Common use of Cashless Exercise Procedures Clause in Contracts

Cashless Exercise Procedures. The Company, in its sole discretion, may establish procedures whereby the Optionee, subject to the requirements of Rule 16b-3 under the Exchange Act , Regulation T issued by the Board of Governors of the Federal Reserve System pursuant to the Exchange Act, federal income tax laws, and other federal, state and local tax and securities laws, can exercise the Option or a portion thereof without making a direct payment of the Option Price to the Company. If the Company so elects to establish a cashless exercise program, the Company shall determine, in its sole discretion and from time to time, such administrative procedures and policies as it deems appropriate consistent with those of any cashless exercise program established pursuant to the Employee Plan and such procedures and policies shall be binding on the Optionee should he elect to utilize the cashless exercise program.

Cashless Exercise Procedures. The Company, in its sole discretion, may establish procedures whereby the Optionee, subject to the requirements of Rule 16b-3 under the Exchange Act , Regulation T issued by the Board of Governors of the Federal Reserve System pursuant to the Exchange Act, federal income tax laws, and other federal, state and local tax and securities laws, can exercise the Option or a portion thereof without making a direct payment of the Option Price price to the Company. If the Company so elects to establish a cashless exercise program, the Company shall determine, in its sole discretion and from time to time, such administrative procedures and policies as it deems appropriate consistent with those of any cashless exercise program established pursuant to the Employee Plan and such procedures and policies shall be binding on the Optionee should he elect to utilize the cashless exercise program.

Cashless Exercise Procedures. The Company, in its sole discretion, may establish procedures whereby the Optionee, subject to the requirements of Rule 16b-3 under the Exchange Act Act, Regulation T issued by the Board of Governors of the Federal Reserve System pursuant to the Exchange Act, federal income tax laws, and other federal, state and local tax and securities laws, can exercise the Option or a portion thereof without making a direct payment of the Option Price to the Company. If the Company so elects to establish a cashless exercise program, the Company shall determine, in its sole discretion and from time to time, such administrative procedures and policies as it deems appropriate consistent with those of any cashless exercise program established pursuant to the Employee Plan and such procedures and policies shall be binding on the Optionee should he or she elect to utilize the cashless exercise program.

Cashless Exercise Procedures. The Company, in its sole and absolute discretion, may establish procedures whereby the OptioneeGrantee, to the extent permitted by and subject to the requirements of Rule 16b-3 under the Exchange Act , Regulation T issued by the Board of Governors of the Federal Reserve System pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), federal income tax laws, and other federal, state and or local tax and securities laws, can exercise the Option Option, or a portion thereof thereof, without making a direct payment of the Option Price exercise price thereof to the Company. If the Company so elects to establish a cashless exercise program, the Company shall determine, in its sole and absolute discretion and from time to time, such administrative procedures and policies as it deems appropriate consistent with those of any cashless exercise program established pursuant to the Employee Plan and such appropriate. Such procedures and policies shall be binding on the Optionee Grantee should he elect to utilize the cashless exercise program.

Cashless Exercise Procedures. The Company, in its sole discretion, may establish procedures whereby the Optionee, subject to the requirements of Rule 16b-3 under the Exchange Act Act, Regulation T issued by the Board of Governors of the Federal Reserve System pursuant to the Exchange Act, federal income tax laws, and other federal, state and local tax and securities laws, can exercise the Option or a portion thereof without making a direct payment of the Option Price price to the Company. If the Company so elects to establish a cashless exercise program, the Company shall determine, in its sole discretion and from time to time, such administrative procedures and policies as it deems appropriate consistent with those of any cashless exercise program established pursuant to the Employee Plan and such procedures and policies shall be binding on the Optionee should he elect to utilize the cashless exercise program.