Common use of Term of Award Clause in Contracts

Term of Award. (a) The Term of the Award shall be for a period of five (5) years from the effective date hereof, subject to earlier termination as hereinafter provided; and

Term of Award. (a) The Term of the Award shall be for a period of (a) five (5) years from the effective date hereof, subject to earlier termination as hereinafter provided; andand (b) prior to its expiration or termination the Award may be exercised as to any part or all of the Shares originally subject to the Option.