Stock Option Exercise and Loan Agreement between Donald Stevens and Pall Corporation

Summary

This agreement documents Donald Stevens' exercise of his option to purchase 9,052 shares of Pall Corporation common stock at $22.09 per share under the company's 1998 Stock Option Plan. Stevens provides a partial payment of $68,568.90 and receives a good faith loan from Pall Corporation for up to 50% of the shares' market value to cover the remaining purchase price. The agreement outlines the payment method and the use of a loan to facilitate the stock purchase.

EX-10.5 6 y75143exv10w5.htm EX-10.5: LOAN AGREEMENT EX-10.5

Exhibit 10.5

Note: Certain information has been omitted from this exhibit and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. The locations of these omissions are indicated in the exhibit by the following markings: [**].

Pall Corporation
2200 Northern Blvd
East Hills, NY 11548

Attn: Mary Ann Bartlett

Dear Ms. Bartlett:

I am the holder of an option, granted on March 19, 2001 pursuant to the Company’s 1998 Stock Option Plan, to purchase 9052 shares of the Company’s common stock at a price of $22.09.

Please take notice that I hereby exercise my option to purchase 9052 of such shares. I enclose my check in the amount of $68,568.90 as partial payment of the shares hereby, which amount is computed as follows:


Number of shares		9052
Option price per share	$	22.09
Total purchase price	$	199,958.68
Market value at close of previous day 5/25/05	$	29.03
Total Market Value	$	262,779.55
Good faith loan value	$	131,389.78
(not to exceed 50% of the market value)
Balanced paid herewith		68,568.90


	Donald Stevens
	EMPLOYEE


	/s/ DONALD STEVENS
	Employee Signature
	ADDRESS [**]

Social Security# [**]