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SAN DIEGO PADRES - Declined to exercise their option on OF Tony Gwynn.
National League PITTSBURGH -- Declined to exercise their option on 2B Pokey Reese.
CINCINNATI REDS--Declined to exercise their option on the contract of RHP Ramon Ortiz.
Declined to exercise their option on F Alex Korolyuk, making him a restricted free agent.
NEW ENGLAND REVOLUTION--Announced they will not exercise their option on F Jose Luis Morales.
National League ARIZONA DIAMONDBACKS--Announced they will not exercise their option on RHP Armando Reynoso.
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Typical options grants require that employees who leave the company exercise their options within 90 days.
Most companies explain to option recipients that they face a liability when they exercise their options.
When they exercise their options, their company receives a tax deduction equal to the gain.
If the shares of a company dropped, executives simply decided not to exercise their options.
Declined to exercise their options on G Bob Essensa, RW David Oliver, D Sean Gagnon and D Trent Cull.
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