MODE OF EXERCISE. (a) The Options may be exercised by delivery of an irrevocable notice of exercise in by the Participant to the Company, stating the number of shares being purchased.
(b) The right to receive the Shares of the Company’s Common Stock upon exercise of the Options shall be conditioned upon the delivery by the Participant of payment for shares and withholding taxes incurred by reason of the exercise and certain representations, if requested by the Administrator. Acceptable forms of consideration for exercising the Options may include:
(1) cash, check or wire transfer (denominated in U.S. Dollars);
(2) subject to the Company’s discretion to refuse for any reason and at any time to accept such consideration and subject to any conditions or limitations established by the Administrator, other shares of the Company’s Common Stock held by the Participant which have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Options to be exercised;
(3) delivery of a notice that the Participant has placed a market sell order with a broker with respect to the Shares then issuable upon exercise of the Options, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate payments required; provided, that payment of such proceeds is then made to the Company upon settlement of such sale;
(4) subject to the Company’s discretion to refuse for any reason and at any time to accept such consideration and subject to any conditions or limitations established by the Administrator, cashless “net exercise” arrangement pursuant to which the Company will reduce the number of shares issued upon exercise by the largest whole number of shares having an aggregate Fair Market Value that does not exceed the aggregate exercise price, together with required withholding amounts (if any), provided that the Company shall accept a cash or other payment from the Participant to the extent of any remaining balance not satisfied by such reduction in the number of whole shares to be issued;
(5) such other consideration and method of payment for the issuance of Shares of Common Stock to the extent permitted by Applicable Laws and acceptable to the Administrator; and
(6) any combination of the foregoing methods of payment.
MODE OF EXERCISE. The Option shall be exercised by giving to Holdings written notice stating (a) the number of shares with respect to which the Option is being exercised, (b) the aggregate Exercise Price for such shares, and (c) the method of payment. At the option of the Employee, such aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the Board, which consent may be given or withheld in its sole discretion, by delivery of a promissory note to Holdings payable over a three (3) year period and bearing interest at the prime rate; (iii) with the consent of the Administrator of the Plan, which consent may be given or withheld in its sole discretion, by delivery of shares of Common Stock owned by the Employee having a Fair Market Value (as determined by Section 5 below) equal in amount to the aggregate Exercise Price of the Option being exercised; (iv) by any combination of (i), (ii) and (iii); or (v) with the consent of the Administrator of the Plan, which consent may be given or withheld in its sole discretion, by cancellation of a portion of the Option as determined by the Administrator of the Plan.
MODE OF EXERCISE. The Option shall be exercised by the Participant giving to the Corporation written notice stating (i) the number of shares with respect to which the Option is being exercised, (ii) the exercise price for such shares, and (iii) the method of payment. At the option of the Participant, the Option Price may be paid (i) in cash, (ii) by delivery of Common Stock already owned by the Participant for a period of not less than six (6) months and having a Fair Market Value on the date of such delivery equal to the Option Price, or (iii) by delivery of a combination of cash and such Common Stock having a total Fair Market Value on the date of such delivery equal to the Option Price.
MODE OF EXERCISE. The Option shall be exercised by giving to Holdings written notice stating (a) the number of shares with respect to which the Option is being exercised, (b) the aggregate Exercise Price for such shares, and (c) the method of payment. At the option of the Executive, such aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the board of directors of Holdings (the "Board"), by delivery of a promissory note to Holdings payable over a three (3) year period and bearing interest at the prime rate; (iii) by delivery of shares of Common Stock owned by the Executive having a Market Price (as determined by Section 6 hereof) equal in amount to the aggregate Exercise Price of the Option being exercised; (iv) by any combination of (i), (ii) and (iii); or (v) by cancellation of any portion of the Option, in which case the number of shares of Common Stock to be received shall be computed using the following formula: X = Y x (A - $50) ------------- A Where: X = the number of shares of Common Stock to be issued pursuant to clause (v) above; Y = the number of shares of Common Stock that otherwise would have been issuable in respect of that portion of the Option to be exercised pursuant to clause (v) above if such exercise had been pursuant to clause (i), (ii), (iii) or (iv) above; A = the Market Price of one share of Common Stock on the date of exercise; provided, however, that clauses (iii) and (v) shall be inapplicable if no Market Price is applicable under clause (iv) of Section 6.
MODE OF EXERCISE. The Option may be exercised in whole or in part. Common Stock purchased upon the exercise of the Option shall be paid for in full at the time of such purchase. Such payment shall be made in cash or by wire transfer in immediately available funds in either event denominated in U.S. dollars. Upon receipt of notice of exercise and payment in accordance with procedures to be established by the Board, the Company or its agent shall deliver to the person exercising the Option (or his or her designee) a certificate for such Common Stock.
MODE OF EXERCISE. The Conversion Option shall be exercised by written notice to Amarin, specifying the amount of payment to be received in Ordinary Shares, and shall relate to such part or parts of the Outstanding Amounts as Elan may nominate in the Conversion Option notice. Notice from EPIL or EP Inc may validly be given by the other, and/or by Elan Corp.
MODE OF EXERCISE. The exercise price of Common Stock acquired pursuant to an Option shall be paid in any form of lawful consideration as the Board determines from time to time, including without limitation through net settlement or other method of cashless exercise. The person exercising an Option (or his or her designee) may request a certificate for such Shares.
MODE OF EXERCISE. The Option shall be exercised by giving to the Corporation written notice stating (i) the number of shares with respect to which the Option is being exercised, (ii) the exercise price for such shares, and (iii) the method of payment. At the option of the Participant, the Option Price may be paid: (i) in cash or by check, bank draft or money order payment to the Corporation; (ii) by delivery of Common Stock of the Corporation having a total Fair Market Value on the date of such delivery equal to the Option Price, provided, however, that if the Participant is subject to the requirements of Section 16 of the Exchange Act at the time the Participant chooses to pay for the Participant's shares, the Committee must approve the use of Common Stock to pay the Option Price; or (iii) by any combination of the above methods of payment.
MODE OF EXERCISE. Proprietors who are entitled to exercise an option must do so by serving an option notice on the other proprietors. A form of option Notice is contained in SCHEDULE C.
MODE OF EXERCISE. The Option shall be exercised by giving to Holdings written notice stating (a) the number of shares with respect to which the Option is being exercised, (b) the aggregate Exercise Price for such shares, and (c) the method of payment. At the option of the Employee, such aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the Board of Directors of Holdings (the "Board"), which consent may be given or withheld in its sole discretion, by delivery of a promissory note to Holdings payable over a three (3) year period and bearing interest at the prime rate; (iii) with the consent of the Administrator of the Plan, which consent may be given or withheld in its sole discretion, by delivery of shares of Common Stock owned by the Employee having a Fair Market Value (as determined by Section 7 hereof) equal in amount to the aggregate Exercise Price of the Option being exercised; (iv) by any combination of (i), (ii) and (iii); or (v) with the consent of the Administrator of the Plan, which consent may be given or withheld in its sole discretion, by cancellation of a portion of the Option as determined by the Administrator of the Plan.
3. Section 8 of the Prior Option Agreement is amended to provide as follows:
