Common use of MODE OF EXERCISE Clause in Contracts

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 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 ExecutiveEmployee, such aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the board Board of directors 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) by delivery of shares of Common Stock owned by the Executive Employee having a Fair Market Price Value (as determined by Section 6 5 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 Fair Market Price Value is applicable under clause (iv) of Section 65.

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 ExecutiveUrcis, 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 Urcis 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 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 ExecutiveEmployee, such aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the board Board of directors 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) by delivery of shares of Common Stock owned by the Executive Employee having a Fair Market Price Value (as determined by Section 6 5 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 - $50A-$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 Fair Market Price Value of one share of Common Stock on the date of exercise; provided, however, that clauses (iii) and (v) shall be inapplicable if no Fair Market Price Value is applicable under clause (iv) of Section 65.

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 ExecutiveEmployee, such aggregate Exercise Price may be paid: (i) in cash; (ii) with the consent of the board Board of directors 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) by delivery of shares of Common Stock owned by the Executive Employee having a Fair Market Price Value (as determined by Section 6 5 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 Fair Market Price Value of one share of Common Stock on the date of exercise; provided, however, that clauses (iii) and (v) shall be inapplicable if no Fair Market Price Value is applicable under clause (iv) of Section 65.