Common use of Unexercised Stock Options Clause in Contracts

Unexercised Stock Options. As of the date of this letter, I have been granted the following options to purchase SFFS Common Stock that are unexercised (the “Stock Options”): H▇▇▇▇▇ City Bancorp, Inc. February 8, 2006 Page 3. I understand and agree that the Stock Options that remain unexercised as of the Effective Time will be canceled at or immediately prior to the Effective Time and converted into the right to receive a cash amount for each share subject to a Stock Option equal to the excess (if any) of (a) the Merger Consideration over (b) its exercise price specified in the above table, such amount to be paid at the time, in the manner and subject to the terms and conditions specified in the Merger Agreement. I irrevocably consent to the settlement of my Stock Options in this manner and waive any right that I might otherwise have to have my unexercised Stock Options addressed in any other manner.

Unexercised Stock Options. As of the date of this letter, I have been granted the following options to purchase SFFS Common Stock that are unexercised (the “Stock Options”): H▇▇▇▇▇ City Bancorp, Inc. February 8, 2006 Page 32. I understand and agree that the Stock Options that remain unexercised as of the Effective Time will be canceled at or immediately prior to the Effective Time and converted into the right to receive a cash amount for each share subject to a Stock Option equal to the excess (if any) of (a) the Merger Consideration over (b) its exercise price specified in the above table, such amount to be paid at the time, in the manner and subject to the terms and conditions specified in the Merger Agreement. I irrevocably consent to the settlement of my Stock Options in this manner and waive any right that I might otherwise have to have my unexercised Stock Options addressed in any other manner.