Common use of Shares Optioned and Option Price Clause in Contracts

Shares Optioned and Option Price. The Grantee shall have an option to purchase ________ shares of LHI common stock, par value $1.00 per share, for $_________ per share, subject to the terms and conditions of this Agreement and of the Plan, the provisions of which are hereby incorporated herein by reference. The shares subject to the Option are not, nor are they intended to be, Incentive Stock Option (ISO) shares as described in section 422 of the Internal Revenue Code of 1986, as amended.