Common use of Non-Statutory Clause in Contracts

Non-Statutory. In September, 1997, the Employer will grant a non-statutory stock option to Executive covering 15,000 shares of Standex Common Stock at an exercise price of $5.00 below the market price of the stock at the time. Vesting on this option will occur 1/3 on the first anniversary of the date of grant, 1/3 on the second anniversary and 1/3 on the third anniversary. The term of the option will be ten years. C. Option Grants in Accordance with Plan. All option grants mentioned in A and B above shall be made under the provisions of the Standex International Corporation 1994 Stock Option Plan.

Non-Statutory. In September, 1997, the Employer will grant granted a non-statutory stock option to Executive covering 15,000 shares of Standex Common Stock at an exercise price of $5.00 below the market price of the stock at the time. Vesting on this option will occur 1/3 on the first anniversary of the date of grant, 1/3 on the second anniversary and 1/3 on the third anniversary. The term of the option will be ten years. C. Option Grants in Accordance with Plan. All option grants mentioned in A and B above shall be made under the provisions of the Standex International Corporation 1994 Stock Option Plan.