Common use of Manner of Exercise of Option Clause in Contracts

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s completion, execution and delivery to the Company of a notice of exercise and, if required by the Company, an “investment letter” as supplied by the Company confirming Participant’s representations and warranties in Section 17 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the Company, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s notice of exercise. Participant’s notice of exercise shall be given in the manner specified in Section 12 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the Company. The notice of exercise and the “investment letter” may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company shall issue and deliver to Participant a certificate or certificates evidencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporated.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s 's completion, execution and delivery to the Company Corporation of a notice of exercise and, if required by the CompanyCorporation, an “"investment letter” " as supplied by the Company Corporation confirming Participant’s 's representations and warranties in Section 17 section 16 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the CompanyCorporation, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s 's notice of exercise. Participant’s 's right to exercise the Option shall be conditioned upon and subject to satisfaction, in a manner acceptable to the Corporation, of any withholding liability under any state or federal law arising in connection with exercise of the Option. Participant must provide notice of exercise of the Option with respect to no fewer than 100 Shares (or any lesser number of Shares with respect to which the Option is then vested and exercisable). Participant's notice of exercise shall be given in the manner specified in Section section 12 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the CompanyCorporation. The notice of exercise and the “"investment letter” " may be in the form set forth in Exhibit EXHIBIT A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected, as determined by the Committee in its discretion. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. (b) Subject to the provisions of Section 4 of the Plan, upon Upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company Corporation shall issue and deliver to Participant a certificate or certificates evidencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear such legends as the legend specified in Section 16 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporatedCorporation deems appropriate.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s completion, execution and delivery to the Company of a notice of exercise and, if required by the Company, an “investment letter” as supplied by the Company confirming Participant’s representations and warranties in Section 17 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the Company, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s notice of exercise. Participant’s notice of exercise shall be given in the manner specified in Section 12 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the Company. The notice of exercise and the “investment letter” may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 3.7 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company shall issue and deliver to Participant a certificate or certificates evidencing evi-dencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporated.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s 's completion, execution and delivery to the Company Corporation of a notice of exercise and, if required by the CompanyCorporation, an “"investment letter” " as supplied by the Company Corporation confirming Participant’s 's representations and warranties in Section 17 18 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the CompanyCorporation, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s 's notice of exercise. Participant’s 's notice of exercise shall be given in the manner specified in Section 12 13 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the CompanyCorporation. The notice of exercise and the “"investment letter” " may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 3.7 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company Corporation shall issue and deliver to Participant a certificate or certificates evidencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 17 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporatedNorth Carolina Business Corporation Act.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s completion, execution and delivery to the Company of a notice of exercise and, if required by the Company, an “investment letter” as supplied by the Company confirming Participant’s representations and warranties in Section 17 16 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the Company, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s notice of exercise. Participant’s notice of exercise shall be given in the manner specified in Section 12 11 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the Company. The notice of exercise and the “investment letter” may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 3.7 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company shall issue and deliver to Participant a certificate or certificates evidencing evi-dencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporated.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s completion, execution and delivery to the Company Corporation of a notice of exercise and, if required by the CompanyCorporation, an “investment letter” as supplied by the Company Corporation confirming Participant’s representations and warranties in Section 17 13 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the CompanyCorporation, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s notice of exercise. Participant’s notice of exercise shall be given in the manner specified in Section 12 9 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the CompanyCorporation. The notice of exercise and the “investment letter” may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company Corporation shall issue and deliver to Participant a certificate or certificates evidencing evi-dencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 of this Agreement and any legend required by any federal or state securities laws and including, to the extent required or deemed advisable by the state in which Corporation or its counsel, a legend indicating that the Company transfer or encumbrance of the Shares is incorporatedrestricted pursuant to the Securities Act of 1933, as amended.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s completion, execution and delivery to the Company of a notice of exercise and, if required by the Company, an “investment letter” as supplied by the Company confirming Participant’s representations and warranties in Section 17 15 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the Company, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s notice of exercise. Participant’s notice of exercise shall be given in the manner specified in Section 12 10 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the Company. The notice of exercise and the “investment letter” may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by only in cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 3.7 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company shall issue and deliver to Participant a certificate or certificates evidencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 15 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporated. All shares that shall be purchased upon the exercise of the Option shall be fully paid and nonassessable.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s 's completion, execution and delivery to the Company Corporation of a notice of exercise and, if required by the CompanyCorporation, an “"investment letter” " as supplied by the Company Corporation confirming Participant’s 's representations and warranties in Section 17 24 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the CompanyCorporation, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s 's notice of exercise. Participant’s 's notice of exercise shall be given in the manner specified in Section 12 18 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the CompanyCorporation. The notice of exercise and the “"investment letter” " may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate --------- Purchase Price for Shares Participant has elected to purchase shall be made by cash or good check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 of the Plan, upon Upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company Corporation shall issue and deliver to Participant a certificate or certificates evidencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 23 of this Agreement and any legend required by any federal or state securities laws and by the state in which the Company is incorporatedNorth Carolina Business Corporation Act.

Manner of Exercise of Option. (a) The Option may be exercised only by (i) Participant’s completion, execution and delivery to the Company Corporation of a notice of exercise and, if required by the CompanyCorporation, an “investment letter” as supplied by the Company Corporation confirming Participant’s representations and warranties in Section 17 14 of this Agreement, including the representation that Participant is acquiring the Shares for investment only and not with a view to the resale or other distribution thereof, and (ii) the payment to the CompanyCorporation, pursuant to the terms of this Agreement, of an amount equal to the Purchase Price multiplied by the number of Shares being purchased as specified in Participant’s notice of exercise. Participant’s notice of exercise shall be given in the manner specified in Section 12 10 but any exercise of the Option shall be effective only when the items required by the preceding sentence are actually received by the CompanyCorporation. The notice of exercise and the “investment letter” may be in the form set forth in Exhibit A attached to this Agreement. Payment of the aggregate Purchase Price for Shares Participant has elected to purchase shall be made by cash or good bank check. Notwithstanding anything to the contrary in this Agreement, the Option may be exercised only if compliance with all applicable federal and state securities laws can be effected. (b) Subject to the provisions of Section 4 of the Plan, upon any exercise of the Option by Participant or as soon thereafter as is practicable, the Company Corporation shall issue and deliver to Participant a certificate or certificates evidencing such number of Shares as Participant has then elected to purchase. Such certificate or certificates shall be registered in the name of Participant and shall bear the legend specified in Section 16 of this Agreement and any legend required by any federal or state securities laws and including, to the extent required or deemed advisable by the state in which Corporation or its counsel, a legend indicating that the Company transfer or encumbrance of the Shares is incorporatedrestricted pursuant to the Securities Act of 1933, as amended.