Common use of Type of Option; Tax Consequences Clause in Contracts

Type of Option; Tax Consequences. Unless otherwise provided for in -------------------------------- the Notice, Options granted in accordance with the Plan shall be Non-Qualified Stock Options ("NSO"). If the Notice provides that Options granted to Optionee are Incentive Stock Options ("ISO"), such Options are intended to qualify as Incentive Stock Options under Section 422 of the Code. Set forth below is a brief summary as of the date of this Agreement of some of the federal tax consequences of exercise of this Option and disposition of the Option Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE OPTION SHARES. (a) Exercise of NSO. There may be a regular federal income tax liability, at ordinary income tax rates, upon the exercise of an NSO. If Optionee is an Employee or a former Employee, the Company will be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

Type of Option; Tax Consequences. Unless otherwise provided -------------------------------- for in -------------------------------- the Notice, Options granted in accordance with the Plan shall be Non-Qualified Stock Options ("NSO"). If the Notice provides that Options granted to Optionee are Incentive Stock Options ("ISO"), such Options are intended to qualify as Incentive Stock Options under Section 422 of the Code. Set forth below is a brief summary as of the date of this Agreement of some of the federal tax consequences of exercise of this Option and disposition of the Option Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE OPTION SHARES. (a) Exercise of NSO. There may be a regular federal income tax liability, at ordinary income tax rates, upon the exercise of an NSO. If Optionee is an Employee or a former Employee, the Company will be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

Type of Option; Tax Consequences. Unless otherwise provided for in the -------------------------------- the Notice, Options granted in accordance with the Plan shall be Non-Qualified Stock Options ("NSO"). If the Notice provides that Options granted to Optionee are Incentive Stock Options ("ISO"), such Options are intended to qualify as Incentive Stock Options under Section 422 of the Code. Set forth below is a brief summary as of the date of this Agreement of some of the federal tax consequences of exercise of this Option and disposition of the Option Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE OPTION SHARES. (a) Exercise of NSO. There may be a regular federal income tax liability, at ordinary income tax rates, upon the exercise of an NSO. If Optionee is an Employee or a former Employee, the Company will be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

Type of Option; Tax Consequences. Unless otherwise -------------------------------- provided for in -------------------------------- the Notice, Options granted in accordance with the Plan shall be Non-Qualified Stock Options ("NSO"). If the Notice provides that Options granted to Optionee are Incentive Stock Options ("ISO"), such Options are intended to qualify as Incentive Stock Options under Section 422 of the Code. Set forth below is a brief summary as of the date of this Agreement of some of the federal tax consequences of exercise of this Option and disposition of the Option Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE OPTION SHARES. (a) Exercise of NSO. There may be a regular federal income tax liability, at ordinary income tax rates, upon the exercise of an NSO. If Optionee is an Employee or a former Employee, the Company will be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.