Additional Restrictions and Limitations on the Option; General. The Option granted pursuant to this Agreement shall, in order to qualify under the Code as an Incentive Stock Option, comply with all of the restrictions and limitations set forth in the Code and Article VI of the Plan, as the same may from time to time be amended, and this Article V. If the Option does not fulfill all of the provisions of this Article V, then the Option shall not be an Incentive Stock Option but rather shall be a Nonstatutory Stock Option.
Appears in 3 contracts
Samples: Floridian Financial (Floridian Financial Group Inc), Reunion Bank of Florida (National Commerce Corp), Officers’ and Employees’ Stock Option Agreement (National Commerce Corp)
Additional Restrictions and Limitations on the Option; General. The Option granted pursuant to this Agreement shall, in order to qualify under the Code as an Incentive Stock Option, comply with all of the restrictions and limitations set forth in the Code and Article VI of the PlanCode, as the same may from time to time be amended, and this Article V. . If the Option does not fulfill all of the provisions of this Article Vthe Code, then the Option shall not be an Incentive Stock Option but rather shall be a Nonstatutory Stock Option.
Appears in 2 contracts
Samples: Employee Stock Option Agreement (Suncoast Bancorp Inc), Employee Stock Option Agreement (National Commerce Corp)
