Common use of GENERAL INSTRUCTIONS FOR EXERCISE Clause in Contracts

GENERAL INSTRUCTIONS FOR EXERCISE. The Option shall be exercised by the Employee by completing, executing and delivering to the Company the Notice of Exercise and Investment Representation Statement ("NOTICE OF EXERCISE"), in substantially the form attached hereto as Exhibit A, which Notice of Exercise shall specify the number of shares of Common Stock which the Employee elects to purchase. The Company's obligation to deliver shares upon the exercise of this Option shall be subject to the Employee's satisfaction of all applicable federal, state, local and foreign income and employment tax withholding requirements, if any. Upon receipt of such Notice of Exercise and of payment of the purchase price (and payment of applicable taxes as provided above), the Company shall, as soon as reasonably possible and subject to all other provisions hereof, deliver certificates for the shares of Common Stock so purchased, registered in the Employee's name or in the name of his or her legal representative (if applicable). Payment of the purchase price upon any exercise of the Option shall be made by check acceptable to the Company or in cash; provided, however, that the Board may, in its sole and absolute discretion, accept any other legal consideration to the extent permitted under applicable laws and the Plan.

Appears in 3 contracts

Samples: Employment Agreement (Smartdisk Corp), Employment Agreement (Smartdisk Corp), Employment Agreement (Smartdisk Corp)

AutoNDA by SimpleDocs

GENERAL INSTRUCTIONS FOR EXERCISE. The Option shall be exercised --------------------------------- by the Employee Consultant by completing, executing and delivering to the Company the Notice of Exercise and Investment Representation Statement ("NOTICE OF --------- EXERCISE"), in substantially the form attached hereto as Exhibit A, which Notice --------- of Exercise shall specify the number of shares of Common Stock which the Employee Consultant elects to purchase. The Company's obligation to deliver shares upon the exercise of this Option shall be subject to the EmployeeConsultant's satisfaction of all applicable federal, state, local and foreign income and employment tax withholding requirements, if any. Upon receipt of such Notice of Exercise and of payment of the purchase price (and payment of applicable taxes as provided above), the Company shall, as soon as reasonably possible and subject to all other provisions hereof, deliver certificates for the shares of Common Stock so purchased, registered in the EmployeeConsultant's name or in the name of his or her legal representative (if applicable). Payment of the purchase price upon any exercise of the Option shall be made by check acceptable to the Company or in cash; provided, however, that the Board may, in its sole and absolute discretion, accept any other legal consideration to the extent permitted under applicable laws and the Planlaws.

Appears in 1 contract

Samples: Consultant and Independent Contractor Non Qualified Stock Option Agreement (International Network Services)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.