All or any part of the Option may be exercised by the Optionee no later than the eighth (8th) anniversary of the date of this Agreement.

承授者行使部分或全部的期 权， 须在本协议生效日的第八个周年日之前完成。

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The Optionee shall have no rights as a stockholder with respect to Shares subject to the Option until certificates for Shares of Common Stock are issued to the Optionee.

在普通股股票证书颁发给承授者之前， 承授者对期权项下股票没有任何股东权利。

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