{"component": "clause", "props": {"groups": [{"size": 17, "snippet": "No Option shall be exercisable after the expiration of ten years from the date Option was granted. The Board, at the time of grant, may direct that an Option be exercisable for a period of less than such maximum period.", "snippet_links": [{"key": "no-option", "type": "clause", "offset": [0, 9]}, {"key": "expiration-of", "type": "clause", "offset": [41, 54]}, {"key": "ten-years", "type": "clause", "offset": [55, 64]}, {"key": "the-board", "type": "clause", "offset": [99, 108]}, {"key": "time-of-grant", "type": "definition", "offset": [117, 130]}, {"key": "period-of", "type": "definition", "offset": [179, 188]}, {"key": "maximum-period", "type": "definition", "offset": [204, 218]}], "samples": [{"hash": "gU2cEXK0v37", "uri": "/contracts/gU2cEXK0v37#maximum-option-period", "label": "Stock Option Plan (Cordia Bancorp Inc)", "score": 22.0472279261, "published": true}, {"hash": "gorkcnhRrzg", "uri": "/contracts/gorkcnhRrzg#maximum-option-period", "label": "Stock Option Plan (First Bankshares, Inc.)", "score": 19.0, "published": true}, {"hash": "6aCrAFJZP5t", "uri": "/contracts/6aCrAFJZP5t#maximum-option-period", "label": "Incentive Plan (Central Virginia Bankshares Inc)", "score": 19.0, "published": true}], "hash": "e5e4738c1aa6ffe6b197e9bbfcbc01fb", "id": 1}, {"size": 17, "snippet": "The maximum period in which an Option may be exercised shall be determined by the Administrator on the date of grant, except that no Option that is an incentive stock option shall be exercisable after the expiration of ten years from the date such Option was granted. Notwithstanding the foregoing, any Option granted to any person then owning more than ten percent (10%) of the total combined voting power of all classes of shares of the Company, or of its parent or subsidiary corporation, must be exercised within five years from the date of the grant thereof. The terms of any Option that is an incentive stock option may provide that it is exercisable for a period less than such maximum period.", "snippet_links": [{"key": "maximum-period", "type": "definition", "offset": [4, 18]}, {"key": "by-the-administrator", "type": "clause", "offset": [75, 95]}, {"key": "date-of-grant", "type": "clause", "offset": [103, 116]}, {"key": "no-option", "type": "clause", "offset": [130, 139]}, {"key": "an-incentive-stock-option", "type": "clause", "offset": [148, 173]}, {"key": "expiration-of", "type": "clause", "offset": [205, 218]}, {"key": "ten-years", "type": "clause", "offset": [219, 228]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [268, 297]}, {"key": "granted-to", "type": "definition", "offset": [310, 320]}, {"key": "any-person", "type": "definition", "offset": [321, 331]}, {"key": "power-of", "type": "clause", "offset": [401, 409]}, {"key": "shares-of-the-company", "type": "definition", "offset": [425, 446]}, {"key": "subsidiary-corporation", "type": "definition", "offset": [468, 490]}, {"key": "within-five-years", "type": "definition", "offset": [510, 527]}, {"key": "date-of-the-grant", "type": "clause", "offset": [537, 554]}, {"key": "terms-of", "type": "definition", "offset": [568, 576]}], "samples": [{"hash": "aBfvyxBqLz", "uri": "/contracts/aBfvyxBqLz#maximum-option-period", "label": "Incentive Plan (Media Sciences International Inc)", "score": 19.0, "published": true}, {"hash": "8hj1Ku2h4FN", "uri": "/contracts/8hj1Ku2h4FN#maximum-option-period", "label": "2006 Stock Incentive Plan (Media Sciences International Inc)", "score": 19.0, "published": true}, {"hash": "8RDvlFOjnxd", "uri": "/contracts/8RDvlFOjnxd#maximum-option-period", "label": "2006 Stock Incentive Plan (Media Sciences International Inc)", "score": 19.0, "published": true}], "hash": "1e8f4b8f5061352104989adf8d89a7bf", "id": 2}, {"size": 13, "snippet": "The period in which an Option may be exercised shall be determined by the Committee on the date of grant; provided, however that an Incentive Stock Option shall not be exercisable after the expiration of 10 years from the date the Incentive Stock Option was granted.", "snippet_links": [{"key": "the-period", "type": "clause", "offset": [0, 10]}, {"key": "the-committee", "type": "clause", "offset": [70, 83]}, {"key": "date-of-grant", "type": "clause", "offset": [91, 104]}, {"key": "an-incentive-stock-option", "type": "clause", "offset": [129, 154]}, {"key": "expiration-of", "type": "clause", "offset": [190, 203]}], "samples": [{"hash": "5MZZfh8TTVT", "uri": "/contracts/5MZZfh8TTVT#maximum-option-period", "label": "Executive Stock Plan (Universal Corp /Va/)", "score": 19.0, "published": true}, {"hash": "jT2Nc2Xru0g", "uri": "/contracts/jT2Nc2Xru0g#maximum-option-period", "label": "Executive Stock Plan (Universal Corp /Va/)", "score": 18.0, "published": true}, {"hash": "h2sXGgYdjxl", "uri": "/contracts/h2sXGgYdjxl#maximum-option-period", "label": "Executive Stock Plan (Universal Corp /Va/)", "score": 18.0, "published": true}], "hash": "07ee68a940fb0084150ec654cc1c6fd4", "id": 3}, {"size": 7, "snippet": "No Option shall be exercisable after the expiration of ten years from the date the Option was granted. For Ten Percent Shareholders no Option shall be exercisable after five (5) years from the date it is granted. The terms of any Option may provide that it is exercisable for a period less than such maximum period.", "snippet_links": [{"key": "no-option", "type": "clause", "offset": [0, 9]}, {"key": "expiration-of", "type": "clause", "offset": [41, 54]}, {"key": "ten-years", "type": "clause", "offset": [55, 64]}, {"key": "the-option", "type": "clause", "offset": [79, 89]}, {"key": "percent-shareholders", "type": "clause", "offset": [111, 131]}, {"key": "terms-of", "type": "definition", "offset": [217, 225]}, {"key": "maximum-period", "type": "definition", "offset": [300, 314]}], "samples": [{"hash": "hFsmbDR0VL5", "uri": "/contracts/hFsmbDR0VL5#maximum-option-period", "label": "Option Agreement (Approved Financial Corp)", "score": 18.0, "published": true}, {"hash": "gFSbvK7093M", "uri": "/contracts/gFSbvK7093M#maximum-option-period", "label": "Option Agreement (Approved Financial Corp)", "score": 18.0, "published": true}, {"hash": "fNwTmk4ipgA", "uri": "/contracts/fNwTmk4ipgA#maximum-option-period", "label": "Option Agreement (Approved Financial Corp)", "score": 18.0, "published": true}], "hash": "fc3cc095532429387ff6f35185ac396f", "id": 4}, {"size": 3, "snippet": "The maximum period in which an Option may be exercised shall be ten years from the date such Option was granted. The terms of any Option may provide that it has a term that is less than such maximum period.", "snippet_links": [{"key": "maximum-period", "type": "definition", "offset": [4, 18]}, {"key": "ten-years", "type": "clause", "offset": [64, 73]}, {"key": "terms-of", "type": "definition", "offset": [117, 125]}], "samples": [{"hash": "2d1yacgwNB3", "uri": "/contracts/2d1yacgwNB3#maximum-option-period", "label": "2006 Equity Compensation Plan (Middleburg Financial Corp)", "score": 22.8904859685, "published": true}, {"hash": "h0Zc1ZWUcky", "uri": "/contracts/h0Zc1ZWUcky#maximum-option-period", "label": "Equity Compensation Plan (Middleburg Financial Corp)", "score": 19.0, "published": true}], "hash": "39131a443a97224fd2880ae784f034c0", "id": 5}, {"size": 2, "snippet": "The maximum period in which an Option may be exercised shall be determined by the Committee on the date of grant except that no Option shall be exercisable after the expiration of ten years from the date such Option was granted. The terms of any Option may provide that it is exercisable for a period less than such maximum period.", "snippet_links": [{"key": "maximum-period", "type": "definition", "offset": [4, 18]}, {"key": "the-committee", "type": "clause", "offset": [78, 91]}, {"key": "date-of-grant", "type": "clause", "offset": [99, 112]}, {"key": "no-option", "type": "clause", "offset": [125, 134]}, {"key": "expiration-of", "type": "clause", "offset": [166, 179]}, {"key": "ten-years", "type": "clause", "offset": [180, 189]}, {"key": "terms-of", "type": "definition", "offset": [233, 241]}], "samples": [{"hash": "f1PhkTDs22n", "uri": "/contracts/f1PhkTDs22n#maximum-option-period", "label": "Contribution and Sale Agreement (Bluerock Residential Growth REIT, Inc.)", "score": 26.5893223819, "published": true}], "hash": "5bc2833a9820b4866868cf68b1695ca7", "id": 6}, {"size": 1, "snippet": "The maximum period in which an Option may be exercised shall be one year from the date of grant unless the Administrator determines that a later expiration date is merited.", "snippet_links": [{"key": "maximum-period", "type": "definition", "offset": [4, 18]}, {"key": "one-year", "type": "clause", "offset": [64, 72]}, {"key": "date-of-grant", "type": "clause", "offset": [82, 95]}, {"key": "the-administrator", "type": "clause", "offset": [103, 120]}, {"key": "expiration-date", "type": "clause", "offset": [145, 160]}], "samples": [{"hash": "lz2fUX23ukM", "uri": "/contracts/lz2fUX23ukM#maximum-option-period", "label": "2001 Non Qualified Stock Option Plan (Educational Video Conferencing Inc)", "score": 18.0, "published": true}], "hash": "0d13e6f8aeab27be3678e44bb7cdb816", "id": 7}, {"size": 1, "snippet": "The maximum period in which an Option may be exercised shall be ten years from the date such Option was granted. The maximum period in which an incentive stock option granted to a Ten Percent Stockholder may be exercised is the applicable period required by the Code, currently five years from the date such incentive stock option was granted. The terms of any Option may provide that it has a term that is less than such maximum period.", "snippet_links": [{"key": "maximum-period", "type": "definition", "offset": [4, 18]}, {"key": "ten-years", "type": "clause", "offset": [64, 73]}, {"key": "granted-to", "type": "definition", "offset": [167, 177]}, {"key": "ten-percent-stockholder", "type": "definition", "offset": [180, 203]}, {"key": "applicable-period", "type": "definition", "offset": [228, 245]}, {"key": "required-by", "type": "definition", "offset": [246, 257]}, {"key": "the-code", "type": "clause", "offset": [258, 266]}, {"key": "five-years", "type": "definition", "offset": [278, 288]}, {"key": "terms-of", "type": "definition", "offset": [348, 356]}], "samples": [{"hash": "xGLhVd00ED", "uri": "/contracts/xGLhVd00ED#maximum-option-period", "label": "Incentive Compensation and Stock Plan (Newmarket Corp)", "score": 23.3093771389, "published": true}], "hash": "ba7854b9b1af09d587ec18408cbfcfff", "id": 8}, {"size": 1, "snippet": "The term during which an Option may be exercised shall be determined by the Board; provided, however, that in no event shall an Option be exercisable more than ten (10) years from the date it is granted.", "snippet_links": [{"key": "the-term", "type": "clause", "offset": [0, 8]}, {"key": "by-the-board", "type": "clause", "offset": [69, 81]}, {"key": "in-no-event-shall", "type": "clause", "offset": [107, 124]}], "samples": [{"hash": "dnrgVZMyKXr", "uri": "/contracts/dnrgVZMyKXr#maximum-option-period", "label": "1997 Omnibus Stock Incentive Plan (Juliana Mining Co Inc)", "score": 18.0, "published": true}], "hash": "d99c70cadb916ce9770d306caf88af6f", "id": 9}, {"size": 1, "snippet": "The maximum period in which an Option may be exercised is ten years from the Date of Grant. The terms of any Option my provide that it is exercisable for a period less than such maximum period.", "snippet_links": [{"key": "maximum-period", "type": "definition", "offset": [4, 18]}, {"key": "ten-years", "type": "clause", "offset": [58, 67]}, {"key": "date-of-grant", "type": "clause", "offset": [77, 90]}, {"key": "terms-of", "type": "definition", "offset": [96, 104]}], "samples": [{"hash": "4rRFFa6Zg8k", "uri": "/contracts/4rRFFa6Zg8k#maximum-option-period", "label": "1994 Stock Option Plan (Hawthorne Financial Corp)", "score": 18.0, "published": true}], "hash": "3961b3c598b9076c32c7a2394904ed35", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih5tYXhpbXVtLW9wdGlvbi1wZXJpb2QjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 63, "title": "Maximum Option Period", "parents": [["exercise-of-options", "Exercise of Options"], ["options", "Options"], ["reallocation-of-shares", "Reallocation of Shares"], ["qualification-of-incentive-stock-option", "Qualification of Incentive Stock Option"], ["subsidiary", "Subsidiary"]], "children": [["nontransferability", "NONTRANSFERABILITY"], ["effect-on-service", "EFFECT ON SERVICE"], ["rules-of-construction", "RULES OF CONSTRUCTION"], ["payment", "PAYMENT"], ["unfunded-plan", "UNFUNDED PLAN"]], "id": "maximum-option-period", "related": [["option-period", "Option Period", "Option Period"], ["maximum-term-of-option", "Maximum Term of Option", "Maximum Term of Option"], ["\u2587\u2587\u2587\u2587\u2587-period", "\u2587\u2587\u2587\u2587\u2587 Period", "\u2587\u2587\u2587\u2587\u2587 Period"], ["exercise-period-vesting", "Exercise Period Vesting", "Exercise Period Vesting"], ["termination-period", "Termination Period", "Termination Period"]], "related_snippets": [], "updated": "2025-07-07T12:37:39+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Maximum Option Period clause defines the longest duration for which an option\u2014such as to purchase, lease, or extend an agreement\u2014can be exercised under a contract. This clause sets a clear time limit, after which the option expires and can no longer be used, regardless of any other circumstances. For example, if a tenant has an option to renew a lease, the clause might specify that this option must be exercised within five years. Its core practical function is to provide certainty and prevent indefinite or open-ended option rights, ensuring both parties know the exact timeframe within which decisions must be made."}, "json": true, "cursor": ""}}