Common use of Purchase Price; Method of Payment Clause in Contracts

Purchase Price; Method of Payment. The purchase price per share of Restricted Stock shall be $1.00. The purchase price may be paid (i) in cash or its equivalent, (ii) shares of unrestricted Stock owned by the Grantee for greater than six (6) months, the Fair Market Value of which on the purchase date is equal to the purchase price of the Restricted Stock, (iii) to the extent permitted by law, cancellation of indebtedness, (iv) services rendered or (v) any combination of the foregoing. In the absence of any other form of payment tendered by the Grantee, the purchase price shall be paid by services rendered.