Common use of Manner of Exercising Option Clause in Contracts

Manner of Exercising Option. (a) In order to exercise this option with respect to all or any part of the Optioned Shares for which this option is at the time exercisable, Optionee (or in the case of exercise after Optionee's death, the Optionee's executor, administrator, heir or legatee, as the case may be) must take the following actions: (i) Execute and deliver to the Secretary of the Company written notice of exercise (the "Notice"). Any such Notice shall be substantially in the same form as attached Exhibit "A"; (ii) Pay the aggregate option price for the purchased shares (plus an amount equal to required federal and state tax withholding on the taxable income recognized at the time of such exercise) in cash; and (iii) Furnish to the Company appropriate documentation that the person or persons exercising the option, if other than Optionee, have the right to exercise this option. (b) This option shall be deemed to have been exercised with respect to the number of Optioned Shares specified in the Notice at such time as the Notice has been delivered to the Company. Payment of the option price (and withholding amount) shall immediately become due and shall accompany the Notice. As soon thereafter as practical, the Company shall mail or deliver to Optionee or to the other person or persons exercising this option a certificate or certificates representing the shares so purchased and paid for.

Manner of Exercising Option. (a) In order to exercise this option Option with respect to all or any part of the Optioned Shares for which this option Option is at the time exercisable, Optionee (or in the case of exercise after Optionee's death, the Optionee's executor, administrator, heir or legateelegatees, as the case may be) must take the following actions: (i) Execute and deliver to the Secretary Chairman or the Chief Executive Officer of the Company written notice of exercise a stock purchase agreement in the form substantially set forth in attached EXHIBIT B (the "NoticePurchase Agreement"). Any such Notice shall be substantially in ) which includes the same form as buy-sell provisions attached Exhibit "A";thereto; and (ii) Pay the aggregate option price Option Price for the purchased shares (plus an amount equal to required federal and state tax withholding on in cash, unless another form of permitted consideration is described in Exhibit A, if any, attached hereto or permitted by the taxable income recognized Board at the time of such exercise) in cash; and (iii) Furnish to the Company appropriate documentation that the person or persons exercising the option, if other than Optionee, have the right to exercise this option. (b) This option Option shall be deemed to have been exercised with respect to the number of Optioned Shares specified in the Notice Purchase Agreement at such time as the Notice has executed Purchase Agreement for such shares shall have been delivered to the CompanyCompany and all other conditions of this Paragraph have been fulfilled. Payment of the option price (and withholding amount) Option Price shall immediately become due and shall accompany the NoticePurchase Agreement. As soon thereafter as practical, the Company shall mail or deliver to Optionee or to the other person or persons exercising this option Option a certificate or certificates representing the shares Shares so purchased and paid for.

Manner of Exercising Option. (a) In order to exercise this option with respect to all or any part of the Optioned Shares for which this option is at the time exercisable, Optionee (or in the case of exercise after Optionee's death, the Optionee's executor, administrator, heir or legatee, as the case may be) must take the following actions: (i) Execute and deliver to the Secretary of the Company written notice a stock purchase agreement in substantially the form of exercise Exhibit A to this Agreement (the "NoticePurchase Agreement"). Any such Notice shall be substantially in the same form as attached Exhibit "A"; (ii) Pay the aggregate option price for the purchased shares (plus an amount equal to required federal and state tax withholding on the taxable income recognized at the time of such exercise) in cashcash or cash equivalents; and (iii) Furnish to the Company appropriate documentation that the person or persons exercising the option, if other than Optionee, have the right to exercise this option. (b) This option shall be deemed to have been exercised with respect to the number of Optioned Shares specified in the Notice Purchase Agreement at such time as the Notice has executed Purchase Agreement for such shares shall have been delivered to the Company. Payment of the option price (and withholding amount) shall immediately become due and shall accompany the NoticePurchase Agreement. As soon thereafter as practical, the Company shall mail or deliver to Optionee or to the other person or persons exercising this option a certificate or certificates representing the shares so purchased and paid for, with the appropriate legends affixed thereto. (c) In no event may this option be exercised for any fractional shares.

Manner of Exercising Option. (a) In order to exercise this option with respect to all or any part of the Optioned Shares for which this option is at the time exercisable, Optionee You (or in the case of exercise after Optionee's Your death, the Optionee's Your executor, administrator, heir or legatee, as the case may be) must take the following actions: (i) Deliver written notice to the Board of Directors of the Company in advance of the exercise date; (ii) Execute and deliver to the President or the Secretary of the Company written notice of exercise (the "Notice"). Any such Notice shall be substantially in the same form as attached Exhibit "A"a Purchase Agreement; (iiiii) Pay the aggregate option price Option Price for the purchased shares in one or more of the following alternative forms: (plus an amount equal to required federal and state tax withholding on A) full payment, in cash or cash equivalents; or (B) any other form which the taxable income recognized Company may in its discretion approve at the time of such exercise) in cashexercise of this option; and (iiiiv) Furnish to the Company appropriate documentation that the person or persons exercising the option, if other than OptioneeYou, have the right to exercise this option. (b) This option Options shall be deemed to have been exercised with respect to the number of Optioned Shares specified in the Notice Purchase Agreement at the end of the calendar year in which the executed Purchase Agreement for such time as the Notice has shares shall have been delivered to the Company. Payment of the option price (and withholding amount) Option Price shall immediately become due and shall accompany the NoticePurchase Agreement. The Market Value Per Share of shares tendered in payment of the Option Price shall be determined as of such date. As soon thereafter as practical, the Company shall mail or deliver to Optionee You or to the other person or persons exercising this option a certificate or certificates (which may be a certificate of interest in any applicable voting trust) representing the shares so purchased and paid for.

Manner of Exercising Option. (a) In order to exercise this option with respect to all or any part of the Optioned Shares for which this option is at the time exercisable, Optionee (or in the case of exercise after Optionee's death, the Optionee's executor, administrator, heir or legatee, as the case may be) must take the following actions: (i) Execute and deliver to the Secretary of the Company written notice a stock purchase agreement in substantially the form of exercise Exhibit A to this Agreement (the "NoticePurchase Agreement"). Any such Notice shall be substantially in the same form as attached Exhibit "A"; (ii) Pay the aggregate option price for the purchased shares (plus an amount equal to required federal and state tax withholding on the taxable income recognized at the time of such exercise) in cash; and , Company common stock, one-year promissory notes bearing six percent (iii6%) Furnish to annual interest, any combination thereof, or such other form of consideration as permitted under the Company appropriate documentation that the person or persons exercising the option, if other than Optionee, have the right to exercise this optionPlan. (b) This option shall be deemed to have been exercised with respect to the number of Optioned Shares specified in the Notice Purchase Agreement at such time as the Notice has executed Purchase Agreement for such shares shall have been delivered to the CompanyCompany and all other conditions of this Section have been fulfilled. Payment of the option price (and withholding amount) shall immediately become due and shall accompany the NoticePurchase Agreement. As soon thereafter as practical, the Company shall mail or deliver to Optionee or to the other person or persons exercising this option a certificate or certificates representing the shares so purchased and paid for.