Period of Option and Conditions of Exercise. a. Period of Option. Unless the option is previously terminated pursuant to this Option Agreement, the term of the Option and of this Option Agreement shall commence on the date hereof (the "Date of Grant") and terminate upon the expiration of ten (10) years from the Date of Grant. Upon the termination of the Option, all rights of the Optionee hereunder shall cease.
Appears in 4 contracts
Sources: Stock Option Agreement (Citizens & Northern Corp), Incentive Stock Option Agreement (Citizens & Northern Corp), Incentive Stock Option Agreement (Citizens & Northern Corp)
Period of Option and Conditions of Exercise. a. Period of Option. Unless the option is previously terminated pursuant to this Option Agreement, the term of the Option and of this Option Agreement shall commence on the date hereof (the "“Date of Grant"”) and terminate upon the expiration of ten (10) years from the Date of Grant. Upon the termination of the Option, all rights of the Optionee hereunder shall cease.
Appears in 2 contracts
Sources: Incentive Stock Option Agreement (Citizens & Northern Corp), Incentive Stock Option Agreement (Citizens & Northern Corp)
Period of Option and Conditions of Exercise. a. Period of Option. (a) Unless the option Option is previously terminated pursuant to this Option AgreementAgreement or the Plan, the term of the Option and of this Option Agreement shall commence terminate on the date hereof (the "Date tenth anniversary of Grant") and terminate upon the expiration of ten (10) years from the Date of GrantGrant (the “Expiration Date”). Upon the termination of the Option, all rights of the Optionee Employee hereunder shall cease.
(b) Subject to the provisions of the Plan and this Agreement, the Option shall be exercisable and vested over years beginning with the first anniversary of the date of grant.
Appears in 1 contract
Sources: Incentive Stock Option Agreement (American Land Lease Inc)
Period of Option and Conditions of Exercise. a. Period of Option. (a) Unless the option Option is previously terminated pursuant to this Option AgreementAgreement or the Plan, the term of the Option and of this Option Agreement shall commence terminate on the date hereof (the "Date tenth anniversary of Grant") and terminate upon the expiration of ten (10) years from the Date of GrantGrant (the “Expiration Date”). Upon the termination of the Option, all rights of the Optionee hereunder shall cease.
(b) The Option shall be vested and exercisable as of the Grant Date with respect to 100% of the Option Shares.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Aimco OP L.P.)