This excerpt taken from the SCUR DEF 14A filed Mar 28, 2005.
Type Of Awards
Subject to certain restrictions applicable to incentive stock options, awards will be exercisable by the recipients at such times as are determined by the Committee.
In addition to the general characteristics of all of the awards described in this Proxy Statement and the provisions of the 2002 Stock Option Plan, the basic characteristics of awards that may be granted under the 2002 Stock Option Plan are as follows:
Options may be granted to recipients at such exercise prices as the Committee may determine but not less than their fair market value (as defined in the 2002 Stock Option Plan) as of the date the option is granted. Stock options may be granted and exercised at such times as the Committee may determine, except that, unless applicable federal tax laws are modified, (1) no incentive stock option may be granted at less than fair market value, (2) no incentive stock options may be granted more than 10 years after the effective date of the 2002 Stock Option Plan, (3) an incentive and non-statutory stock option shall not be exercisable more than 10 years after the date of grant, and (4) the aggregate fair market value of the shares of our common stock with respect to which incentive stock options may first become exercisable in any calendar year for any employee may not exceed $100,000 (measured as of the date of the grant) under the 2002 Stock Option Plan or any other plan. Additional restrictions apply to an incentive stock option granted to an individual who beneficially owns more than 10% of the combined voting power of all classes of our stock.
The purchase price payable upon exercise of options may be payable in cash, or through a reduction of the number of shares of common stock delivered to the participant upon exercise of the option or by delivering stock already owned by the participant (where the fair market value of the shares of common stock withheld or delivered on the date of exercise is equal to the option price of the stock being purchased), or in a combination of cash and such stock, unless otherwise provided in the applicable award agreement. To the extent permitted by law, the participants may simultaneously exercise options and sell the stock purchased upon such exercise pursuant to brokerage or similar relationships and use the sale proceeds to pay the purchase price.