Net Exercise

Net Exercise. A procedure for exercising an Option, subject to Section 19.6, by which the grantee will receive a number of Shares determined in accordance with the following formula: N = X(A-B)/A, where "N" = the number of Shares to be delivered to the grantee upon exercise of the Option, rounded to the next lower whole number of Shares; "X" = the total number of whole Shares with respect to which the grantee has elected to exercise the Option; "A" = the Fair Market Value of one (1) Share on the exercise... date; and "B" = the Exercise Price per Share View More

Net Exercise. A Participant's ability to exercise an Option by directing the Company to deduct from the Shares issuable upon exercise of his or her Option a number of Shares having an aggregate Fair Market Value equal to the sum of the aggregate exercise price therefor plus the amount of the Participant's minimum tax withholding (if any), whereupon the Company shall issue to the Participant the net remaining number of Shares after such deductions

Net Exercise. Means a procedure by which the Grantee will be issued a number of whole Units upon the exercise of an Option determined in accordance with the following formula: N = X(A-B)/A, where "N" = the number of Units to be issued to the Grantee upon exercise of the Option; "X" = the total number of Units with respect to which the Grantee has elected to exercise the Option; "A" = the Fair Market Value of a Unit determined on the exercise date; and "B" = the exercise price per Unit (as defined in... the Option Agreement) View More

Net Exercise. To the extent that an Award Agreement so provides and as permitted by Applicable Law, a program approved by the Committee in which payment may be made all or in part by delivery (on a form prescribed by the Committee) of an irrevocable direction to a securities broker to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate exercise price plus the amount of the Participant's minimum tax withholding (if any)