Common use of How Option May Be Exercised Clause in Contracts

How Option May Be Exercised. This Option is exercisable by giving written notice to the Company at its executive offices, signifying your election to exercise the Option. The notice must state the number of shares of Common Stock as to which the Option is being exercised, must contain a statement by you (in a form acceptable to the Company) that such shares are being acquired by you for investment and not with a view to their distribution or resale (unless a registration statement covering the shares purchasable been declared effective by the Securities and Exchange Commission) and must be accompanied by check payable to the order of the Company for the full purchase price of the shares being purchased and such amount, if any, as may be required for income tax withholding. No shares shall be issued until full payment therefor has been made and your income tax withholding obligations satisfied. If notice of the exercise of this Option is given by a person or persons other than you, the Company will require the submission to the Company of appropriate proof of the right of such person or persons to exercise this Option. Certificates for shares of the Common Stock so purchased will be issued as soon as practicable. The Company, however, shall not be required to issue or deliver a certificate for any shares until it has complied with all requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, any stock exchange on which the Common Stock may then be listed and all applicable state laws in connection with the issuance or sale of such shares or the listing of such shares on said exchange. Until the issuance of the certificate for such shares, you or such other person as may be entitled to exercise this Option, shall have none of the rights of a shareholder with respect to shares subject to this Option.

How Option May Be Exercised. This Option option is exercisable by giving a written notice signed by you and delivered to the Company at its executive offices, signifying your election to exercise the Optionthis option. The notice must state the number of shares of Common Stock as to which the Option your option is being exercised, must and contain a statement by you (in a form acceptable to the Company) that such shares are being acquired by you for investment and not with a view to their distribution or resale (unless a registration statement covering the shares purchasable has been declared effective by the Securities and Exchange Commission) and must be accompanied by check payable payment pursuant to the order of the Company Section 5 hereof for the full purchase price of the shares being purchased and such amount, if any, as may be required for income tax withholding. No shares shall be issued until full payment therefor has been made and your income tax withholding obligations satisfiedpurchased. If notice of the exercise of this Option option is given by a person or persons other than you, the Company will require may require, as a condition to the exercise of this option, the submission to the Company of appropriate proof of the right of such person or persons to exercise this Optionoption. Certificates for shares of the Common Stock so purchased will be issued as soon as practicable. The Company, however, shall not be required to issue or deliver a certificate for any shares until it has complied with all requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, any stock exchange on which the Company's Common Stock may then be listed and all applicable state laws in connection with the issuance or sale of such shares or the listing of such shares on said exchange. The Company may cause each certificate evidencing the purchased Common stock to be endorsed with one or more legends setting forth the restrictions on transfer of such Common Stock. Until the issuance of the certificate for such shares, you or such other person as may be entitled to exercise this Optionoption, shall have none of the rights of a shareholder with respect to shares subject to this Optionoption.

How Option May Be Exercised. This Option is exercisable by giving a written notice signed by you and delivered to the Company at its executive offices, signifying your election to exercise the Option. The notice must state the number of shares of Common Stock Shares as to which the your Option is being exercisedexercised and must be accompanied by cash, Common Shares, or any combination thereof, or other payment in such form as the Committee may determine in its discretion, for the full purchase price of the shares being acquired at the time of exercise, plus such amount, if any, as is required for withholding taxes. Any Common Shares delivered in satisfaction of all or any portion of the purchase price or withholding taxes shall be appropriately endorsed for transfer and assignment to the Company. In all events (including any “cashless exercise” procedure) no share shall be issued until full payment therefor has been delivered to and received by the Company. The Company shall prepare and file with the Securities and Exchange Commission a Form S-8 registration statement under the Securities Act of 1933. The Company will endeavor to keep such registration statement effective at all times that this Agreement is outstanding, but in the event that such registration statement is not effective at the time of exercise, your written notice of exercise to the Company must contain a statement by you (in a form acceptable to the Company) that such shares are being acquired by you for investment only and not with a view to their distribution or resale (unless a registration statement covering the shares purchasable been declared effective by the Securities and Exchange Commission) and must be accompanied by check payable to the order of the Company for the full purchase price of the shares being purchased and such amount, if any, as may be required for income tax withholding. No shares shall be issued until full payment therefor has been made and your income tax withholding obligations satisfiedresale. If a person or persons other than you give notice of the exercise of this Option is given Option, and provided notice of exercise by a such person or persons other than youis permitted under the Plan, then the Company will may require the submission to the Company of appropriate proof of the right authority of such person or persons to exercise this Option. Certificates for shares of the Common Stock so Shares purchased hereunder will be issued as soon as practicable. The Company, however, shall not be required to issue or deliver a certificate for any shares until it has complied with all requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, any stock exchange on which the Company’s Common Stock Shares may then be listed and all applicable state laws in connection with the issuance or sale of such shares or the listing of such shares on said exchange. Until the date of issuance of the certificate for such sharesshares to you (or any person succeeding to your rights pursuant to the Plan), you (or such other person person, as the case may be entitled to exercise this Option, be) shall have none of the no rights of as a shareholder stockholder with respect to shares any Common Shares subject to this Option.. 2

How Option May Be Exercised. This Option is exercisable by giving written notice to the Company at its executive offices, signifying your election to exercise the Option. The notice must state the number of shares of Common Stock as to which the Option is being exercised, must contain a statement by you (in a form acceptable to the Company) that such shares are being acquired by you for investment and not with a view to their distribution or resale (unless a registration statement covering the shares purchasable has been declared effective by the Securities and Exchange Commission) and must be accompanied by check payable to the order of the Company for the full purchase price of the shares being purchased and such amount, if any, as may be is required for income tax withholding. Such payment may also be made in whole or in part by delivering previously owned shares of Common Stock (valued at the Fair Market Value of the Common Stock on the date the Option is exercised) or instructing the Company to withhold that number of shares issuable upon exercise of the Option having a Fair Market Value equal to the purchase price and the amount required for income tax withholding. Any Common Stock delivered in satisfaction of all or any portion of the purchase price shall be appropriately endorsed for transfer and assignment to the Company. No shares shall be issued until full payment therefor therefore has been made and your income tax withholding obligations satisfied. If notice of the exercise of this Option is given by a person or persons other than you, the Company will require the submission to the Company of appropriate proof of the right of such person or persons to exercise this Option. Certificates for shares of the Common Stock so purchased will be issued as soon as practicable. The Company, however, shall not be required to issue or deliver a certificate Certificate for any shares until it has complied with all requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, any stock exchange on Exchange of which the Common Stock may then be listed and all applicable state laws in connection with the issuance or of sale of such shares or the listing of such shares on said exchange. Until the issuance of the certificate for such shares, you or such other person as may be entitled to exercise this Option, shall have none of the rights of a shareholder stockholder with respect to shares subject to this Option.. TO:

How Option May Be Exercised. This Option is exercisable by giving written notice to the Company at its executive offices, signifying your election to exercise the Option. The notice must state the number of shares of Common Stock as to which the Option is being exercised, must contain a statement by you (in a form acceptable to the Company) that such shares are being acquired by you for investment and not with a view to their distribution or resale (unless a registration statement covering the shares purchasable been declared effective by the Securities and Exchange Commission) and must ). The option price upon exercise of the Option, together with any amounts required to be accompanied by check withheld for income tax reporting, shall be payable to the order Company in full, in the Company’s discretion, either: (a) in cash or its equivalent (such equivalence being at the sole discretion of the Company Committee); (b) by tendering previously acquired shares having an aggregate Fair Market Value at the time of exercise equal to the total option price (provided that such shares shall have been held for at least six months); or (c) by withholding from you sufficient shares, subject to this award, having an aggregate Fair Market Value at the full purchase price time of exercise equal to the shares being purchased and such amounttotal option price; or (d) by any combination of (a), if any, as may be required for income tax withholding(b) or (c). No shares shall be issued until full payment therefor has been made and your income tax withholding obligations obligations, if any, have been satisfied. If notice of the exercise of this Option is given by a person or persons other than you, the Company will require the submission to the Company of appropriate proof of the right of such person or persons to exercise this Option. Certificates for shares of the Common Stock so purchased will be issued as soon as practicable. The Company, however, shall not be required to issue or deliver a certificate for any shares until it has complied with all requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, any stock exchange on which the Common Stock may then be listed and all applicable state laws in connection with the issuance or sale of such shares or the listing of such shares on said exchange. Until the issuance of the certificate for such shares, you or such other person as may be entitled to exercise this Option, shall have none of the rights of a shareholder with respect to shares subject to this Option.