Common use of Surrender of Stock Clause in Contracts

Surrender of Stock. By surrendering ownership of Shares that are already owned by the Optionee free and clear of any restriction or limitation, unless the Company specifically agrees to accept such Shares subject to a restriction or limitation. In such cases, the Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value on the date of the applicable exercise of the option. Without the specific approval of the Committee, the Optionee shall not be permitted to surrender ownership of Shares in payment of the Purchase Price (or withholding) if such action would cause the Company to recognize compensation expense (or additional compensation expense) with repect to the option for financial reporting purposes that otherwise would not have occurred.

Surrender of Stock. By surrendering surrendering, or attesting to the ownership of of, Shares that are already owned by the Optionee Participant free and clear of any restriction or limitation, unless the Company Committee specifically agrees to accept such Shares subject to a such restriction or limitation. In such cases, the Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value on the date of the applicable exercise of the optionOption. Without the specific approval of the Committee, the Optionee The Participant shall not be permitted surrender, or attest to surrender the ownership of of, Shares in payment of the Purchase Price (or withholding) if such action would cause the Company to recognize compensation expense (or additional compensation expense) with repect respect to the this option for financial reporting purposes that otherwise would not have occurred.

Surrender of Stock. By surrendering surrendering, or attesting to the ownership of of, Shares that are already owned by the Optionee Participant free and clear of any restriction or limitation, unless the Company Committee specifically agrees to accept such Shares subject to a such restriction or limitation. In such cases, the Such Shares shall be surrendered to the Company in good form for transfer and shall be valued by the Company at their Fair Market Value on the date of the applicable exercise of the optionOption. Without the specific approval of the Committee, the Optionee The Participant shall not be permitted surrender, or attest to surrender the ownership of of, Shares in payment of the Purchase Price (or withholding) if such action would cause the Company to recognize compensation expense (or additional compensation expense) with repect respect to the option this Option for financial reporting purposes that otherwise would not have occurred.

Surrender of Stock. By surrendering ownership of Shares that are already owned by the Optionee free and clear of any restriction or limitation, unless the Company specifically agrees to accept such Shares subject to a restriction or limitation. In such cases, the Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value on the date of the applicable exercise of the option. Without the specific approval of the Committee, the Optionee shall not be permitted to surrender ownership of Shares in payment of the Purchase Price (or withholding) if such action would cause the Company to recognize compensation expense (or additional compensation expense) with repect respect to the option for financial reporting purposes that otherwise would not have occurred.