Common use of Exercising Options Clause in Contracts

Exercising Options. You may exercise any or all vested Options by notifying the Company in writing that you wish to exercise your Options and accompanying the written notice (as described in paragraph 4 below) with the payment for the Common Stock you are purchasing with such Options. Payment must be equal to the total number of Options that you wish to exercise, multiplied by the Exercise Price. Payment may be made in cash, certified or bank check, note or other instrument acceptable to the Committee. Payment may also be made in full or in part in shares of Common Stock with a Fair Market Value (determined as of the date of exercise of such Stock Option) at least equal to such full or partial payment. Common Stock used to pay the Exercise Price may be shares that you already own, or the Company may withhold shares of Common Stock that you would otherwise have received upon exercise of the Stock Option. You also may exercise a Stock Option through a "cashless exercise" procedure involving a broker or dealer approved by the Committee, provided that the conditions described in Section 8(f) of the Plan are satisfied. If you are subject to Section 16 of the Exchange Act, you shall have the unfettered right (but not the obligation) to pay the exercise price in full or in part in shares of Common Stock in accordance with Section 8(i) of the Plan. The date of exercise will be the date that all of the requirements above, as well as the requirements in 2(e) below, are met. No certificate showing the Common Stock purchased under such Option will be issued to you under 2(f) below until all of these requirements are met.

Exercising Options. You may exercise any or all vested Options by notifying the Company in writing that you wish to exercise your Options and accompanying the written notice (as described in paragraph 4 below) with the payment for the Common Stock you are purchasing with such Options. Payment must be equal to the total number of Options that you wish to exercise, multiplied by the Exercise Price. Payment may be made in cash, certified or bank check, note or other instrument acceptable to the Committee. Payment may also be made in full or in part in shares of Common Stock with a Fair Market Value (determined as of the date of exercise of such Stock Option) at least equal to such full or partial payment. Common Stock used to pay the Exercise Price may be shares that you already own, or the Company may withhold shares of Common Stock that you would otherwise have received upon exercise of the Stock Option. You also may exercise a Stock Option through a "cashless exercise" procedure involving a broker or dealer approved by the Committee, provided that the conditions described in Section 8(f) of the Plan are satisfied. If you are subject to Section 16 of the Exchange Act, you shall have the unfettered right (but not the obligation) to pay the exercise price in full or in part in shares of Common Stock in accordance with Section 8(i) of the Plan. The date of exercise will be the date that all of the requirements above, as well as the requirements in 2(e) below, are met. No certificate showing the Common Stock purchased under such Option will be issued to you under 2(f) below until all of these requirements are met.

Exercising Options. You may exercise any or all vested Options by notifying the Company in writing that you wish to exercise your Options and accompanying the written notice (as described in paragraph 4 below) with the payment for the Common Stock you are purchasing with such Options. Payment must be equal to the total number of Options that you wish to exercise, multiplied by the Exercise Price. Payment may be made in cash, certified or bank check, note or other instrument acceptable to the Committee. Payment may also be made in full or in part in shares of Common Stock with a Fair Market Value (determined as of the date of exercise of such Stock Option) at least equal to such full or partial payment. Common Stock used to pay the Exercise Price may be shares that you already own, or you may direct the Company may to withhold shares of Common Stock that you would otherwise have received upon exercise of the Stock Option. You also may exercise a Stock Option through a "cashless exercise" procedure involving a broker or dealer approved by the Committee, provided that the conditions described in Section 8(f) of the Plan are satisfied. If you are subject to Section 16 of the Exchange Act, you shall have the unfettered right (but not the obligation) to pay the exercise price in full or in part in shares of Common Stock in accordance with the Section 8(i) of the Plan. The date of exercise will be the date that all of the requirements above, as well as the requirements in 2(e) below, are met. No certificate showing the Common Stock purchased under such Option will be issued to you under 2(f) below until all of these requirements are met.