FRACTIONAL OPTION SHARES. The Company shall not be required to issue fractions of Option Shares upon exercise of this Option or to distribute certificates that evidence fractional Option Shares. All fractions of Option Shares to which Holder would otherwise be entitled shall be aggregated and in lieu of such remaining fractional Option Share, there shall be paid to Holder at the time this Option is exercised as herein provided an amount in cash equal to the stated fraction of the fair market value of an Option Share as determined in good faith by the Board of Directors of the Company.
Appears in 10 contracts
Samples: Non Qualified Stock Option Agreement (Telenetics Corp), Non Qualified Stock Option Agreement (Netguru Inc), Non Qualified Stock Option Agreement (Telenetics Corp)
FRACTIONAL OPTION SHARES. The Company shall not be required to issue ------------------------ fractions of Option Shares upon exercise of this Option or to distribute certificates that evidence fractional Option Shares. All fractions of Option Shares to which Holder would otherwise be entitled shall be aggregated and in lieu of such remaining fractional Option Share, there shall be paid to Holder at the time this Option is exercised as herein provided an amount in cash equal to the stated fraction of the fair market value of an Option Share as determined in good faith by the Board of Directors of the Company.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Saunders & Parker Inc)
