Common use of Term and Termination of Option Clause in Contracts

Term and Termination of Option. Except as otherwise provided herein, the period in which the Option may be exercised as to any Vested Shares (the "Option Period") shall commence on the date such shares become Vested Shares and terminate at 5:00 p.m. Eastern Time on the date of the first to occur of the following events: (a) the 10th anniversary of the Grant Date; (b) if Grantee ceases to be a director of the Company for any reason other than as provided in paragraph (c) or (d) below, the Option shall lapse, unless it is previously exercised, ninety (90) days after Grantee's Termination of Directorship (as defined in Section 6.11); provided, however, that if Grantee's directorship is terminated by the Company for Cause or by Grantee without the consent of the Company, the Option shall (to the extent not previously exercised) lapse immediately; (c) if Grantee ceases to be a director of the Company by reason of his Disability, the Option shall lapse, unless it is previously exercised, one year after Grantee's Termination of Directorship; or (d) if Grantee dies while serving as a director, or during the 90-day period described in paragraph (b) or during the one-year period described in paragraph (c) and before the Option otherwise lapses, the Option shall lapse one year after the date of the Grantee's death. Upon Grantee's death, any exercisable Options may be exercised by Grantee's legal representative or representatives, by the person or persons entitled to do so under Grantee's last will and testament, or, if Grantee shall fail to make testamentary disposition of such Option or shall die intestate, by the person or persons entitled to receive such Option under the applicable laws of descent and distribution.

Term and Termination of Option. (a) Except as otherwise provided herein, the period in which the Option may be exercised as to any Vested Shares (the "Option Period") shall commence on the date such shares become Vested Shares and terminate at 5:00 p.m. Eastern Time on the date of the first to occur of the following events: (ai) the 10th anniversary of the Grant DateMarch 4, 2001; (bii) if If Grantee ceases to be a director Director of the Company for any reason other than as provided in paragraph (ciii) or (div) below, the Option shall lapse, unless it is previously exercised, ninety thirty (9030) days after Grantee's Termination position as a Director of Directorship (as defined in Section 6.11); provided, however, that if Grantee's directorship is terminated by the Company for Cause or by Grantee without the consent of the Company, the Option shall (to the extent not previously exercised) lapse immediately;terminates. (ciii) if If Grantee ceases to be a director Director of the Company by reason of his Disabilitymental or physical disability determined by a medical doctor satisfactory to the Company, the Option shall lapse, unless it is previously exercised, within one year after the date that the Grantee's Termination position as a Director of Directorship; orthe Company terminates. (div) if If Grantee dies while serving as a directorDirector, or during the 9030-day period described in paragraph (b) or during the one-year period described in paragraph (cii) and before the Option otherwise lapses, the Option shall lapse one year after the date of the Grantee's death. Upon Grantee's death, any exercisable Options may be exercised by Grantee's legal representative or representatives, by the person or persons entitled to do so under Grantee's last will and testament, or, if Grantee shall fail to make testamentary disposition of such Option or shall die intestate, by the person or persons entitled to receive such Option under the applicable laws of descent and distribution. If Grantee exercises the Option after the Grantee's position as a Director terminates, the Option may be exercised only with respect to the shares that were otherwise vested on the date that the Grantee's position as a Director of the Company terminates. Upon the expiration of the Option Period, this Option, and all unexercised rights granted to Grantee hereunder, shall terminate as to all Vested Shares to which the Option Period relates, and thereafter be null and void. (b) The Board of Directors of the Company in its sole discretion may, by giving written notice to the Grantee ("Cancellation Notice"), cancel, effective upon the date of a Change in Control, any portion of the Option that remains unexercised on such date. Such Cancellation Notice shall be given to the Grantee at least ten (10) days prior to the date of cancellation.

Term and Termination of Option. (a) Except as otherwise provided herein, the period in which the Option may be exercised as to any Vested Shares (the "Option Period") shall commence on the date such shares become Vested Shares and terminate at 5:00 p.m. Eastern Time on the date of the first to occur of the following events: (ai) the 10th anniversary of the Grant Date;February 5, 2004 (bii) if If Grantee ceases to be a director Director of the Company for any reason other than as provided in paragraph (ciii) or (div) below, the Option shall lapse, unless it is previously exercised, ninety thirty (9030) days after Grantee's Termination position as a Director of Directorship (as defined in Section 6.11); provided, however, that if Grantee's directorship is terminated by the Company for Cause or by Grantee without the consent of the Company, the Option shall (to the extent not previously exercised) lapse immediately;terminates. (ciii) if If Grantee ceases to be a director Director of the Company by reason of his Disabilitymental or physical disability determined by a medical doctor satisfactory to the Company, the Option shall lapse, unless it is previously exercised, within one year after the date that the Grantee's Termination position as a Director of Directorship; orthe Company terminates. (div) if If Grantee dies while serving as a directorDirector, or during the 9030-day period described in paragraph (b) or during the one-year period described in paragraph (cii) and before the Option otherwise lapses, the Option shall lapse one year after the date of the Grantee's death. Upon Grantee's death, any exercisable Options may be exercised by Grantee's legal representative or representatives, by the person or persons entitled to do so under Grantee's last will and testament, or, if Grantee shall fail to make testamentary disposition of such Option or shall die intestate, by the person or persons entitled to receive such Option under the applicable laws of descent and distribution. If Grantee exercises the Option after the Grantee's position as a Director terminates, the Option may be exercised only with respect to the shares that were otherwise vested on the date that the Grantee's position as a Director of the Company terminates. Upon the expiration of the Option Period, this Option, and all unexercised rights granted to Grantee hereunder, shall terminate as to all Vested Shares to which the Option Period relates, and thereafter be null and void. (b) The Board of Directors of the Company in its sole discretion may, by giving written notice to the Grantee ("Cancellation Notice"), cancel, effective upon the date of a Change in Control, any portion of the Option that remains unexercised on such date. Such Cancellation Notice shall be given to the Grantee at least ten (10) days prior to the date of cancellation.