Common use of Definition of Fair Market Value Clause in Contracts

Definition of Fair Market Value. The "Fair Market Value" of a share of Common Stock with respect to any day shall be (a) the closing sales price on the immediately preceding business day of a share of Common Stock as reported on the principal securities exchange on which shares of Common Stock are then listed or admitted to trading (including as a securities exchange for this purpose the NASDAQ National Market System) or (b) if not so reported, the average of the closing bid and ask prices on the immediately preceding business day as reported on the National Association of Securities Dealers, Inc. Automated Quotations System or (c) if not so reported, as furnished by any member of the National Association of Securities Dealers, Inc., selected by the Corporation. In the event that the price of a share of Common Stock shall not be so reported, the Fair Market Value of a share of Common Stock shall be determined by the Corporation in its absolute discretion.

Definition of Fair Market Value. 6 The "Fair Market Value" of a share of Common Stock with respect to any day shall be (a) the closing sales price on the immediately preceding business day of a share of Common Stock as reported on the principal securities exchange on which shares of Common Stock are then listed or admitted to trading (including as a securities exchange for this purpose the NASDAQ National Market System) or (b) if not so reported, the average of the closing bid and ask prices on the immediately preceding business day as reported on the National Association of Securities Dealers, Inc. Automated Quotations System or (c) if not so reported, as furnished by any member of the National Association of Securities Dealers, Inc., selected by the Corporation. In the event that the price of a share of Common Stock shall not be so reported, the Fair Market Value of a share of Common Stock shall be determined by the Corporation in its absolute discretion.