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Common use of Payment Upon Exercise Clause in Contracts

Payment Upon Exercise. The Administrator shall determine the methods by which payment of the exercise price of an Option shall be made, including, without limitation: (a) Cash, check or wire transfer of immediately available funds; provided that the Company may limit the use of one of the foregoing methods if one or more of the methods below is permitted; (b) If there is a public market for Shares at the time of exercise, unless the Company otherwise determines, (A) delivery (including electronically or telephonically to the extent permitted by the Company) of a notice that the Participant has placed a market sell order with a broker acceptable to the Company with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to deliver promptly to the Company funds sufficient to pay the exercise price, or (B) the Participant’s delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company an amount sufficient to pay the exercise price by cash, wire transfer of immediately available funds or check; provided that such amount is paid to the Company at such time as may be required by the Company; (c) To the extent permitted by the Administrator, delivery (either by actual delivery or attestation) of Shares owned by the Participant valued at their Fair Market Value on the date of delivery; (d) To the extent permitted by the Administrator, surrendering Shares then issuable upon the Option’s exercise valued at their Fair Market Value on the exercise date; (e) To the extent permitted by the Administrator, delivery of a promissory note or any other lawful consideration; or (f) To the extent permitted by the Administrator, any combination of the above payment forms.

Appears in 4 contracts

Samples: Incentive Award Plan (Eargo, Inc.), 2020 Incentive Award Plan (Eargo, Inc.), Merger Agreement (Broadscale Acquisition Corp.)

Payment Upon Exercise. The Administrator shall determine the methods by which payment of Subject to Section 10.8, any Company xxxxxxx xxxxxxx policy (including blackout periods) and Applicable Laws, the exercise price of an Option shall must be made, including, without limitationpaid by: (a) Cashcash, check or wire transfer of immediately available funds; funds or by check payable to the order of the Company, provided that the Company may limit the use of one of the foregoing methods payment forms if one or more of the methods payment forms below is permitted; (b) If if there is a public market for Shares at the time of exercise, unless the Company otherwise determines, (A) delivery (including electronically or telephonically to the extent permitted by the Company) of a notice that the Participant has placed a market sell order with an irrevocable and unconditional undertaking by a broker acceptable to the Company with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to deliver promptly to the Company sufficient funds sufficient to pay the exercise price, or (B) the Participant’s delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company an amount cash or a check sufficient to pay the exercise price by cash, wire transfer of immediately available funds or checkprice; provided that such amount is paid to the Company at such time as may be required by the CompanyAdministrator; (c) To to the extent permitted by the Administrator, delivery (either by actual delivery or attestation) of Shares owned by the Participant valued at their Fair Market Value on the date of deliveryValue; (d) To to the extent permitted by the Administrator, surrendering Shares then issuable upon the Option’s exercise valued at their Fair Market Value on the exercise date; (e) To to the extent permitted by the Administrator, delivery of a promissory note or any other lawful property that the Administrator determines is good and valuable consideration; or (f) To to the extent permitted by the AdministratorCompany, any combination of the above payment formsforms approved by the Administrator.

Appears in 3 contracts

Samples: Merger Agreement (Northern Genesis Acquisition Corp. II), Transaction Agreement (Horizon Acquisition Corp), Business Combination Agreement (Ascendant Digital Acquisition Corp.)

Payment Upon Exercise. The Administrator shall determine the methods by which payment of Subject to Section 10.8, any Company xxxxxxx xxxxxxx policy (including blackout periods) and Applicable Laws, the exercise price of an Option shall must be made, including, without limitationpaid by: (a) Cashcash, check or wire transfer of immediately available funds; funds or by check payable to the order of the Company, provided that the Company may limit the use of one of the foregoing methods payment forms if one or more of the methods payment forms below is permitted; (b) If if there is a public market for Shares at the time of exercise, unless the Company otherwise determines, (A) delivery (including electronically or telephonically to the extent permitted by the Company) of a notice that the Participant has placed a market sell order with an irrevocable and unconditional undertaking by a broker acceptable to the Company with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to deliver promptly to the Company sufficient funds sufficient to pay the exercise price, or (B) the Participant’s delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company an amount cash or a check sufficient to pay the exercise price by cash, wire transfer of immediately available funds or checkprice; provided that such amount is paid to the Company at such time as may be required by the CompanyAdministrator; (c) To to the extent permitted by the Administrator, delivery (either by actual delivery or attestation) of Shares owned by the Participant valued at their Fair Market Value on the date of deliveryfair market value; (d) To to the extent permitted by the Administrator, surrendering Shares then issuable upon the Option’s exercise valued at their Fair Market Value fair market value on the exercise date; (e) To to the extent permitted by the Administrator, delivery of a promissory note or any other lawful property that the Administrator determines is good and valuable consideration; or (f) To to the extent permitted by the AdministratorCompany, any combination of the above payment formsforms approved by the Administrator.

Appears in 2 contracts

Samples: Merger Agreement (Locust Walk Acquisition Corp.), Merger Agreement (FAST Acquisition Corp.)