Satisfaction of Option Price. The Option may be exercised by payment of the option price in cash (including check, bank draft, money order, or wire transfer). In addition, your Option may be exercised using such broker cashless exercise procedure or other procedure as the Company may establish from time to time.
Satisfaction of Option Price. The Grantee shall pay the option price in full at the time of exercise in cash, or, with the consent of the Committee in its sole discretion, by delivering shares of Common Stock already owned by the Grantee and having a fair market value on the date of exercise equal to the option price or a combination of cash and shares of Common Stock [provided, however, that in lieu of payment in full in such manner, a Grantee may with the approval of the Board in its sole discretion, be entitled to pay for the shares purchased upon exercise of the Stock Option by payment to the Company in cash or by certified or bank check a sum equal at least to the par value of the Common Stock, with the remainder of the purchase price satisfied by the issuance of an interest bearing promissory note or notes, in a form and having terms, including rate of interest and collateral security, satisfactory to the Board in its sole discretion]. The Grantee shall also pay the amount of withholding tax due, if any, at the time of exercise. Shares of Common Stock shall not be issued or transferred upon any purported exercise of a Stock Option until the option price and the withholding obligation are fully paid.
Satisfaction of Option Price. (a) Payment of Cash or Common Stock. Your option may be exercised by payment in cash (including cash equivalents such as check, bank draft, money order or wire transfer to the order of the Company), in shares of Common Stock which you have owned for at least six months, or in combination of cash and such shares of Common Stock.
Satisfaction of Option Price. The Optionee shall pay the option price for the Option (a) in cash, (b) by delivering shares of the Companies' Common Stock owned by the Optionee (including Common Stock acquired in connection with the exercise of the Option) and having a fair market value on the date of exercise equal to the option price, (c) through a broker in accordance with procedures permitted by Regulation T of the Federal Reserve Board or (d) by delivery to the Companies or their designated agent of an executed irrevocable option exercise form together with irrevocable instructions to a broker-dealer to sell a sufficient portion of the shares and deliver the sale proceeds directly to the Companies to pay the exercise price. The Companies may determine, in their sole discretion, not to permit payment via the methods set forth in clauses (b) through (d) above to the extent that the use of such payment methods may result in adverse tax or accounting consequences to the Companies or to the Optionee. The Optionee shall pay the option price and the amount of any withholding tax due at the time of payment of the option price. Notwithstanding the foregoing, the exercise price, plus any required federal income tax or other withholding amount, may be paid when the shares underlying the Option are issued. The Companies, in their sole discretion, may permit the Optionee to pay any required federal income tax or other withholding amount in cash or in such other manner permitted by applicable law.
Satisfaction of Option Price
