Common use of Means of Payment Clause in Contracts

Means of Payment. The Administrator may, in its sole discretion, permit the Optionee to satisfy, in whole or in part, any withholding tax obligation which may arise in connection with the Option by any of the following means or by a combination of such means: (i) tendering a cash payment, (ii) authorizing the Corporation to deduct any such tax obligations from any payment of any kind otherwise due to the Optionee, (iii) authorizing the Corporation to withhold shares of Common Stock otherwise issuable to the Optionee pursuant to the exercise of this Option, or (iv) delivering to the Corporation unencumbered shares of Common Stock already owned by the Optionee.

Appears in 21 contracts

Samples: Non Qualified Stock Option Grant Agreement (Go-Page Corp), Qualified Stock Option Grant Agreement (Go-Page Corp), Qualified Stock Option Grant Agreement (Scio Diamond Technology Corp)

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Means of Payment. The Administrator may, in its sole discretion, permit the Optionee to satisfy, in whole or in part, any withholding tax obligation which may arise in connection with the Option Options by any of the following means or by a combination of such means: (i) tendering a cash payment, ; (ii) authorizing the Corporation Company to deduct any such tax obligations from any payment of any kind otherwise due to the Optionee, ; (iii) authorizing the Corporation Company to withhold shares of Common Stock otherwise issuable to the Optionee pursuant to the exercise of this Option, the Options; or (iv) delivering to the Corporation Company unencumbered shares of Common Stock already owned by the Optionee.

Appears in 8 contracts

Samples: Incentive Stock Option Grant Agreement (Mechanical Technology Inc), Stock Option Grant Agreement (Mechanical Technology Inc), Incentive Stock Option Grant Agreement (Howard Bancorp Inc)

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