Common use of EXERCISE OF OPTION AND ISSUANCE OF STOCK Clause in Contracts

EXERCISE OF OPTION AND ISSUANCE OF STOCK. The Option may be exercisable in whole or in part (to the extent that it is exercisable in accordance with its terms) by the giving written notice to the Company. Such written notice shall be signed by the person exercising the Option, shall state the number of Shares with respect to which the Option is being exercised, shall contain the warranty, if any, required under the Plan and shall specify a date (other than a Saturday, Sunday or legal holiday) not less than five (5) nor more than ten (10) days after the date of such written notice, as the date on which the Shares will be purchased, at the principal office of the Company during ordinary business hours, or at such other hour and place agreed upon by the Company and the person or persons exercising the Option, and shall otherwise comply with the terms and conditions of this Agreement and the Plan. On the date specified in such written notice (which date may be extended by the Company on one occasion for up to 30 days if any law or regulation requires the Company to take any action with respect to the Shares prior to the issuance thereof) the Company shall accept payment for the Shares and shall deliver to the Optionee an appropriate certificate or certificates for the Shares as to which the Option was exercised. The Option price of any Shares shall be payable at the time of exercise as determined by the Optionee either:

EXERCISE OF OPTION AND ISSUANCE OF STOCK. The Option may be exercisable exercised in whole or in part (to the extent that it is exercisable exerciseable in accordance with its terms) by the giving written notice (or any other approved form of notice) to the Company. Such written notice shall be signed by the person exercising the Option, shall state the number of Shares with respect to which the Option is being exercised, shall contain the warranty, if any, required under the Plan and shall specify a date (other than a Saturday, Sunday or legal holiday) not less than five (5) nor more than ten (10) days after the date of such written notice, as the date on which the Shares will be purchased, at the principal office of the Company during ordinary business hours, or at such other hour and place agreed upon by the Company and the person or persons exercising the Option, and shall otherwise comply with the terms and conditions of this Agreement and the Plan. On the date specified in such written notice (which date may be extended by the Company on one occasion for up to 30 days if any law or regulation requires the Company to take any action with respect to the Shares prior to the issuance thereof) ), the Company shall accept payment for the Shares and shall deliver to the Optionee an appropriate certificate or certificates for the Shares as to which the Option was exercised. The Option price of any Shares shall be payable at the time of exercise as determined by the Optionee Company in its sole discretion either: