Stock Payment. Provided that prior approval of the Committee has been obtained, the Employee may use Common Stock of the Company owned by him to pay the purchase price for the Option Shares by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value.
Appears in 5 contracts
Samples: Stock Option Agreement (Long Island Iced Tea Corp.), Stock Option Agreement (Long Island Iced Tea Corp.), Stock Option Agreement (Thomas Philip J.)
