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 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 one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided followi...ng forms: (a)In cash or by check; (b)Provided that at the time of exercise the Common Stock is publicly traded on a nationally recognized stock exchange, and quoted regularly subject to such procedures as the Administrator may adopt, in The Wall Street Journal, pursuant to cash by 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 broker-dealer acceptable to the Company from the sales proceeds (this manner to whom you have submitted an irrevocable notice of payment is also known as a "broker-assisted exercise", "same day sale", exercise; or "sell to cover"); or (b) Provided that at the time of exercise the Common Stock is publicly traded, 1 US_ACTIVE-100043006.1 (c) (i) 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 fair market value on the date of exercise. exercise (as determined under the Plan), or (ii) a reduction in the number of shares of Common Stock otherwise deliverable to you (valued at their fair market value on the exercise date, as determined under the Plan) pursuant to the exercise of the option. "Delivery" for these purposes, purposes and for purposes of any Required Tax Payments, in the sole discretion of the Company at the time you exercise your option, will option is exercised, 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, your option may not exercise your option be exercised by delivery tender to the Company of Common Stock if doing so to the extent such tender would violate constitute a violation of 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
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 the Option. The Optionee 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: following ways: (a) Cash or by check. (b) In the Company's sole discr...etion at the time your option the 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, 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 proceeds. (c) In the Company's sole discretion at the time the Option is exercised, delivery by Optionee of a promissory note in a form satisfactory to the Company, in the amount of the aggregate exercise price of the exercised Shares together with the execution and delivery by the Optionee of a security agreement in a form satisfactory to the Company. The promissory note shall bear interest at a rate at least equal to the "applicable federal rate" prescribed under the Code and its regulations at time of purchase, and shall be secured by a pledge of the Shares purchased by the promissory note pursuant to the security agreement. At any time that the Company is incorporated in Delaware, payment is also known of the Common Stock's "par value," as a "broker-assisted exercise", "same day sale", or "sell defined in the Delaware General Corporation Law, shall be made in cash and not by deferred payment. Notwithstanding the foregoing, payment by promissory note shall not be permitted to cover"); or (b) the extent such payment would violate the Sarbanes-Oxley Act of 2002. (d) 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 either that Optionee has held for the period required to avoid a charge to the Company's reported earnings (generally six (6) months) or that Optionee 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 on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will the Optionee exercises the Option, shall include delivery to the Company of your Optionee's attestation of ownership of such shares of Common Stock in a form approved by the Company. You Notwithstanding the foregoing, Optionee may not exercise your option the 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. (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
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 purchase. 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 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 By a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Common Stock Shares issued upon exercise of your option by the largest whole number of shares 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 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 or (iii) are withheld to satisfy your tax withholding obligations. 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 one or more of the following: following forms: (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 cash or 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 check; (b) Provided that at the time of exercise the Common Stock is publicly traded, traded on a nationally recognized stock exchange, and as may be permitted by the Company in its sole discretion and subject to such procedures as the Administrator may adopt, pursuant to a "cashless exercise" with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards; or 1 (c) As permitted by the Company in its sole discretion, (i) 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 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. exercise (as determined under the Plan), or (ii) a reduction in the number of shares of Common Stock otherwise deliverable to you (valued at their fair market value on the exercise date, as determined under the Plan) pursuant to the exercise of the option. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will option is exercised, 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, your option may not exercise your option be exercised by delivery tender to the Company of Common Stock if doing so to the extent such tender would violate constitute a violation of 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
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, the Company, which may include one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and pro...vided that By Regulation T Program. If 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 (i) the receipt of cash (or check) by the Company or (ii) 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 By Exchange. If at the time of exercise the Common Stock is publicly traded, traded and quoted regularly in The Wall Street Journal, 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 on the date of exercise. "Delivery" for these purposes, in the sole discretion of the Company at the time you exercise your option, will purposes 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 The use of this method of payment requires the Company's prior approval. 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. (c) If this option is By Cashless Exercise. By delivery of a Nonstatutory request to convert an option, in whole or in part, into that number of shares of Common Stock Option, subject equal to the consent quotient obtained by dividing [(A - B)(X)] by (A), where: A= the Fair Market Value of one share of Common Stock on the date of exercise of the Company at option; B = the time exercise price for one share of exercise, by a "net exercise" arrangement pursuant to which Common Stock under the Company will reduce option; and X = the number of shares of Common Stock issued upon being surrendered pursuant to an executed notice of exercise of your option (in a form designated by the largest whole number Company). If the above calculation results in a negative number, then no shares of shares with a Fair Market Value Common Stock shall be issued or issuable upon conversion of the option. The use of this method of payment requires the Company's prior approval. (d) By Deferred Payment. Pursuant to the following deferred payment alternative; provided, however, that does not exceed the aggregate exercise price. You must pay any remaining balance use of this method of payment requires the Company's prior approval: (i) Not less than one hundred percent (100%) of the aggregate exercise price not satisfied by price, plus accrued interest, shall be due four (4) years from date of exercise or, at the "net exercise" Company's election, upon termination of your Continuous Service. (ii) Interest shall be compounded at least annually and shall be charged at the market rate of interest necessary to avoid a charge to earnings for financial accounting purposes. (iii) At any time that the Company is incorporated in Delaware or any other state with a similar par value payment requirement, payment of the Common Stock's "par value," as defined in the Delaware General Corporation Law, shall be made in cash or other permitted form and not by deferred payment. (iv) In order to elect the deferred payment alternative, you must, as a part of payment. Shares your written notice of exercise, give notice of the election of this payment alternative and, in order to secure the payment of the deferred exercise price to the Company hereunder, if the Company so requests, you must tender to the Company a promissory note and a security agreement covering the purchased shares of Common Stock will no longer be outstanding under your option Stock, both in form and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant substance satisfactory to the "net exercise," (ii) are delivered to you Company, or such other or additional documentation as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. the Company may request. 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 one or more of the following: following forms: (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 cash or 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 check; (b) Provided that at the time of exercise the Common Stock is publicly traded, traded on a nationally recognized stock exchange, and subject to such procedures as the Administrator may adopt, in cash by delivery a broker-dealer acceptable to the Company (either to whom you have submitted an irrevocable notice of exercise; or 1 (c) (i) 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 fair market value on the date of exercise. exercise (as determined under the Plan), or (ii) a reduction in the number of shares of Common Stock otherwise deliverable to you (valued at their fair market value on the exercise date, as determined under the Plan) pursuant to the exercise of the option. "Delivery" for these purposes, purposes and for purposes of any Required Tax Payments, in the sole discretion of the Company at the time you exercise your option, will option is exercised, 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, your option may not exercise your option be exercised by delivery tender to the Company of Common Stock if doing so to the extent such tender would violate constitute a violation of 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
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 one or more of the following: following forms: (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 cash or 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 check; (b) Provided that at the time of exercise the Common Stock is publicly traded, traded on a nationally recognized stock exchange, and subject to such procedures as the Administrator may adopt, in cash by delivery a broker-dealer acceptable to the Company (either to whom you have submitted an irrevocable notice of exercise; or 2 (c) (i) 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 fair market value on the date of exercise. exercise (as determined under the Plan), or (ii) a reduction in the number of shares of Common Stock otherwise deliverable to you (valued at their fair market value on the exercise date, as determined under the Plan) pursuant to the exercise of the option. "Delivery" for these purposes, purposes and for purposes of any Required Tax Payments, in the sole discretion of the Company at the time you exercise your option, will option is exercised, 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, your option may not exercise your option be exercised by delivery tender to the Company of Common Stock if doing so to the extent such tender would violate constitute a violation of 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
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 one or more of the following: (a) In the Company's sole discretion at the time your option is exercised and provided a. Prov...ided 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) proceeds. b. Provided that at the time of exercise the Common Stock is publicly traded, traded and quoted regularly in The Wall Street Journal, 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 Notwithstanding the sole discretion of the Company at the time foregoing, 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 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. (c) If this option is a Nonstatutory Stock Option, subject c. Pursuant 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 following deferred payment alternative: 1) Not less than one hundred percent (100%) of the aggregate exercise price, plus accrued interest, shall be due four (4) years from date of exercise or, at the Company's election, upon termination of your Continuous Service. 2) Interest shall be compounded at least annually and shall be charged at the minimum rate of interest necessary to avoid (1) the treatment as interest, under any applicable provisions of the Code, of any amounts other than amounts stated to be interest under the deferred payment arrangement and (2) the classification of your option as a liability for financial accounting purposes. 3) In order to elect the deferred payment alternative, you must, as a part of your written notice of exercise, give notice of the election of this payment alternative and, in order to secure the payment of the deferred exercise price not satisfied by to the "net exercise" in cash or other permitted form of payment. Shares Company hereunder, if the Company so requests, you must tender to the Company a promissory note and a pledge agreement covering the purchased shares of Common Stock will no longer be outstanding under your option Stock, both in form and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant substance satisfactory to the "net exercise," (ii) are delivered to you Company, or such other or additional documentation as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. the Company may request. 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 one or more of the following: following methods: (a) In the Company's sole discretion at the time your option is exercised a...nd 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 By cash, check, bank draft or money order payable 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) Company. (c) 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 shall 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 Notwithstanding the foregoing, you may not exercise your option by delivery tender to the Company of Common Stock if doing so Ordinary Shares to the extent such tender 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 (d) 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 Ordinary Shares 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 price; provided, however, that 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 shares to be issued; provided further, however, that Ordinary Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those to the extent that (1) shares (i) are used to pay the exercise price pursuant to the "net exercise," (ii) (2) shares are delivered to you as a result of such exercise, and (iii) (3) shares are withheld to satisfy your tax withholding obligations. View More
