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

Period of Option and Conditions of Exercise. (a) The Option shall be deemed to have been granted on the date hereof (the "Date of Grant") and, unless the Option is previously terminated pursuant to this Option Agreement, the Option shall terminate upon the expiration of ten years from the date hereof (the "Expiration Date"). Upon the termination of the Option, all rights of the Optionee hereunder shall cease. (b) Subject to the provisions of the Plan and this Option Agreement, the Option shall become exercisable as to all of the Option Shares on the date which is six months after the date hereof.