Permitted Consideration Clause Samples
Permitted Consideration. The purchase price of any Shares purchased upon exercise of an A&M Option shall be paid in full at the time of each purchase in one or a combination of the following methods: (i) in cash or by electronic funds transfer; (ii) by check payable to the order of the Company; (iii) by notice and third party payment in such manner as may be permitted by the Board of Directors, or the Compensation Committee of the Board of Directors, of the Company (the "Committee"); (iv) in the event A&M shall exercise any A&M Options and sell the Shares acquired upon such exercise to the Company in connection with the occurrence of any of the events described in Sections 7 and 8 of the Management Services Agreement and with the prior written consent of the Company, by a "cashless exercise" whereby A&M shall pay the applicable exercise price with the proceeds of such sale; or (v) by the delivery of Shares already owned by the Optionee (other than shares subject to the Pledge Agreement); provided, however, that the Committee may in its absolute discretion limit or deny the Optionee's ability to exercise any A&M Option by the means set forth in clauses (iii), (iv) or (v) above. Any Shares that the Committee permits to be used to satisfy the exercise price of any A&M Option shall be valued at their Market Price (as defined in Section 8(d)) on the date of exercise and shall have been owned by the Optionee for at least six months prior to the exercise.
Permitted Consideration. The purchase price of any shares purchased on exercise of a vested Option shall be paid in full at the time of each purchase in one or a combination of the following methods: (i) in cash or by electronic funds transfer; (ii) by check payable to the order of the Company; or (iii) by delivery of shares owned by Executive or vested stock options (whether Options or other stock options) held by Executive (in the case of options, to be valued per option as the difference between the exercise price thereof and the price per share of the stock to which such option pertains, as such stock price is determined below). Any shares (or the value of shares used for determining the value of the options) used to satisfy the Exercise Price of an Option shall be valued (i) if the shares are traded on the New York Stock Exchange, at the closing price as reported by such exchange for the trading day immediately preceding the Exercise Date, (ii) if such shares are not traded on the New York Stock Exchange, but are traded on another national exchange, at the closing price as reported by such exchange for the trading day immediately preceding the Exercise Date, (iii) if the shares are not traded on an exchange but are reported on NASDAQ, then at the closing price as reported on NASDAQ for the trading day immediately preceding the Exercise Date, or (iv) if the shares are not traded on any of the foregoing, then at their fair market value on the Exercise Date as mutually determined by the Board of Directors and Executive (if unable to agree, then determined by arbitration under Section 7. Any shares or options surrendered as payment of the Exercise Price and shall have been owned by Executive or have been vested for at least six months prior to the Exercise Date.
Permitted Consideration. The purchase price of any shares purchased on exercise of a vested option shall be paid in full at the time of each purchase
Permitted Consideration. The purchase price of any shares ----------------------- purchased on exercise of a vested option shall be paid in full at the time of each purchase in one or a combination of the following methods: (i) in cash or by electronic funds transfer; (ii) by check payable to the order of the Company; or (iii) by the delivery of shares owned by Executive or vested stock options held by Executive. Any shares or stock options used to satisfy the Exercise Price of an option shall be valued at their fair market value on the date of exercise (as mutually determined by the Board of Directors and Executive) and shall have been owned by Executive or have been vested for at least six months prior to the exercise.