CODE SECTION 409A NOT TO APPLY Sample Clauses

CODE SECTION 409A NOT TO APPLY. It is the Company’s intention that Code Section 409A shall not apply to the Option granted hereunder. The Exercise Price for each share subject to the Option may never be less than 100% the Fair Market Value on the date the Option is granted except in the case of adjustments permitted by the Plan, and there shall be no deferral of compensation under the Option other than the deferral of recognition of income until the later of exercise or disposition of the Option under Section 1.83-7 of the Income Tax Regulations.