Common use of Term and Exercise Clause in Contracts

Term and Exercise. (a) This Option may be exercised by the Holder for all, but not less than all, of the Shares of the Common Stock subject to this Option at any time prior to the expiration of this Option, which expiration shall occur simultaneously with the first to occur of either of the following two (2) events: (1) The failure of the Holder to have duly exercised this Option in the manner provided herein prior to the expiration of a period of five (5) years from the date of the issuance of this Option. (2) The cessation for any reason whatsoever of the Holder as an officer of the Corporation. Upon the expiration of this Option, as foresaid, this Option shall be and become null and void. (b) The Holder shall exercise this Option by surrender to the Corporation of this Option with the Purchase Form attached hereto as Exhibit "A", duly executed, accompanied by payment in cash or by check of the price hereinafter set forth for the Shares of the Common Stock so purchased (the "Option Price"). (c) Within sixty (60) business days following the exercise of this Option by the Holder as hereinabove provided, the Corporation shall cause to be issued in the name of and delivered to the Holder a certificate or certificates representing the Shares of the Common Stock so purchased. The Corporation covenants and agrees that all of the Shares of the Common Stock which may be issued and delivered upon the due exercise o this Option by the Holder shall, upon such issuance and delivery, be fully paid and nonassessable.

Term and Exercise. (a) This Option may be exercised by the Holder for all, but not less than allor any part, of the Shares of the Common Stock subject to this Option at any time or times prior to the expiration of this Option, which expiration shall occur simultaneously with the first to occur of either of the following two four (2) events: (1) The failure of the Holder to have duly exercised this Option in the manner provided herein prior to the expiration of a period of five (54) years from the original issue date of (the issuance of this Option. (2"Issue Date") The cessation for any reason whatsoever of the Holder as an officer of the Corporation. Upon the expiration of this Optionbeing 29th September, as foresaid, this Option shall be and become null and void1997. (b) The Holder shall exercise this Option by surrender to the Corporation of this Option with the Purchase Form attached hereto as Exhibit "A", duly executed, accompanied by payment in cash or by check of the price hereinafter set forth for the Shares of the Common Stock so purchased (the "Option Price"). (c) Within sixty fifteen (6015) business days following the of an exercise of this Option by the Holder as hereinabove herein above provided, the Corporation shall cause to be issued in the name of and delivered to the Holder a certificate or certificates representing for the Shares of the Common Stock so purchased. The Corporation covenants and agrees that all of the Shares of the Common Stock which may be issued and delivered upon the due exercise o of this Option by the Holder shall, upon such issuance and delivery, be fully paid and nonassessablenon-assessable and free from all stamp taxes, liens and charges and such Shares shall rank in pari passu in all respects with the issued stock of the Corporation at the date of issue. The Corporation agrees at all times to reserve and hold available a sufficient number of Shares of the authorized but unissued Common Stock of the Corporation, to cover the Shares of the Common Stock issuable upon the exercise of this Option, together with any other outstanding options, warants or conversion rights.

Term and Exercise. (a) This Option The Warrant may be exercised by the Holder for all, but not less than all, all or part of the Shares of the Common Stock subject to this Option shares at any time prior to the expiration of this Option, which expiration shall occur simultaneously with the first to occur of either of the following two (2) events: (1) The failure of the Holder to have duly exercised this Option in the manner provided herein prior to the expiration of a period of five (5) years from after the date of the issuance of this Option. (2) The cessation for any reason whatsoever of the Holder as an officer of the Corporation. Upon the expiration of this Option, as foresaid, this Option shall be and become null and voidWarrant Agreement. (b) The Holder shall exercise this Option Holder' will surrender the Warrant, if at all, by surrender delivering to the Corporation of this Option Corporation, together with the Purchase Form and Subscription Agreement attached hereto as Exhibit "A"Exhibits A and B, each duly executed. The Warrant, the Purchase Form and the Subscription Agreement must be accompanied by payment in cash or by certified check of the price hereinafter set forth for the Shares of the Common Stock so purchased Warrant Price (the "Option Price"as that term is defined in Section 2). . (c) Within sixty thirty (6030) business days following the exercise of this Option the Warrant by the Holder as hereinabove providedprovided in this paragraph, the Corporation shall will cause to be issued in the name of and delivered to the Holder Holder, a certificate or certificates representing for the Shares of the Common Stock so purchasedShares. The Corporation covenants and agrees that all of the Shares of the Common Stock which may will be issued fully paid and delivered upon the due exercise o this Option by the Holder shall, non-assessable upon such issuance and delivery. The Corporation agrees at all times to reserve and hold available a number of shares of the authorized but unissued common stock of the Corporation which is equal to or greater than the number of shares of common stock issuable upon the exercise of the Warrant. (d) The Holder, be fully paid by accepting the Warrant, agrees that at the time of exercise, the Holder will sign a written agreement with the Corporation in which the Holder (i) represents that the Holder is acquiring the Shares solely for the Holder's own account, for investment and nonassessablenot with a view to resale or distribute.