Common use of Alternative Forms of Payment Clause in Contracts

Alternative Forms of Payment. The Company may, in its sole discretion, agree to allow you to make payment of the exercise price in any one of the following forms: i. The surrender of shares of the Company's stock which you own having a value, as determined by the Company, equal to the exercise price, provided that if you are subject to short-swing profit liability underss.16 of the Exchange Act, the timing of the exercise must satisfy the requirements of Rule 16b-3 of the SEC; ii. The delivery of a recourse promissory note signed by you, provided that the promissory note shall be due and payable not more than four (4) years after this option is exercised and that interest shall be payable at least annually at a rate not less than that necessary to avoid assessment of imputed interest under the Code; or iii. The assignment by you of the proceeds of the sale of some or all of the shares being acquired upon exercise of this option. The Company shall be under no obligation to allow you to use any of these alternative forms of payment of the purchase price. Furthermore, the Company may place additional conditions upon your use of these methods of payment of the Exercise Price if it believes, in its sole discretion, that it is in the best interests of the Company to do so.

Alternative Forms of Payment. The Company may, in its sole discretion, agree to allow you to make payment of the exercise price in any one of the following forms: i. The surrender of shares of the Company's stock which you own having a value, as determined by the Company, equal to the exercise price, provided that if you are subject to short-swing profit liability underss.16 under '16 of the Exchange Act, the timing of the exercise must satisfy the requirements of Rule 16b-3 of the SEC; ii. The delivery of a recourse promissory note signed by you, provided that the promissory note shall be due and payable not more than four (4) years after this option is exercised and that interest shall be payable at least annually at a rate not less than that necessary to avoid assessment of imputed interest under the Code; or iii. The assignment by you of the proceeds of the sale of some or all of the shares being acquired upon exercise of this option. The Company shall be under no obligation to allow you to use any of these alternative forms of payment of the purchase price. Furthermore, the Company may place additional conditions upon your use of these methods of payment of the Exercise Price if it believes, in its sole discretion, that it is in the best interests of the Company to do so.