Example ContractsClausespayment of option priceVariants
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Payment of Option Price. The purchase price of Common Stock upon exercise of this Option shall be paid in full to the Corporation at the time of the exercise of the Option in cash or by the surrender to the Corporation of shares of previously acquired Common Stock which shall have been held by the Participant for at least six months and which shall be valued at Fair Market Value on the date the Option is exercised, or by a combination of cash and such Common Stock.

Payment of Option Price. The purchase price of Common Stock upon exercise of this Option shall be paid in full to the Corporation at the time of the exercise of the Option in cash or by the surrender to the Corporation of shares of previously acquired Common Stock which shall have been held by the Participant for at least six (6) months and which shall be valued at Fair Market Value on the date the Option is exercised, or by a combination of cash and such Common Stock.

Payment of Option Price. The purchase price of Common Stockfor Shares. Payment for shares purchased upon exercise of this Option shall be paidmade in full to the Corporation at the time of the exercise of the Option. No loan shall be made or guaranteed by the Company for the purpose of financing the purchase of any optioned shares. Payment of the Option Price shall be made in cash or may be made by delivering Common Stock of the Company having a fair market value at least equal to the Option Price, or a combination of Common Stock and cash. Such fair market value shall be determined by the surrender toclosing price of the Corporation of shares of previously acquired Common Stock on the New York Stock Exchange on the date on which this Option is exercised or, if no sale of the Common Stock shall have been held by the Participant for at least six months and which shall be valued at Fair Market Valuemade on the dateExchange on that day, then on the Optionnext following day for which there is exercised, or by a combination of cash and such Common Stock.reported sale.

Payment of Option Price.Payment. The purchaseexercise price of Common Stock upon exercise of thisan Option shall be paid in full to the Corporation at the time of exercise # in cash, # through the surrender of previously-acquired shares of Common Stock having a Fair Market Value equal to the exercise price of the Option in cash or by the surrender to the Corporation ofprovided that such previously-acquired shares of previously acquired Common Stock which shall have been held by the Participant for at least six months and which shall be valued atmonths, unless the Committee in its discretion permits the use of shares held less than six months, # through the withholding by the Company (at the election of the Participant) of shares of Common Stock having a Fair Market Value equal to the exercise price, provided that the Participant attests in a manner acceptable to the Committee that he or she holds previously-acquired shares equal in number to the number of shares withheld by the Company and has held such previously-acquired shares for at least six months, or # if the Common Stock is traded on an established securities market, the dateCommittee may approve payment of the exercise price by a broker-dealer or by the Participant with cash advanced by the broker-dealer if the exercise notice is accompanied by the Participant’s written irrevocable instructions to deliver the Common Stock acquired upon exercise of the Option is exercised,to the broker-dealer, or # by a combination of cash(i), (ii), (iii), and such Common Stock.(iv))], in the discretion of the Committee.

PaymentMethod of Option Price. The purchase priceExercise. Options to the extent then exercisable may be exercised in whole or in part at any time during the option period, by giving written notice to the Company specifying the number of shares of Common Stock upon exercise of this Option shallto be paidpurchased, accompanied by payment in full of the purchase price, in cash, or by check or such other instrument as may be acceptable to the CorporationCommittee. As determined by the Committee, in its sole discretion, at or after grant, payment in full or in part may be made at the timeelection of the exerciseOptionee # in the form of Common Stock owned by the Optionee (based on the Fair Market Value of the OptionCommon Stock which is not the subject of any pledge or security interest, # in cash or by the surrender to the Corporationform of shares of previously acquired Common Stock which shall have been heldor Preferred Stock withheld by the Participant for at least six months and which shallCompany from the shares of Common Stock otherwise to be valued atreceived with such withheld shares of Common Stock having a Fair Market Value onequal to the dateexercise price of the Option is exercised,Option, or # by a combination of the foregoing, such Fair Market Value determined by applying the principles set forth in [Section 5A(a)], provided that the combined value of all cash and cash equivalents and the Fair Market Value of any shares surrendered to the Company is at least equal to such exercise price and except with respect to # above, such method of payment will not cause a disqualifying disposition of all or a portion of the Common Stock.Stock received upon exercise of an Incentive Option. An Optionee shall have the right to dividends and other rights of a stockholder with respect to shares of Common Stock purchased upon exercise of an Option at such time as the Optionee # has given written notice of exercise and has paid in full for such shares, and # has satisfied such conditions that may be imposed by the Company with respect to the withholding of taxes.

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