Common use of Required Purchase Clause in Contracts

Required Purchase. In the event Director ceases to act as a director for any reason, any Options which have not vested are automatically terminated. Any Option shares which have vested may be purchased through exercise of the Option by Director according to the terms of the 1992 Plan. Option Shares which have not vested shall not be considered to be "Options" until they are vested for purposes of the 1992 Plan.

Required Purchase. In the event Director ceases to act as a director for any reason, any Options which have not vested are automatically terminated. Any , My Option shares which have vested may be purchased through exercise of the Option by Director according to the terms of at the 1992 1994 Plan. Option Shares which have not vested shall not riot be considered to be "'Options" ' until they are vested for purposes of the 1992 1994 Plan.