Method of Payment Clause Example from Business Contracts

Method of Payment. — Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: (a) cash or check; (b) consideration received by the Company under a cashless exercise program implemented by the Company; or (c) surrender of other Shares, provided such Shares were acquired directly from the Company, (i) have been owned by the Optionee for more than twelve (12) months on the date of surrender, and (ii) have a Fair Market Value on the date of su...rrender equal to the aggregate Exercise Price of the Exercised Shares. View More