Term and Exercise. The Option shall expire five (5) years from the date hereof, subject to earlier termination as set forth in Section 3. Subject to the provisions of Section 3, the Option shall become exercisable in installments as set forth on the last page of this Agreement. Notwithstanding anything to the contrary in this Agreement, this Option shall terminate and be void and of no effect if the Plan is not approved by the holders of Voting Stock at the Corporation's 1998 annual meeting of shareholders.
Appears in 3 contracts
Sources: Incentive and Non Qualified Stock Option Agreement (Itc Learning Corp), Non Qualified Stock Option Agreement (Itc Learning Corp), Incentive and Non Qualified Stock Option Agreement (Itc Learning Corp)