SELLER OPTION TERM

SELLER OPTION TERM. The period commencing at 5:00 p.m. Pacific Time on November 1, 2002 and ending at 5:00 p.m. Pacific Time on November 30, 2002, if and only if a Notice of Alliance Option Exercise has not been delivered pursuant to SECTION 2(c) hereof prior -1- to 5:00 p.m. Pacific Time on November 1, 2002. Notwithstanding the foregoing, in the event that (A) the closing sale price for one share of Alliance Stock as reported on the Nasdaq National Market is above $8.00... for ten (10) consecutive trading days or (B) Alliance consummates a single capital raising (i.e. not including the issuance of securities to "strategic partners," that is, existing or future licensees or assignees of technology rights from Alliance) equity offering with net proceeds of $10,000,000 or more, then the Seller Option Term shall commence on the date immediately after the date of such occurrence, if and only if a Notice of Alliance Option Exercise has not then been delivered pursuant to SECTION 2(c) hereof, and shall continue until November 30, 2002. View More