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 _________ Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness owing by the Company to Optionee for services previously rendered by Optionee as a consultant to the Company. 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 _________ Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness owing by the Company to Optionee for services previously rendered by Optionee as a consultant to the Company. 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. 5.

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 _________ 400,000 Options set forth in paragraph 1 hereof, Optionee shall be entitled to pay the exercise price against cancellation in full of certain indebtedness owing by the Company to Optionee for services previously rendered by Optionee as a consultant to the Company. 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.