Common use of Surrender of Option Clause in Contracts

Surrender of Option. Upon surrender of this Option for transfer or ------------------- exchange or upon the exercise hereof, this Option shall be canceled by the Company, and shall not be reissued by the Company and, except as provided in Section 2 in case of a partial exercise or an exchange or Section 8 in case of a transfer, or Section 9 in case of mutilation. Any new Option certificate shall be issued promptly but not later than fourteen (14) days after receipt of the old Option certificate.

Surrender of Option. Upon surrender of this Option for transfer or exchange ------------------- exchange or upon the exercise hereof, this Option shall be canceled by the Company, and shall not be reissued by the Company and, except as provided in Section 2 in case of a partial exercise or an exchange or Section 8 in case of a transfer, or Section 9 in case of mutilation. Any new Option certificate shall be issued promptly but not later than fourteen (14) days after receipt of the old Option certificate.