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This excerpt taken from the AXTI 8-K filed Sep 9, 2005. Method of Exercise. Exercise of the Option shall be by written
notice to the Company which must state the election to exercise the Option, the
number of whole shares of Stock for which the Option is being exercised and
such other representations and agreements as to the Optionee’s investment
intent with respect to such shares as may be required pursuant to the
provisions of this Option Agreement. The
written notice must be signed by the Optionee and must be delivered in person,
by certified or registered mail, return receipt requested, by confirmed
facsimile transmission, or by such other means as the Company may permit, to
the Chief Financial Officer of the Company, or other authorized representative
of the Participating Company Group, prior to the termination of the Option as
set forth in Section 6, accompanied by full payment of the aggregate
Exercise Price for the number of shares of Stock being purchased. The Option shall be deemed to be exercised
upon receipt by the Company of such written notice and the aggregate Exercise
Price.
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