Common use of Methods of Exercise Clause in Contracts

Methods of Exercise. In the event that the Optionee’s employment with the Company or a Subsidiary has not been terminated and except as contained in this §5 or as may otherwise be agreed by the Optionee and the Company, the Option shall be exercisable only by a written notice in form and substance acceptable to the Company (the “Election Notice”), specifying the number of shares to be purchased and accompanied by payment in cash of the aggregate purchase price for the shares for which the Option is being exercised; provided, that the Optionee shall be entitled to pay the Exercise Price for the shares of Common Stock for which the Option is being exercised by surrendering a number of such shares having a Fair Market Value equal to the Exercise Price required to be paid. Thereupon, the Company shall issue to the Optionee such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) A Where X = the number of shares of Common Stock to be issued to the Optionee pursuant to this §5; Y = the number of shares of Common Stock currently being exercised under this Option; A = the Fair Market Value for the Common Stock as of the date of the exercise; and B = the Exercise Price in effect under this Option at the time the exercise is made pursuant to this §5.

Methods of Exercise. In the event that the Optionee’s employment with 's service as a consultant under the Company or a Subsidiary Consulting Agreement has not been terminated and except as contained in this §5 ss.5 or as may otherwise be agreed by the Optionee and the Company, the Option shall be exercisable only by a written notice in form and substance acceptable to the Company (the “"Election Notice”"), specifying the number of shares to be purchased and accompanied by payment in cash of the aggregate purchase price for the shares for which the Option is being exercised; provided, that the Optionee shall be entitled to pay the Exercise Price for the shares of Common Stock for which the Option is being exercised by surrendering a number of such shares having a Fair Market Value equal to the Exercise Price required to be paid. Thereupon, the Company shall issue to the Optionee such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) ------- A Where X = the number of shares of Common Stock to be issued to the Optionee pursuant to this §5ss.5; Y = the number of shares of Common Stock currently being exercised issuable under this Option; ; A = the Fair Market Value for the Common Stock as of the date of the exercise; and and B = the Exercise Price in effect under this Option at the time the exercise is made pursuant to this §5ss.5.

Methods of Exercise. In the event that the Optionee’s 's employment with the Company or a Subsidiary has not been terminated and except as contained in this §5 Section5 or as may otherwise be agreed by the Optionee and the Company, the Option shall be exercisable only by a written notice in form and substance acceptable to the Company (the “"Election Notice”"), specifying the number of shares to be purchased and accompanied by payment in cash of the aggregate purchase price for the shares for which the Option is being exercised; provided, that the Optionee shall be entitled to pay the Exercise Price for the shares of Common Stock for which the Option is being exercised by surrendering a number of such shares having a Fair Market Value equal to the Exercise Price required to be paid. Thereupon, the Company shall issue to the Optionee such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) ------- A Where X = the number of shares of Common Stock to be issued to the Optionee pursuant to this §Section 5; Y = the number of shares of Common Stock currently being exercised issuable under this Option; ; A = the Fair Market Value for the Common Stock as of the date of the exercise; and and B = the Exercise Price in effect under this Option at the time the exercise is made pursuant to this §Section 5.

Methods of Exercise. In the event that the Optionee’s employment with 's service as a consultant under the Company or a Subsidiary Consulting Agreement has not been terminated and except as contained in this §5 ss.6 or as may otherwise be agreed by the Optionee and the Company, the Option shall be exercisable only by a written notice in form and substance acceptable to the Company (the “"Election Notice”"), specifying the number of shares to be purchased and accompanied by payment in cash of the aggregate purchase price for the shares for which the Option is being exercised; provided, that the Optionee shall be entitled to pay the Exercise Price for the shares of Common Stock for which the Option is being exercised by surrendering a number of such shares having a Fair Market Value equal to the Exercise Price required to be paid. Thereupon, the Company shall issue to the Optionee such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: X = Y (A-B) ------- A Where X = the number of shares of Common Stock to be issued to the Optionee pursuant to this §5ss.6; Y = the number of shares of Common Stock currently being exercised under this Option; ; A = the Fair Market Value for the Common Stock as of the date of the exercise; and and B = the Exercise Price in effect under this Option at the time the exercise is made pursuant to this §5ss.6.