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 to the maximum extent permitted by law. Accordingly, the Employee understands that the loss of the benefits of an incentive stock option under Section 422 of the Code may result from a sale or other disposition of any shares of Stock acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such shares of Stock to him, 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 of Stock within said periods, he will notify the Company within thirty (30) days after such disposition. In addition, no more than $100,000 of the aggregate fair market value (as defined in the Plan) of Stock Options (as defined in Section 1 of the Plan) 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 qualify as an "incentive stock option" as defined in Section 422 of the Code to the maximum extent permitted by law. Accordingly, the Employee understands that the loss of the benefits of an incentive stock option under Section 422 of the Code may result from a sale or other disposition of any shares of Stock acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such shares of Stock to him, 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 of Stock within said periods, he will notify the Company within thirty (30) days after such disposition. In , in addition, no more than $100,000 of the aggregate fair market value (as defined in the Plan) of Stock Options (as defined in Section 1 of the Plan) granted under the Plan or any other stock option plan of the Company or any Subsidiary 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 qualify as an "“incentive stock option" ” as defined in Section 422 of the Code to the maximum extent permitted by law. Accordingly, the Employee Optionee understands that the loss of the benefits of an incentive stock option under Section 422 of the Code may result from a sale or other disposition of any shares of Stock acquired upon exercise of the Option within the one-one-(1) year period beginning on the day after the day of the transfer of such shares of Stock to himthe Optionee, nor or within the two-two-(2) year period beginning on the day after the grant of the Option. If the Employee Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any such shares of Stock within said periods, he the Optionee will notify the Company within thirty (30) days after such disposition. In addition, no more than One Hundred Thousand Dollars ($100,000 100,000) of the aggregate fair market value (as defined in the Plan) of Stock Options (as defined in Section 1 of the Plan) 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 option granted hereunder shall qualify as an "incentive stock option" as defined in Section 422 of the Code to the maximum extent permitted by law. Accordingly, the Employee understands that the loss of the benefits of an incentive stock option under Section 422 of the Code may result from a sale or other disposition of any shares of Stock acquired upon exercise of the Option within the one-year period beginning on the day after the day of the transfer of such shares of Stock to him, 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 of Stock within said periods, he will notify the Company within thirty (30) days after such disposition. In addition, no more than $100,000 of the aggregate fair market value (as defined in the Plan) of Stock Options (as defined in Section 1 of the Plan) 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.