Common use of Grant of Option; Exercise Price Clause in Contracts

Grant of Option; Exercise Price. Subject to the provision of Section 2 hereof, the Company hereby grants to the Employee effective as of the date hereof the right, privilege and option to purchase on the terms and conditions hereinafter set forth up to 200,000 shares of common Stock at an exercise price of $42.375 per share (the "Option"). The Option is intended to be an "Incentive Stock Option" as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), subject to the provisions of Section 6(a) of the Plan and Section 422 of the Code, to the extent permitted by the Code, and a nonstatutory option with respect to the balance.

Grant of Option; Exercise Price. Subject to the provision provisions of Section 2 hereof, the Company hereby grants to the Employee effective as of the date hereof the right, privilege and option to purchase on the terms and conditions hereinafter set forth up to 200,000 shares of common Common Stock at an exercise a purchase price of $42.375 44.49 per share (the "Option"). The Option is intended to be an "Incentive Stock Option" as defined in and subject to the provisions of Section 422 422A of the Internal Revenue Code of 1986, as amended (the "Code"), subject to the provisions of Section 6(a) of the Plan and Section 422 of the Code, to the extent permitted by the Code, and a nonstatutory option with respect to the balance.