Stock Option Exercise Procedures Clause Samples
The Stock Option Exercise Procedures clause outlines the steps an employee or option holder must follow to exercise their stock options. Typically, this involves submitting a formal notice to the company, specifying the number of shares to be purchased, and providing payment for those shares according to the terms of the option agreement. This clause ensures that the process for converting options into actual shares is clear and standardized, reducing confusion and minimizing disputes over how and when options can be exercised.
Stock Option Exercise Procedures. To exercise this Option, Optionee (or in the case of exercise after Optionee's death, Optionee's executor, administrator, heir or legatee, as the case may be) must follow such exercise procedures as may be established by the Committee from time to time in its sole discretion. Such procedures may include requiring that the Optionee provide certain information including, inter alia, Optionee's election to exercise this Option, the number of Shares being purchased, any restrictions imposed on the Shares and any representations, warranties and agreements regarding Optionee's investment intent and access to information as may be required by the Company to comply with applicable securities laws. If someone other than Optionee exercises this Option, then such person may be required to submit documentation reasonably acceptable to the Company that such person has the right to exercise this Option.
Stock Option Exercise Procedures. Subject to the terms and conditions of the Plan and this Agreement, you (or, pursuant to Paragraph 7 of this Agreement, a party acting on your behalf after your death) may exercise your Stock Options in whole or, from time to time, in part pursuant to the procedures described in the Prospectus relating to the Plan or as otherwise specified by the Company from time to time. Payment of the full purchase price of the shares of Stock covered by the exercise shall be made in the manner prescribed by the Committee from time to time. If the Committee, in its sole discretion, shall determine that it is appropriate to do so, such payment may be made in whole or in part by tender of shares of unrestricted Stock, as set forth in Section 5 of the Plan, subject to such requirements or procedures as the Committee may specify.
Stock Option Exercise Procedures. Subject to the terms and conditions of the Plan and this Agreement, you (or, pursuant to Paragraph 7 of this Agreement, a party acting on your behalf after your death) may exercise the Stock Option in whole or, from time to time, in part by way of a written notice delivered to the Corporate Secretary of the Company which includes the following: (i) your name, mailing address and social security number and the date of the notice; (ii) the number of shares of Stock with respect to which the Stock Option is being exercised; (iii) the date of grant and the Option Price with respect to the Stock Option being exercised; and (iv) the signature of you or a party acting on your behalf after your death. Payment of the full
Stock Option Exercise Procedures. To exercise this Option, Optionee (or in the case of exercise after Optionee’s death, Optionee’s executor, administrator, heir or legatee, as the case may be) shall execute and deliver to the Company an option exercise notice (the "Option Exercise Notice" or "Exercise Notice"), and pay the Exercise Price with respect to the number of Options then being exercised, by immediately available funds. Exercise of the Options shall not be deemed effective until receipt of the Exercise Notice and payment of the full amount of consideration for the Options then being exercised, together with such additional documents and information as the Company may reasonably require.
Stock Option Exercise Procedures