Common use of Partial Exercise; Taxes Clause in Contracts

Partial Exercise; Taxes. If Option should be exercised in part only, QUINTEK shall, upon surrender of Option for cancellation, execute and deliver a new Option evidencing the rights of Executive thereof to purchase the balance of the shares purchasable hereunder. Upon receipt by QUINTEK of Option, together with the Exercise Price, at its office, or by the stock transfer agent of QUINTEK at its office, in proper form for exercise, Executive shall be deemed to be the holder of record of the shares of common Stock issuable upon such exercise, notwithstanding that the stock transfer books of QUINTEK shall then be closed or that certificates representing such shares of Common Stock shall not then be actually delivered to Executive. QUINTEK shall pay any and all documentary stamp or similar issuer taxes

Partial Exercise; Taxes. If Option should be exercised in part only, QUINTEK shall, upon surrender of Option for cancellation, execute and deliver a new Option evidencing the rights of Executive Consultant thereof to purchase the balance of the shares purchasable hereunder. Upon receipt by QUINTEK of Option, together with the Exercise Price, at its office, or by the stock transfer agent of QUINTEK at its office, in proper form for exercise, Executive Consultant shall be deemed to be the holder of record of the shares of common Stock issuable upon such exercise, notwithstanding that the stock transfer books of QUINTEK shall then be closed or that certificates representing such shares of Common Stock shall not then be actually delivered to ExecutiveConsultant. QUINTEK shall pay any and all documentary stamp or similar issuer taxes

Partial Exercise; Taxes. If Option should be exercised in part only, QUINTEK shall, upon surrender of Option for cancellation, execute and deliver a new Option evidencing the rights of Executive thereof to purchase the balance of the shares purchasable hereunder. Upon receipt by QUINTEK of Option, together with the Exercise Price, at its office, or by the stock transfer agent of QUINTEK at its office, in proper form for exercise, Executive shall be deemed to be the holder of record of the shares of common Stock issuable upon such exercise, notwithstanding that the stock transfer books of QUINTEK shall then be closed or that certificates representing such shares of Common Stock shall not then be actually delivered to Executive. QUINTEK shall pay any and all documentary stamp or similar issuer taxes.

Partial Exercise; Taxes. If Option should be exercised in part only, QUINTEK shall, upon surrender of Option for cancellation, execute and deliver a new Option evidencing the rights of Executive thereof to purchase the balance of the shares purchasable hereunder. Upon receipt by QUINTEK of Option, together with the Exercise Price, at its office, or by the stock transfer agent of QUINTEK at its office, in proper form for exercise, Executive shall be deemed to be the holder of record of the shares of common Stock issuable upon such exercise, notwithstanding that the stock transfer books of QUINTEK shall then be closed or that certificates representing such shares of Common Stock shall not then be actually delivered to Executive. QUINTEK shall pay any and all documentary stamp or similar issuer taxes. 7