Lapse. Subject to the provisions of Section 2 and Section 3, all Options granted hereunder shall lapse and be of no further force or effect on or after the fifth anniversary of the Effective Date if they are not exercised before such anniversary.
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Samples: Incentive Stock Option Agreement (Activeworlds Com Inc), Incentive Stock Option Agreement (Activeworlds Com Inc), Incentive Stock Option Agreement (Activeworlds Com Inc)
Lapse. Subject to the provisions of Section 2 and Section 3, all Options granted hereunder shall lapse and be of no further force or effect on or after the fifth tenth anniversary of the Effective Date if they are not exercised before such anniversary.
Appears in 1 contract
Samples: Incentive Stock Option Agreement (Activeworlds Com Inc)