Common use of Deferral of Option Gains Clause in Contracts

Deferral of Option Gains. The Optionee shall have the right, by furnishing written notice to the Company at least six months prior to any exercise of this option, to elect to defer any gains realized upon or in connection with such exercise. Any such deferral, including the manner of exercise of this option in connection with such deferral, shall be made in such manner as may reasonably be required by the Company in order to defer such gains for Federal income tax purposes. At the time the Optionee elects to defer such gains, such gains shall be deferred into any non-qualified deferral plan of the Company that accepts such deferrals on terms that satisfy the requirements of the preceding sentence. If no such plan is available, the Optionee may make an irrevocable election to defer such gains into Share Units (with a "Share Unit" representing a share of Common Stock, including any dividends and other distributions that may be declared or made thereon during the period of the deferral). Amounts deferred under this Section 4 shall be paid out under the terms of the Optionee's election to defer.

Deferral of Option Gains. The Optionee shall have the right, by furnishing written notice to the Company at least six months prior to any exercise of this optionOption, to elect to defer any gains realized upon or in connection with such exercise. Any such deferral, including the manner of exercise of this option Option in connection with such deferral, shall be made in such manner as may reasonably be required by the Company Company, including such requirements as may apply in order to defer such gains for Federal income tax purposespurposes and as the independent public accountants for the Company reasonably advise are necessary in order that such gains not result in a charge against the earnings of the Company. At the time the Optionee elects to defer such gains, such gains shall be deferred into any non-qualified deferral plan of the Company that accepts such deferrals on terms and conditions that satisfy the requirements of the preceding sentence. If no such plan is available, the Optionee may make an irrevocable written election to defer such gains into Share Units (with a "each Share Unit" Unit representing a share of Common StockShare, including the right to be credited with any dividends and or other distributions that may be declared or made thereon during the period of the deferral). Amounts deferred under this Section 4 10 shall be paid out under the terms of the Optionee's ’s election to defer.

Deferral of Option Gains. The Optionee shall have the right, by furnishing written notice to the Company at least six months prior to any exercise of this optionOption, to elect to defer any gains realized upon or in connection with such exercise. Any such deferral, including the manner of exercise of this option Option in connection with such deferral, shall be made in such manner as may reasonably be required by the Company Company, including such requirements as may apply in order to defer such gains for Federal income tax purposespurposes as the independent public accountants for the Company reasonably advise are necessary in order that such gains not result in a charge against the earnings of the Company. At the time the Optionee elects to defer such gains, such gains shall be deferred into any non-qualified nonqualified deferral plan of the Company that accepts such deferrals on terms and conditions that satisfy the requirements of the preceding sentence. If no such plan is available, the Optionee may make an irrevocable written election to defer such gains into Share Units (with a "each Share Unit" Unit representing a share of Common StockShare, including the right to be credited with any dividends and or other distributions that may be declared or made thereon during the period of the deferral). Amounts deferred under this Section 4 10 shall be paid out under the terms of the Optionee's election to defer.