Examples of Exercisable Shares in a sentence
The Optionee may exercise the Option at any time with respect to all or any part of the Exercisable Shares by giving the Secretary of the Company written notice of intent to exercise.
If the Optionee fails to pay for any of the Exercisable Shares specified in such notice or fails to accept delivery thereof, the Optionee's right to purchase such Exercisable Shares may be terminated by the Company.
Full payment (in U.S. Dollars) by the Optionee of the Exercise Price for the Exercisable Shares purchased shall be made on or before the exercise date specified in the notice of exercise in cash, or, with the prior written consent of the Board, in whole or in part through the surrender of previously acquired shares of Common Stock (valued at their fair market value on the exercise date).
The notice of exercise shall specify the number of Exercisable Shares as to which the Option is to be exercised and the date of exercise thereof, which date shall be at least five days after the giving of such notice unless an earlier time shall have been mutually agreed upon.
The date specified in the Optionee's notice as the date of exercise shall be deemed the date of exercise of the Option, provided that payment in full for the Exercisable Shares to be purchased upon such exercise shall have been received by such date.