Common use of Notice of Exercise and Payment Clause in Contracts

Notice of Exercise and Payment. When the Participant wishes to exercise all or a part of the Option, Participant must notify the Company by filing a signed “Notice of Exercise” in the form and manner prescribed by the Company. The notice will be effective when it is received by the Company. If the Option is being exercised following Participant’s death, the notice must be signed and filed by the beneficiary(ies) and must be accompanied by proof (satisfactory to the Company) of each beneficiary’s right to exercise the Option. Full payment of the Exercise Price, in a form deemed permissible by the Committee, may be required at the time of filing the notice.

Notice of Exercise and Payment. When the Participant wishes to exercise all or a part of the Option, Participant must notify the Company by filing a signed “"Notice of Exercise” " in the form and manner prescribed by the Company. The notice will be effective when it is received by the Company. If the Option is being exercised following Participant’s 's death, the notice must be signed and filed by the beneficiary(ies) and must be accompanied by proof (satisfactory to the Company) of each beneficiary’s 's right to exercise the Option. Full payment of the Exercise Price, in a form deemed permissible by the Committee, may be required at the time of filing the notice.