Common use of Exercise of Option With Stock or Net of Exercise Price Clause in Contracts

Exercise of Option With Stock or Net of Exercise Price. A Participant may elect to exercise an Option in whole or in part by (i) delivering whole shares of the Company’s Common Stock previously owned by such Participant (whether or not acquired through the prior exercise of a stock option) having a fair market value equal to the aggregate Option price; or (ii) directing the Company to withhold from the shares that would otherwise be issued upon exercise of the Option that number of whole shares having a fair market value equal to the aggregate Option price. Shares of the Company’s Common Stock so delivered or withheld shall be valued at their fair market value at the close of the last business day immediately preceding the date of exercise of the Option. Any balance of the aggregate Option price shall be paid in cash.

Exercise of Option With Stock or Net of Exercise Price. A Participant An Optionee may elect to exercise an Option in whole or in part by (i) delivering whole shares of the Company’s 's Common Stock previously owned by such Participant Optionee (whether or not acquired through the prior exercise of a stock option) having a fair market value equal to the aggregate Option option price; or (ii) directing the Company to withhold from the shares Shares that would otherwise be issued upon exercise of the Option that number of whole shares Shares having a fair market value equal to the aggregate Option price. Shares of the Company’s 's Common Stock so delivered or withheld shall be valued at their fair market value at the close of the last business day immediately preceding the date of exercise of the Option, as determined by the Board of Directors of the Company. Any balance of the aggregate Option price shall be paid in cash.

Exercise of Option With Stock or Net of Exercise Price. A Participant An Optionee may elect to exercise an Option in whole or in part by (i) delivering whole shares of the Company’s 's Common Stock previously owned by such Participant Optionee (whether or not acquired through the prior exercise of a stock option) having a fair market value equal to the aggregate Option price; or (ii) directing the Company to withhold from the shares Shares that would otherwise be issued upon exercise of the Option that number of whole shares Shares having a fair market value equal to the aggregate Option price. Shares of the Company’s 's Common Stock so delivered or withheld shall be valued at their fair market value at the close of the last business day immediately preceding the date of exercise of the Option, as determined by the Board of Directors of the Company. Any balance of the aggregate Option price shall be paid in cash.