Common use of Effect of Failure to Qualify for Incentive Stock Option Treatment Clause in Contracts

Effect of Failure to Qualify for Incentive Stock Option Treatment. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of this option prior to the later of (i) two years from the date of grant or (ii) one year from the date the shares of Common Stock are acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence. In the event of any such disposition, or if any other event occurs such that Optionee recognizes compensation income with respect to this option, Optionee shall deliver to the Company any amount of federal or state income tax withholding required by law. If Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to Optionee any tax required to be withheld by reason of any disposition or other event described in this Section.

Effect of Failure to Qualify for Incentive Stock Option Treatment. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of this option prior to the later of (i) two years from the date Date of grant Grant or (ii) one year from the date the shares of Common Stock are acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence. In the event of any such disposition, or if any other event occurs such that Optionee recognizes compensation income with respect to this option, Optionee shall deliver to the Company any amount of federal or state income tax withholding required by law. If Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to Optionee any tax required to be withheld by reason of any disposition or other event described in this Section.

Effect of Failure to Qualify for Incentive Stock Option Treatment. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of this option the Option prior to the later of (i) two years from the date Date of grant Grant or (ii) one year from the date the shares of Common Stock are acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence. In the event of any such disposition, or if any other event occurs such that Optionee recognizes compensation income with respect to this option, Optionee shall deliver to the Company any amount of federal or state income tax withholding required by law. If Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to Optionee any tax required to be withheld by reason of any disposition or other event described in this Section.