Common use of Notice of Disposition Clause in Contracts

Notice of Disposition. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of an Option granted hereunder prior to the earlier of (i) two years from the date of this Option Agreement or (ii) one year from the date the shares of Common Stock were acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence and deliver to the Company any amount of federal or state income tax withholding required by law. Payment of the withholding shall be made in accordance with Section 10 of the Plan. If the Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to the Optionee any tax required to be withheld by reason of any disposition named herein.

Appears in 4 contracts

Samples: Incentive Stock Option Agreement (Castle Dental Centers Inc), Incentive Stock Option Agreement (First Community Capital Corp), Incentive Stock Option Agreement (Castle Dental Centers Inc)

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Notice of Disposition. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of an Option any Options granted hereunder prior to the earlier of (i) two years from the date of this Option Agreement or (ii) one year from the date the shares of Common Stock were acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence and deliver to the Company any amount of federal or state income tax withholding required by law. Payment of the withholding shall be made in accordance with Section 10 of the Plan. If the Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to the Optionee any tax required to be withheld by reason of any disposition named herein.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Century Bancshares Inc), Incentive Stock Option Agreement (Century Bancshares Inc)

Notice of Disposition. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of an Option granted hereunder prior to the earlier of (i) two years from the date of this Option Agreement or (ii) one year from the date the shares of Common Stock were acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence and deliver to the Company any amount of federal or state income tax withholding required by law. Payment of the withholding shall be made in accordance with Section 10 11 of the Plan. If the Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to the Optionee any tax required to be withheld by reason of any disposition named herein.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Gni Group Inc /De/)

Notice of Disposition. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of an Option granted hereunder prior to the earlier of (i) two years from the date of this Option Agreement or (ii) one year from the date the shares of Common Stock were are acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence and deliver to the Company any amount of federal or state income tax withholding required by law. Payment of the withholding shall be made in accordance with Section 10 of the Plan. If the Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to the Optionee any tax required to be withheld by reason of any disposition named herein.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Allegiance Bancshares, Inc.)

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Notice of Disposition. If Optionee disposes of any shares of Common Stock acquired pursuant to the exercise of an Option granted hereunder prior to the earlier of (iI) two years from the date of this Option Agreement or (ii) one year from the date the shares of Common Stock were acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence and deliver to the Company any amount of federal or state income tax withholding required by law. Payment of the withholding shall be made in accordance with Section 10 11 of the Plan. If the Optionee fails to pay the withholding tax, the Company is authorized and Optionee hereby consents to withhold from any cash remuneration then or thereafter payable to the Optionee any tax required to be withheld by reason of any disposition named herein.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Mail Well Inc)

Notice of Disposition. If Optionee disposes of any shares of ---------------------- Common Stock acquired pursuant to the exercise of an Option granted hereunder prior to the earlier of (i) two years from the date of this Option Agreement or (ii) one year from the date the shares of Common Stock were acquired, Optionee shall notify the Company of such disposition within ten days of its occurrence and deliver to the Company any amount of federal or state income tax withholding required by law. Payment of the withholding shall be made in accordance with Section 10 of the Plan. If the Optionee fails to pay the withholding tax, the Company is authorized to withhold from any cash remuneration then or thereafter payable to the Optionee any tax required to be withheld by reason of any disposition named herein.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Grill Concepts Inc)

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