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Common use of Cashless Payment Clause in Contracts

Cashless Payment. The Employee may, in his or her sole discretion, use shares of Common Stock of the Company that were owned by the Employee for more than six (6) months (and which have been paid for within the meaning of SEC Rule 144 and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares), or that were obtained by the Employee in the open public market, to pay the purchase price for the Option Shares by delivery of one or more stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value.

Appears in 5 contracts

Samples: Stock Option Agreement (WisdomTree Investments, Inc.), Stock Option Agreement (WisdomTree Investments, Inc.), Stock Option Agreement (Individual Investor Group Inc)

Cashless Payment. The Employee may, in his or her sole discretion, use shares of Common Stock of the Company that were owned by the Employee for more than six (6) months (and which have been paid for within the meaning of SEC Rule 144 promulgated by the Securities and Exchange Commission ("Commission") and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares), or that were obtained by the Employee in the open public market, to pay the purchase price for the Option Shares by delivery of one or more stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market ValueValue (as such term is defined in each of the respective Plans).

Appears in 2 contracts

Samples: Stock Option Agreement (Individual Investor Group Inc), Stock Option Agreement (Individual Investor Group Inc)