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

Period of Option and Conditions of Exercise. 3.1 The Option Agreement shall commence on the Date of Grant and terminate 10 (ten) years thereafter, as specified in Exhibit B hereto, or at such time on which the Option expires pursuant to the terms of the Plan or this Option Agreement, unless determined otherwise by the Board of Directors of the Company (the "Expiration Date"). 3.2 The Option may be exercised only to purchase whole Shares, and in no case may a fraction of a Share be purchased. If any fractional Share would be deliverable upon exercise, such fraction shall be rounded up one-half or less, or otherwise rounded down, to the nearest whole number.