Common use of Qualification as an Incentive Stock Option Clause in Contracts

Qualification as an Incentive Stock Option. Optionee understands that the Option is intended to qualify as an "incentive stock option" within the meaning of Section 422 of the Code. Optionee understands, further, that: (a) under the Code, if an optionee is unable to continue his or her employment with the Company as a result of a total and permanent disability (as defined in Section 22(e)(3) of the Code), and if the other requirements for incentive stock option treatment contained in Section 422 of the Code are satisfied, Optionee will be entitled to exercise the Option within 12 months of such termination without defeating incentive stock option treatment; but

Qualification as an Incentive Stock Option. Optionee understands that the Option option is intended to qualify as an "incentive stock option" within the meaning of Section 422 of the Code. Optionee understands, further, that: (a) under the CodeCode , if an optionee is unable to continue his or her employment with the Company as a result of a total and permanent disability (as defined in Section 22(e)(3) of the Code), and if the other requirements for incentive stock option treatment contained in Section 422 of the Code are satisfied, Optionee will be entitled to exercise the Option within 12 twelve (12) months of such termination without defeating incentive stock option treatment; but