Common use of Term and Exercise of Option Clause in Contracts

Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of Optioned Shares (subject to adjustment as provided in Section hereof) by you on or prior to May 23, 2013 ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 7 hereof) and all as subject to the Plan and this Agreement. The Holder may exercise this Option at any time after the date of this Agreement. 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 Company (i) a written Notice of Intention to Exercise in the form attached hereto as Exhibit 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 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 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.

Term and Exercise of Option. The Option shall be fully exercisable from and after the date hereof, but shall expire (and so may not be exercised) after the expiration of ten (10) years from the Granting Date (the "Option Period"), except as otherwise provided in Section 4. Subject to the provisions of this Agreementforegoing, this the Option may be exercised for up exercised, in whole or in part as to Optioned Shares by giving written notice to the Corporation, which notice shall include the date, the number of Optioned Shares (subject as to adjustment as provided in Section hereof) by you on or prior to May 23, 2013 ("Last Exercise Date") at an initial exercise which the Option is then being exercised and the aggregate purchase price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 7 hereof) and all as subject to the Plan and this Agreementsuch Optioned Shares. The Holder Option may exercise this Option not be exercised at any time after when the date of this Agreement. Any portion of the Option that you do exercise thereof violates any law or governmental order or regulation, and may not exercise shall accumulate and can be exercised by you as to less than 5,000 Optioned Shares at any one time, unless the balance subject thereto at the time prior is less than 5,000 Optioned Shares. Subject to the Last Exercise Date. You may not exercise your Option foregoing and to purchase a fractional share or fewer than 100 sharesSection 4, 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 notwithstanding that at the Secretary time of such exercise the Optionee may no longer be an officer or employee of the Company (i) a written Notice Corporation or any of Intention to Exercise its subsidiaries. At the time of exercise of the Option in whole or in part, the aggregate option price of the Optioned Shares purchased pursuant thereto shall be paid in full at the principal office of the Corporation in the form attached hereto as Exhibit A signed following manner: either (a) by you and specifying the number of Optioned Shares you desire to purchase, (ii) payment, in full, payment of the Exercise Price for all such Optioned Shares full purchase price in cash, certified checkor (b) subject to compliance with applicable securities laws, surrender by tender of such number of shares of Common Stock owned by the Optionee as is equal in value (such value to be the fair market value of the Company having a value equal such Common Stock determined by reference to the exercise closing sale price of the Optioned Shares Common Stock as of the business day immediately prior to which you are exercising the date of such exercise) to the full purchase price or (c) by delivery of any combination of cash and shares of Common Stock (valued as set forth above) which, in the aggregate, is equal in value to the full purchase price. For purposes of the foregoing: (i) shares "owned by the Optionee" shall include those issuable to the Optionee upon exercise of this Option, provided including the exercise the purchase price of which such shares are to be tendered to pay (in whole or in part); and (ii) shares of Common Stock shall be valued at the average of the closing sales prices, as reported by The Nasdaq Stock Market ("Nasdaq") per share of the Common Stock on each of the 20 consecutive Nasdaq trading days that such surrendered sharesends with the Nasdaq trading day that immediately precedes the post-mark or other forwarding date of the applicable exercise notice. In addition, 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 the Corporation shall have the rights of right to require a shareholder with respect to the Optioned Shares only after they shall have been issued to you payment upon the exercise of this Optionthe Option in connection with any obligation of the Corporation to withhold taxes with respect to such exercise; such payment shall be made in cash. Subject to the terms and provisions of this Agreement and the Plan, the 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 ExerciseTHE OPTIONEE HEREBY ACKNOWLEDGES THAT THE OPTIONEE MAY RECOGNIZE TAXABLE ORDINARY INCOME AS A RESULT OF THE EXERCISE OF THE OPTION AND IN PARTICULAR UPON TENDERING SHARES OF STOCK OWNED BY THE OPTIONEE IN PAYMENT OF THE PURCHASE PRICE AND THAT THE OPTIONEE SHOULD CONSULT WITH A TAX ADVISOR PRIOR TO ENGAGING IN ANY SUCH EXERCISE.

Term and Exercise of Option. Subject to the provisions of this Agreement: (a) Optionee shall have the right to exercise the Option during the period commencing six (6) months from the Grant Date and ending on the date five (5) years after the Grant Date, this with respect to all or any part of the Option Shares. (b) The Option may be exercised for up with respect to the number of Optioned Shares (subject to adjustment as provided in Section hereof) by you on all or prior to May 23, 2013 ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 7 hereof) and all as subject to the Plan and this Agreement. The Holder may exercise this Option at any time after the date of this Agreement. Any portion of the Option that you do not exercise shall accumulate and can be exercised by you Shares at any time prior during the term of this Option by the delivery to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 sharesCompany, and you may only exercise your Option by purchasing shares in increments at its principal place of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary business, of the Company (i) a written Notice notice of Intention to Exercise exercise in substantially the form attached hereto as Exhibit A signed by you and 1, specifying the number of Optioned Option Shares you desire to purchase, being exercised and signed by the person exercising the Option; and (ii) payment, in full, payment to the Company of the Exercise Price for all such Optioned Price, defined in Section 3 below, multiplied by the number of Option Shares being purchased (the “Purchase Price”) in cash, cash or by certified check. Upon acceptance of such notice and receipt of payment in full of the Purchase Price, surrender of the Company shall cause to be issued a certificate representing the shares of Common Stock of the Company having a value equal purchased. (c) The Optionee (or his transferee as permitted pursuant 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 Section 5 below) shall have the no rights of as a shareholder stockholder with respect to any Option Shares until the Optioned Shares only after they shall have been certificates reflecting the Common Stock accruing to the Optionee upon exercise of the Option are issued to you upon the exercise Optionee (or his transferee). The Company shall make no adjustment for any dividends (ordinary or extraordinary, whether in cash, securities or other property) or distribu­tions or other rights on or with respect to shares of this Option. Subject Common Stock purchased pursuant to the terms and provisions Option for which the record date is prior to the date of exercise thereof, except as the Plan or this Agreement and the Plan, the 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 Exerciseotherwise provides.

Term and Exercise of Option. Subject to the provisions of this Agreement, this Option may be exercised for up to the number of Optioned Shares (subject to adjustment as provided in Section hereof) by you on or prior to May 23, 2013 ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 1.69 per share (subject to adjustment as provided in Section 7 hereof) and all as subject to the Plan and this Agreement. The Holder may exercise this Option at any time after the date of this Agreement. 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 Company (i) a written Notice of Intention to Exercise in the form attached hereto as Exhibit 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 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 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.

Term and Exercise of Option. Subject to the provisions of this Agreement: (a) The Option shall vest and become exercisable in twenty percent (20%) annual increments beginning with the first anniversary of the Grant Date and continuing over the next four anniversaries thereof so long as the Optionee continues to serve as a member of the Board of Directors of the Company; provided further, this however, that the Option shall become fully vested and exercisable thirty (30) days (or any earlier date determined by the Compensation Committee of the Company) prior to the effective date of any dissolution or liquidation of the Company or any merger or consolidation in which the Company is not the surviving entity. (b) Subject to Section 7 hereof, the Option may be exercised for up with respect to all or any portion of the number of Optioned vested Shares (subject to adjustment as provided in Section hereof) by you on or prior to May 23, 2013 ("Last Exercise Date") at an initial exercise price (the "Exercise Price") of $1.81 per share (subject to adjustment as provided in Section 7 hereof) and all as subject to the Plan and this Agreement. The Holder may exercise this Option at any time after the date of this Agreement. Any portion of during the Option that you do not exercise shall accumulate and can be exercised Period by you any time prior the delivery to the Last Exercise Date. You may not exercise your Option to purchase a fractional share or fewer than 100 sharesCompany, and you may only exercise your Option by purchasing shares in increments at its principal place of 100 shares unless the remaining shares purchasable are less than 100 shares. This Option may be exercised by delivering to the Secretary business, of the Company (i) a written Notice notice of Intention to Exercise exercise in substantially the form attached hereto as Exhibit A signed 1, which shall be actually delivered to the Company no earlier than thirty (30) days and no later than ten (10) days prior to the date upon which Optionee desires to exercise of all or any portion of the Option; (ii) payment to the Company of the Exercise Price, defined in Section 3 below, multiplied by you and specifying the number of Optioned Shares you desire to purchasebeing purchased (the "Purchase Price") in the manner provided in Subsection (c) hereof; and (iii) payment of all applicable withholding tax obligations (whether federal, (iistate or local) payment, in full, imposed by reason of the Exercise Price for all such Optioned Shares in cash, certified check, surrender of shares of Common Stock exercise of the Company having a value equal to the exercise price Option. Upon acceptance of such notice, receipt of payment in full of the Optioned Purchase Price, and receipt of payment of all withholding tax obligations, the Company shall cause to be issued a certificate representing the 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 purchased. (c) The Purchase Price and all applicable withholding tax obligations shall have the rights of a shareholder with respect to the Optioned Shares only after they shall have been issued to you be paid in full upon the exercise of this Optionan Option and no Shares shall be issued or delivered until full payment therefor has been made. Subject Payment of the Purchase Price for all Shares purchased pursuant to the terms exercise of an Option and provisions of this Agreement and any tax withholding obligations shall be made in cash or by certified check; by tendering shares of previously owned Common Stock held at least six (6) months; or, to the Planextent available, the 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 Exerciseby a cashless exercise through a broker.