Common use of Non-Qualified Option Clause in Contracts

Non-Qualified Option. It is the intent of the parties hereto that this Option be a non-qualified stock option and subject to all of the applicable provisions of the Internal Revenue Code of 1986, as amended. The Company recognizes that the Optionee may be subject to restrictions regarding his or her right to trade Common Stock under applicable securities laws. Accordingly, the Optionee may want to consider making an election to be taxed upon exercise of this Option under Section 83(b) of the Code. The Optionee shall have sole discretion to make such an election and shall be solely responsible for complying with the Code and all relevant rules and regulations in connection with such election. The Optionee shall provide written notice to the Company of such election immediately after making such election.