Common use of TERM AND EXERCISE OF OPTIONS Clause in Contracts

TERM AND EXERCISE OF OPTIONS. (a) Each Converted Option shall be exercisable as to an Optioned Share at any time beginning on the date of this Agreement and ending on the Applicable Expiration Date for such Optioned Share; PROVIDED, HOWEVER, that the Converted Option shall be subject to earlier expiration as provided in section 2(f) hereof.