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.
Appears in 9 contracts
Samples: Nonqualified Stock Option Agreement (Mortons Restaurant Group Inc), Nonqualified Stock Option Agreement (Bernstein Allen J), Incentive Stock Option Agreement (Bernstein Allen J)
