Common use of Repayment of Spread on Exercised Option Clause in Contracts

Repayment of Spread on Exercised Option. If a Forfeiture Event occurs during the Optionee’s Employment or within three years following Optionee’s termination of Employment, the Committee may, but is not obligated to, require the Optionee to pay to the Corporation an amount in cash up to (but not in excess of) the difference between the Xxxxx Xxxxx and market price of the Option on the date of exercise with respect to any shares for which the Option has been exercised (the “Forfeited Spread Amount”). Any Forfeited Spread Amount shall be paid by the Participant within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount.

Repayment of Spread on Exercised Option. If a Forfeiture Event occurs during the Optionee’s Employment or within three two years following Optionee’s termination of Employment, the Committee may, but is not obligated to, require the Optionee to pay to the Corporation an amount in cash up to (but not in excess of) the difference between the Xxxxx Xxxxx and market price of the Option on the date of exercise with respect to any shares for which the Option has been exercised (the “Forfeited Spread Amount”). Any Forfeited Spread Amount shall be paid by the Participant within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount.

Repayment of Spread on Exercised Option. If a Forfeiture Event occurs during the OptioneeParticipant’s Employment or within three two years following OptioneeParticipant’s termination of Employment, the Committee may, but is not obligated to, require the Optionee Participant to pay to the Corporation an amount in cash up to (but not in excess of) the difference between the Xxxxx Xxxxx and market price of the Option on the date of exercise with respect to any shares for which the Option has been exercised (the “Forfeited Spread Amount”). Any Forfeited Spread Amount shall be paid by the Participant within sixty (60) 60 days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount.

Repayment of Spread on Exercised Option. If a Forfeiture Event occurs during the Optionee’s Employment or within three years following Optionee’s termination of Employment, the Committee may, but is not obligated to, require the Optionee to pay to the Corporation an amount in cash up to (but not in excess of) the difference between the Xxxxx Xxxxx and market price of the Option on the date of exercise with respect to any shares for which the Option has been exercised (the “Forfeited Spread Amount”). Any Forfeited Spread Amount shall be paid by the Participant Optionee within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount.

Repayment of Spread on Exercised Option. If a Forfeiture Event occurs during the Optionee’s 's Employment or within three years following Optionee’s 's termination of Employment, the Committee may, but is not obligated to, require the Optionee to pay to the Corporation an amount in cash up to (but not in excess of) the difference between the Xxxxx Xxxxx and market price of the Option on the date of exercise with respect to any shares for which the Option has been exercised (the “Forfeited Spread Amount”). Any Forfeited Spread Amount shall be paid by the Participant within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount.