First Replacement Option Sample Clauses

First Replacement Option. Employee acknowledges and agrees that as of the Termination Date, the number of shares of the options subject to the First Replacement Option which Employee shall have vested in equals 48,125 shares (the "First Replacement Option Vested Shares"), none of which Employee has exercised. Employee shall be entitled to exercise the First Replacement Option Vested Shares on or before September 28, 2002, in accordance with the terms of the Option Exchange Program, the March Stock Option Agreement and the Stock Option Plan between Employee and the Company. The First Replacement Option Vested Shares shall continue to be governed by the terms and conditions of the March Stock Option Agreement, the Stock Option Plan, and the Option Exchange Program.