Net Investment Proceeds

Net Investment Proceeds. , with respect to any share of Purchased Stock sold or otherwise transferred by a Participant or a Participant's successor in interest, means the greater of the value of the gross proceeds received for such share or the Market Value of such share on the date of sale or transfer less, in either case, (i) the exercise price of the option for such share plus simple interest on such amount at the rate of 8% per annum to the date of the sale or transfer, (ii) reasonable and customary commissions... paid for the sale or transfer, and (iii) the verified amount of any income taxes paid or payable on the sale or transfer. View More