Each Option shall be evidenced by a written instrument in such form as the Vorstand shall determine and shall contain such terms and conditions as the Vorstand in co-ordination with the Aufsichtsrat shall deem appropriate.
The terms of each Stock Option Grant need not be identical, and the Vorstand need not treat Optionees uniformly.
Each Option shall be exercisable at such times and subject to such terms as the Vorstand may specify in the applicable Stock Option Grant, provided, however, that no Option shall be exercisable after the expiration of ten (10) years from the date it was granted.
The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria according to the then applicable resolution of the Companys stockholders) as the Vorstand in co-ordination with the Aufsichtsrat may deem appropriate.
Board means the Management Board (Vorstand) of the Issuer or any committee of such Board duly authorized to act on its behalf.