Method of Payment Clause Example with 177 Variations from Business Contracts
This page contains Method of Payment clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Method of Payment. Payment of the exercise price, and any required payment associated with the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant Notice, which may include one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided that at the time... of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations.View More
Variations of a "Method of Payment" Clause from Business Contracts
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth shares you wish to exercise. The exercise price is payable in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. United States dollars. You may elect to make payment of pay the exercise price in cash or by check check, bank draft or in any other manner permitted by your Grant Notice, which ma...y include one money order payable to the Company or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the United States Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this proceeds. This manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. cover". View More
Method of Payment. Payment of the applicable exercise price, and any required payment associated with the Company's withholding obligations as set forth in the Plan and Section 11 below, are price is due in full upon exercise of all or any part of your option. All amounts due are payable in United States dollars based, if applicable, upon the local currency to United States dollar exchange rate published in the West Coast edition of The Wall Street Journal on the date of exercise of your option (or, if the date of... exercise is not a business day in the United States, the preceding business day in the United States). You may not exercise your option, and no obligation shall arise upon the Company to procure the issue or transfer of the Ordinary Shares, unless and until the Company and/or any Affiliate are satisfied in their absolute discretion that you have fully paid up in cash (or by check) the nominal value of each Ordinary Share subject to the exercised portion of the option. You may elect to make payment of the remaining portion of the option exercise price in cash or by check remittance for the amount payable or in any other manner permitted by your Grant Notice, which may include one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided a. Provided that at the time of exercise the Common Stock is Ordinary Shares are publicly traded and quoted regularly in The Wall Street Journal, a source the Board deems reliable, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, Ordinary Shares, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject proceeds. b. Subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued Ordinary Shares issuable upon exercise of your option by the largest whole number of shares Ordinary Shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay price; provided, however, that: 1) the Company shall accept a cash or other payment from you to the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the "net exercise" in cash or other permitted form number of payment. whole Ordinary Shares of Common Stock to be issued; 2) Ordinary Shares will no longer be outstanding under your option subject to an Option and will not be exercisable thereafter if those shares (i) to the extent that (A) Ordinary Shares issuable upon exercise are used reduced to pay the exercise price pursuant to the "net exercise," (ii) (B) Ordinary Shares are delivered to you as a result of such exercise, and (iii) (C) Ordinary Shares are withheld to satisfy your tax withholding obligations. View More
Method of Payment. Payment of the applicable exercise price, and any required payment associated with the Company's withholding obligations as set forth in the Plan and Section 11 below, are price is due in full upon exercise of all or any part of your option. All amounts due are payable in United States dollars based, if applicable, upon the local currency to United States dollar exchange rate published in the West Coast edition of The Wall Street Journal on the date of exercise of your option (or, if the date of... exercise is not a business day in the United States, the preceding business day in the United States). You may not exercise your option, and no obligation shall arise upon the Company to procure the issue or transfer of the Ordinary Shares, unless and until the Company and/or any Affiliate are satisfied in their absolute discretion that you have fully paid up in cash (or by check) the nominal value of each Ordinary Share subject to the exercised portion of the option. You may elect to make payment of the remaining portion of the option exercise price in cash or by check remittance for the amount payable or in any other manner permitted by your Grant Notice, which may include one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided a. Provided that at the time of exercise the Common Stock is Ordinary Shares are publicly traded and quoted regularly in The Wall Street Journal, a source the Board deems reliable, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, Ordinary Shares, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) proceeds. b. If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued Ordinary Shares issuable upon exercise of your option by the largest whole number of shares Ordinary Shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay price; provided, however, that: 1) the Company shall accept a cash or other payment from you to the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the "net exercise" in cash or other permitted form number of payment. whole Ordinary Shares of Common Stock to be issued; 2) Ordinary Shares will no longer be outstanding under your option subject to an Option and will not be exercisable thereafter if those shares (i) to the extent that (A) Ordinary Shares issuable upon exercise are used reduced to pay the exercise price pursuant to the "net exercise," (ii) (B) Ordinary Shares are delivered to you as a result of such exercise, and (iii) (C) Ordinary Shares are withheld to satisfy your tax withholding obligations. View More
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. Ordinary Shares you wish to exercise. You may elect to make payment of pay the exercise price in cash or by check check, bank draft or money order payable to the Company (subject to Section 4) or in any other manner permitted by your Grant... Notice, which may include one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided Provided that at the time of exercise the Common Stock is Ordinary Shares are publicly traded and quoted regularly in The Wall Street Journal, traded, pursuant to a program developed under Regulation T as promulgated by the U.S. Federal Reserve Board that, prior to the issuance of Common Stock, Ordinary Shares, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this proceeds. This manner of payment is also known as a "broker-assisted exercise", exercise," "same day sale", sale," or "sell to cover"); or cover." 732770 v9/SD (b) Provided that at the time of exercise the Common Stock is Ordinary Shares are publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock Ordinary Shares that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock Ordinary Shares in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock Ordinary Shares if doing so would violate the provisions of any law, regulation or agreement applicable to the or restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. Ordinary Shares. View More
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. Ordinary Shares you wish to exercise. You may elect to make payment of pay the exercise price in cash or by check check, bank draft or money order payable to the Company (subject to Section 5) or in any other manner permitted by your Grant... Notice, which may include one or more of the following: following manners: (a) In the Company's sole discretion at the time your option is exercised and provided Provided that at the time of exercise the Common Stock is Ordinary Shares are publicly traded and quoted regularly in The Wall Street Journal, traded, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, Ordinary Shares, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this proceeds. This manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or cover". (b) Provided that at the time of exercise the Common Stock is Ordinary Shares are publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock Ordinary Shares that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock Ordinary Shares in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock Ordinary Shares if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. Ordinary Shares. View More
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. shares you wish to exercise. You may elect to make payment of pay the exercise price in cash or by check check, bank draft or money order payable to the Company or in any other manner permitted by your Grant Notice, which may include one o...r more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant a. Pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this proceeds. This manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. cover". View More
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. shares you wish to exercise. You may elect to make payment of pay the exercise price in cash or by check check, bank draft or in any other manner money order payable to the Company or, if permitted by your Grant Notice, which may include o...ne or more of the following: (a) In the Company's sole discretion at the time your option is exercised Notice and provided that if at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, traded, then pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this proceeds. This manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. cover". View More
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. shares you wish to exercise. You may elect to make payment of pay the exercise price in cash or by check check, bank draft or money order payable to the Company or in any other manner permitted by your Grant Notice, which may include one o...r more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided a. Provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, traded, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this proceeds. This manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. cover". View More
Method of Payment. Payment of the exercise price, and any required payment associated with the Company's withholding obligations as set forth in the Plan and Section 11 below, are price is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant Notice, which may include through the cancellation of indebtedness for services rendered to the Company, or pursuant to one or more of the following:...following methods: (a) In the Company's sole discretion at the time your option is exercised and provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant Pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or proceeds. (b) Provided that at the time of exercise the Common Stock is publicly traded, by By delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock either that you have held for the period required to avoid a charge to the Company's reported earnings (generally six months) or that you did not acquire, directly or indirectly from the Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value fair market value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will shall include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You Notwithstanding the foregoing, you may not exercise your option by delivery tender to the Company of Common Stock if doing so to the extent such tender would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. 3 (c) If this option is a Nonstatutory By cashless exercise where you will receive upon such exercise the "Net Number" of shares of the Company's Common Stock Option, subject determined according to the consent following formula: Net Number = (A x B) - (A x C) B For purposes of the Company foregoing formula: A = the total number of shares with respect to which this Option is then being exercised. B = the closing sale price of the Company's Common Stock on the trading day immediately preceding the date of the Exercise Notice. C = the Exercise Price then in effect for the Option at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. exercise. View More
Method of Payment. Payment You must pay the full amount of the exercise price, and any required payment associated with price for the Company's withholding obligations as set forth in the Plan and Section 11 below, are due in full upon exercise of all or any part of your option. shares you wish to exercise. You may elect to make payment of pay the exercise price in cash or by check check, bank draft, wire transfer or money order payable to the Company or in any other manner permitted by your Stock Option Grant Not...ice, which may include one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and include, provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, traded, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds (this manner of payment is also known as a "broker-assisted exercise", "same day sale", or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company's stock. (c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the "net exercise" in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. cover"). View More
