Sentence:  Based on the analyses throughout the case study, it is recommended that the use of a model that assumes an ESO is European style when, in fact, the option is <WSD>American</WSD> style with the other exotic variables should not be permitted, as this substantially overstates compensation expenses. 
Meaning of the word marked with <WSD> tags:  (not comparable) Can be exercised on any date between the issue date and the expiry date.