Also another interesting clause to protect the shareholder...
Net Share Exercise . If during the Exercise Period (i) the Fair Market Value (as defined below) of one share of the Common Stock is greater than the Exercise Price (at the date of calculation as set forth below), and (ii) the Exercise Shares are not registered for resale pursuant to an effective registration statement, in lieu of exercising this Option by payment of cash or by wire transfer of immediately available funds, the Holder may, at his own discretion, effect a “net share exercise” of this Option, in which event, if so effected, the Holder shall receive Exercise Shares equal to the value (as determined below) of this Option (or the portion thereof being canceled) by delivering the properly endorsed Notice of Exercise to the principal office of the Company in which event the Company shall deliver to the Holder a number of shares of Common Stock computed using the following formula:
X = Y(A-B)
A
Where X = the number of Exercise Shares to be delivered to the Holder
Y = the number of Exercise Shares with respect to which this Option is being exercised
A = the Fair Market Value (as defined below) of one share of the Company’s Common Stock (at the date of such calculation)
B = the Exercise Price (as adjusted to the date of such calculation)
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