Procedure for Exercise of Option. This Option may be exercised by delivery of written notice to the Company at its executive offices, addressed to the attention of its Secretary. Such notice: (a) shall be signed by the Participant or his or her legal representative; (b) shall specify the number of full Shares then elected to be purchased with respect to the Option; (c) unless a Registration Statement under the Securities Act of 1933 is in effect with respect to the Shares to be purchased, shall contain a representation of the Participant that the Shares are being acquired by him or her for investment and with no present intention of selling or transferring them, and that he or she will not sell or otherwise transfer the Shares except in compliance with all applicable securities laws and requirements of any stock exchange upon which the Shares may then be listed; and (d) shall be accompanied by payment in full of the Option Price of the Shares to be purchased, and the Participant's copy of this Agreement. The Option Price upon exercise of this Option shall be payable to the Company in full either: (a) in cash or its equivalent (acceptable cash equivalents shall be determined at the sole discretion of the Committee); or (b) by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the total Option Price (provided that the Shares which are tendered must have been held by the Participant for at least six (6) months prior to their tender to satisfy the Option Price); or (c), by a combination of (a) and (b). The Participant may also be permitted to exercise pursuant to a "cashless exercise" procedure as permitted under the Federal Reserve Board's Regulation T, subject to securities law restrictions. As promptly as practicable after receipt of notice and payment upon exercise, the Company shall cause to be issued and delivered to the Participant or his or her legal representative, as the case may be, certificates for the Shares so purchased, which may, if appropriate, be endorsed with appropriate restrictive legends. The Share certificates shall be issued in the Participant's name (or, at the discretion of the Participant, jointly in the names of the Participant and the Participant's spouse). The Company shall maintain a record of all information pertaining to the Participant's rights under this Agreement, including the number of Shares for which their Option is exercisable. If the Option shall have been exercised in full, this Agreement shall ...
Procedure for Exercise of Option. The Option may be exercised only by execution and delivery by the Optionee to the Corporation of an exercise form or forms prescribed by the Stock Compensation Subcommittee that administers the Plan (the “Stock Compensation Committee”). Each exercise form must set forth the number of whole shares of Common Stock as to which the Option is exercised, must be dated and signed by the person exercising the Option and must be accompanied by cash in United States dollars (including check, bank draft or money order or cash forwarded through a broker or other agent-sponsored exercise or financing program), shares of already-owned Common Stock at the fair market value of such shares on the date of exercise, or any combination of cash and such shares, in the amount of the full purchase price for the number of shares of Common Stock as to which the Option is exercised; provided, however, that any portion of the option price representing a fraction of a share shall be paid by the Optionee in cash and no shares of the Common Stock which have been held for less than six (6) months may be delivered in payment of the option price. The Corporation shall advise any person exercising the Option in whole or in part with shares of already-owned Common Stock as to the amount of any cash required to be paid to the Corporation representing a fraction of a share, and such person will be required to pay any such cash directly to the Corporation before any distribution of certificates representing shares of Common Stock will be made. The person exercising the Option should deliver an executed Assignment Separate from Certificate with respect to each stock certificate delivered in payment of the option price. The signature on all Assignments Separate from Certificate must be guaranteed by a commercial bank or trust company, by a firm having membership in the New York Stock Exchange, Inc., the American Stock Exchange, Inc. or the National Association of Securities Dealers, Inc. or by any other person acceptable to the Corporation’s Transfer Agent. The person exercising the Option may choose to exercise the Option by participating in a broker or other agent-sponsored exercise or financing program. If the person so chooses, the Corporation will deliver only the shares of the Common Stock acquired pursuant to the exercise of the Option to the broker or other agent, as designated by the person exercising the Option, and will cooperate with all other reasonable procedures of the broker or o...
Procedure for Exercise of Option. The Option may be exercised only by (a) execution and delivery by the Holder to the Company of an exercise form or forms prescribed by the Committee; and (b) surrender of this Agreement at the principal office of the Company. Each exercise form must set forth the number of shares of Common Stock for which the Option is exercised and must be dated and signed by the person exercising the Option.
Procedure for Exercise of Option. Subject to the provisions of Article 2 hereof, Optionee may exercise the option specified herein at each time specified herein by complying with the provisions of paragraph 10 of the Plan.
Procedure for Exercise of Option. At least six (6) months prior to Initiation of Phase III Studies for each Product, BI shall provide Vitae with a budget for the estimated Development costs for such Phase III Studies. To exercise its Co-Development Option, Vitae shall notify BI in writing at least thirty (30) days prior to the Initiation of Phase III Studies that it is exercising its Co-Development Option; such written notice shall also specify the percentage of expenses that Vitae will be co-funding.
Procedure for Exercise of Option. (a) The Option may be exercised only by delivery by the Optionee of written notice to the Company in the form contained in Exhibit B attached hereto. Each exercise form must set forth the number of Listed Shares as to which the Option is exercised, must be dated and signed by the person exercising the Option and must be accompanied by (i) a cash payment (which may be made by means of a check, bank draft or money order) in United States dollars, (ii) shares of already-owned Listed Shares at the fair market value of such shares on the date of exercise, (iii) the optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the purchase price; provided that in the event the optionee chooses to pay the purchase price as so provided, the optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition of such payment procedure, or (iv) any combination of cash and such shares, in the amount of the full purchase price for the number of Listed Shares as to which the Option is exercised; provided, however, that any portion of -------- ------- the option price representing a fraction of a share shall be paid by the Optionee in cash and no already-owned Listed Shares which have been held for less than six months may be delivered in payment of the option price. The Optionee may choose to exercise an Option by participating in a broker or other agent-sponsored exercise or financing program. If the Optionee so chooses, the Company will deliver the Listed Shares acquired pursuant to the exercise of the Option to the broker or other agent, as designated by the Optionee, and will cooperate with all other reasonable procedures of the broker or other agent to permit participation by the Optionee in the sponsored exercise or financing program. Notwithstanding any procedures of the broker or other agent-sponsored exercise or financing program, if the option price is paid in cash, no exercise of an Option shall be deemed to occur and no Listed Shares will be issued until the Company has received full payment in cash (including check, bank draft, or money order) for the option price from the broker or other agent. The Company shall advise any person exercising the Option in whole or in part with shares of already-owned Li...
Procedure for Exercise of Option. After the Agency’s final approval of the Construction Documents for a Project containing For-Sale Residential Units and Developer’s determination of the purchase prices that Developer will offer the Residential Units to the public, but in no event earlier than one hundred twenty (120) days or later than sixty (60) days before Vertical Developer begins to offer the Residential Units for sale, Vertical Developer will deliver to the Agency a written notice informing the Agency of such completion and of the purchase prices for the Residential Units (provided, the Agency’s right to acquire Residential Units originally designated For-Rent but subsequently offered For-Sale shall arise when the Agency Director approves any such conversion and is notified of the purchase prices). The notice will include a description of the Residential Units approved (including number of bedrooms and amenities), and a preliminary title report covering the Residential Units issued by the Title Company (the “Title Report”), together with copies of all documents relating to title exceptions showing in the Title Report. The Agency will have ninety (90) days after receipt of the notice (or approval of the conversion from a For-Rent to a For-Sale Residential Unit) and other required information to exercise the Option by written notice to Vertical Developer, specifying in its notice the Residential Units it intends to purchase, which shall be the Option Units with respect to the Project.
Procedure for Exercise of Option. At least ****prior to Initiation of Phase III Studies for each Product, BI shall provide Vitae with a budget for the estimated Development costs for such Phase III Studies. To exercise its Co-Development Option, Vitae shall notify BI in writing at least ****prior to the Initiation of Phase III Studies that it is exercising its Co-Development Option; such written notice shall also specify the percentage of expenses that Vitae will be co-funding.
Procedure for Exercise of Option. During the Option -------------------------------- Exercise Period, this Option may be exercised by the Holder by surrendering this Option to the Company, or its agent, with the Election to Exercise Form attached to this Option duly completed and executed, accompanied by payment in full to the Company of the Exercise Price in effect at the time of such exercise for each Option Share with respect to which this Option is being exercised. Such Exercise Price shall be paid in full, by delivery of cash or check payable in United States currency to the order of the Company or payment of the Exercise Price by (i) the assignment and transfer by Holder to the Company of outstanding shares of Common Stock theretofore held by Holder or (ii) the surrender of that number of exercisable Options necessary (based on the amount that the aggregate fair market value of the Option Shares covered by the Options being surrendered exceeds the aggregate Exercise Price with respect to such Option Shares), to pay the Exercise Price with respect to those Options being exercised. The date on
Procedure for Exercise of Option. Employee shall exercise the Option by written notice to the Company, which notice shall specify the number of whole shares to be purchased and the effective date of the exercise (which shall be a date coinciding with or following the Company’s receipt of such notice), and which shall be accompanied by a personal or cashier’s check in full payment of the option price for such shares or by surrender of shares of the Company’s common stock with a fair market value equal to the option price for such shares. Until the Company receives such proper notice and payment, the Employee shall have no rights in the optioned shares of stock. Employee agrees that none of the shares purchased by him under this Option shall be resold, except in accordance with Securities and Exchange Commission Rule 144, if applicable.
