Common use of Period of Option and Conditions of Exercise Clause in Contracts

Period of Option and Conditions of Exercise. 2.1 The term of the Option shall commence on 19 May 1997 ("Date of Grant") and shall terminate as of 18 May 2000 ("Expiration Date"). Upon termination of the Option, all rights of the Optionee hereunder shall cease. Optionee understands and agrees that the Option granted to him is intended to comply with the provisions of Rule 16b-3 under the Securities Exchange Act of 1934, as amended, and is subject to the express terms thereof and the interpretations of the Securities and Exchange Commission thereunder. 2.2 The Option Shares shall immediately vest. 2.3 The Option may be exercised only to purchase whole Shares, and in no case may a fraction of a Share be purchased. The right of the Optionee to purchase Option Shares may be exercised in whole at any time or in part from time to time, provided that no partial exercise of the Option for less than ten (10) Option Shares will be permissible.