Common use of Method of Exercising Options Clause in Contracts

Method of Exercising Options. (i) The Option may be exercised by giving written notice, in form substantially as set forth in the Company's Stock Option Exercise Form, to the Company at its principal office, specifying the number of Option Shares to be purchased and accompanied by payment in full of the aggregate purchase price for such Option Shares. Only full shares shall be delivered and any fractional share which might otherwise be deliverable upon exercise of the Option shall be forfeited. (ii) The purchase price for the Option Shares shall be payable, in cash or its equivalent. (iii) Upon receipt of such notice and payment, the Company, within three (3) business days after Exercise, shall deliver or cause to be delivered a certificate or certificates representing the Option Shares with respect to which the Option is exercised. The certificate or certificates for such Option Shares shall be registered in the name of the person exercising the Option (or, if the Employee shall so request in the notice exercising the Option, in the name of the Employee and his spouse, jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. (iv) In the event the Option is exercised by any person after the death or Disability of the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Option Shares purchased upon the exercise of the Option as provided herein shall be fully paid and non-assessable by the Company.

Method of Exercising Options. (i) The Option may be exercised by giving written notice, in form substantially as set forth in the Company's Stock Option Exercise Form, a copy of which is attached hereto as Exhibit B, to the Company at its principal office, specifying the number of Option Shares to be purchased and accompanied by payment in full of the aggregate purchase price for such Option Shares. Only full shares shall be delivered and any fractional share which might otherwise be deliverable upon exercise of the Option shall be forfeited. (ii) The purchase price for the Option Shares shall be payable, payable (A) in cash or its equivalent, or (B) at the discretion of the Committee, in accordance with a cashless exercise program established with a securities brokerage firm, and approved by the Committee. (iii) Upon receipt of such notice and payment, the Company, within three (3) business days after Exercise, shall deliver or cause to be delivered a certificate or certificates representing the Option Shares with respect to which the Option is exercised. The certificate or certificates for such Option Shares shall be registered in the name of the person exercising the Option (or, if the Employee shall so request in the notice exercising the Option, in the name of the Employee and his spouse, jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. (iv) In the event the Option is exercised by any person after the death or Disability of the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Option Shares purchased upon the exercise of the Option as provided herein shall be fully paid and non-assessable by the Company.

Method of Exercising Options. (i) The Option may be exercised by giving written notice, in form substantially as set forth in the Company's Stock Option Exercise Form, , to the Company at its principal office, specifying the number of Option Shares to be purchased and accompanied by payment in full of the aggregate purchase price for such Option Shares. Only full shares shall be delivered and any fractional share which might otherwise be deliverable upon exercise of the Option shall be forfeited. (ii) . The purchase price for the Option Shares shall be payable, in cash or its equivalent. (iiiii) Upon receipt of such notice and payment, the Company, within three (3) business days after Exercise, shall deliver or cause to be delivered a certificate or certificates representing the Option Shares with respect to which the Option is exercised. The certificate or certificates for such Option Shares shall be registered in the name of the person exercising the Option (or, if the Employee shall so request in the notice exercising the Option, in the name of the Employee and his spouse, jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. (iviii) In the event the Option is exercised by any person after the death or Disability of the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Option Shares purchased upon the exercise of the Option as provided herein shall be fully paid and non-assessable by the Company.

Method of Exercising Options. (i) The Option may be exercised by giving written notice, in form substantially as set forth in the Company's Stock Option Exercise Form, a copy of which is attached hereto as Exhibit B, to the Company at its principal office, specifying the number of Option Shares to be purchased and accompanied by payment in full of the aggregate purchase price for such Option Shares. Only full shares shall be delivered and any fractional share which might otherwise be deliverable upon exercise of the Option shall be forfeited. (ii) The purchase price for the Option Shares shall be payable, payable in cash or its equivalent. (iii) Upon receipt of such notice and payment, the Company, within three (3) business days after Exercise, shall deliver or cause to be delivered a certificate or certificates representing the Option Shares with respect to which the Option is exercised. The certificate or certificates for such Option Shares shall be registered in the name of the person exercising the Option (or, if the Employee shall so request in the notice exercising the Option, in the name of the Employee and his spouse, jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. (iv) In the event the Option is exercised by any person after the death or Disability of the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Option Shares purchased upon the exercise of the Option as provided herein shall be fully paid and non-assessable by the Company.

Method of Exercising Options. (i) The Option may be exercised by giving written notice, in form substantially as set forth in the Company's Stock Option Exercise Form, to the Company at its principal office, specifying the number of Option Shares to be purchased and accompanied by payment in full of the aggregate purchase price for such Option Shares. Only full shares shall be delivered and any fractional share which might otherwise be deliverable upon exercise of the Option shall be forfeited. (ii) . The purchase price for the Option Shares shall be payable, in cash or its equivalent. (iiiii) Upon receipt of such notice and payment, the Company, within three (3) business days after Exercise, shall deliver or cause to be delivered a certificate or certificates representing the Option Shares with respect to which the Option is exercised. The certificate or certificates for such Option Shares shall be registered in the name of the person exercising the Option (or, if the Employee shall so request in the notice exercising the Option, in the name of the Employee and his spouse, jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. (iviii) In the event the Option is exercised by any person after the death or Disability of the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Option Shares purchased upon the exercise of the Option as provided herein shall be fully paid and non-assessable by the Company.

Method of Exercising Options. (i) The Option may be exercised by giving written notice, in form substantially as set forth in the Company's Stock Option Exercise Form, , to the Company at its principal office, specifying the number of Option Shares to be purchased and accompanied by payment in full of the aggregate purchase price for such Option Shares. Only full shares shall be delivered and any fractional share which might otherwise be deliverable upon exercise of the Option shall be forfeited. (ii) The purchase price for the Option Shares shall be payable, in cash or its equivalent. (iii) Upon receipt of such notice and payment, the Company, within three (3) business days after Exercise, shall deliver or cause to be delivered a certificate or certificates representing the Option Shares with respect to which the Option is exercised. The certificate or certificates for such Option Shares shall be registered in the name of the person exercising the Option (or, if the Employee shall so request in the notice exercising the Option, in the name of the Employee and his spouse, jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. (iv) In the event the Option is exercised by any person after the death or Disability of the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Option Shares purchased upon the exercise of the Option as provided herein shall be fully paid and non-assessable by the Company.