Common use of Method and Time of Exercise Clause in Contracts

Method and Time of Exercise. The Option may be exercised by written notice delivered to the Company stating the number of shares with respect to which the Option is being exercised, together with a check made payable to the Company in the amount of the purchase price of such shares plus the amount of applicable federal, state and local withholding taxes, and the written statement provided for in Paragraph 10 hereof, if required by such Paragraph 10; PROVIDED, HOWEVER, with respect to the 260,000 Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness in the amounts of $54,000 owing by the Company to Optionee for services rendered by Optionee as a consultant to the Company, and $16,200 owing by the Company to Optionee for expenses incurred by Optionee in connection with rendering such services, which amounts shall only be payable to Optionee by the exercise of such Options. Not less than 100 shares may be purchased at any one time unless the number purchased is the total number purchasable under such Option at the time. Only whole shares may be purchased.

Method and Time of Exercise. The Option may be exercised by written notice delivered to the Company stating the number of shares with respect to which the Option is being exercised, together with a check made payable to the Company in the amount of the purchase price of such shares plus the amount of applicable federal, state and local withholding taxes, and the written statement provided for in Paragraph 10 hereof, if required by such Paragraph 10; PROVIDED, HOWEVER, with respect to the 260,000 250,000 Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness in the amounts amount of $54,000 62,500 owing by the Company to Optionee for services previously rendered by Optionee as a consultant to the Company, and $16,200 owing by the Company to Optionee for expenses incurred by Optionee in connection with rendering such services, which amounts amount shall only be payable to Optionee by the exercise of such Options. Not less than 100 shares may be purchased at any one time unless the number purchased is the total number purchasable under such Option at the time. Only whole shares may be purchased.

Method and Time of Exercise. The Option may be exercised by written notice delivered to the Company stating the number of shares with respect to which the Option is being exercised, together with a check made payable to the Company in the amount of the purchase price of such shares plus the amount of applicable federal, state and local withholding taxes, and the written statement provided for in Paragraph 10 hereof, if required by such Paragraph 10; PROVIDED, HOWEVER, with respect to the 260,000 100,000 Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness in the amounts amount of $54,000 37,000 owing by the Company to Optionee for services previously rendered by Optionee as a consultant to the CompanyCompany during the period from January 1, and $16,200 owing by the Company 1997 to Optionee for expenses incurred by Optionee in connection with rendering such servicesJune 30, 1997, which amounts amount shall only be payable to Optionee by the exercise of such Options. Not less than 100 shares may be purchased at any one time unless the number purchased is the total number purchasable under such Option at the time. Only whole shares may be purchased.

Method and Time of Exercise. The Option may be exercised by written notice delivered to the Company stating the number of shares with respect to which the Option is being exercised, together with a check made payable to the Company in the amount of the purchase price of such shares plus the amount of applicable federal, state and local withholding taxes, and the written statement provided for in Paragraph 10 hereof, if required by such Paragraph 10; PROVIDED, HOWEVER, with respect to the 260,000 100,000 Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness in the amounts of $54,000 25,000 owing by the Company to Optionee for services rendered by Optionee as a consultant to the Company, and $16,200 owing by the Company to Optionee for expenses incurred by Optionee in connection with rendering such services, which amounts shall only be payable to Optionee by the exercise of such Options. Not less than 100 shares may be purchased at any one time unless the number purchased is the total number purchasable under such Option at the time. Only whole shares may be purchased.

Method and Time of Exercise. The Option may be exercised by written notice delivered to the Company stating the number of shares with respect to which the Option is being exercised, together with a check made payable to the Company in the amount of the purchase price of such shares plus the amount of applicable federal, state and local withholding taxes, and the written statement provided for in Paragraph 10 hereof, if required by such Paragraph 10; PROVIDED, HOWEVER, with respect to the 260,000 200,000 Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness in the amounts amount of $54,000 50,000 owing by the Company to Optionee for services previously rendered by Optionee as a consultant to the CompanyCompany during the period from January 1, and $16,200 owing by the Company 1996 to Optionee for expenses incurred by Optionee in connection with rendering such servicesJune 30, 1996, which amounts amount shall only be payable to Optionee by the exercise of such Options. Not less than 100 shares may be purchased at any one time unless the number purchased is the total number purchasable under such Option at the time. Only whole shares may be purchased.