Common use of EXERCISE OF THE SHARE OPTION Clause in Contracts

EXERCISE OF THE SHARE OPTION. No portion of the Option may be exercised until such portion vests. Each election to exercise any vested portion of the Share Option shall be subject to the terms and conditions of the Plan and this Agreement and must be in written or electronic form acceptable to the Committee, signed (including by electronic signature) by the Optionee (or in such other form as is acceptable to the Committee). Each such written or electronic exercise election must be received by the Company at its principal office or by such other party as the Company may prescribe and be accompanied by payment in full of the exercise price and related taxes as provided in the Plan. The latest date on which the Option or any portion thereof may be exercised is the Expiration Date as set forth above and, if not exercised by such date, the Option or any remaining portion thereof shall thereupon immediately terminate for no consideration. Payment of the Exercise Price for the Shares may be made by one or more of the methods set forth in Section 6.4 of the Plan.