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

Date of Grant; Term of Option. The Option was approved by the Company’s Board of Directors to be effective on (the “Effective Date”) and may not be exercised later than the date that is seven (7) years after the Effective Date, subject to earlier termination in accordance with the Plan and this Agreement.

Date of Grant; Term of Option. The Option was approved by the Company’s Board of Directors to be effective on ______________ (the “Effective Date”) and may not be exercised later than the date that is seven (7) years after the Effective Date, subject to earlier termination in accordance with the Plan and this Agreement.

Date of Grant; Term of Option. The Option was approved by the Company’s Board of Directors to be effective on ________________ (the “Effective Date”) and may not be exercised later than the date that is seven (7) years after the Effective Date, subject to earlier termination in accordance with the Plan and this Agreement.

Date of Grant; Term of Option. The Option was approved by the Company’s Board of Directors on [DATE], to be effective on [DATE] (the “Effective Date”) and may not be exercised later than the date that is seven (7) years after the Effective Date, subject to earlier termination in accordance with the Plan and this Agreement.

Date of Grant; Term of Option. The Option was approved by the Company’s Board of Directors to be effective on __________________ (the “Effective Date”) and may not be exercised later than the date that is seven (7) years after the Effective Date, subject to earlier termination in accordance with the Plan and this Agreement.