Exercise procedure definition

Exercise procedure. A Beneficiary wishing to exercise the Options vested, according to the Exercise Dates and the limits set forth in subsections 2.1 and 2.2 above, shall notify Terra twenty (20) business days prior to the Exercise Date pursuant to Article Five below, as to the number of Options the Beneficiary proposes to exercise. Exercised Options shall be paid out in cash differences and the Beneficiary shall be given Stock or a cash amount according to the settlement procedure provided in subsection 2.4 below; the option between one form of payment or the other shall rest exclusively with TERRA. For these purposes, the Beneficiary shall specify in the notice the securities account in which he wishes the Stock to be deposited, where applicable, as well as the bank account to which he wishes the cash amount to be transferred and, where applicable, the cash balance resulting from the pay-out in Stock.
Sample 1

Examples of Exercise procedure in a sentence

  • The Committee, in its sole discretion, may provide in an Award Agreement or otherwise (subject to such terms, conditions, provisions and restrictions set forth therein) that: (a) payment of all or any part of the aggregate Exercise Price of a Stock Option may be made by tendering (actually or by attestation) Shares already owned by the Participant; or (b) the Stock Option may be exercised through a Net Exercise procedure.

  • The Automatic Exercise procedure is provided as a convenience and as a protection against inadvertent expiration of an Option.

  • Within two (2) Trading Days following an exercise of this Warrant as aforesaid (the “Price Delivery Date”), the Holder shall deliver payment to the Warrant Agent or the Company of an amount equal to the aggregate Exercise Price of the Warrant Shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to the Cashless Exercise procedure specified in Section 2(c) below.

  • If, on the date on which an SAR would otherwise terminate or expire, the SAR by its terms remains exercisable immediately prior to such termination or expiration and, if so exercised, would result in a payment to the holder of such SAR, then any portion of such SAR which has not previously been exercised shall automatically be deemed to be exercised as of such date with respect to such portion pursuant to a Net Exercise procedure and withholding of Shares as described in Section 17.2.

  • In addition, at the election of the Optionee, the Optionee may satisfy his obligations under this Section by utilizing the Net Exercise procedure described in Section 3(d).

  • If the Company so approves, the Optionee may satisfy his obligations under this Section 5 by (i) tendering previously-acquired shares of Common Stock or having shares of Common Stock withheld from the shares of Common Stock to be received upon exercise, provided that the shares have an aggregate Fair Market Value on the date of exercise of the Option sufficient to satisfy in whole or in part the applicable withholding taxes; or (ii) utilizing the Cashless Exercise procedure described in Section 3(d).

  • By accepting this award, you agree that the Automatic Exercise procedure shall apply to any outstanding awards of nonqualified stock options and cash-settled stock appreciation rights.

  • The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby irrevocably elects to purchase (check applicable box): ___ ________ shares of the Common Stock covered by such Warrant; and/or ___ the maximum number of shares of Common Stock covered by such Warrant pursuant to the Cashless Exercise procedure set forth in Section 2(d)(ii).

  • Except when using the Cashless Exercise procedure, Employee shall deliver to the Company at the time of such exercise or disposition such amount of money or shares of Stock as the Company may require to meet its withholding obligation under applicable tax laws or regulations, and, if Employee fails to do so, the Company is hereby authorized to withhold from any cash or Stock remuneration then or thereafter payable to Employee any tax required to be withheld by reason of such resulting compensation income.

  • A participant may make an election, notice of which shall be in writing, to tender previously-acquired shares of Common Stock or have shares of Common Stock withheld from the exercise, provided that the shares have an aggregate Fair Market Value on the date of exercise of the option sufficient to satisfy in whole or in part the applicable withholding taxes, or the Cashless Exercise procedure described in Section 6 may be utilized to satisfy the withholding requirements related to the exercise of an option.

Related to Exercise procedure

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

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

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

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

  • 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;

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

  • Warrant Exercise Price means $0.01 per share.

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

  • Exercise Period means the period commencing on the Issuance Date and ending on 5:00 p.m. eastern standard time on the five-year anniversary thereof.

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

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

  • Option Price means the price at which a Share may be purchased by a Participant pursuant to an Option.

  • 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.

  • Initial Warrant Exercise Date means __________, 1997.

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

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

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

  • Initial Exercise Date means the date hereof.

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

  • Replacement Option means an Option that is granted when a Participant uses a Common Share held or to be acquired by the Participant to exercise an Option and/or to satisfy tax withholding requirements incident to the exercise of an Option.

  • Option Exercise Notice has the meaning provided in Section 3.6 below.

  • Grant Price means the price established at the time of grant of a SAR pursuant to Article 7, used to determine whether there is any payment due upon exercise of the SAR.

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

  • SAR Exercise Price means the per share exercise price of a SAR granted to a Grantee under Section 9 hereof.

  • Exercise Event shall have the meaning ascribed to such term in Section 2(c).