Option Exercise Price and Consideration Clause Example with 57 Variations from Business Contracts
This page contains Option Exercise Price and Consideration 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.
Option Exercise Price and Consideration. (a) Exercise Price. The per share exercise price for the Shares to be issued upon exercise of an Option shall be such price as is determined by the Administrator, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, at the time of grant of such Option, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the exercise price shall be no less than 110...% of the Fair Market Value per Share on the date of grant. (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, the per Share exercise price shall be determined by the Administrator. (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. (b) Forms of Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). Such consideration may consist of, without limitation, (1) cash, (2) check, (3) promissory note, (4) other Shares, provided Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, (5) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company.View More
Variations of a "Option Exercise Price and Consideration" Clause from Business Contracts
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to the exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of all c...lasses of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. grant; (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. grant; (ii) Except as provided in subsection (iii) below, in the case of a Nonstatutory Stock Option the per Share exercise price shall be such price as is determined by the Administrator, provided that, if the per Share exercise price is less than 100% of the Fair Market Value on the date of grant, it shall otherwise comply with all Applicable Laws, including Section 409A of the Code; 10 (iii) In the case of a Nonstatutory Stock Option (A) that is intended to qualify as performance-based compensation under Section 162(m) of the Code and is granted to any other Service Provider, on or after the date, if ever, on which the Common Stock becomes a Listed Security, the per Share exercise price shall be determined by no less than 100% of the Administrator. (iii) Fair Market Value on the date of grant; and (iv) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, Option and to the extent required by Applicable Laws, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) to the extent permitted under Applicable Laws, delivery of a promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate (subject to the provisions of Section 153 of the Delaware General Corporation Law); (4) cancellation of indebtedness; (5) other Shares, provided previously owned Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised; (6) a Cashless Exercise; (7) such Option shall be exercised, (5) other consideration received by the Company and method of payment permitted under a cashless exercise program implemented by the Company in connection with the Plan, Applicable Laws; or (6) (8) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to the exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) (1) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of a...ll classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. (B) grant; -7- (2) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. grant; (ii) Except as provided in subsection (iii) below, in the case of a Nonstatutory Stock Option the per Share exercise price shall be such price as is determined by the Administrator, provided that, if the per Share exercise price is less than 100% of the Fair Market Value on the date of grant, it shall otherwise comply with all Applicable Laws, including Section 409A of the Code; (iii) In the case of a Nonstatutory Stock Option (A) that is intended to qualify as performance-based compensation under Section 162(m) of the Code and is granted to any other Service Provider, on or after the date, if ever, on which the Common Stock becomes a Listed Security, the per Share exercise price shall be determined by no less than 100% of the Administrator. (iii) Fair Market Value on the date of grant; and (iv) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, Option and to the extent required by Applicable Laws, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) to the extent permitted under Applicable Laws, delivery of a promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate (subject to the provisions of Section 153 of the General Corporation Law); (4) cancellation of indebtedness; (5) other Shares, provided previously owned Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised; (6) a Cashless Exercise; (7) such Option shall be exercised, (5) other consideration received by the Company and method of payment permitted under a cashless exercise program implemented by the Company in connection with the Plan, Applicable Laws; or (6) (8) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share exercise price for the Shares to be issued upon pursuant to exercise of an Option shall be such price as is determined by the Administrator, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted (A)granted to an Employee who, at the time of grant of such Option, the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Pare...nt or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. (B) granted (B)granted to any Employee other Employee, than an Employee described in paragraph (A) immediately above, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, Option, the per Share exercise price shall be determined by no less than 100% of the Administrator. Fair Market Value per Share on the date of grant. (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other of less than as required above 100% of the Fair Market Value per Share on the date of grant pursuant to a merger or other corporate transaction. (b) Forms Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator shall fix the period within which the Option may be exercised and shall determine any con-ditions that must be satisfied before the Option may be exercised. (c) Form of Consideration. The Administrator shall determine the acceptable form of consideration to be paid for the Shares to be issued upon exercise of exercising an Option, including the method of payment, shall be determined by the Administrator (and, in payment. In the case of an Incentive Stock Option, the Administrator shall be determined determine the acceptable form of consideration at the time of grant). grant. Such consideration may consist of, without limitation, (1) cash, (2) check, (3) entirely of: (i) cash; (ii) check; (iii) promissory note, (4) note; (iv) other Shares, provided Shares which (A) in the case of Shares acquired directly from the Company (x) upon exercise of an option, have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such said Option shall be exercised, (5) exercised; (v) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, Plan; (vi) a reduction in the amount of any Company liability to the Optionee, including any liability attributable to the Optionee's participation in any Company-sponsored deferred compensation program or (6) arrangement; (vii) any combination of the foregoing methods of payment. In making its determination as payment; or (viii) such other consideration and method of payment for the issuance of Shares to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. extent permitted by Applicable Laws. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of all class...es of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. grant; or (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. 7 (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, Option, the per Share exercise price shall be determined by no less than 100% of the Administrator. (iii) Notwithstanding the foregoing, Options may be granted with a Fair Market Value per Share exercise price other than as required above pursuant to a merger or other corporate transaction. on the date of grant. (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) delivery of Optionee's promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate (subject to applicable provisions of Delaware law); (4) cancellation of indebtedness; (5) other Shares, provided Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised, provided that in the case of Shares acquired, directly or indirectly, from the Company, such Option shall Shares must have been owned by the Optionee for more than six (6) months on the date of surrender (or such other period as may be exercised, (5) consideration received required to avoid the Company's incurring an adverse accounting charge); (6) delivery of a properly executed exercise notice together with such other documentation as the Administrator and a securities broker approved by the Company under a cashless shall require to effect exercise program implemented by of the Option and prompt delivery to the Company in connection with of the Plan, sale or (6) loan proceeds required to pay the exercise price and any applicable withholding taxes; or (7) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of all class...es of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. grant; or 6 (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, Option, the per Share exercise price shall be determined by no less than 100% of the Administrator. (iii) Notwithstanding the foregoing, Options may be granted with a Fair Market Value per Share exercise price other than as required above pursuant to a merger or other corporate transaction. on the date of grant. (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) delivery of Optionee's promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate (subject to applicable provisions of Delaware law); (4) cancellation of indebtedness; (5) other Shares, provided Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised, provided that in the case of Shares acquired, directly or indirectly, from the Company, such Option shall Shares must have been owned by the Optionee for more than six (6) months on the date of surrender (or such other period as may be exercised, (5) consideration received required to avoid the Company's incurring an adverse accounting charge); (6) delivery of a properly executed exercise notice together with such other documentation as the Administrator and a securities broker approved by the Company under a cashless shall require to effect exercise program implemented by of the Option and prompt delivery to the Company in connection with of the Plan, sale or (6) loan proceeds required to pay the exercise price and any applicable withholding taxes; or (7) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of all class...es of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. grant; or -6- (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, Option, the per Share exercise price share Exercise Price shall be such price as determined by the Administrator. Administrator provided that for any Nonstatutory Stock Option granted on any date on which the Common Stock is a Listed Security to an eligible person who is, at the time of the grant of such Option, a Named Executive of the Company, the per share Exercise Price shall be no less than 100% of the Fair Market Value on the date of grant if such Option is intended to qualify as performance-based compensation under Section 162(m) of the Code. (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. Corporate Transaction. (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) delivery of Optionee's promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate (subject to applicable provisions of Delaware law); (4) cancellation of indebtedness; (5) other Shares, provided Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised, provided that in the case of Shares acquired, directly or indirectly, from the Company, such Option shall Shares must have been owned by the Optionee for more than six months on the date of surrender (or such other period as may be exercised, (5) consideration received required to avoid the Company's incurring an adverse accounting charge); (6) delivery of a properly executed exercise notice together with such other documentation as the Administrator and a securities broker approved by the Company under a cashless shall require to effect exercise program implemented by of the Option and prompt delivery to the Company in connection with of the Plan, sale or (6) loan proceeds required to pay the exercise price and any applicable withholding taxes; or (7) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to the exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of all c...lasses of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. grant; (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. grant; (ii) Except as provided in subsection (iii) below, in the case of a Nonstatutory Stock Option the per Share exercise price shall be such price as is determined by the Administrator, provided that, if the per Share exercise price is less than 100% of the Fair Market Value on the date of grant, it shall otherwise comply with all Applicable Laws, including Section 409A of the Code; (iii) In the case of a Nonstatutory Stock Option (A) that is intended to qualify as performance-based compensation under Section 162(m) of the Code and is granted to any other Service Provider, on or after the date, if ever, on which a share of Common Stock becomes a Listed Security, the per Share exercise price shall be determined by no less than 100% of the Administrator. (iii) Fair Market Value on the date of grant; and (iv) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, Option and to the extent required by Applicable Laws, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) to the extent permitted under Applicable Laws, delivery of a promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate; (4) cancellation of indebtedness; (5) other Shares, provided previously owned Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised; (6) a Cashless Exercise; (7) such Option shall be exercised, (5) other consideration received by the Company and method of payment permitted under a cashless exercise program implemented by the Company in connection with the Plan, Applicable Laws; or (6) (8) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share Share exercise price for the Shares to be issued upon pursuant to the exercise of an Option shall be such price as is determined by the Administrator, Administrator and set forth in the Option Agreement, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, who at the time of grant of such Option, owns stock representing more than ten percent (10%) of is a Ten Percent Holder, the voting power of all c...lasses of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. grant; (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. grant; (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, the per Share exercise price shall be determined by no less than 100% of the Administrator. Fair Market Value on the date of grant; (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. -7- (b) Forms of Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, Option and to the extent required by Applicable Laws, shall be determined at the time of grant). Such consideration grant) and may consist of, without limitation, entirely of (1) cash, cash; (2) check, check; (3) to the extent permitted under Applicable Laws, delivery of a promissory note, note with such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate (subject to the provisions of Section 409 of the California Corporations Code); (4) cancellation of indebtedness; (5) other Shares, provided previously owned Shares acquired directly from the Company (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised; (6) a Cashless Exercise; (7) such Option shall be exercised, (5) other consideration received by the Company and method of payment permitted under a cashless exercise program implemented by the Company in connection with the Plan, Applicable Laws; or (6) (8) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. Company and the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise. View More
Option Exercise Price and Consideration. (a) Exercise Price. The per share exercise price for the Shares to be issued upon pursuant to exercise of an Option shall be such price as is determined by the Administrator, but shall be subject to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, at the time of grant of such Option, the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsi...diary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. (B) granted to any Employee other Employee, than an Employee described in paragraph (A) immediately above, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, Option, the per Share exercise price shall be determined by the Administrator. Administrator, provided that the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (iii) Notwithstanding the foregoing, Options may may, in connection with an assumption of, or substitution for, another option in a manner that complies with Code section 424(a), be granted with a per Share exercise price other of less than as required above 100% of the Fair Market Value per Share on the date of grant pursuant to a merger or other corporate transaction. (b) Forms Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator shall fix the period within which the Option may be exercised and shall determine any conditions which must be satisfied before the Option may be exercised. (c) Form of Consideration. The Administrator shall determine the acceptable form of consideration to be paid for the Shares to be issued upon exercise of exercising an Option, including the method of payment, shall be determined by the Administrator (and, in payment. In the case of an Incentive Stock Option, the Administrator shall be determined determine the acceptable form of consideration at the time of grant). grant. Such consideration may consist of, without limitation, (1) cash, (2) check, (3) entirely of: (i) cash; (ii) check; (iii) promissory note, (4) note; (iv) other Shares, provided Shares which (A) in the case of Shares acquired directly from the Company (x) upon exercise of an option, have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such said Option shall be exercised, (5) exercised; (v) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) Plan; (vi) for any Nonstatutory Stock Option, by a "net exercise" arrangement pursuant to which the Company will not require a payment of the Option exercise price but will reduce the number of Shares upon the exercise by the largest number of whole shares that has a Fair Market Value on the date of exercise that does not exceed the aggregate Option exercise price. (vii) any combination of the foregoing methods of payment. In making its determination as payment; or (viii) such other consideration and method of payment for the issuance of Shares to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. extent permitted by Applicable Laws. View More
Option Exercise Price and Consideration. (a) Exercise Price. a. The per share exercise price for the Shares to be issued upon exercise of an Option shall be such price as is determined by the Administrator, but shall be subject equal to the following: (i) In the case of an Incentive Stock Option (A) granted to an Employee who, at the time of grant of such Option, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the exercise price shall be no less... than 110% of the Fair Market Value per Share share as listed on the date Notice of grant. (B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. (ii) In the case of a Nonstatutory Stock Option (A) granted to any other Service Provider, the per Share exercise price shall be determined by the Administrator. (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. (b) Forms of Consideration. Grant. b. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case Board of an Incentive Stock Option, shall be determined at the time of grant). Directors. Such consideration may consist of, without limitation, of (1) cash, (2) check, (3) promissory note, (4) other Shares, provided Shares which (x) in the case of Shares acquired directly from the Company (x) upon exercise of an Option, have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, (5) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. View More
