Common use of Cashing Out Option Clause in Contracts

Cashing Out Option. On receipt of written notice of exercise pursuant to Section 3, the Committee may elect to cash-out all or a part of the portion of the shares of Stock for which all or a portion of this Option is being exercised by paying Optionee an amount, in cash or Stock, equal to the excess of the Fair Market Value (as defined in the Plan) of the Stock over the option price times the number of shares of Stock for which the Option is being exercised (and cashed-out) on the effective date of such exercise.

Cashing Out Option. On receipt of written notice of exercise pursuant to Section 3, the Committee may elect to cash-out all or a part of the portion of the shares of Common Stock for which all or a portion of this Option is being exercised by paying Optionee an amount, in cash or Common Stock, equal to the excess of the Fair Market Value fair market value of the Common Stock (as defined in determined under Section 6(b) of the Plan) of the Stock over the option price times the number of shares of Common Stock for which the Option is being exercised (and cashed-out) on the effective date of such exercisecash-out.

Cashing Out Option. On receipt of written notice of exercise pursuant to Section 3, the Committee may elect to cash-out all or a part of the portion of the shares of Common Stock for which all or a portion of this the Option is being exercised by paying the Optionee an amount, in cash or Common Stock, equal to the excess of the Fair Market Value (as defined in the Plan) of the Common Stock over the option price times the number of shares of Common Stock for which the Option is being exercised (and cashed-out) on the effective date of such exercise.

Cashing Out Option. On receipt of written notice of exercise pursuant to Section 3exercise, the Committee may elect to cash-cash out all or a part of the portion of the shares of Stock for which all or a portion of this the Option is being exercised by paying the Optionee an amount, in cash or Stock, equal to (i) the excess of the Fair Market Value (as defined in the Plan) of the Stock over the option price times Exercise Price, multiplied by (ii) the number of shares of Stock for which the Option is being exercised (and cashed-out) on the effective date of such exercisecash-out.

Cashing Out Option. On receipt of written notice of exercise pursuant to Section 3exercise, the Committee may elect to cash-cash out all or a part of the portion of the shares of Stock for which all or a portion of this the Option is being exercised by paying the Optionee an amount, in cash or Stock, equal to the excess of the Fair Market Value (as defined in the Plan) of the Stock over the option price times Exercise Price, multiplied by the number of shares of Stock for which the Option is being exercised (and cashed-out) on the effective date of such exercisecash-out.