Broker Assisted Exercise

Broker Assisted Exercise. A special sale and remittance procedure pursuant to which the Holder of an Option shall concurrently provide irrevocable written instructions to (a) an Administrator designated brokerage firm ('Broker') to effect the immediate sale of the Reserved Shares and remit to the Administrator, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Option Price plus all applicable Federal, state and local income and employment taxes required to be withheld by... the Company, and (b) the Administrator to deliver the certificates for the Shares directly to such brokerage firm in order to complete the sale View More