Term of Awards. The term of each Award shall be for such period as may be determined by the Committee; provided that in no event shall the term of any Option or Stock Appreciation Right exceed a period of ten years (or in the case of an Incentive Stock Option such shorter term as may be required under Section 422 of the Code).
Appears in 2 contracts
Samples: Securities Purchase Agreement (MDwerks, Inc.), Securities Purchase Agreement (MDwerks, Inc.)
Term of Awards. The term of each Award shall be for such period as may be determined by the Committee; provided provided, however, that in no event shall the term of any Incentive Stock Option or Stock Appreciation Right exceed a period of ten years (or in from the case date of an Incentive Stock Option such shorter term as may be required under Section 422 of the Code)its grant.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Advanced Lighting Technologies Inc), Stock Purchase Agreement (Advanced Lighting Technologies Inc)
Term of Awards. The term of each Award shall be for such period as may be determined by the Committee; provided that in no event shall the term of any Option or Stock Appreciation Right exceed a period of ten years (or in the case of an Incentive Stock Option such shorter term as may be required under Section 422 of the Code); and provided further that if an option is granted in substitution for another option, the term of the substituted option shall not exceed the term of the original option.
Appears in 1 contract
Samples: Merger Agreement (Nuvola, Inc.)
