Common use of Method of Exercise and Payment Clause in Contracts

Method of Exercise and Payment. To exercise the Option, the Optionee must deliver a written notice, in such manner and form as the Company may require, to the Company’s corporate secretary or the secretary’s designee on any business day. The notice must specify the number of the Option Shares the Optionee wants to acquire, the date of grant of the Option, the aggregate purchase price for the shares with respect to which the Option is exercised, and the effective date of exercise (no earlier than the date of receipt of such notice by the Company). The notice must be accompanied by payment, made in the manner set forth in the Plan, of (i) the aggregate purchase price for the Option Shares to be acquired, and (ii) unless the Plan administrator determines otherwise, the amount of any taxes (including, but not limited to, any FICA, FUTA, and similar taxes) required to be withheld and paid by the Company or its subsidiary in connection with the exercise of the Option, as determined by the Plan administrator.

Method of Exercise and Payment. To exercise the Option, the Optionee must deliver a written notice, in such manner and form as the Company may require, to the Company’s corporate secretary or the secretary’s designee on any business day. The notice must specify the number of the Option Shares the Optionee wants to acquire, the date of grant of the Option, the aggregate purchase price for the shares with respect to which the Option is exercised, and the effective date of exercise (no earlier than the date of receipt of such notice by the Company). The notice must be accompanied by payment, made in the manner set forth in the Plan, of (i) the aggregate purchase price for the Option Shares to be acquired, and (ii) unless the Committee administering the Plan administrator determines otherwise, the amount of any taxes (including, but not limited to, any FICA, FUTA, and similar taxes) required to be withheld and paid by the Company or its subsidiary in connection with the exercise of the Option, as determined by the Plan administratorCommittee.