Common use of TIME OF EXERCISE OF THE OPTION Clause in Contracts

TIME OF EXERCISE OF THE OPTION. (a) Subject always to the provisions of Sections 2(b) and 3 and the terms and conditions of the Employment Agreement: (i) the Option may not be exercised prior to September 25, 1997; and (ii) on and after September 25, 1997, the Option may be exercised as to seventy-five thousand shares covered thereby. On and after September 25, 1998, the Option may be exercised as to an additional seventy-five thousand shares covered thereby. On and after September 25, 1999, the Option may be exercised as to the remaining seventy-five thousand shares covered thereby.

TIME OF EXERCISE OF THE OPTION. (a) Subject always to the provisions of Sections 2(b) and 3 hereof and the terms and conditions of the Employment Agreement: (i) the Option may not be exercised prior to September 25, 19972000; and (ii) on and after September 25, 19972000, the Option may be exercised as to seventy-five thousand shares covered thereby. On ; (iii) on and after September 25, 19982001, the Option may be exercised as to an additional seventy-seventy five thousand shares covered thereby. On ; and (iv) on and after September 25, 19992002, the Option may be exercised as to the remaining seventy-seventy five thousand shares covered thereby.

TIME OF EXERCISE OF THE OPTION. (a) Subject always to the provisions of Sections 2(bSECTIONS 2(B) and 3 hereof and the terms and conditions of the Employment Agreement: (i) the Option may not be exercised prior to September 25, 1997; and 2003, (ii) on and after September 25, 1997, 2003 the Option may be exercised as to seventy-five thousand shares covered thereby. On ; (iii) on and after September 25, 19982004, the Option may be exercised as to an additional seventy-five thousand shares covered thereby. On ; and (iv) on and after September 25, 19992005, the Option may be exercised as to the remaining seventy-five thousand shares covered thereby.

TIME OF EXERCISE OF THE OPTION. (a) Subject always to the provisions of Sections 2(b) and 3 and the terms and conditions of the Employment Agreement: (i) the Option may not be exercised prior to September 25, 1997; and (ii) on and after September 25, 1997, the Option may be exercised as to seventy-five thousand shares covered thereby. On and after September 25, 1998, the Option may be exercised as to an additional seventy-seventy five thousand shares covered thereby. On and after September 25, 1999, the Option may be exercised as to the remaining seventy-seventy five thousand shares covered thereby.