixed by the Committee. Options