Common use of Holding period for Incentive Stock Options Clause in Contracts

Holding period for Incentive Stock Options. In order to obtain the favorable tax treatment currently provided by Section 422 of the Code, the shares of Common Stock must be sold, if at all, after a date which is the later of two (2) years from the date this agreement is entered into or one (1) year from the date upon which the Options are exercised. The Optionee agrees to report sales of such shares prior to the above determined date within one (1) business day after such sale is concluded. Any tax withholding would be due to the Company at this time.

Holding period for Incentive Stock Options. In order to obtain the favorable tax treatment currently provided by Section 422 of the Code, the shares of Common Stock must be sold, if at all, after a date which is the later of two (2) years from the date this agreement is entered into of grant of the Incentive Stock Option or one (1) year from the date upon which the Options are Option is exercised. The Optionee agrees to report sales of such shares prior to the above determined date within one (1) business day after such sale is concluded. Any tax withholding would be due to the Company at this time.