Cashless Exercise Procedure definition

Cashless Exercise Procedure means delivery to the Company by a Participant exercising an Option of a properly executed exercise notice, acceptable to the Company, together with irrevocable instructions to the Participant's broker to deliver to the Company sufficient cash to pay the exercise price and any applicable income and employment withholding taxes, in accordance with a written agreement between the Company and the brokerage firm.
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Cashless Exercise Procedure means delivery to the Corporation by a Participant exercising an Option of a properly executed exercise notice, acceptable to the Corporation, together with irrevocable instructions to the Participant’s broker to deliver to the Corporation sufficient cash to pay the exercise price and any applicable income and employment withholding taxes, in accordance with a written agreement between the Corporation and the brokerage firm.
Sample 1Sample 2

Examples of Cashless Exercise Procedure in a sentence

  • Upon request, the Company shall deliver to the Optionee a certificate or certificates for the number of Option Shares (reduced, if applicable, by the number of Option Shares sold on the Option Exercise Date pursuant to the Cashless Exercise Procedure) purchased by the Optionee, registered in the name of the Optionee.

  • A Participant may use the Cashless Exercise Procedure or may tender previously acquired shares of Common Stock that have been held at least six months to satisfy the withholding obligation in whole or in part, such shares being valued for such purpose at Fair Market Value; provided that the Company shall not withhold from exercise more shares than are necessary to satisfy the established requirements of federal, state and local tax withholding obligations.

  • At the discretion of the Committee, as set forth in a Participant's Option Agreement, the purchase price may be paid by using the Cashless Exercise Procedure if the relevant agreement between the Company and the Participant's broker referred to in the definition of such term has been executed by the Company and such broker.

  • Corporation's Right to Withhold; Use of Previously-Acquired Shares and Cashless Exercise Procedure.

  • The purchase price may also be paid by using the Cashless Exercise Procedure if the relevant agreement between the Company and the Participant’s broker referred to in the definition of such term has been executed by the Company and such broker.

  • As soon as practicable after receipt of payment of the Option Price for shares of Common Stock, the Company shall deliver to the Optionee a certificate or certificates for such shares unless (i) such certificate or certificates have been previously delivered to a broker pursuant to a Cashless Exercise Procedure or (ii) the Award Agreement for the related Incentive Stock Options allows the Plan Administrator or the Optionee to defer delivery of such certificates.

  • If you fail to include a cheque in accordance with the above, but have ticked a relevant box in Column C, you will be deemed to have elected to make use of the Cashless Exercise Procedure.

  • As soon as practicable after receipt of payment of the Option Price for shares of Common Stock, the Company shall deliver to the Optionee a certificate or certificates for such shares unless (i) such certificate or certificates have been previously delivered to a broker pursuant to a Cashless Exercise Procedure or (ii) the Award Agreement for the related Stock Options allows the Plan Administrator or the Optionee to defer delivery of such certificates.

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  • Tick the appropriate box in Column D if you do NOT wish to use the Cashless Exercise Procedure offered by MRI.

Related to Cashless Exercise Procedure

  • Exercise Price means the initial exercise price or the adjusted exercise price, depending on the context.

  • Cashless facility means a facility extended by the insurer to the insured where the payments, of the costs of treatment undergone by the insured in accordance with the policy terms and conditions, are directly made to the network provider by the insurer to the extent pre-authorization approved.

  • Minimum Exercise Amount means the Minimum Exercise Amount as specified in § 1 of the Product and Underlying Data.

  • Nonstatutory Option means a stock option not described in Sections 422(b) or 423(b) of the Code.