Common use of Nonqualified Stock Option Clause in Contracts

Nonqualified Stock Option. The Optionee may incur regular federal income tax liability upon exercise of a NQO. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If the Optionee is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if these withholding amounts are not delivered at the time of exercise.

Nonqualified Stock Option. The Optionee Participant may incur regular federal income tax liability upon exercise of a NQONQSO. The Optionee Participant will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market value Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If the Optionee Participant is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee Participant and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if these such withholding amounts are not delivered at the time of exercise.

Nonqualified Stock Option. The Optionee may incur regular federal income tax liability upon exercise of a NQOthe NSO. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market value Value of the Exercised Shares on the date of exercise over their aggregate total Exercise Price. If the Optionee is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if these such withholding amounts are not delivered at the time of exercise.