Method of Payment Clause Example from Business Contracts

Method of Payment. Payment of the aggregate Exercise Price will be by any of the following, or a combination thereof, at the election of Participant unless otherwise specified by the Company in its sole discretion: (a) cash (U.S. dollars); or (b) check (denominated in U.S. dollars); or (c) consideration received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or (d) if Participant is subject to Section 16 of the Exchange Act, Participant may direct the Co...mpany to withhold Shares to be issued upon exercise of the Option to pay the aggregate Exercise Price and any such disposition of Shares to the Company shall be exempt from Section 16(b) of the Exchange Act pursuant to Rule 16b-3(e). Participant understands and agrees that, unless otherwise permitted by the Company, any cross-border remittance made to exercise this Option or transfer proceeds received upon the sale of Shares must be made through a locally authorized financial institution or registered foreign exchange agency and may require Participant to provide such entity with certain information regarding the transaction. View More