Common use of Grantee’s Agreement Clause in Contracts

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) With respect to the calendar year in which options are exercised, the Grantee shall include in his gross income for federal income tax purposes the amount, if any, by which the fair market value of the Common Stock on the date of exercise as determined in Section 6.7(b) of the Plan exceeds the Option Price; (b) The grant of the options is special incentive compensation which shall not be taken into account as "wages" or "salary" in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock or deferred compensation plan of the Company, as the case may be; and (c) On behalf of the Grantee's beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any subsidiary.

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) With respect to the calendar year in which options are any portion of the Option is exercised, the Grantee shall include in his gross income for federal income tax purposes the amount, if any, by which the fair market value Fair Market Value (as determined in accordance with the Plan) of the Common Stock issuable on the date of exercise as determined in Section 6.7(b) of the Plan exceeds the Option Price;option price; and (b) The grant of the options Options is special incentive compensation which shall not be taken into account as "“wages" ” or "“salary" ” in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock or deferred compensation plan of the Company, as the case may be; and (c) On behalf of the Grantee's ’s beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any subsidiaryCompany.

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) With respect to the calendar year in which such options are exercised, the Grantee shall include in his gross income for federal income tax purposes the amount, if any, by which the fair market value of the Common Stock stock on the date of exercise exercise, as determined in Section 6.7(b6.7(d) of the Plan Plan, exceeds the Option Priceoption price; (b) The grant of the options is special incentive compensation which shall not be taken into account as "wages" or "salary" in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock stock, or deferred compensation plan of the Company, as the case may be; and (c) On In behalf of the Grantee's beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any subsidiary.

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) With respect to the calendar year in which options are any portion of the Option is exercised, the Grantee shall include in his gross income for federal income tax purposes the amount, if any, by which the fair market value of the Common Stock on the date of exercise (as determined by the Board, in Section 6.7(bits sole discretion) of the Plan stock issuable on the Exercise Date exceeds the Option Price;option price; and (b) The grant of the options Option is special incentive compensation which shall not be taken into account as "“wages" ” or "“salary" ” in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock or deferred compensation plan of the Company, as the case may be; and (c) On behalf of the Grantee's ’s beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any subsidiaryCompany.

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) With respect to the calendar year in which options are any portion of the Option is exercised, the Grantee shall include in his gross income for federal income tax purposes the amount, if any, by which the fair market value Fair Market Value (as determined in accordance with the Plan) of the Common Stock issuable on the date of exercise as determined in Section 6.7(b) of the Plan exceeds the Option Price;option price; and (b) The grant of the options Options is special incentive compensation which shall not be taken into account as "“wages" ” or "“salary" ” in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock or deferred compensation plan of the Company, as the case may be; and (c) On behalf of the Grantee's beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any subsidiaryCompany.