Value of Stock. Any Shares which are tendered to BellSouth as payment and any Shares which are transferred by BellSouth shall be valued at their Fair Market Value, which for this purpose, is defined as the average of the high and low sales prices on the New York Stock Exchange ("NYSE") on the date of exercise or, if there are no sales on the date of exercise, the average of the high and low sales prices on the NYSE on the most recent prior day on which a Share was sold on the NYSE.
Appears in 3 contracts
Sources: Non Qualified Stock Option Agreement (At&t Inc.), Non Qualified Stock Option Agreement (Bellsouth Corp), Non Qualified Stock Option Agreement (Bellsouth Corp)