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, check or promissory note; (b) consideration received by the Company under a formal cashless exercise program adopted by the Company; or (c) surrender of other Shares which, (i) in the case of Shares acquired from the Company, either directly or indirectly, have been owned by the Optionee for more than six (6) months on the date of surrender, and (ii) have... a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the Exercised Shares. View More