Term of Options. Each Award Agreement shall specify a term at the end of which the Option automatically expires, subject to earlier termination provisions contained in Section 6(h) hereof; provided, that, the term of any Option may not exceed ten years from the Grant Date. In the case of an ISO granted to an Employee who is a Ten Percent Holder on the Grant Date, the term of the ISO shall not exceed five years from the Grant Date.
Appears in 11 contracts
Sources: Stock Option Award Agreement (Vapotherm Inc), Employment Agreement (Commerce Energy Group, Inc.), Restricted Stock Award Agreement (Trizetto Group Inc)