No Fractional Shares Clause Example with 4 Variations from Business Contracts
This page contains No Fractional Shares 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.
No Fractional Shares. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock shall be issued. 2 7. Manner of Exercise. Subject to such administrative regulations as the Committee may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee (the "Exercise Notice") setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised, the date of exercise thereof (the "Exercise Date"...), and whether the Optioned Shares to be exercised will be considered as deemed granted under an Incentive Stock Option as provided in Section 11. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, or money order payable to the order of the Company, (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions from the Participant to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price, and/or (d) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions and provisions as the Restricted Stock so tendered. Upon payment of all amounts due from the Participant, the Company shall cause the Common Stock then being purchased to be registered in the Participant's name (or the person exercising the Participant's Stock Option in the event of his death), but shall not issue certificates for such Common Stock unless the Participant or such other person requests delivery of certificates for such Common Stock in accordance with Section 8.3(c) of the Plan. The obligation of the Company to register shares of Common Stock shall, however, be subject to the condition that, if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee. If the Participant fails to pay for any of the Optioned Shares specified in such notice within three (3) business days of the date in the Exercise Notice or fails to accept delivery thereof, then the Exercise Notice shall be null and void and the Company will have no obligation to deliver any shares of Common Stock to the Participant in connection with such Exercise Notice.View More
Variations of a "No Fractional Shares" Clause from Business Contracts
No Fractional Shares. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock shall be issued. 2 7. 3 6. Manner of Exercise. Subject to Article X of the Israeli Plan and such administrative regulations as the Committee Administrator may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee (the "Exercise Notice") Administrator setting forth the number of shares of Common Stock with respect to which the Stock Option is... to be exercised, the date of exercise thereof (the "Exercise Date"), and whether the Optioned Shares to Date") which shall be exercised will be considered as deemed granted under at least two (2) days after giving such notice unless an Incentive Stock Option as provided in Section 11. earlier time shall have been mutually agreed upon. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, in cash or money order payable to by certified check in the order manner prescribed in Article VI of the Company, (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions from the Participant to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon Israeli Plan. The exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price, and/or (d) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions agreement with the Trustee (as defined below) and provisions as in accordance with Section 102 of the Restricted Stock so tendered. Upon Ordinance. Subject to Article X of the Israeli Plan, upon payment of all amounts due from the Participant, the Company shall cause the Common Stock then being purchased to be registered in the Participant's name (or the person exercising the Participant's Stock Option in the event of his death), but shall not issue certificates for such Common Stock the Participant's death) promptly after the Exercise Date, unless the Participant Participant, or such other person requests person, requests, in writing, delivery of the certificates for such the Common Stock Stock, as provided in the Plan and in accordance with Section 8.3(c) of the Plan. procedures established by the Administrator. The obligation of the Company to register or deliver shares of Common Stock shall, however, be subject to the condition that, that if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee. If Administrator. Subject to Section 8, below, if the Participant fails to pay for any of the Optioned Shares specified in such notice within three (3) business days of the date in the Exercise Notice or fails to accept delivery thereof, then that portion of the Exercise Notice shall Participant's Stock Option and right to purchase such Optioned Shares may be null and void and forfeited by the Company will have no obligation to deliver any shares of Common Stock to the Participant in connection with such Exercise Notice. Participant. View More
No Fractional Shares. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock Common Stock shall be issued. 2 7. 6. Manner of Exercise. Subject to such administrative regulations as the Committee Company may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee (the "Exercise Notice") Company setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised, the date of exerc...ise thereof (the "Exercise Date"), and whether the Optioned Shares to Date") which shall be exercised will be considered as deemed granted under at least three (3) days after giving such notice unless an Incentive Stock Option as provided in Section 11. earlier time shall have been mutually agreed upon. On the Exercise Date, the Participant Optionee shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, or money order payable to the order of the Company, (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) restricted stock) owned by the Participant Optionee on the Exercise Date, valued at its Fair Market Value fair market value on the Exercise Date, and which the Optionee has not acquired from the Company within six (6) months prior to the Exercise Date, (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions from the Participant Optionee to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price, and/or (d) in any other form of valid consideration that is acceptable to the Committee Company in its sole discretion. In the event that shares of Restricted Stock restricted stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock restricted stock used as consideration therefor shall be subject to the same restrictions and provisions as the Restricted Stock restricted stock so tendered. Upon payment of all amounts due from the Participant, Optionee, the Company shall either cause certificates for the Common Stock then being purchased to be delivered to the Optionee (or the person exercising the Optionee's Stock Option in the event of his death) or cause the Common Stock then being purchased to be electronically registered in the Participant's Optionee's name (or the name of the person exercising the Participant's Optionee's Stock Option in the event of his death), but shall not issue certificates for such Common Stock unless promptly after the Participant or such other person requests delivery of certificates for such Common Stock in accordance with Section 8.3(c) of the Plan. Exercise Date. The obligation of the Company to deliver or register such shares of Common Stock shall, however, be subject to the condition that, if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee. Company. If the Participant Optionee fails to pay for any of the Optioned Shares specified in such notice within three (3) business days of the date in the Exercise Notice or fails to accept delivery thereof, then that portion of the Exercise Notice shall Optionee's Stock Option and right to purchase such Optioned Shares may be null and void and forfeited by the Company will have no obligation to deliver any shares of Common Stock to the Participant in connection with such Exercise Notice. Optionee. View More
No Fractional Shares. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock shall be issued. 2 3 7. Manner of Exercise. Subject to such administrative regulations as the Committee may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee (the "Exercise Notice") setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised, the date of exercise thereof (the "Exercise Dat...e"), and whether the Optioned Shares to Date") which shall be exercised will be considered as deemed granted under at least two (2) days after giving such notice unless an Incentive Stock Option as provided in Section 11. earlier time shall have been mutually agreed upon. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, or money order payable to the order of the Company, Company; (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, and which the Participant has not acquired from the Company within six (6) months prior to the Exercise Date; (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to having the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions retain from the Participant to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased otherwise issuable upon exercise of the Stock Option or a number of shares of Common Stock having a value (determined pursuant to pledge such shares as collateral for a loan and promptly deliver rules established by the Company in its discretion) equal to the Company total Option Price of the amount of sale or loan proceeds necessary shares to pay such purchase price, be purchased (a "net exercise"); and/or (d) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions and provisions as the Restricted Stock so tendered. Upon payment of all amounts due from the Participant, the Company shall cause the Common Stock then being purchased to be registered in the Participant's name (or such person as designated in writing by the person exercising personal representative of the Participant's Stock Option estate in the event of his death), but shall not issue certificates for such Common Stock the Participant's death) promptly after the Exercise Date, unless the Participant Participant, or such other person requests person, requests, in writing, delivery of the certificates for such the Common Stock Stock, as provided in the Plan and in accordance with Section 8.3(c) of the Plan. procedures established by the Committee. The obligation of the Company to register or deliver shares of Common Stock shall, however, be subject to the condition that, that if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee. If Subject to Section 8, below, if the Participant fails to pay for any of the Optioned Shares specified in such notice within three (3) business days of the date in the Exercise Notice or fails to accept delivery thereof, then that portion of the Exercise Notice shall Participant's Stock Option and right to purchase such Optioned Shares may be null and void and forfeited by the Company will have no obligation to deliver any shares of Common Stock to the Participant in connection with such Exercise Notice. Participant. View More
No Fractional Shares. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock Stock shall be issued. 2 7. Manner of Exercise. Subject to such administrative regulations as the Committee may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee (the "Exercise Notice") setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised, the date of exercise thereof (the "Exercise...Date"), Date") which shall be at least three (3) days after giving such notice unless an earlier time shall have been mutually agreed upon, and whether the Optioned Shares to be exercised will be considered as deemed granted under an Incentive Stock Option as provided in Section 11. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, or money order payable to the order of the Company, (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, and which the Participant has not acquired from the Company within six (6) months prior to the Exercise Date, (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions from the Participant to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price, and/or (d) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions and provisions as the Restricted Stock so tendered. Upon payment of all amounts due from the Participant, the Company shall cause certificates for the Common Stock then being purchased to be registered in delivered as directed by the Participant's name Participant (or the person exercising the Participant's Stock Option in the event of his death), but shall not issue certificates for such Common Stock unless death) at its principal business office promptly after the Participant or such other person requests delivery of certificates for such Common Stock in accordance with Section 8.3(c) of the Plan. Exercise Date. The obligation of the Company to register deliver shares of Common Stock shall, however, be subject to the condition that, if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee. If the Participant fails to pay for any of the Optioned Shares specified in such notice within three (3) business days of the date in the Exercise Notice or fails to accept delivery thereof, then that portion of the Exercise Notice shall Participant's Stock Option and right to purchase such Optioned Shares may be null and void and forfeited by the Company will have no obligation to deliver any shares of Common Stock to the Participant in connection with such Exercise Notice. Participant. View More
