Common use of Short-Term Deferrals Clause in Contracts

Short-Term Deferrals. The Option is intended to qualify under Treasury Regulation Section 1.409A-1(b)(5)(i) as a "non-statutory stock option not providing for the deferral of compensation." This Award Agreement shall be interpreted consistently with that intent. For purposes of Code Section 409A, all payments under or with respect to the Option are hereby designated as separate payments from any other payments or benefits to which the Participant is entitled (whether under the Plan, any other agreement, or any non-qualified deferred compensation or arrangement to which the Participant is a party or in which the Participant is a participant). In no event shall the Participant have any right to defer the receipt of Shares upon exercise of the Option or any right to a deferred payment in exchange for the Option.

Short-Term Deferrals. The Option is intended to qualify under Treasury Regulation Section 1.409A-1(b)(5)(i) as a an "non-statutory incentive stock option not providing for the deferral of compensation." option". This Award Agreement shall be interpreted consistently with that intent. For To the extent a portion of this Option is deemed to be a nonstatutory option under the Code, for purposes of Code Section 409A, all payments under or with respect to the Option are hereby designated as separate payments from any other payments or benefits to which the Participant is entitled (whether under the Plan, any other agreement, or any non-qualified deferred compensation or arrangement to which the Participant is a party or in which the Participant is a participant). In no event shall the Participant have any right to defer the receipt of Shares upon exercise of the Option or any right to a deferred payment in exchange for the Option.