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 Optionee understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other disposition may be made of any Option Shares acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such Option Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Option Shares within these periods, he or she will notify the Company within thirty (30) days after such disposition. In addition, no more than $100,000 of the aggregate fair market value of Stock Options granted under the Plan may become exercisable for the first time by the Optionee during any calendar year and be treated as incentive stock options under Section 422 of the Code.

Qualification under Section 422. It is understood and intended that the Option granted hereunder shall SHALL qualify as an “"incentive stock option” " as defined in Section 422 of the Code. Accordingly, the Optionee Employee understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other disposition may be made of any Option Shares acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such Option Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Optionee Employee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Option Shares within these periods, he or she will notify the Company within thirty (30) days after such disposition. In addition, no more than $100,000 of the aggregate fair market value of Stock Share Options granted under the Plan may which become exercisable for the first time by the Optionee during any calendar year and be treated will only qualify as incentive stock options under Section 422 of the Code to the extent that the aggregate fair market value of the Option Shares underlying such Share Options as of the date of grant does not exceed $100,000. Any such Share Options relating to Option Shares in excess of $100,000 will be treated as nonqualified stock options under the Code.

Qualification under Section 422. It is understood and -and intended that the Option granted hereunder shall qualify as an “"incentive stock option” " as defined in Section 422 of the Code. Accordingly, the Optionee Employee understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other disposition may be made of any Option Shares acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such Option Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Optionee Employee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Option Shares within these periods, he or she will notify the Company within thirty (30) days after such disposition. In addition, no more than $100,000 of the aggregate fair market value of Stock Share Options granted under the Plan may which become exercisable for the first time by the Optionee during any calendar year and be treated will only qualify as incentive stock options under Section 422 of the Code to the extent that the aggregate fair market value of the Option Shares underlying such Share Options as of the date of grant does not exceed $100,000. Any such Share Options relating to Option Shares in excess of $100,000 will be treated as nonqualified stock options under the Code.

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 Optionee understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other disposition may be made of any Option Shares shares of Common Stock acquired upon exercise of the Option (the “Shares”) within the one-year period beginning on the day after the day of the transfer of such Option Shares to him or her, nor within the two-year period beginning on the day after the grant of the Option. If the Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such Option Shares within these said periods, he or she will notify the Company within thirty (30) days after such disposition. In addition, no more than $100,000 of the aggregate fair market value of Stock Options Option Shares granted under the Plan may become exercisable for the first time by the Optionee during any calendar year and be treated as incentive stock options under Section 422 of the Code.