Common use of Notice; Payment Clause in Contracts

Notice; Payment. Subject to the terms and conditions set forth in this Agreement, including vesting of the Option in Section 2 of this Agreement and termination of the Option in Section 4 of this Agreement, and the Plan, the Option may be exercised, in whole or in part, at any time and from time to time, by delivery to the Company of written notice of the exercise of the Option, in substantially the form as provided by the Company, stating the number of Option Shares being purchased (the “Purchased Shares”), and accompanied by payment in full of the total aggregate Exercise Price of the Purchased Shares. The Exercise Price shall be payable in full in any one of the following alternative forms: (a) Full payment in cash, personal check or certified bank or cashier’s check; (b) Any broker assisted cashless exercise procedure which is acceptable to the Company; or (c) Cashless net exercise. Upon a cashless net exercise, Optionee shall receive the number of shares of Common Stock equal to a number (as determined below) of shares of Common Stock computed using the following formula: X = Y – [ (A)(Y) ] Where X = the number of shares of Common Stock to be issued to Optionee. Y = the number of Purchased Shares. A = the Exercise Price. B = the Fair Market Value of one share of Common Stock on the date of exercise.

Notice; Payment. Subject to the terms and conditions set forth in this Agreement, including vesting of the Option in Section 2 of this Agreement and termination of the Option in Section 4 of this Agreement, and the Plan, the Option may be exercised, in whole or in part, at any time and from time to time, by delivery to the Company of written notice of the exercise of the Option, in substantially the form as provided by the Company, stating the number of Option Shares being purchased (the “Purchased Shares”), and accompanied by payment in full of the total aggregate Exercise Price of the Purchased Shares. The Exercise Price shall be payable in full in any one of the following alternative forms: (a) Full payment in cash, personal check or certified bank or cashier’s check; (b) Any broker assisted cashless exercise procedure which is acceptable to the Company; or (c) Cashless net exercise. Upon a cashless net exercise, Optionee shall receive the number of shares of Common Stock equal to a number (as determined below) of shares of Common Stock computed using the following formula: X = Y – [ (A)(Y) ] Where X = the number of shares of Common Stock to be issued to Optionee. Y = the number of Purchased Shares. A = the Exercise Price. B = the Fair Market Value of one share of Common Stock on the date of exercise.