Common use of Medium and Time of Payment Clause in Contracts

Medium and Time of Payment. The exercise price for Shares shall be paid in United States dollars in cash on or prior to the date on which the Option is exercised with respect to such Shares. Payment in full shall be required prior to the issuance of any Shares pursuant to the Option. In addition, prior to or concurrently with delivery to the Holder of a certificate representing such Shares, the Holder shall pay any and all amounts necessary to satisfy applicable federal, state and local tax requirements (including withholding requirements).