Common use of Payment of Option Exercise Price Clause in Contracts

Payment of Option Exercise Price. Payment of the exercise price may be made as follows: (i) in cash, (ii) payment in Common Shares that have been held by Employee for at least six months by actual delivery of such Common Shares to the Company or in accordance with the attestation procedure at Section 6.7 of the Plan, valued at the Fair Market Value of such shares on the date of exercise, (iii) by a delivery of a notice in the form acceptable to the Committee that Employee has placed a market sell order (or similar instruction) with a broker with respect to Common Shares then issuable upon exercise of the Option, 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 exercise price (conditioned upon the payment of such net proceeds), or (iv) by a combination of the methods described above.