Common use of Certain Dispositions Clause in Contracts

Certain Dispositions. If Optionee disposes of any of the shares of Common Stock acquired upon exercise of the Option within two (2) years from the date the Option was granted or within one (1) year after the date of exercise of the Option and the Option was an incentive stock option at the time of exercise, then, in order to provide the Company with the opportunity to claim the benefit of any income tax deduction, Optionee is required to promptly notify the Company of the dates of acquisition and disposition of such shares, the number of shares so disposed of, and the consideration, if any, received for such shares. In order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure (i) notice to the Company of any disposition of the shares of Common Stock acquired upon exercise of the Option within the time periods described above, and (ii) that, if necessary, all applicable federal or state payroll, withholding, income or other taxes are withheld or collected from Optionee.