Common use of TERMS OF THE OPTION AGREEMENTS Clause in Contracts

TERMS OF THE OPTION AGREEMENTS. Each option agreement shall be in writing and shall contain such terms, conditions, restrictions, if any, and provisions as the Board or the Committee, as the case may be, shall from time to time deem appropriate. Such provisions or conditions may include without limitation restrictions on transfer, repurchase rights, or such other provisions as shall be determined by the Board or the Committee, as the case may be, PROVIDED that such additional provisions shall not be inconsistent with any other term or condition of the Plan and such additional provisions shall not cause any Incentive Stock Option granted under the Plan to fail to qualify as an incentive option within the meaning of Section 422 of the Code. At such time as the Corporation has a class of securities registered pursuant to Section 12 of the Exchange Act, the shares of stock issuable upon exercise of an option by any executive officer, director or beneficial owner of more than ten percent of the Common Stock of the Corporation may not be sold or transferred (except that such shares may be issued upon exercise of such option) by such officer, director or beneficial owner for a period of six months following the grant of such option. Option agreements need not be identical, but each option agreement by appropriate language shall include the substance of all of the following provisions:

TERMS OF THE OPTION AGREEMENTS. Each option agreement shall be in writing and shall contain such terms, conditions, restrictions, if any, and provisions as the Board or the Committee, as the case may be, shall from time to time deem appropriate. Such provisions or conditions may include without limitation restrictions on transfer, repurchase rights, or such other provisions as shall be determined by the Board or the Committee, as the case may be, PROVIDED provided that such additional provisions shall not be inconsistent with any other term or condition of the Plan and such additional provisions shall not cause any Incentive Stock Option granted under the Plan to fail to qualify as an incentive option within the meaning of Section 422 of the Code. At such time as the Corporation has a class of securities registered pursuant to Section 12 of the Exchange Act, the shares of stock issuable upon exercise of an option by any executive officer, director or beneficial owner of more than ten percent of the Common Stock of the Corporation may not be sold or transferred (except that such shares may be issued upon exercise of such option) by such officer, director or beneficial owner for a period of six months following the grant of such option. Option agreements need not be identical, but each option agreement by appropriate language shall include the substance of all of the following provisions: