Limitation on the Number of Shares. The tax treatment set forth in Section 422 of the Code is subject to certain limitations. These limitations, which are described in Section 5(a) of the Plan and are based upon the Code, generally limit the number of shares that will qualify under Section 422 in any given calendar year. Under Section 5(a) any portion of an Option that exceeds the annual limit shall be a “Non-Qualified Stock Option.” The Company can make no representation that any of this Option will actually qualify under Section 422 when exercised.
Appears in 7 contracts
Samples: Stock Option Agreement (Expeditors International of Washington Inc), Stock Option Agreement (Expeditors International of Washington Inc), Incentive Stock Option Agreement (Expeditors International of Washington Inc)
Limitation on the Number of Shares. The tax treatment set forth in Section 422 of the Code is subject to certain limitations. These limitations, which are described in Section 5(a) of the Plan and are based upon the Code, generally limit the number of shares that will qualify under Section 422 in any given calendar year. Under Section 5(a) any portion of an Option that exceeds the annual limit shall be a “"Non-Qualified Stock Option.” " The Company can make no representation that any of this Option will actually qualify under Section 422 when exercised.
Appears in 1 contract
Samples: Incentive Stock Option Agreement (Expeditors International of Washington Inc)
