Common use of Method of Exercise of the Option Clause in Contracts

Method of Exercise of the Option. (a) The Participant may exercise the Option, to the extent then exercisable, by delivering a written notice of exercise to the Company, setting forth the number of shares of Stock with respect to which the Option is to be exercised, accompanied by full payment for the Stock. (b) At the time the Participant exercises the Option, the Participant shall pay the Option Price of the shares of Stock as to which the Option is being exercised and applicable taxes (i) in United States dollars by personal check, bank draft or money order or the proceeds from a third-party broker-assisted “cashless” exercise of the Option; (ii) subject to such terms, conditions and limitations as the Compensation Committee of the Board of Directors of the Company (“Committee”) may prescribe, by tendering (either by actual delivery or attestation) unencumbered Previously Acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the total Option Price of the shares of Stock for which the Option is so exercised; (iii) by any other means the Committee may have determined to be consistent with the Plan’s purpose and applicable law or (iv) by a combination of the consideration provided for in the foregoing clauses (i), (ii) and (iii).

Method of Exercise of the Option. (a) The Participant may exercise the Option, to the extent then exercisable, by delivering a written or electronic notice of exercise to the Company, setting forth Stock Plan Administrator in a form satisfactory to the Committee specifying the number of shares of Stock Shares with respect to which the Option is being exercised and payment to be exercised, accompanied by full payment for the StockCompany of the aggregate Option Price in accordance with Section 3(b). (b) At the time the Participant exercises the Option, the Participant shall pay the Option Price of the shares of Stock Shares as to which the Option is being exercised and applicable taxes (i) in United States dollars by personal checkto the Company, bank draft or money order or the proceeds from a third-party broker-assisted “cashless” exercise of the Option; (ii) subject to such terms, conditions and limitations as the Compensation Committee of the Board of Directors of the Company (“Committee”) may prescribe, : (i) in cash or its equivalent; (ii) by tendering (either by actual delivery or attestation) unencumbered Previously Acquired Shares previously acquired by the Participant exercising such Option having an aggregate Fair Market Value at the time of exercise equal to the total Option Price of the shares of Stock for which the Option is so exercisedPrice; (iii) by any other means a cashless (broker-assisted) exercise that complies with all applicable laws; (iv) withholding of Shares otherwise deliverable to the Committee may have determined Participant pursuant to be consistent with the Plan’s purpose and applicable law Option having an aggregate Fair Market Value at the time of exercise equal to the total Option Price; or (ivv) by a combination of the consideration provided for in the foregoing clauses (i), (ii) and ), (iii), and (iv). (c) The Company’s obligation to deliver the Shares to which the Participant is entitled upon exercise of the Option is conditioned on the Participant’s satisfaction in full to the Company of the aggregate Option Price of those Shares and the required tax withholding related to such exercise.