Common use of Grant Type Clause in Contracts

Grant Type. In no event shall the Option be intended to constitute for United States income tax purposes an Incentive Stock Option or to qualify for special United States federal income tax treatment under section 422 of the Code, nor is the Option intended to qualify for special tax treatment under Schedule 4 to the Income Tax (Earnings and pensions) Xxx 0000. Section 12 of the Option Agreement shall be inapplicable.

Grant Type. In no event shall the Option be intended to constitute for United States income tax purposes an Incentive Stock Option or to qualify for special United States federal income tax treatment under section 422 of the Code, nor is the Option intended to qualify for special tax treatment under Schedule 4 to the Income Tax (Earnings and pensions) Xxx 0000. Section 12 of the Option Agreement shall be inapplicable.