Shares Issued on Exercise of Option. It is the intention of the Company that on any exercise of this option it will transfer to Optionee shares of its authorized but unissued stock or transfer Treasury shares, or utilize any combination of Treasury shares and authorized but unissued shares, to satisfy its obligations to deliver shares on any exercise hereof. Notwithstanding the foregoing, so long as the Deposit and Trust Agreement referred to in Paragraph 2 of the Plan remains in effect, Optionee will be issued Common Stock Trust Receipts upon exercise of this option in lieu of shares of Common Stock in accordance with the terms of said Agreement.
Appears in 4 contracts
Samples: Incentive Stock Option Agreement (Esco Electronics Corp), Incentive Stock Option Agreement (Esco Electronics Corp), Nonqualified Stock Option Agreement (Esco Electronics Corp)
