Common use of Consideration for Common Stock or Awards Clause in Contracts

Consideration for Common Stock or Awards. The purchase price for any award granted under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the Administrator, including, without limitation, one or a combination of the following methods: • services rendered by the recipient of such award, if authorized by the Administrator; • cash, check payable to the order of the Corporation, or electronic funds transfer; • notice and third party payment in such manner as may be authorized by the Administrator; • the delivery of previously owned shares of Common Stock; • by a reduction in the number of shares otherwise deliverable pursuant to the award; or • subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. In the event that the Administrator allows a participant to exercise an award by delivering shares of Common Stock previously owned by such participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the participant from the Corporation (upon exercise of a stock option or otherwise) must have been owned by the participant at least six months as of the date of delivery. Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their Fair Market Value on the date of exercise. The Corporation will not be obligated to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase, as established from time to time by the Administrator, have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Corporation.

Appears in 1 contract

Samples: Purchase and Ipo Reorganization Agreement (Hicks Acquisition CO I Inc.)

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Consideration for Common Stock or Awards. The purchase price for any award granted under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the Administrator, including, without limitation, one or a combination of the following methods: • services rendered by the recipient of such award, if authorized by the Administrator; • cash, check payable to the order of the Corporation, or electronic funds transfer; • notice and third party payment in such manner as may be authorized by the Administrator; • the delivery of previously owned shares of Common Stock; • by a reduction in the number of shares otherwise deliverable pursuant to the award; or • subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. In no event shall any shares newly-issued by the Corporation be issued for less than the minimum lawful consideration for such shares or for consideration other than consideration permitted by applicable state law. In the event that the Administrator allows a participant to exercise an award by delivering shares of Common Stock previously owned by such participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the participant from the Corporation (upon exercise of a stock option or otherwise) must have been owned by the participant at least six months as of the date of delivery. Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their Fair Market Value fair market value on the date of exercise. The Corporation will not be obligated to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase, as established from time to time by the Administrator, purchase have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Corporation.

Appears in 1 contract

Samples: Agreement (New Century Financial Corp)

Consideration for Common Stock or Awards. The purchase price for any award granted under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the AdministratorAdministrator and subject to compliance with applicable laws, including, without limitation, one or a combination of the following methods: • services rendered by the recipient of such award, if authorized by the Administrator; • cash, check payable to the order of the Corporation, or electronic funds transfer; • notice and third party payment in such manner as may be authorized by the Administrator; • the delivery of previously owned shares of Common StockStock that are fully vested and unencumbered; • by a reduction in the number of shares otherwise deliverable pursuant to the award; or • subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. In the event that the Administrator allows a participant to exercise an award by delivering shares of Common Stock previously owned by such participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the participant from the Corporation (upon exercise of a stock option or otherwise) must have been owned by the participant at least six months as of the date of deliverydelivery (or such other period as may be required by the Administrator in order to avoid adverse accounting treatment). Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their Fair Market Value on the date of exercise. The Corporation will not be obligated to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase, as established from time to time by the Administrator, have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Corporation.

Appears in 1 contract

Samples: Subscription Agreement (Majesco Entertainment Co)

Consideration for Common Stock or Awards. The purchase price for any award granted under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the AdministratorAdministrator and subject to compliance with applicable laws, including, without limitation, one or a combination of the following methods: • services rendered by the recipient of such award, if authorized by the Administrator; • cash, check payable to the order of the Corporation, or electronic funds transfer; • notice and third party payment in such manner as may be authorized by the Administrator; • the delivery of previously owned shares of Common StockStock that are fully vested and unencumbered; • by a reduction in the number of shares otherwise deliverable pursuant to the award; or • subject to such procedures as the Administrator may adopt, pursuant to a "cashless exercise" with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. In the event that the Administrator allows a participant to exercise an award by delivering shares of Common Stock previously owned by such participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the participant from the Corporation (upon exercise of a stock option or otherwise) must have been owned by the participant at least six months as of the date of deliverydelivery (or such other period as may be required by the Administrator in order to avoid adverse accounting treatment). Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their Fair Market Value on the date of exercise. The Corporation will not be obligated to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase, as established from time to time by the Administrator, have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s 's ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Corporation.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Red Cat Holdings, Inc.)

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Consideration for Common Stock or Awards. The purchase price for any award granted under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the Administrator, including, without limitation, one or a combination of the following methods: - services rendered by the recipient of such award, if authorized by the Administrator; - cash, check payable to the order of the Corporation, or electronic funds transfer; - notice and third party payment in such manner as may be authorized by the Administrator; - the delivery of previously owned shares of Common Stock; - by a reduction in the number of shares otherwise deliverable pursuant to the award; or - subject to such procedures as the Administrator may adopt, pursuant to a "cashless exercise" with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. In no event shall any shares newly-issued by the Corporation be issued for less than the minimum lawful consideration for such shares or for consideration other than consideration permitted by applicable state law. In the event that the Administrator allows a participant to exercise an award by delivering shares of Common Stock previously owned by such participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the participant from the Corporation (upon exercise of a stock option or otherwise) must have been owned by the participant at least six months as of the date of delivery. Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their Fair Market Value fair market value on the date of exercise. The Corporation will not be obligated to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase, as established from time to time by the Administrator, purchase have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s 's ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Corporation.

Appears in 1 contract

Samples: Agreement (Greenlight Capital LLC)

Consideration for Common Stock or Awards. The purchase price for any award Award granted under this Plan or the Common Stock to be delivered pursuant to an awardAward, as applicable, may be paid by means of any lawful consideration as determined by the AdministratorAdministrator and subject to compliance with applicable laws, including, without limitation, one or a combination of the following methods: (i) services rendered by the recipient of such award, if authorized by the AdministratorAward; (ii) cash, check payable to the order of the CorporationCompany, or electronic funds transfer; (iii) notice and third third-party payment in such manner as may be authorized by the Administrator; (iv) the delivery of previously owned shares of Common StockStock that are f ully vested and unencumbered; (v) by a reduction in the number of shares otherwise deliverable pursuant to the awardAward; or (vi) subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third party �ca�h�e�� e�e�ci�e� �i�h an approved broker or dealer who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awardsAwards. In the event that the Administrator allows a participant Participant to exercise an award Award by delivering shares of Common Stock previously owned by such participant Participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially acquired by the participant Participant from the Corporation Company (upon exercise of a stock option an Option or otherwise) must have been owned by the participant Participant at least six (6) months as of the date of deliverydelivery (or such other period as may be required by the Administrator in order to avoid adverse accounting treatment). Shares of Common Stock used to satisfy the exercise price of an option Option shall be valued at their Fair Market Value on the date of exercise. The Corporation Company will not be obligated to deliver any shares with respect to any Award unless and until it receives full payment of the exercise or purchase price therefor theref or and any related withholding obligations amounts under Section 8.5 9.1, and any other conditions to exercise or purchase, as established from time to time by the AdministratorAdministrator , have been satisfied. Unless otherwise expressly provided in the applicable award agreementAward Agreement, the Administrator may at any time eliminate or limit Ad�i�i���a��� �a� a� a�� �i�e e�i�i�a�e �� �i�i� a participant’s ability to pay the Pa��ici�a���� abi�i�� �� �a� �he purchase or exercise price of any award or shares Award by any method other than cash payment to the CorporationCompany.

Appears in 1 contract

Samples: Equity Incentive Plan (Servicesource International, Inc.)

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