Common use of Exercise of Vested Options Clause in Contracts

Exercise of Vested Options. For each Key Executive, all vested options shall be exercised prior to the Merger by tendering existing Wellsford Common Shares in payment of the exercise price. The value of the tendered shares shall be $27.50 per share for purposes of the payment of the exercise price, regardless of their actual value.

Exercise of Vested Options. For each Key Executive, all vested options shall be exercised prior to the Merger by tendering existing Wellsford Common Shares in payment of the exercise price. The value of the tendered shares shall be valued at $27.50 per share for purposes of the payment of the exercise price, regardless of their actual value.