Common use of Grant of Option; Term of Option Clause in Contracts

Grant of Option; Term of Option. The Corporation hereby grants to the Participant, pursuant to the Plan, as a matter of separate inducement and agreement in connection with his employment with the Corporation, and not in lieu of any salary or other compensation for his services, the right and option (the “Option”) to purchase all or any part of an aggregate of ( ) shares (the “Shares”) of Common Stock, at a purchase price (the “Option Price”) of Dollars Cents ($ ) per Share. The Option shall be designated as an Incentive Option. To the extent that the Option is designated as an Incentive Option and such Option does not qualify as an Incentive Option, the Option (or portion thereof) shall be treated as a Nonqualified Option. Except as otherwise provided in the Plan, the Option will expire if not exercised in full before , 20 (the “Expiration Date”) (such term commencing with the Grant Date and ending on the Expiration Date being referred to as the “Option Period”).

Grant of Option; Term of Option. The Corporation hereby grants to the Participant, pursuant to the Plan, as a matter of separate inducement and agreement in connection with his employment with the Corporation, and not in lieu of any salary or other compensation for his services, the right and option (the “"Option”") to purchase all or any part of an aggregate of ( ) shares (the “"Shares”") of Common Stock, at a purchase price (the “"Option Price”") of Dollars Cents ___________________ ($ $_____) per Share. The Option shall be designated as an Incentive Option. To the extent that the Option is designated as an Incentive Option and such Option does not qualify as an Incentive Option, the Option (or portion thereof) shall be treated as a Nonqualified Option. Except as otherwise provided in the Plan, the Option will expire if not exercised in full before _____, 20 20__ (the “"Expiration Date”") (such term commencing with the Grant Date and ending on the Expiration Date being referred to as the “"Option Period”").

Grant of Option; Term of Option. The Corporation hereby grants to the Participant, pursuant to the Plan, as a matter of separate inducement and agreement in connection with his employment with the Corporation, and not in lieu of any salary or other compensation for his services, the right and option (the “"Option”") to purchase all or any part of an aggregate of ( ) shares (the “"Shares”") of Common Stock, at a purchase price (the “"Option Price”") of Dollars Cents ($ ) per Share. The Option shall be designated as an Incentive Option. To the extent that the Option is designated as an Incentive Option and such Option does not qualify as an Incentive Option, the Option (or portion thereof) shall be treated as a Nonqualified Option. Except as otherwise provided in the Plan, the Option will expire if not exercised in full before , 20 (the “"Expiration Date”") (such term commencing with the Grant Date and ending on the Expiration Date being referred to as the “"Option Period”").