TIME AND MANNER OF EXERCISE Clause Samples

TIME AND MANNER OF EXERCISE. From and after April 3, 2003, and during ---------------------------- and until April 3, 2008, the Grantee shall have the right to purchase from the Corporation 350,000 shares of the Corporation's $.001 par value common stock ("Option"

TIME AND MANNER OF EXERCISE. From and after June 18, 2004, and during and until September 16, 2004, the Grantee shall have the right to purchase from the Corporation 2,500,000 shares of the Corporation’s $.001 par value common stock (“Option”). The Grantee shall exercise the Option by delivery to the Corporation of a notice of exercise accompanied by a certified or cashier's check or promissory note in payment of the Option purchase price. Promptly upon receipt of such exercise and such check, the Corporation will deliver or cause to be delivered to Grantee stock certificate(s) representing the number of shares of the Corporation’s $.001 par value common stock purchased in accordance with the provisions of this Agreement and, during Grantee's lifetime, duly registered in the name of the Grantee and, at the Grantee's election, his or her spouse.

TIME AND MANNER OF EXERCISE. (a) This Warrant shall be exercisable, in whole or in part, at any time, and from time to time, following the date hereof up until 11:59 p.m., New York time, on the fifth (5th) anniversary of the date hereof (such time and date, the “Expiration Date”). (b) Subject to the terms and conditions set forth herein, this Warrant may be exercised by the Holder, to the extent then exercisable, in whole or in part, during normal business hours on any Business Day, by surrender of this Warrant to the Company at its principal office, accompanied by a subscription in substantially the form attached to this Warrant as Exhibit A duly executed by the Holder and accompanied by payment, by check payable to the order of the Company or by wire transfer to such account of the Company as the Company shall direct, in the amount obtained by multiplying (i) the number of shares of Common Stock designated in such subscription (up to the amount of shares to which the Holder is entitled to receive at such time upon exercise of this Warrant) by (ii) the Warrant Price, and the Holder shall thereupon be entitled to receive the full number of duly authorized, validly issued, fully paid and nonassessable shares of Common Stock so purchased upon such exercise. (c) Alternatively, this Warrant may be exercised in the manner set forth in the preceding paragraph by surrendering this Warrant in exchange for such number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock as to which this Warrant is being exercised, multiplied by (ii) a fraction, the numerator of which is the Market Price (as defined below) of a share of Common Stock minus the Warrant Price and the denominator of which is the Market Price for a share of Common Stock (a “Cashless Exercise”). Solely for the purposes of this Section 1, the “Market Price” shall be calculated either (A) on the date on which the form of subscription attached hereto is deemed to have been given to the Company (the “Notice Date”) or (B) as the average of the Market Price for each of the five trading days immediately preceding the Notice Date, whichever of (A) or (B) results in a greater Market Price; provided, however, that a Cashless Exercise may only be employed by the Holder if the Common Stock shall then be publicly quoted in the manner contemplated in the next sentence. As used herein, the phrase “Market Price” at any date shall be deemed to be the last reported sale price, or, in case no such reported sale tak...

TIME AND MANNER OF EXERCISE. From and after __________________, and during each of the ________ (__) succeeding one-year periods commencing on the anniversary thereof, Grantee shall have the right to purchase from Grantor ______ percent (__%) of the aggregate number of shares of Common Stock of Grantor subject to this Option, on a cumulative basis (total ____________ shares). The purchase shall be made upon delivery to Grantor of a notice of exercise accompanied by a certified or cashier’s check in payment of the aggregate option price. Promptly upon receipt of such material, Grantor will deliver to Grantee stock certificate(s) representing the number of shares purchased in accordance with the foregoing and during Grantee’s lifetime, duly registered in the name(s) of Grantee and, at Grantee’s election, his or her spouse. The failure to exercise an option with respect to any shares of Grantor’s Common Stock for which the right has accrued during any one-year period shall not result in the termination of the option with respect to such shares of Stock; rather the same shall cumulate and be eligible for exercise during the remainder of the option term.

TIME AND MANNER OF EXERCISE. Unless the Administrator expressly provides otherwise, (a) an Award requiring exercise by the holder will not be deemed to have been exercised until the Administrator receives a written notice of exercise (in form acceptable to the Administrator) signed by the appropriate person and accompanied by any payment required under the Award; and (b) if the Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so.

TIME AND MANNER OF EXERCISE a. Minimum Exercise. A minimum of 100 shares or such lesser number as is exercisable if fewer than 100 shares are exercisable, may be purchased by the Optionee from the Company at any one time.

TIME AND MANNER OF EXERCISE. If any of the Investors desires to accept the offer contained in the Tag-Along Notice, such Investor shall notify the Selling Stockholder in writing within 20 days after receipt of the Tag-Along Notice. If none of the Investors has so accepted such offer in writing, they shall be deemed to have waived all of their rights with respect to the Proposed Sale, and the Selling Stockholder shall thereafter be free to sell the Restricted Shares specified in the Tag-Along Notice pursuant to the Proposed Sale. Any acceptance by any Investor of the offer contained in the Tag-Along Notice shall be irrevocable except as hereinafter provided. Each Investor who has elected to participate in such Proposed Sale shall be entitled to sell in the Proposed Sale, on the same terms and conditions as the Selling Stockholder, such number of its Tag-Along Shares equal to the proportion (rounded to the nearest whole share) of all shares to be included in the Proposed Sale equal to a fraction, the numerator of which is the total number of Tag-Along Shares of Investors who notified the Restricted Stockholder of their interest in exercising tag-along rights as contemplated by Section 2.1.3 (on an as converted basis) immediately before the Proposed Sale and the denominator of which is the sum of the total number of Restricted Shares to be sold pursuant to the Proposed Sale plus the total number of such Tag-Along Shares (on an as converted basis).

TIME AND MANNER OF EXERCISE. This Stock Option may be exercised, in whole or in part, by submitting to the Committee an exercise agreement in the form prescribed by the Committee and duly executed by Optionee (or, following Optionee’s Disability or death, his legal representative, estate or heirs, as the case may be). The amount of the exercise price may be submitted (a) by payment to the Company of the amount of such consideration by cash, wire transfer, certified check or bank draft; or (b) any other consideration deemed acceptable by the Committee, in its sole and absolute discretion. This Stock Option may be exercised with respect to whole Shares only.

TIME AND MANNER OF EXERCISE. From and after _____________, and during each of the four succeeding one-year periods commencing on the anniversary thereof, Grantee shall have the right to purchase from Grantor __________ shares of Common Stock of Grantor on a cumulative basis (total __________ shares) upon delivery to Grantor of notice of exercise and representations in the form attached hereto as Exhibit "B" accompanied by a certified or cashier's check in payment of the aggregate option price. In the event an option shall be exercisable by any person other than the Grantee, the required notice under this Paragraph shall be accompanied by appropriate proof of the right of such person to exercise the option. Promptly upon receipt of such material, Grantor will deliver to Grantee stock certificates representing the number of shares purchased in accordance with the foregoing and duly registered in the name(s) of Grantee and, at his election, his or her spouse, or in the name(s) of his or her personal representatives, devises or heirs, as the case may be. The failure to exercise an option with respect to any shares of Grantor's Common Stock for which the right has accrued during any one-year period shall not result in the termination of the option with respect to such shares of Stock, but rather, the same shall cumulate and be eligible for exercise during the remainder the option term.