Common use of Grant of Incentive Stock Options Clause in Contracts

Grant of Incentive Stock Options. (a) The Company, pursuant to the 2001 Plan, hereby grants to Grantee, as of December 31 of each year, beginning December 31, 2003, assuming Grantee is the __________ of the Company or Old Line Bank (the "Bank") on such date and assuming options are available for issuance under the 2001 Plan on such date, Options (which are intended to be Incentive Stock Options) to purchase ____ shares of Common Stock. The Option Price per share shall be equal to the Fair Market Value on the Grant Date. (b) The Company may grant such additional Options to Grantee as the Company (acting through its Board of Directors or a committee thereof may deem to be appropriate from time to time). (c) The Options granted to Grantee, and the Option Price, shall be set forth on Exhibit C, and a copy of Exhibit C, as updated, shall be sent to Grantee no less than annually.

Grant of Incentive Stock Options. (a) The CompanyBank, pursuant to the 2001 Plan, hereby grants to Grantee, as of December 31 of each year, beginning December 31, 2003, assuming Grantee is the __________ of the Company or Old Line Bank (the "Bank") on such date and assuming options are available for issuance under the 2001 Plan on such date, Options (which are intended to be Incentive Stock Options) to purchase ____ shares of Common Stock. The Option Price per share shall be equal to the Fair Market Value on the Grant Date. (b) The Company Bank may grant such additional Options to Grantee as the Company Bank (acting through its Board of Directors or a committee thereof may deem to be appropriate from time to time). (c) The Options granted to Grantee, and the Option Price, shall be set sent forth on Exhibit C, and a copy of Exhibit C, as updated, shall be sent to Grantee no less than annually.