Common use of Payment of the Exercise Clause in Contracts

Payment of the Exercise. Price for the Shares to be purchased on the exercise of the Option shall be made by cash or check payable to the order of the Company. Notwithstanding the foregoing, the Optionee shall have the right, subject to the Company's approval (in its sole discretion), to receive in lieu of the Shares an amount in cash from the Company equal to the difference between the Fair Market Value of the Shares to be received upon the exercise of the Option and the Exercise Price therefore.