Common use of Option Plan Clause in Contracts

Option Plan. This Option is granted as a non-qualified stock option under the Plan, and is not intended to qualify as an incentive stock option, as that term is used in Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"). This means that, at the time Director exercises all or any portion of this Option, Director will have taxable income equal to any positive difference between the market value of the Common Stock at the date of the exercise and the option exercise price paid for the Common Stock under this Option as shown in Section 1 of this Agreement. This Option is subject to the terms and conditions set forth in the Plan. In the event any of the provisions in this Agreement conflict with or are inconsistent with the provisions of the Plan, the provisions of the Plan shall be controlling.

Option Plan. This Option is granted as a non-qualified stock option under the Plan, and is not intended to qualify as an incentive stock option, as that term is used in Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"). This means that, at the time Director Colleague exercises all or any portion of this Option, Director Colleague will have taxable income equal to any positive difference between the market value of the Common Stock at the date of the exercise and the option exercise price paid for the Common Stock under this Option as shown in Section 1 of this Agreement. This Option is subject to the terms and conditions set forth in the Plan. In the event any of the provisions in this Agreement conflict with or are inconsistent with the provisions of the Plan, the provisions of the Plan shall be controlling.

Option Plan. This Option is granted as a non-qualified stock option under the Plan, and is not intended to qualify as an incentive stock option, as that term is used in Section 422 of the Internal Revenue Code of 1986, as amended (the "“Code"”). This means that, at the time Director Colleague exercises all or any portion of this Option, Director Colleague will have taxable income equal to any positive difference between the market value of the Common Stock at the date of the exercise and the option exercise price paid for the Common Stock under this Option as shown in Section 1 of this Agreement. This Option is subject to the terms and conditions set forth in the Plan. In the event any of the provisions in this Agreement conflict with or are inconsistent with the provisions of the Plan, the provisions of the Plan shall be controlling.

Option Plan. This Option is granted as a non-qualified stock option under the Plan, and is not intended to qualify as an incentive stock option, as that term is used in Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"). This means that, at the time Director Colleague exercises all or any portion of this Option, Director Colleague will have taxable income equal to any positive difference between the market value of the Common Stock at the date of the exercise and the option exercise price paid for the Common Stock under this Option as shown in Section 1 of this Agreementagreement. This Option is subject to the terms and conditions set forth in the Plan. In the event any of the provisions in this Agreement conflict with or are inconsistent with the provisions of the Plan, the provisions of the Plan shall be controlling.