Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either: (a) in cash or by certified or bank check at the time the Option is exercised; (b) by delivery to the Company of other Shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares equal to the difference between the number of Shares thereby purchased and the number of identified attestation Shares (a “Stock for Stock Exchange”); (c) through a “cashless exercise program” established with a broker; (d) by reduction in the number of Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise; (e) by any combination of the foregoing methods; or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 28 contracts
Sources: Non Qualified Stock Option Award Agreement (BioRestorative Therapies, Inc.), Incentive Stock Option Award Agreement (BioRestorative Therapies, Inc.), Non Qualified Stock Option Award Agreement (BioRestorative Therapies, Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 16 contracts
Sources: Stock Option Agreement (Nelson Daniel D), Stock Option Agreement (Signing Day Sports, Inc.), Stock Option Agreement (Toppoint Holdings Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
(c) through a “cashless exercise program” established with a broker;
(d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 4 contracts
Sources: Stock Option Agreement (Rezolute, Inc.), Stock Option Exercise Agreement (Foxo Technologies Inc.), Non Qualified Stock Option Agreement (YayYo, Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall will be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
(c) through a “cashless exercise program” established with a broker;
(d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such the Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 3 contracts
Sources: Nonqualified Stock Option Agreement (BG Staffing, Inc.), Incentive Stock Option Agreement (BG Staffing, Inc.), Nonqualified Stock Option Agreement (BG Staffing, Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant Director identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “"Stock for Stock Exchange”");
(c) through a “"cashless exercise program” " established with a broker;
(d) by reduction in reducing the number of Shares shares otherwise deliverable upon exercise of such Option by a number of shares with a an aggregate Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 3 contracts
Sources: Non Qualified Stock Option Agreement (Intellinetics, Inc.), Non Qualified Stock Option Agreement (Intellinetics, Inc.), Non Qualified Stock Option Agreement (Intellinetics, Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
(c) through a “cashless exercise program” established with a broker;
(d) by reduction in reducing the number of Shares shares otherwise deliverable upon exercise of such Option by a number of shares with a an aggregate Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 3 contracts
Sources: Non Qualified Stock Option Agreement, Non Qualified Stock Option Agreement (Lightwave Logic, Inc.), Non Qualified Stock Option Agreement (Lightwave Logic, Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “"Stock for Stock Exchange”");
(c) through a “"cashless exercise program” " established with a broker;
(d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 3 contracts
Sources: Incentive Stock Option Agreement (Marizyme Inc), Non Qualified Stock Option Agreement (LIGHTBRIDGE Corp), Incentive Stock Option Agreement (Intellinetics, Inc.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant Director identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
(c) through a “cashless exercise program” established with a broker;
(d) by reduction in reducing the number of Shares shares otherwise deliverable upon exercise of such Option by a number of shares with a an aggregate Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 3 contracts
Sources: Consulting Agreement (Lightwave Logic, Inc.), Non Qualified Stock Option Agreement (LIGHTBRIDGE Corp), Non Qualified Stock Option Agreement (Lightwave Logic, Inc.)
Payment of Exercise Price. The entire Exercise Price exercise price of the Option Shares shall be payable in full at the time of exercise paid, to the extent permitted by applicable statutes and regulations, either:
either (a) in cash or by certified or bank check at the time the Option is exercised;
exercised or (b) in the discretion of the Committee, upon such terms as the Committee shall approve, the exercise price may be paid: (i) by delivery to the Company of other Shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price exercise price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares of Common Stock that have a Fair Market Value on the date of attestation equal to the Exercise Price exercise price (or portion thereof) and receives a number of Shares shares of Common Stock equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares of Common Stock; (ii) a “Stock for Stock Exchange”);
(c) through a “cashless cashless” exercise program” program established with a broker;
; (diii) by reduction in the number of Shares shares of Common Stock otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price exercise price at the time of exercise;
, or (e) by any combination of the foregoing methods; or
(fiv) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 2 contracts
Sources: Nonstatutory Stock Option Agreement (Key Energy Services Inc), Nonqualified Stock Option Agreement (Key Energy Services Inc)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares Class A Ordinary Shares, together with an instrument of Common Stock, duly endorsed for transfer to in favour of the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 2 contracts
Sources: Share Option Agreement (Concorde International Group Ltd.), Share Option Agreement (Concorde International Group Ltd.)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(ai) in cash or by certified or bank check at the time the Option is exercised;
(bii) by delivery to the Company of other Shares of Common Stockowned by the Participant for at least six (6) months, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares equal to the difference between the number of Shares thereby purchased and the number of identified attestation Shares (a “Stock for Stock Exchange”)Shares;
(ciii) through a “cashless exercise program” established with a broker;
(div) by reduction in the number of Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(ev) by any combination of the foregoing methods; or
(fvi) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 2 contracts
Sources: Stock Option Award Agreement (Finward Bancorp), Incentive Stock Option Award Agreement (Finward Bancorp)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 2 contracts
Sources: Stock Option Agreement (Nelson Daniel D), Stock Option Agreement (Nelson Daniel D)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares Ordinary Shares, together with an instrument of Common Stock, duly endorsed for transfer to in favour of the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 1 contract
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
(a) : i. in cash or by certified or bank check at the time the Option is exercised;
(b) ; ii. by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “"Stock for Stock Exchange”");
(c) ; iii. through a “"cashless exercise program” " established with a broker;
(d) ; iv. by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) ; v. by any combination of the foregoing methods; or
(f) or vi. in any other form of legal consideration that may be acceptable to the Committee.. (c)
Appears in 1 contract
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares Common Shares, together with an instrument of Common Stock, duly endorsed for transfer to in favour of the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 1 contract
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares ADSs or Ordinary Shares, together with an instrument of Common Stock, duly endorsed for transfer to in favour of the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 1 contract
Payment of Exercise Price. The entire Exercise Price exercise price of the Option Shares shall be payable in full at the time of exercise paid, to the extent permitted by applicable statutes and regulations, either:
either (a) in cash or by certified or bank check at the time the Option is exercised;
exercised or (b) in the discretion of the Committee, upon such terms as the Committee shall approve, the exercise price may be paid: (i) by delivery to the Company of other Shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price exercise price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares of Common Stock that have a Fair Market Value on the date of attestation equal to the Exercise Price exercise price (or portion thereof) and receives a number of Shares shares of Common Stock equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares of Common Stock; (ii) a “Stock for Stock Exchange”);
(c) through a “cashless "cashless" exercise program” program established with a broker;
; (diii) by reduction in the number of Shares shares of Common Stock otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price exercise price at the time of exercise;
, or (e) by any combination of the foregoing methods; or
(fiv) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 1 contract
Sources: Nonqualified Stock Option Agreement (Key Energy Services Inc)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to [in the extent permitted manner designated by applicable statutes and regulationsthe Plan Committee, either:
(a) in cash or by certified or bank check at the time the Option is exercised;
(b) by delivery to the Company of other Shares shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock for Stock Exchange”);
(c) through a “cashless exercise program” established with a broker;
(d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
(e) by any combination of the foregoing methods; or
(f) in any other form of legal consideration that may be acceptable to the Plan Committee.
Appears in 1 contract
Sources: Incentive Stock Option Agreement (Mystic Holdings Inc./Nv)
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares of Common StockClass B Ordinary Shares, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific Shares shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares shares equal to the difference between the number of Shares shares thereby purchased and the number of identified attestation Shares shares (a “Stock Share for Stock Share Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 1 contract
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations, either:
: (a) in cash or by certified or bank check at the time the Option is exercised;
; (b) by delivery to the Company of other Shares of Common StockShares, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares being acquired, or by means of attestation whereby the Participant Grantee identifies for delivery specific Shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares equal to the difference between the number of Shares thereby purchased and the number of identified attestation Shares shares (a “Stock Share for Stock Share Exchange”);
; (c) through a “cashless exercise program” established with a broker;
; (d) by reduction in the number of Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;
; (e) by any combination of the foregoing methods; or
or (f) in any other form of legal consideration that may be acceptable to the Committee.
Appears in 1 contract