Common use of Loss of Incentive Stock Option Status Clause in Contracts

Loss of Incentive Stock Option Status. If any portion of this Option shall fail, for any reason, to qualify as an “incentive stock option” under Section 422 of the Code (or any successor provision), it shall be treated as a Nonqualified Option under the Plan. The Optionee acknowledges that this Option will lose such qualification if: (a) this Option is exercised by the Optionee more than three months after the Optionee’s Termination of Employment (if and to the extent this Option is still then exercisable); or (b) the Option Shares acquired upon exercise of this Option are sold or otherwise disposed of within one of the time periods described in Section 7.

Loss of Incentive Stock Option Status. If any portion of this Option shall fail, for any reason, to qualify as an “incentive stock option” under Section 422 of the Code (or any successor provision), it shall be treated as a Nonqualified Non-Qualified Stock Option under the Plan. The Optionee acknowledges that this Option will lose such qualification if: (a) this Option is exercised by the Optionee more than three months after the Optionee’s Termination of Employment Optionee has ceased to be an Employee (if and to the extent this Option is still then exercisable); or (b) the Option Shares acquired upon exercise of this Option are sold or otherwise disposed of within one of the time periods described in Section 76.