Document:

Form of Incentive Option Agreement

 Exhibit 10.12 
 INCENTIVE STOCK OPTION AGREEMENT 
 CECO ENVIRONMENTAL CORP. 

2007 EQUITY INCENTIVE PLAN 
 THIS AGREEMENT is dated and made effective as of (the “Effective Date”)
                    , 20     by and between CECO ENVIRONMENTAL CORP., a Delaware corporation (the
“Company”), and                 . (“Optionee”). 
 WITNESSETH: 
 WHEREAS, Optionee on the date hereof is an employee of the Company
or one of its Subsidiaries; and 
 WHEREAS, the Company desires to grant an incentive stock option to Optionee to purchase
shares of the Company’s Common Stock pursuant to the Company’s 2007 Equity Incentive Plan, (the “Plan”); and 
 WHEREAS, the Compensation Committee of the Company has authorized the grant of a stock option to Optionee as of the Effective Date and has determined that, on the Effective Date, the Fair Market Value of
the Common Stock of the Company is the exercise price per share provided below. 
 NOW, THEREFORE, in consideration of the
premises and of the mutual covenants herein contained, the parties hereto agree as follows: 
 1. Grant of Option.
The Company hereby grants to Optionee as of the date hereof the right and option (the “Option”) to purchase up to             
(            ) shares of Option Stock (“Shares”) at an exercise price of $             per share
on the terms and conditions set forth herein and subject to the terms and conditions of the Plan. This Option is intended to qualify as an “incentive stock option” within the meaning of Section 422, or any successor provision, of the
Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder; provided however, that in the event Options to purchase Shares, which Shares have a Fair Market Value (determined as of the Effective Date)
exceeding $100,000, become exercisable for the first time in any calendar year, such Options to purchase Shares in excess of the $100,000 limitation shall be considered Non-Statutory Stock Options. 

All capitalized terms not defined in this Agreement shall have the meaning set forth in the Plan. 

2. Duration and Exercisability. 
 a. Vesting/Exercise Period. The Option shall become exercisable as to portions of the Shares as follows: (i) the Option shall not be exercisable with respect to any of the Shares until the
first anniversary of the Effective Date (the “First Vesting Date”); (ii) if Optionee has continuously provided services to the Company or any Subsidiary from the Effective Date through the First Vesting Date and has not been
Terminated (as hereafter defined) on or before the First Vesting Date, then on the First 

 
Vesting Date the Option shall become exercisable as to              Shares; and (iii) thereafter, provided that Optionee
continuously provides services to the Company or any Subsidiary of the Company and is not Terminated, upon each successive anniversary of the First Vesting Date, the Option shall become exercisable as to an additional
             Shares; provided, that the Option shall in no event ever become exercisable with respect to more than 100% of the Shares. 

b. Expiration. The Option shall expire on the tenth anniversary of the Effective Date (“Expiration
Date”) and must be exercised, if at all, on or before the earlier of the Expiration Date and any date on which the Option terminated in accordance with the provisions of Section 3. 

c. Lapse Upon Expiration. To the extent that this Option is not exercised prior to the applicable expiration date
set forth in Section 2(b) or Section 3 of this Agreement, all rights of Optionee under this Option shall thereupon be forfeited. 
 3. Termination. 
 a. Termination for Any Reason
Other than Death, Disability or a Change of Control. If Optionee is Terminated for any reason other than his death, Disability or a Change of Control (both terms as hereafter defined), this Option shall be exercisable only to the extent the
Option was exercisable on the date of Termination, but had not previously been exercised, and shall expire on the earlier of (i) the close of business ninety days after the Termination Date (as hereafter defined) and (ii) the Expiration
Date. Notwithstanding the foregoing, if the Optionee has a Termination for Misconduct, then the Option shall terminate immediately on the Optionee’s Termination Date. 

b. Termination Because of Death or Disability. If Optionee is Terminated because of his death or his Disability (or
Optionee dies within three (3) months after a Termination other than because of his Disability or because of the existence of Cause), then this Option shall be exercisable by Optionee, or the person or persons to whom Optionee’s rights
under this Option shall have passed by Optionee’s will or by the laws of descent and distribution, only to the extent the Option was exercisable on the date of Optionee’s Termination, but had not previously been exercised, and shall expire
on the earlier of: (i) the close of business six months after Optionee’s Termination Date and (ii) the Expiration Date. 
 c. Change of Control. Notwithstanding the provisions of Section 2(a), upon a Change of Control, the Option shall be fully vested and exercisable by Optionee. The provisions of
Section 3(a) or 3(b) shall govern such Option thereafter, as the case may be. 
 d. Definition.

 “Termination” or “Terminated” means that Optionee has for any reason ceased
to provide services as an employee of the Company or Subsidiary of the Company, except in the case of sick leave, military leave, or any other leave of absence approved by the Committee, provided that such leave is for a period of not more than
ninety (90) days, or reinstatement upon the expiration of such leave is guaranteed by contract or statute. The Committee shall have sole discretion to determine whether Optionee has ceased to provide services and the effective date on which
Optionee ceased to provide services (the “Termination Date”). 

  
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 4. Manner of Exercise. 

a. General. The Option may be exercised only by Optionee (or other proper party in the event of death or
Disability), subject to the conditions of the Plan and this Agreement, and subject to such other administrative rules as the Committee deems advisable, by delivering written notice of exercise to the Company at its principal office. The notice shall
state the number of Shares exercised and shall be accompanied by payment in full of the Option price for all Shares exercised pursuant to the notice. Any exercise of the Option shall be effective upon receipt of such notice by the Company together
with payment that complies with the terms of the Plan and this Agreement. The Option may be exercised with respect to any number or all of the shares as to which it can then be exercised and, if partially exercised, may be so exercised as to the
unexercised shares at any time and from time to time prior to expiration of the Option as provided in this Agreement. 
 b. Form of Payment. Subject to approval by the Committee, payment of the Option price by Optionee shall be in the form of cash, personal check, certified check, or where permitted by law and
provided that a public market for the Company’s stock exists: (i) through a “same day sale” commitment from Optionee and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD
Dealer”) whereby Optionee irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the exercise price and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the
exercise price directly to the Company; or (ii) through a “margin” commitment from Optionee and a NASD Dealer whereby Optionee irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a
margin account as security for a loan from the NASD Dealer in the amount of the exercise price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the exercise price directly to the Company. Optionee shall be
solely responsible for any income or other tax consequences from any payment for Shares with Optionee’s Common Stock of the Company. 
 c. Stock Transfer Records. Provided that the notice of exercise and payment are in form and substance satisfactory to counsel for the Company, as soon as practicable after the effective exercise of
all or any part of the Option, Optionee shall be recorded on the stock transfer books of the Company as the owner of the Shares purchased, and the Company shall deliver to Optionee, or to the NASD Dealer, as the case may be, one or more duly issued
stock certificates evidencing such ownership. All requisite original issue or transfer documentary stamp taxes shall be paid by the Company. Optionee shall pay all other costs of the Company incurred to issue such Shares to such NASD Dealer.

 Shares purchased pursuant to exercise hereunder: (i) may be deposited with a NASD Dealer designated by Optionee, in
street name, if so provided in such exercise notice accompanied by all applications and forms reasonably required by the Committee to effect such deposit, or (ii) may be issued to Optionee and such other person, as joint owners with the right
of survivorship, as is specifically described in such exercise notice. Optionee shall be solely responsible for any income or other tax consequences of such a designation of ownership hereunder (or the severance thereof). 

  
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 5. Miscellaneous. 

a. Employment Rights as Shareholder. This Agreement shall not confer on Optionee any right with respect to
continuance of employment by the Company or any Subsidiary, nor shall it affect the right of the Company to Terminate such employment. Optionee shall have no rights as a shareholder with respect to Shares subject to this Option until such Shares are
issued to Optionee upon the exercise of this Option. No adjustment shall be made for dividends (ordinary or extra-ordinary, whether in cash, securities or other property), distributions or other rights for which the record date is prior to the date
such shares are issued, except as provided in Section 12 of the Plan. 
 b. Securities Law
Compliance. The exercise of the Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal and state securities laws and with all applicable requirements
of any stock exchange on which the Company’s Common Stock may be listed at the time of such issuance or transfer. The Company shall not be required to sell or issue any Shares if such issuance would constitute a violation of any provision of
any law or regulation of any governmental authority. 
 c. Mergers, Recapitalization, Stock Splits, Etc.
The provisions of Sections 14 and 17 of the Plan, as amended effective as of the Effective Date, shall govern all Options in the event of any reorganization, merger, consolidation, recapitalization, reclassification, change in par value, stock
split-up, combination of shares or dividend payable in capital stock, or other such transaction described under Sections 14 and 17 of the Plan, and the Company reserves all discretion provided therein. 

d. Withholding Taxes on Disqualifying Disposition. In the event of a disqualifying disposition of the Shares
acquired through the exercise of this Option, Optionee hereby agrees to promptly provide the Company written notice of such disposition, which notice shall be deemed delivered when received by the Company. Upon notice of a disqualifying disposition,
the Company may take such action as it deems appropriate to insure that, if necessary to comply with all applicable federal or state income tax laws or regulations, all applicable federal and state payroll, income or other taxes are withheld from
any amounts payable by the Company to Optionee. If the Company is unable to withhold such federal and state taxes, for whatever reason, Optionee hereby agrees to pay to the Company an amount equal to the amount the Company would otherwise be
required to withhold under federal or state law. Optionee may, subject to the approval and discretion of the Committee or such administrative rules it may deem advisable, elect to have all or a portion of such tax withholding obligations satisfied
by delivering shares of the Company’s Common Stock having a fair market value equal to such obligations. For the purpose of this Section 5(d), a “disqualifying disposition” means a sale or other transfer of any Shares on
or before the later of (i) the date two (2) years after the date hereof and (ii) the date one (1) year after transfer of such Shares to Optionee upon exercise of the Option, as more particularly set forth at
Section 422(a)(1) of the Code 

  
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 e. Nontransferability. The Option may not be transferred in any
manner other than by will or by the laws of descent and distribution and may be exercised during the lifetime of Participant only by Participant. The terms of the Option shall be binding upon the executors, administrators, successors and assigns of
Participant. 
 f. 2007 Equity Incentive Plan. The Option evidenced by this Agreement is granted pursuant
to the Plan, a copy of which Plan has been made available to Optionee and is hereby incorporated into this Agreement. This Agreement shall be subject to and in all respects limited and conditioned as provided in the Plan. The Plan governs this
Option and, in the event of any questions as to the construction of this Agreement or in the event of a conflict between the Plan and this Agreement, the Plan shall govern, except as the Plan otherwise provides. 

g. Stock Legend. The Committee may require that the certificates for any Shares purchased by Optionee (or, in the
case of death, Optionee’s successors) bear an appropriate legend to reflect the restrictions of applicable law. 
 h. Scope of Agreement. This Agreement shall bind and inure to the benefit of the Company and its successors and assigns and Optionee and any successor or successors of Optionee permitted by
Section 3 or Section 5(e) of this Agreement. 
 i. Interpretation. The Committee shall have the
sole discretion to interpret and administer the Plan. Any determination made by the Committee with respect to any Option shall be final and binding on the Company and on all persons having an interest in the Option granted under this Agreement and
the Plan. 
 j. Entire Option. The Plan, as amended, is incorporated herein by reference. This
Agreement and the Plan constitute the entire agreement and understanding of the parties hereto with respect to the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter. 

k. Successors and Assigns. The Company may assign any of its rights under the Option. The Option shall be
binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, the Option shall be binding upon Optionee and Optionee’s heirs, executors, administrators, legal
representatives, successors and assigns. 
 l. Governing Law. The Option shall be governed by and
construed in accordance with the internal laws of the State of Delaware, without regard to that body of law pertaining to choice of law or conflict of law. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day
and year first above written. 
  

							
	CECO Environmental Corp.	 		 	OPTIONEE
				
	By:	 	 	 		 	 
	Its:	 	 	 		 	[Signature]

  
 6Form of Non-Statutory Option Agreement

 Exhibit 10.13 
 STOCK OPTION AGREEMENT 
 CECO ENVIRONMENTAL CORP. 

2007 EQUITY INCENTIVE PLAN 
 THIS AGREEMENT is dated and made effective as of              (“Effective Date”) by and between CECO ENVIRONMENTAL
CORP., a Delaware corporation (the “Company”), and              (“Optionee”). 

WITNESSETH: 

WHEREAS, Optionee on the date hereof is a Director of the Company or one of its Subsidiaries; and 

WHEREAS, the Company desires to grant a non-statutory stock option to Optionee to purchase shares of the Company’s Common Stock
pursuant to the Company’s 2007 Stock Option Plan, as amended (the “Plan”); and 
 WHEREAS, the
Compensation Committee of the Company has determined that, on the date hereof, the Fair Market Value of Options Stock of the Company is not less than the exercise price per share provided below. 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, the parties hereto agree as follows:

 1. Grant of Option. The Company hereby grants to Optionee as of the date hereof the right and option (the
“Option”) to purchase up to              (            ) shares of Option Stock
(“Shares”) at an exercise price of $             per share on the terms and conditions set forth herein and subject to the terms and conditions of the Plan. This
option is not intended to qualify as an “incentive stock option” within the meaning of Section 422, or any successor provision, of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder.

 All capitalized terms not defined in this Agreement shall have the meaning set forth in the Plan. 

2. Duration & Exercisability. 

a. Vesting and Exercise Period. Subject to Section 2(b) below, the Option shall become exercisable as to
portions of the Shares as follows: (i) the Option shall not be exercisable with respect to any of the Shares until the first anniversary of the Effective Date (the “First Vesting Date”); (ii) on the First Vesting Date the
Option shall become exercisable as to              percent ( %) of the shares; and (iii) thereafter, upon each of
             successive anniversaries of the First Vesting Date (such anniversaries and the First Vesting Dare are collectively referred to as the “Vesting Dates”),
the option shall become exercisable as to an additional              percent (            %) of the shares 

b. Expiration. The Option shall expire on the earlier of (a) the date ninety (90) days from the date that
Optionee no longer is a director of the Company or any of its subsidiaries for any reason, including without limitation, due to death or disability, or (b) the tenth anniversary of the Effective Date (“Expiration Date”) and
vested options to purchase Shares hereunder must be exercised, if at all, on or before the Expiration Date. 
 c.
Lapse Upon Expiration. To the extent that this Option is not exercised prior to the Expiration Date set forth in Section 2(b),, all rights of Optionee under this Option shall thereupon be forfeited. 

 3. Manner of Exercise. 

a. General. The Option may be exercised only by Optionee (or other proper party in the event of death or
incapacity), subject to the conditions of the Plan and this Agreement, and subject to such other administrative rules as the Administrator deems advisable, by delivering written notice of exercise to the Company at its principal office, in the form
attached hereto as Exhibit A. The notice shall state the number of Shares exercised and shall be accompanied by payment in full of the Option price for all Shares exercised pursuant to the notice. Any exercise of the Option shall be effective upon
receipt of such notice by the Company, together with payment that complies with the terms of the Plan and this Agreement. The Option may be exercised with respect to any number or all of the shares as to which it can then be exercised and, if
partially exercised, may be so exercised as to the unexercised shares at any time and from time to time prior to expiration of the Option as provided in this Agreement. 

b. Form of Payment. Subject to approval by the Administrator, payment of the Option price by Optionee shall be in
the form of cash, personal check, certified check, or where permitted by law and provided that a public market for the Company’s stock exists: (i) through a “same day sale” commitment from Optionee and a broker-dealer that is a
member of the Financial Industry Regulatory Authority, Inc. (a “FINRA Dealer”) whereby Optionee irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the exercise price, and whereby
the NASD Dealer irrevocably commits upon receipt of such Shares to forward the exercise price directly to the Company; (ii) through a “margin” commitment from Optionee and a FINRA Dealer whereby Optionee irrevocably elects to exercise
the Option and to pledge the Shares so purchased to the FINRA Dealer in a margin account as security for a loan from the FINRA Dealer in the amount of the exercise price, and whereby the FINRA Dealer irrevocably commits upon receipt of such Shares
to forward the exercise price directly to the Company. Optionee shall be solely responsible for any income or other tax consequences from any payment for Shares with Optionee’s Common Stock of the Company. 

c. Stock Transfer Records. Provided that the notice of exercise and payment are in form and substance satisfactory
to counsel for the Company, as soon as practicable after the effective exercise of all or any part of the Option, Optionee shall be recorded on the stock transfer books of the Company as the owner of the Shares purchased, and the Company shall
deliver to Optionee, or to the FINRA Dealer, as the case may be, one or more duly issued stock certificates evidencing such ownership. All requisite original issue or transfer documentary stamp taxes shall be paid by the Company. Optionee shall pay
all other costs of the Company incurred to issue such Shares to such FINRA Dealer. 
 Shares purchased pursuant to exercise
hereunder: (i) may be deposited with a FINRA Dealer designated by Optionee, in street name, if so provided in such exercise notice accompanied by all applications and forms reasonably required by the Administrator to effect such deposit, or
(ii) may be issued to Optionee and such other person, as joint owners with the right of survivorship, as is specifically described in such exercise notice. Optionee shall be solely responsible for any income or other tax consequences of such a
designation of ownership hereunder (or the severance thereof). 
 4. Miscellaneous. 

a. Rights as Shareholder. Optionee shall have no rights as a shareholder with respect to Shares subject to this
Option until such Shares are issued to Optionee upon the exercise of this Option. No adjustment shall be made for dividends (ordinary or extra-ordinary, whether in cash, securities or other property), distributions or other rights for which the
record date is prior to the date such shares are issued, except as provided in Section 14 of the Plan. 
 b.
Securities Law Compliance. The exercise of the Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal and state securities laws and with all
applicable requirements of any securities exchange on which the Company’s Common Stock may be listed at the time of such issuance or transfer. The Company shall not be required to sell or issue any Shares if such issuance would constitute a
violation of any provision of any law or regulation of any governmental authority or self-regulatory organization. 

  
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 c. Mergers, Recapitalization, Stock Splits, Etc. The provisions of
Section 14 and 17 of the Plan, as amended effective as of the date hereof, shall govern the Option in the event of any reorganization, merger, consolidation, recapitalization, reclassification, change in par value, stock split-up, combination
of shares or dividend payable in capital stock, or other such transaction described under Sections 14 and 17 of the Plan, and the Company reserves all discretion provided therein. 

d. Nontransferability. The Option may not be transferred in any manner other than by will or by the laws of descent
and distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Option shall be binding upon the executors, administrators, successors and assigns of Optionee. 

e. 2007 Equity Incentive Plan. The Option evidenced by this Agreement is granted pursuant to the Plan, as amended
as of the Effective Date, a copy of which Plan has been made available to Optionee and is hereby incorporated into this Agreement. This Agreement shall be subject to and in all respects limited and conditioned as provided in the Plan. The Plan
governs this Option and, in the event of any questions as to the construction of this Agreement or in the event of a conflict between the Plan and this Agreement, the Plan shall govern, except as the Plan otherwise provides. 

f. Stock Legend. The Committee may require that the certificates for any Shares purchased by Optionee (or, in the
case of death, Optionee’s successors) bear an appropriate legend to reflect the restrictions of applicable law. 
 g. Interpretation. The Committee shall have the sole discretion to interpret and administer the Plan. Any determination made by the Administrator with respect to any Option shall be final and
binding on the Company and on all persons having an interest in the Option granted under this Agreement and the Plan. 
 h. Entire Option. The Plan, as amended, is incorporated herein by reference. This Agreement and the Plan constitute the entire agreement and understanding of the parties hereto with respect to
the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter. 
 j. Successors and Assigns. The Company may assign any of its rights under the Option. The Option shall be binding upon and inure to the benefit of the successors and assigns of the
Company. Subject to the restrictions on transfer set forth herein, the Option shall be binding upon Optionee and Optionee’s heirs, executors, administrators, legal representatives, successors and assigns. 

l. Governing Law. The Option shall be governed by and construed in accordance with the internal laws of the
State of Delaware, without regard to that body of law pertaining to choice of law or conflict of law. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day
and year first above written. 
  

							
	CECO ENVIRONMENTAL CORP.	 		 	OPTIONEE
				
	By:	 	 	 		 	 
	Its:	 	 	 		 	

  
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 EXHIBIT A 

CECO ENVIRONMENTAL CORP. 
 2007 STOCK OPTION PLAN (the “Plan”) 
 STOCK OPTION EXERCISE
AGREEMENT 
 I hereby elect to purchase the number of shares of Common Stock of CECO ENVIRONMENTAL CORP. (the
“Company”) as set forth below: 
  

							
	Optionee:
                                         
         	  		 	Number of Shares Purchased:	  	 
	Social Security Number:
                        	  		 	Purchase Price per Share:	  	 
	Address:
                                         
         	  		 	Aggregate Purchase Price:	  	 
	_________________________________	  		 	Date of Option Agreement:	  	 
	Type of Option: [    ] Incentive Stock Option	 	Exact Name of Title to Shares:	  	 
	
                        
    [    ] Nonqualified Stock Option
	 	 	  	

 1. Delivery of Purchase Price. Optionee hereby delivers to the Company the Aggregate Purchase Price, to the
extent permitted in the Option Agreement (the “Option Agreement”), as follows (check as applicable and complete): 
  

	 ̈	in cash (by check) in the amount of $            , receipt of which is acknowledged by the Company;

 If the Committee allowed payment by other means in the Stock Option Agreement, add one or more of the
following, as applicable: 
  

	 ̈	by delivery of              fully-paid, nonassessable and vested shares of the Common Stock of the
Company owned by Optionee for at least six (6) months prior to the date hereof (and which have been paid for within the meaning of SEC Rule 144), or obtained by Optionee in the open public market, and owned free and clear of all liens, claims,
encumbrances or security interests, valued at the current Fair Market Value of $             per share; 

 

	 ̈	through a “same-day-sale” commitment, delivered herewith, from Optionee and the NASD Dealer named therein, in the amount of
$            ; or 

  

	 ̈	through a “margin” commitment, delivered herewith from Optionee and the NASD Dealer named therein, in the amount of
$            . 

 2. Market Standoff Agreement.
Optionee, if requested by the Company and an underwriter of Common Stock (or other securities) of the Company, agrees not to sell or otherwise transfer or dispose of any Common Stock (or other securities) of the Company held by Optionee during the
period requested by the managing underwriter following the effective date of a registration statement of the Company filed under the Securities Act, provided that all officers and directors of the Company are required to enter into similar
agreements. Such agreement shall be in writing in a form satisfactory to the Company and such underwriter. The Company may impose stop-transfer instructions with respect to the shares (or other securities) subject to the foregoing restriction until
the end of such period. 
 3. Tax Consequences. OPTIONEE UNDERSTANDS THAT OPTIONEE MAY SUFFER ADVERSE TAX CONSEQUENCES AS A RESULT OF
OPTIONEE’S PURCHASE OR DISPOSITION OF THE SHARES. OPTIONEE REPRESENTS THAT OPTIONEE HAS CONSULTED WITH ANY TAX CONSULTANT(S) OPTIONEE DEEMS ADVISABLE IN CONNECTION WITH THE PURCHASE OR DISPOSITION OF THE SHARES AND THAT OPTIONEE IS NOT RELYING
ON THE COMPANY FOR ANY TAX ADVICE. 
 4. Entire Agreement. The Plan and Option Agreement are incorporated herein by reference. This
Exercise Agreement, the Plan and the Option Agreement constitute the entire agreement and understanding of the parties and supersede in their entirety all prior understandings and agreements of the Company and Optionee with respect to the subject
matter hereof, and are governed by Delaware law except for that body of law pertaining to choice of law or conflict of law. 
  

									
	Date:	 	 	 		 		 	 
		 		 		 		 	Signature of Optionee

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