Common use of NOTICE OF SALES UPON DISQUALIFYING DISPOSITION Clause in Contracts

NOTICE OF SALES UPON DISQUALIFYING DISPOSITION. The Employee shall dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Agreement. In addition, the Employee shall promptly notify the Chief Financial Officer of the Company if the Employee disposes of any of the shares acquired pursuant to the Option within one (1) year from the date the Employee exercises all or part of the Option or within two (2) years of the Date of Grant of this Option. Until such time as the Employee disposes of such shares in a manner consistent with the provisions of this Agreement, the Employee shall hold all shares acquired pursuant to the Option in the Employee's name (and not in the name of any nominee) for the one (1) year period immediately after exercise of the Option and the two (2) year period immediately after the Date of Grant of this Option. At any time during the one (1) year or two (2) year periods set forth above, the Company may place a legend or legends on any certificate or certificates representing shares accurate pursuant to the Option requesting the transfer agent for the Company's stock to notify the Company of any such transfers. The obligation of the Employee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate or certificates pursuant to the preceding sentence.

Appears in 3 contracts

Samples: Employment Agreement (Smartdisk Corp), Employment Agreement (Smartdisk Corp), Employment Agreement (Smartdisk Corp)

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NOTICE OF SALES UPON DISQUALIFYING DISPOSITION. The Employee Optionee shall dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Agreement. In addition, if the Employee Option is designated as an ISO in the Grant Agreement, the Optionee shall promptly notify the Chief Financial Officer of the Company if the Employee Optionee disposes of any of the shares acquired pursuant to the Option within one (1) year from after the date of the Employee Optionee exercises all or part of the Option or within two (2) years of after the Date of Grant of this OptionGrant. Until such time as the Employee Optionee disposes of such shares in a manner consistent with the provisions of this Agreement, unless otherwise expressly authorized by the Employee Company, the Optionee shall hold all shares acquired pursuant to the Option in the Employee's Optionee’s name (and not in the name of any nominee) for the one (1) one-year period immediately after the exercise of the Option and the two (2) two-year period immediately after the Date of Grant of this OptionGrant. At any time during the one (1) one-year or two (2) two-year periods set forth above, the Company may place a legend or legends on any certificate or certificates representing shares accurate acquired pursuant to the Option requesting the transfer agent for the Company's ’s stock to notify the Company of any such transfers. The obligation of the Employee Optionee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate or certificates pursuant to the preceding sentence.

Appears in 1 contract

Samples: Stock Option Grant Agreement (Interwoven Inc)

NOTICE OF SALES UPON DISQUALIFYING DISPOSITION. The Employee Optionee shall dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Option Agreement. In addition, the Employee Optionee shall promptly notify the Chief Financial Officer of the Company if the Employee Optionee disposes of any of the shares acquired pursuant to the Option within one (1) year from after the date the Employee Optionee exercises all or part of the Option or within two (2) years of after the Date of Option Grant and shall provide the Company with a description of this Optionthe terms and circumstances of such disposition. Until such time as the Employee Optionee disposes of such shares in a manner consistent with the provisions of this Option Agreement, unless otherwise expressly authorized by the Employee Company, the Optionee shall hold all shares acquired pursuant to the Option in the Employee's Optionee’s name (and not in the name of any nominee) for the one (1) one-year period immediately after the exercise of the Option and the two (2) two-year period immediately after the Date of Grant of this OptionOption Grant. At any time during the one (1) one-year or two (2) two-year periods set forth above, the Company may place a legend or legends on any certificate or certificates representing shares accurate acquired pursuant to the Option requesting the transfer agent for the Company's ’s stock to notify the Company of any such transfers. The obligation of the Employee Optionee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate or certificates pursuant to the preceding sentence.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Invitrogen Corp)

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NOTICE OF SALES UPON DISQUALIFYING DISPOSITION. The Employee You shall dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Award Agreement. In addition, if the Employee Grant Notice designates the Option as an Incentive Stock Option, you shall (a) promptly notify the Chief Financial Officer of the Company if the Employee disposes you dispose of any of the shares acquired pursuant to the Option within one (1) year from after the date the Employee exercises you exercise all or part of the Option or within two (2) years of after the Date of Grant and (b) provide the Company with a description of this Optionthe circumstances of such disposition. Until such time as the Employee disposes you dispose of such shares in a manner consistent with the provisions of this Award Agreement, unless otherwise expressly authorized by the Employee Company, you shall hold all shares acquired pursuant to the Option in the Employee's your name (and not in the name of any nominee) for the one (1) one-year period immediately after the exercise of the Option and the two (2) two-year period immediately after the Date of Grant of this OptionGrant. At any time during the one (1) one-year or two (2) two-year periods set forth above, the Company may place a legend or legends on any certificate or certificates representing shares accurate acquired pursuant to the Option requesting the transfer agent for the Company's stock ’s Stock to notify the Company of any such transfers. The Your obligation of the Employee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate or certificates pursuant to the preceding sentence.

Appears in 1 contract

Samples: Employee Stock Option Agreement (Halozyme Therapeutics, Inc.)

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