Common use of Term of Exercisability Clause in Contracts

Term of Exercisability. Once all or a part of the option becomes exercisable, it shall remain exercisable until the earliest of: o The one-year anniversary of the Participant’s termination of employment due to death, disability or retirement (as defined in the Plan) o The date of the Participant’s termination of employment for any reason other than death, disability or retirement (as defined in the Plan) o The date that is ten (10) years from the date of grant o Other:__________________________________________________________________________________ Transferability: The Participant: o may transfer the option pursuant only to the laws of descent and distribution o may transfer the option in the following manner: ________________________________________________ This Option Agreement is subject to the terms and conditions of the Plan. The Participant has received a copy of the Plan’s prospectus, including a copy of the Plan. The Participant agrees to the terms of this Option Agreement, which may be amended only upon a written agreement signed by the parties hereto. The Company will notify the Participant of the methods by which this option may be exercised. This _______ day of ____________________, 2_____. By: _____________________________________ ____________________________________________ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Senior Vice President This Agreement sets forth the terms of Restricted Stock awarded under the above-named Plan. Name of Participant: ___________________________________________________________________________________

Term of Exercisability. Once all or a part of the option becomes exercisable, it shall remain exercisable until the earliest of: o ____ The one-year anniversary of the Participant’s termination of employment due to death, disability or retirement (as defined in the Plan) o ____ The date of the Participant’s termination of employment for any reason other than death, disability or retirement (as defined in the Plan) o ____ The date that is ten (10) [ ] years from the date of grant o Other:__________________ Other:_________________________________________________________________ Transferability: The Participant: o ____ may transfer the option pursuant only to by will or by the laws of descent and distribution o ____ may transfer the option in the following manner: ________________________________________________ This Option Agreement is subject to the terms and conditions of the Plan. The Participant has received a copy of the Plan’s prospectus, including a copy of the Plan. The Participant agrees to the terms of this Option Agreement, which may be amended only upon a written agreement signed by the parties hereto. The Company will notify the Participant of the methods by which this option may be exercised. This _______ day of ____________________, 2_____. By: ______. AGL RESOURCES INC. PARTICIPANT: /s/ M▇▇▇▇▇▇ ▇. ▇▇▇▇▇ M▇▇▇▇▇▇ ▇. ▇▇▇▇▇ _______________________________ Senior Vice President This Agreement sets forth the terms of a Nonqualified Stock Option granted under the above-named Plan. Name of Participant:__________ ________________________ Date of Grant: ________________________________________ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Senior Vice President This Agreement sets forth the terms Number of Restricted Stock awarded under the above-named Plan. Name of Participant: Option Shares:________________________________ Exercise Price: $ _____________________________________________________ per share (no less than the fair market value on date of grant)