Common use of Manner of Exercise, Payment of Purchase Price Clause in Contracts

Manner of Exercise, Payment of Purchase Price. A. Subject to the terms and conditions of this Agreement, the Award shall be exercised by written notice to the Company at its principal office. Such notice shall state the election to exercise the Award and shall specify the number of Option Shares sought to be exercised pursuant to the notice. Such notice of exercise shall be signed by Employee and shall be irrevocable when given. B. The notice of exercise shall be accompanied by the full payment of the purchase price for the Option Shares in cash by certified check or bank cashiers check or through satisfactory arrangements for payment by a broker representing the Employee in the sale of some or all of the Option Shares. Subject to approval of an authorized Committee of the Board of Directors (the "Committee"), payment of the purchase price may be accomplished by the surrender of stock certificates representing Shares having an aggregate fair market value on the date of exercise equal to the purchase price of the Option Shares, or by a combination of cash and Shares. C. Upon receipt of the purchase price, and subject to the terms of paragraph 11, a certificate representing the Option Shares exercised shall be registered in the name of the person or persons so exercising the Award. In the event the Award shall be exercised pursuant to paragraph 7, by any person or persons other than the Employee, such notice shall be accompanied by appropriate proof satisfactory to the Company of the right of such person or persons to exercise the Award. All Shares issued as a result of an exercise of an Award as provided herein shall be fully paid and non-assessable. D. The payment of witholding tax liability by Employee shall be a condition precedent to the Company's obligation to issue any certificates for Shares resulting from an exercise of an Award.

Manner of Exercise, Payment of Purchase Price. A. Subject to the terms and conditions of this Agreement, the Award Option shall be exercised by written notice to the Company at its principal office. Such notice shall state the election to exercise the Award Option and shall specify the number of Option Shares sought to be exercised pursuant to the notice. Such notice of exercise shall be signed by Employee and shall be irrevocable when given. B. The notice of exercise shall be accompanied by the full payment of the purchase price for the Option Shares in cash by certified check or bank cashiers check or through satisfactory arrangements for payment by a broker representing the Employee in the sale of some or all of the Option Shares. Subject to approval of an authorized Committee committee of the Board of Directors (the "Committee"), payment of the purchase price may be accomplished by the surrender of stock certificates certifications representing Shares having an aggregate fair market value on the date of exercise equal to the purchase price of the Option Shares, or by a combination of cash and Shares. C. Upon receipt of the purchase price, and subject to the terms of paragraph 11, a certificate representing the Option Shares exercised shall be registered in the name of the person or persons so exercising the AwardOption. In the event the Award Option shall be exercised pursuant to paragraph 7, by any person or persons other than the Employee, such notice shall be accompanied by appropriate proof satisfactory to the Company of the right of such person or persons to exercise the AwardOption. All Shares Share issued as a result of an exercise of an Award Option as provided herein shall be fully paid and non-assessable. D. The payment of witholding withholding tax liability by Employee shall be a condition precedent to the Company's obligation to issue any certificates for Shares resulting from an exercise of an AwardOption.

Manner of Exercise, Payment of Purchase Price. A. Subject to the terms and conditions of this Agreement, the Award Option shall be exercised by written notice to the Company at its principal office. Such notice shall state the election to exercise the Award Option and shall specify the number of Option Shares sought to be exercised pursuant to the notice. Such notice of exercise shall be signed by Employee and shall be irrevocable when given. B. The notice of exercise shall be accompanied by the full payment of the purchase price for the Option Shares in cash by certified check or bank cashiers check or through satisfactory arrangements for payment by a broker representing the Employee in the sale of some or all of the Option Shares. Subject to approval of an authorized Committee committee of the Board of Directors (the "Committee"), payment of the purchase price may be accomplished by the surrender of stock certificates certifications representing Shares having an aggregate fair market value on the date of exercise equal to the purchase price of the Option Shares, or by a combination of cash and Shares. C. Upon receipt of the purchase price, and subject to the terms of paragraph 11, a certificate representing the Option Shares exercised shall be registered in the name of the person or persons so exercising the AwardOption. In the event the Award Option shall be exercised pursuant to paragraph 7, by any person or persons other than the Employee, such notice shall be accompanied by appropriate proof satisfactory to the Company of the right of such person or persons to exercise the AwardOption. All Shares issued as a result of an exercise of an Award Option as provided herein shall be fully paid and non-assessable. D. The payment of witholding withholding tax liability by Employee shall be a condition precedent to the Company's obligation to issue any certificates for Shares resulting from an exercise of an AwardOption.

Manner of Exercise, Payment of Purchase Price. A. Subject to the terms and conditions of this Agreement, the Award shall be exercised by written notice to the Company at its principal office. Such notice shall state the election to exercise the Award and shall specify the number of Option Shares sought to be exercised pursuant to the notice. Such notice of exercise shall be signed by Employee and shall be irrevocable when given. B. The notice of exercise shall be accompanied by the full payment of the purchase price for the Option Shares in cash by certified check or bank cashiers check or through satisfactory arrangements for payment by a broker representing the Employee in the sale of some or all of the Option Shares. Subject to approval of an authorized Committee of the Board of Directors (the "“Committee"”), payment of the purchase price may be accomplished by the surrender of stock certificates certifications representing Shares having an aggregate fair market value on the date of exercise equal to the purchase price of the Option Shares, or by a combination of cash and Shares. C. Upon receipt of the purchase price, and subject to the terms of paragraph 11, a certificate representing the Option Shares exercised shall be registered in the name of the person or persons so exercising the Award. In the event the Award shall be exercised pursuant to paragraph 7, by any person or persons other than the Employee, such notice shall be accompanied by appropriate proof satisfactory to the Company of the right of such person or persons to exercise the Award. All Shares Share issued as a result of an exercise of an Award as provided herein shall be fully paid and non-assessable. D. The payment of witholding withholding tax liability by Employee shall be a condition precedent to the Company's ’s obligation to issue any certificates for Shares resulting from an exercise of an Award.