Broker Exercise Notice definition

Broker Exercise Notice means a written notice pursuant to which a Participant, upon exercise of an Option, irrevocably instructs a broker or dealer to sell a sufficient number of shares or loan a sufficient amount of money to pay all or a portion of the exercise price of the Option and/or any related withholding tax obligations and remit such sums to the Company and directs the Company to deliver stock certificates to be issued upon such exercise directly to such broker or dealer or their nominee.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Broker Exercise Notice means the written notice described in Section 6.6(b) of the Plan.

Broker Exercise Notice means a written notice pursuant to which Optionee, upon exercise of an Option, irrevocably instructs a broker or dealer to sell a sufficient number of shares or loan a sufficient amount of money to pay all or a portion of the exercise price of the Option and/or any related withholding tax obligations and remit such sums to the Company and directs the Company to deliver stock certificates to be issued upon such exercise directly to such broker or dealer.

Examples of Broker Exercise Notice in a sentence

• In the event that the Option is being exercised, as provided by resolutions of the Committee and Section 4.2 below, by tender of a Broker Exercise Notice, the Company will deliver such shares directly to the Optionee’s broker or dealer or their nominee.

• For purposes of this Agreement, the terms "Broker Exercise Notice" and "Previously Acquired Shares" shall have the meanings set forth in the Plan.

• At the time of exercise of the Option, the Optionee may determine whether to pay the total exercise price of the Option Shares to be purchased solely in cash, through a Broker Exercise Notice (as defined in the Plan), by transfer from the Optionee to the Company of Previously Acquired Shares (as defined in the Plan), or by a combination of such methods.

• At the time of exercise of this Option, the Optionee will pay the total purchase price of the Option Shares to be purchased solely in cash (including a check, bank draft or money order, payable to the order of the Company); provided, however, that the Committee, in its sole discretion, may allow such payment to be made, in whole or in part, by tender of a Broker Exercise Notice, Previously Acquired Shares or by a combination of such methods.

• In the event that the Option is being exercised, as provided by resolutions of the Committee and Section 4.2 below, by tender of a Broker Exercise Notice (as defined in the Plan), the Company will deliver such shares directly to the Optionee’s broker or dealer or their nominee.

More Definitions of Broker Exercise Notice

Broker Exercise Notice means a written notice pursuant to which the Employee, upon exercise of the Option, irrevocably instructs a broker or dealer to sell a sufficient number of shares or loan a sufficient amount of money to pay all or a portion of the exercise price of the Option and/or any related withholding tax obligations and remit such sums to the Company and directs the Company to deliver stock certificates to be issued upon such exercise directly to such broker or dealer.

Broker Exercise Notice means a written notice from the Holder to the Company at its principal executive office in Minneapolis, Minnesota (Attention: Chief Executive Officer), pursuant to which the Holder irrevocably elects to exercise all or any portion of this Option and irrevocably directs the Company to deliver the Holder's stock certificates to be issued to the Holder upon such Option exercise directly to a broker or dealer. A Broker Exercise Notice must be accompanied by or contain irrevocable instructions to the broker or dealer (i) to promptly sell a sufficient number of shares of such Common Stock or to loan the Holder a sufficient amount of money to pay the aggregate Option Exercise Price and, if not otherwise satisfied by the Holder, to fund any related employment and withholding tax obligations due upon such exercise, and (ii) to promptly remit such sums to the Company upon the broker's or dealer's receipt of the stock certificates. Notwithstanding the foregoing, however, the Company shall not be required to deliver any certificates for the Option Shares, except in accordance with the provisions and subject to the limitations of Section 6 below.

Broker Exercise Notice means a written notice pursuant to which a Participant, upon exercise of an Option, irrevocably instructs a broker or dealer to sell a sufficient number of Shares to pay

Broker Exercise Notice means a written notice from the Optionee to the Company at its principal executive office in Edina, Minnesota (Attention: Chief Financial Officer), made on a form and in the manner as the Company may from time to time determine, pursuant to which the Optionee irrevocably elects to exercise all or any portion of the Option and irrevocably directs the Company to deliver the Optionee's stock certificates to be issued to such Optionee upon such Option exercise directly to a broker or dealer. A Broker Exercise Notice must be accompanied by or contain irrevocable instructions to the broker or dealer (i) to promptly sell a sufficient number of shares of such Common Stock or to loan the Optionee a sufficient amount of money to pay the exercise price for the Options and, if not otherwise satisfied by the Optionee, to fund any related employment and withholding tax obligations due upon such exercise, and (ii) to promptly remit such sums to the Company upon the broker's or dealer's receipt of the stock certificates.

Broker Exercise Notice means a written notice pursuant to which a Participant, upon exercise of an Option, irrevocably instructs a broker or dealer to sell a sufficient number of shares or loan a sufficient amount of money to pay all or a portion of the exercise price of the Option and/or any

Broker Exercise Notice means a written notice from a Participant to the Company's corporate secretary, made on a form and in a manner as the Committee may from time to time determine, pursuant to which the Participant irrevocably elects to exercise all or any portion of an Option and irrevocably directs the Company to deliver the Participant's Common Stock certificates to be issued to such Participant upon such Option exercise directly to a "broker" or "dealer" (within the meaning of Section 3(a) of the Exchange Act). A Broker Exercise Notice must be accompanied by or contain irrevocable instructions to the broker or dealer: (a) to promptly sell a sufficient number of shares of such Common Stock or to loan the Participant a sufficient amount of money to pay the exercise price for the Options and to fund any related employment and withholding tax obligations to which Broker Exercise Notice relates; and (b) to promptly remit such sums to the Company upon the broker's or dealer's receipt of the certificates.

Broker Exercise Notice means a written notice pursuant to which a Participant, upon exercise of an Option, irrevocably instructs a broker or