Common use of Exercise, Payment for and Delivery of Stock Clause in Contracts

Exercise, Payment for and Delivery of Stock. Each exercise of the Option shall be accomplished by presentation and delivery to the Company of a notice of exercise, duly executed and accompanied by payment of the exercise price for the number of shares of Common Stock specified in such notice of exercise, together with all Federal and state taxes applicable upon such exercise.

Exercise, Payment for and Delivery of Stock. Each exercise of the Option shall be accomplished by presentation and delivery to the Company of a notice of exercise, duly executed and accompanied by payment of the exercise price for the number of shares of Common Stock specified in such notice of exercise, together with all Federal and state taxes applicable upon such exercise. Notwithstanding the foregoing provisions requiring payment by cash or check, Grantee shall have the right, in his sole and absolute discretion, to elect a "cashless" exercise of the net value of the Option.

Exercise, Payment for and Delivery of Stock. Each exercise of the Option shall be accomplished by presentation and delivery to the Company of a notice of exercise, duly executed and accompanied by payment of the exercise price for the number of shares of Common Stock specified in such notice of exercise, together with all Federal and state taxes applicable upon such exercise. Notwithstanding the foregoing provisions requiring payment by cash or check, Grantee shall have the right, in his sole and absolute discretion, to elect a "cashless" exercise of the net value of the Option as more fully described in the Company's 1999 Stock Incentive Plan.