Common use of Maximum Option Period Clause in Contracts

Maximum Option Period. The period in which an Option may be exercised shall be determined by the Committee on the date of grant; provided, however that an Incentive Stock Option shall not be exercisable after the expiration of 10 years from the date the Incentive Stock Option was granted.

Maximum Option Period. The maximum period in which an Option may be exercised shall be determined by the Committee Board on the date of grant; provided, however that an Incentive Stock Option shall not be exercisable after the expiration of 10 years from the date the Incentive Stock Option was granted.

Maximum Option Period. The maximum period in which an Option may be exercised shall be determined by the Committee on the date of grant; provided, however however, that no Option that is an Incentive Stock Option shall be exercisable after the expiration of ten years from the date such Option was granted; and provided, further, however, that in the case of an Incentive Stock Option granted to a Participant who is a Ten Percent Shareholder, such Option shall not be exercisable after the expiration of 10 five years from the date the of grant. The terms of any Option that is an Incentive Stock Option was grantedmay provide that it is exercisable for a period less than such maximum periods.