Common use of Receipt of Stock; Book Entry Procedures Clause in Contracts

Receipt of Stock; Book Entry Procedures. After receiving a Notice of Exercise, unless otherwise determined by the Committee or required by any applicable law, rule or regulation, the Company shall record in the books of the Company (or, as applicable, its transfer agent or stock plan administrator) the number of Shares owned by the Optionee (or as applicable, his beneficiaries) and shall deliver to the Optionee certificates evidencing Shares issued in connection with any Vested Option.

Receipt of Stock; Book Entry Procedures. After receiving a Notice of Exercise, unless otherwise determined by the Committee or required by any applicable law, rule or regulation, the Company shall record in the books of the Company (or, as applicable, its transfer agent or stock plan administrator) the number of Shares owned by the Optionee (or as applicable, his beneficiaries) and shall not deliver to the Optionee certificates evidencing Shares issued in connection with any Vested Option.