Price and Term of Options. The purchase price per share of Shares deliverable upon the exercise of each Option shall be 100% of the Fair Market Value per share of the Shares on the effective date of the grant as determined in [Section 7(b)].

Term of Options. Unless the Options terminate earlier pursuant to the provisions of this Agreement or the Plan, the Options shall expire on the seventh (7th) anniversary of the Grant Date (“Option Expiration Date”).

Term of Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Option shall be exercisable later than the tenth (10th) anniversary date of its grant.

Term of Stock Options. The term of each stock option granted to a Non-Employee Director shall be ten (10) years from the date the option is granted.

• Options: 250,000 options, 5-year term, at an execution price of the share price on day of your acceptance of this letter agreement and acknowledgement by the BOD. Immediate vesting.

(i) ​, if the Average Annual Material Margin is equal to or greater than the Benchmark Material Margin; or

Within thirty (30) Business Days after the Option Closing Date, Seller shall prepare and deliver to Buyer through EY, a statement setting forth Buyer’s calculation of Average Annual Material Margin (the “Average Annual Material Margin Statement”). All calculations of the Average Annual Material Margin are subject to the “clean team” confidentiality procedures as agreed between the Parties pursuant to [Section 10.8(c)].

Each option shall be exercisable at such time or times, during such period and for such number of shares as shall be determined by the Plan Administrator and set forth in the documents evidencing the option. However, no option shall have a term in excess of ten (10) years measured from the option grant date.

Term and Lapse of Options. A Participant may exercise an Option to purchase Shares only on or before the date on which the term of the Option expires. Each Option Agreement shall set forth the term of the Option and the events described in the immediately following sentence which will cause the Option to lapse or otherwise end, in whole or in part, as of an earlier date. An Option shall lapse on the first to occur of the following events:

Options. All Non-Qualified Stock Options granted under the Plan shall have: # a per share exercise price equal to the closing price of the Common Stock on the day on which such options are granted; and # vesting, expiration and such other terms as provided in the Company’s form of Non-Employee Director Non-Qualified Stock Option Agreement attached hereto as [Exhibit B].