Manner of Exercising Option. The Option may be exercised only as to whole shares and only by written notice signed by the Optionee (or in the case of exercise after Optionee's death or mental disability by Optionee's legal representative, executor, administrator or heir or legatee, as applicable), and mailed or delivered to the Secretary of the Company at its principal office. The notice shall specify the number of Option Shares with respect to which the Option is being exercised. The notice must be accompanied by payment in full for such Shares in cash and include any representations required by Section 9. If the Option is exercised by a person other than the Optionee, such person must provide the Company with proof, in a form satisfactory to the Company and its counsel, that such person has the right to exercise the Option. The Company shall have the right to accept payment for the Option in a form other than cash, in the Company's sole discretion.
Appears in 8 contracts
Samples: Director Stock Option Agreement (Margo Nursery Farms Inc), Director Stock Option Agreement (Margo Nursery Farms Inc), Employee Stock Option Agreement (Margo Caribe Inc)
