Cashless Payment. Provided that prior approval of the Company has been obtained, the Optionee may use Common Shares of the Company owned by him or her to pay the purchase price for the Option Shares by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Common Shares used for this purpose shall be valued at the Fair Market Value.
Appears in 3 contracts
Sources: Stock Option Agreement (Cpi Aerostructures Inc), Stock Option Agreement (Rosenfeld Eric), Stock Option Agreement (Rosenfeld Eric)
Cashless Payment. Provided that prior approval of the Company has been obtained, the Optionee Employee may use Common Shares Stock of the Company owned by him or her to pay the purchase price for the Option Shares by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Shares Stock used for this purpose shall be valued at the Fair Market Value.
Appears in 3 contracts
Sources: Stock Option Agreement (Kitara Media Corp.), Stock Option Agreement (Cpi Aerostructures Inc), Stock Option Agreement (Cpi Aerostructures Inc)