Common use of Qualification under Section 422 Clause in Contracts

Qualification under Section 422. It is understood and intended that the Option granted hereunder shall qualify as an “incentive stock option” as defined in Section 422 of the Code. Accordingly, the Employee understands that in order for the Employee to obtain the benefits of an incentive stock option under Section 421 of the Code, no sale or other disposition may be made of any Shares acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Employee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Shares within said periods, he or she will notify the Company within thirty (30) days after such disposition.

Qualification under Section 422. It is understood and intended that the Option option granted hereunder shall qualify as an “"incentive stock option” " as defined in Section 422 of the Code. Accordingly, the Employee understands that in order for the Employee to obtain the benefits of an incentive stock option under Section 421 of the Code, no sale or other disposition may be made of any Shares shares acquired upon exercise of the Option option within the one-one (1) year period beginning on the day after the day of the transfer of such Shares shares to him or her, nor within the two-two (2) year period beginning on the day after the grant of the Optionoption. If the Employee intends to dispose or does dispose (whether by sale, exchange, gift, transfer or otherwise) of any such Shares shares within said periods, he or she will notify the Company within thirty (30) days after such disposition.

Qualification under Section 422. It is understood and intended that the Option option granted hereunder shall qualify as an “incentive stock option” as defined in Section 422 of the Code. Accordingly, the Employee understands that in order for the Employee to obtain the benefits of an incentive stock option under Section 421 of the Code, no sale or other disposition may be made of any Shares shares acquired upon exercise of the Option option within the one-year period beginning on the day after the day of the transfer of such Shares shares to him or her, nor within the two-year period beginning on the day after the grant of the Optionoption. If the Employee intends to dispose or does dispose (whether by sale, exchange, gift, transfer or otherwise) of any such Shares shares within said periods, he or she will notify the Company within thirty (30) 30 days after such disposition.

Qualification under Section 422. It is understood and intended that the Option granted hereunder shall qualify as an “incentive stock option” as defined in Section 422 of the Code. Accordingly, the Employee understands that in order for the Employee to obtain the benefits of an incentive stock option under Section 421 of the Code, no sale or other disposition may be made of any Shares acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Employee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Shares within said periods, he or she will hereby agrees to notify the Company within thirty (30) days after such disposition.

Qualification under Section 422. It is understood and intended that the Option granted hereunder shall qualify as an “"incentive stock option” " as defined in Section 422 of the Code. Accordingly, the Employee understands that in order for the Employee to obtain the benefits of an incentive stock option under Section 421 of the Code, no sale or other disposition may be made of any Shares acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Employee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Shares within said periods, he or she will notify the Company within thirty (30) days after such disposition.