Cashless Exercise Procedure definition

Cashless Exercise Procedure means delivery to the Company by a Participant exercising an Option of a properly executed exercise notice, acceptable to the Company, together with irrevocable instructions to the Participant's broker to deliver to the Company sufficient cash to pay the exercise price and any applicable income and employment withholding taxes, in accordance with a written agreement between the Company and the brokerage firm.
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Cashless Exercise Procedure means delivery to the Company by a Participant exercising an Option of a properly executed exercise notice, acceptable to the Company, together with irrevocable instructions to the Participant’s broker to deliver to the Company sufficient cash to pay the exercise price and any applicable income and employment withholding taxes, in accordance with a written agreement between the Company and the brokerage firm.
Sample 1Sample 2Sample 3
Cashless Exercise Procedure means delivery to the Corporation by a Participant exercising an Option of a properly executed exercise notice, acceptable to the Corporation, together with irrevocable instructions to the Participant’s broker to deliver to the Corporation sufficient cash to pay the exercise price and any applicable income and employment withholding taxes, in accordance with a written agreement between the Corporation and the brokerage firm.
Sample 1Sample 2

Examples of Cashless Exercise Procedure in a sentence

  • Upon request, the Company shall deliver to the Optionee a certificate or certificates for the number of Option Shares (reduced, if applicable, by the number of Option Shares sold on the Option Exercise Date pursuant to the Cashless Exercise Procedure) purchased by the Optionee, registered in the name of the Optionee.

  • A Participant may use the Cashless Exercise Procedure or may tender previously acquired shares of Common Stock that have been held at least six months to satisfy the withholding obligation in whole or in part, such shares being valued for such purpose at Fair Market Value; provided that the Company shall not withhold from exercise more shares than are necessary to satisfy the established requirements of federal, state and local tax withholding obligations.

  • At the discretion of the Committee, as set forth in a Participant's Option Agreement, the purchase price may be paid by using the Cashless Exercise Procedure if the relevant agreement between the Company and the Participant's broker referred to in the definition of such term has been executed by the Company and such broker.

  • Notwithstanding the terms of an Award Agreement, the tax treatment available pursuant to Section 422 of the Code upon the exercise of an Incentive Stock Option may not be available if the Optionee uses shares of Common Stock acquired through the exercise of an Incentive Stock Option to pay the Option Price of another Option or Incentive Stock Option, or if the Optionee exercises an Incentive Stock Option through a Cashless Exercise Procedure.

  • Conclusions High attendance and positive feedback from attendees indicated a valuable contribution made by the SD event to support lecturing staff and Curriculum Managers in the achievement of their personal and department objectives.

  • Subject to and as otherwise specified in Clause 17 above, we may give notice to you at either the e-mail or postal address you provide to us when placing an order.

  • If you do not elect to utilise the Cashless Exercise Procedure but fail to include a cheque for all or part of the option exercise price, you will be deemed to have elected to use the Cashless Exercise Procedure (subject to the Terms and Conditions) in respect of the shortfall.

  • The Plan Administrator may permit an Optionee to elect to pay the Option Price upon the exercise of a Stock Option through a Cashless Exercise Procedure by irrevocably authorizing a broker to sell shares of Common Stock (or a sufficient portion of the shares) acquired upon exercise of the Incentive Stock Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire Option Price and any tax withholding resulting from such exercise.

  • Exercise of the Option shall be by notice given in the form authorized by the Company (whether written or electronic) or compliance with such procedures as the Company may establish for notifying the Company of the exercise of the Option prior to the termination of the Option as set forth in Section 6, and, except to the extent the Cashless Exercise Procedure is utilized, accompanied by full payment of the aggregate Exercise Price for the number of shares of Stock being purchased.

  • The purchase price may also be paid by using the Cashless Exercise Procedure if the relevant agreement between the Company and the Participant’s broker referred to in the definition of such term has been executed by the Company and such broker.

Related to Cashless Exercise Procedure

  • Cashless Exercise means a Cashless Exercise as defined in Section 6.3(b)(i).

  • Cashless Exercise Ratio means a fraction, the numerator of which is the excess of the Current Market Value per share of Common Stock on the Exercise Date over the Exercise Price per share as of the Exercise Date and the denominator of which is the Current Market Value per share of the Common Stock on the Exercise Date.

  • Initial Exercise Price shall have the meaning set forth in Section 2.4.1.

  • Option Exercise Price means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Net Exercise means a Net Exercise as defined in Section 6.3(b)(iii).

  • Warrant Exercise Price means $0.05 per share.

  • Exercise Price means the initial exercise price or the adjusted exercise price, depending on the context.

  • Option Exercise Period has the meaning set forth in Section 6.4.

  • Option Exercise Notice has the meaning set forth in Section 2.4(c).

  • Cash Exercise with respect to Warrant Shares; and/or

  • Initial Warrant Exercise Date means __________, 1997.

  • Aggregate Option Exercise Price means, as of any date of determination, the sum of the exercise prices payable upon exercise in full of all Vested Options held by all Optionholders immediately prior to the Effective Time, based on the Estimated Merger Consideration or the Final Adjusted Merger Consideration, as applicable.

  • Option Exercise Date has the meaning specified in Section 2.1.

  • New Exercise Date means a new Exercise Date if the Administrator shortens any Offering Period then in progress.

  • Exercise Payment means the amount of money equal to the Exercise Price multiplied by the number of Optioned Shares specified in the Notice of Exercise;

  • Total Exercise Price shall have the meaning set forth in Section 4(a) hereof.

  • Minimum Exercise Amount means the Minimum Exercise Amount as specified in § 1 of the Product and Underlying Data.

  • Exercise Notice has the meaning set forth in Section 3.2(1);

  • Exercise Form means an Exercise Form in the form annexed hereto as Exhibit A.

  • Notice of Exercise means a notice in writing addressed to the Company at its address first recited, which notice shall specify therein the number of Optioned Shares in respect of which the Option is being exercised;

  • Option Exchange Program means a program whereby outstanding Options are surrendered in exchange for Options with a lower exercise price.

  • Nonstatutory Option means a stock option not described in Sections 422(b) or 423(b) of the Code.

  • Initial Exercise Date shall have the meaning ascribed to such term in the Preamble.

  • Exercise Price Per Share hereinafter “Exercise Price” means the exercise price with respect to all Shares acquired pursuant to each exercise of the Option).

  • Demand Exercise Notice has the meaning set forth in Section 2.1(a).