Common use of TERM AND EXERCISE OF OPTIONS Clause in Contracts

TERM AND EXERCISE OF OPTIONS. The Options shall remain ---------------------------- outstanding (subject to the vesting and exercisability provisions provided herein) during a period of six (6) years beginning on the Date of Grant (the "Option Term"). One-half (1/2) of Options shall vest on January 31, 1997 and one-half shall vest on January 31, 1998, so long as the Emplo ▇▇▇ remains continually employed by the Company from the date hereof through such date of vesting. Except as otherwise provided in Section 5 hereof, Options that have vested shall remain exercisable in whole at any time or in part and from time to time until the earlier to occur of the expiration of the Option Term and the expiration of one year after the date of the termination of the Employee's employment with the Company. The Employee shall not have any rights to dividends or any other rights of a stockholder of the Company with respect to any shares of Common Stock underlying the Options until such shares have been issued to him upon the exercise of the Options.

TERM AND EXERCISE OF OPTIONS. The Options shall remain outstanding ---------------------------- outstanding (subject to the vesting and exercisability provisions provided herein) during a period of six (6) years beginning on the Date of Grant (the "Option Term"). One-half One- third (1/21/3) of Options shall vest on each of January 31, 1997 1997, 1998 and one-half shall vest on January 31, 19981999, so long as the Emplo ▇▇▇ Employee remains continually employed by the Company from the date hereof through such date of vesting. Except as otherwise provided in Section 5 hereof, Options that have vested shall remain exercisable in whole at any time or in part and from time to time until the earlier to occur of the expiration of the Option Term and the expiration of one year after the date of the termination of the Employee's employment with the Company. The Employee shall not have any rights to dividends or any other rights of a stockholder of the Company with respect to any shares of Common Stock underlying the Options until such shares have been issued to him upon the exercise of the Options.