Common use of Award of Non-Qualified Stock Option Clause in Contracts

Award of Non-Qualified Stock Option. The Corporation hereby grants to the Participant on Award Date a Non-Qualified Stock Option (NQSO) to purchase /$AwardsGranted$/ shares of the Corporation’s Common Stock at a price of /$GrantPrice$/ per share. However, if the Participant’s employment is terminated by reason of the Retirement of the Participant before December 31, <Year_of_Grant>, then a portion of this Option shall be forfeited immediately. The portion to be forfeited under this paragraph will be determined by dividing the number of shares subject to this NQSO by 12, multiplying the result by the number of full months in which the Participant was not employed by the Corporation during <Year_of_Grant>, and then rounding to the nearest whole share.

Award of Non-Qualified Stock Option. The Corporation hereby grants to the Participant on Award Date a Non-Qualified Stock Option (NQSO) to purchase /$AwardsGranted$/ shares of the Corporation’s Common Stock at a price of /$GrantPrice$/ per share. However, if the Participant’s employment is terminated by reason of the Retirement of the Participant before December 31October 1, <Year_of_Grant>, then a portion of this Option shall be forfeited immediately. The portion to be forfeited under this paragraph will be determined by dividing the number of shares subject to this NQSO by 12, rounding to the nearest whole number, and then multiplying the result by the number of full months in which the Participant was not employed by the Corporation during <Year_of_Grant>, and then rounding to the nearest whole shareyear.

Award of Non-Qualified Stock Option. The Corporation hereby grants to the Participant on Award Date a Non-Qualified Stock Option (NQSO) to purchase /$AwardsGranted$/ shares of the Corporation’s Common Stock at a price of /$GrantPrice$/ per share. However, if the Participant’s employment is terminated by reason of the Retirement of the Participant before December 31, <Year_of_Grant>2024, then a portion of this Option shall be forfeited immediately. The portion to be forfeited under this paragraph will be determined by dividing the number of shares subject to this NQSO by 12, multiplying the result by the number of full months in which the Participant was not employed by the Corporation during <Year_of_Grant>2024, and then rounding to the nearest whole share.