Common use of Payment of Option Price Clause in Contracts

Payment of Option Price. Payment in full of the Option Price shall be made at the time of the written notice of exercise of the Option: (i) in cash or by check payable to the order of the Corporation; (ii) by delivery of shares of Common Stock already owned by and in the Participant’s possession; or (iii) any combination thereof. Shares of Common Stock which the Participant previously held and surrendered in accordance with rules and regulations adopted by the Committee for the purpose of making full or partial payment of the Option Price shall be valued for such purpose at the Fair Market Value thereof on the date the Option, or portion thereof, is exercised.

Payment of Option Price. Payment in full of the Option Price shall be made at the time of the written notice of exercise of the Option: (i) in cash or by check payable to the order of the Corporation; (ii) by delivery of shares of Series A Common Stock already owned by and in the Participant’s possession; or (iii) any combination thereof. Shares of Series A Common Stock which the Participant previously held and surrendered in accordance with rules and regulations adopted by the Committee for the purpose of making full or partial payment of the Option Price shall be valued for such purpose at the Fair Market Value thereof on the date the Option, or portion thereof, is exercised.