Common use of Taxation upon Exercise of Option Clause in Contracts

Taxation upon Exercise of Option. Optionee understands that, upon exercising the Option, he may recognize income for tax purposes, both federal and state, in an amount equal to the excess of the then fair market value of the Option Shares over the Exercise Price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amended. If Optionee is an 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 equal to a percentage of this compensation income. The Optionee shall satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s compensation or by payment to the Company.

Taxation upon Exercise of Option. Optionee understands that, upon exercising the a Nonstatutory Option, he may or she will recognize income for tax purposes, both federal and state, purposes in an amount equal to the excess of the then fair market value Fair Market Value of the Option Shares over the Exercise Priceexercise price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amendedamended (the "Exchange Act"). If the Optionee is an employeeEmployee, the Company will be required to withhold from Optionee’s 's compensation, or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. The Additionally, the Optionee shall may at some point be required to satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s compensation or by payment obligations with respect to the Company.disqualifying disposition of an Incentive Stock Option. The

Taxation upon Exercise of Option. Optionee understands that, upon exercising the a nonstatutory Option, he may or she will recognize income for tax purposes, both federal and state, purposes in an amount equal to the excess of the then fair market value of the Option Shares over the Exercise Priceexercise price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amendedamended (the "Exchange Act"). If the Optionee is an employee, the Company will be required to withhold from Optionee’s 's compensation, or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. The Optionee shall satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s compensation or by payment to the Company.

Taxation upon Exercise of Option. Optionee understands that, upon exercising the Option, he may recognize income for tax purposes, both federal and state, in an amount equal to the excess of the then fair market value of the Option Shares over the Exercise Price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amended. If Optionee is an employee, the Company will be required to withhold from Optionee’s 's compensation, or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. The Optionee shall satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s 's compensation or by payment to the Company.

Taxation upon Exercise of Option. Optionee understands that, upon exercising the a nonstatutory Option, he may or she will recognize income for tax purposes, both federal and state, purposes in an amount equal to the excess of the then fair market value of the Option Shares over the Exercise Priceexercise price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amendedamended (the "Exchange Act"). If the Optionee is an employee, the Company will be required to withhold from Optionee’s 's compensation, or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. The Optionee shall satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s compensation or by payment to the Company.this

Taxation upon Exercise of Option. Optionee understands that, upon exercising the a Nonstatutory Option, he may or she will recognize income for tax purposes, both federal and state, purposes in an amount equal to the excess of the then fair market value of the Option Shares over the Exercise Priceexercise price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amendedamended (the "Exchange Act"). If the Optionee is an employee, the Company will be required to withhold from Optionee’s 's compensation, or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. The Additionally, the Optionee shall may at some point be required to satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s compensation or by payment obligations with respect to the Company.disqualifying disposition of an Incentive Stock

Taxation upon Exercise of Option. Optionee understands that, upon exercising the a nonstatutory Option, he may or she will recognize income for tax purposes, both federal and state, purposes in an amount equal to the excess of the then fair market value of the Option Shares over the Exercise Priceexercise price. However, the timing of this income recognition may be deferred for up to six months if Optionee is subject to Section 16 of the Securities Exchange Act of 1934, as amendedamended (the "Exchange Act"). If the Optionee is an employee, the Company will be required to withhold from Optionee’s 's compensation, or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income. The Optionee shall satisfy his tax withholding obligation arising upon the exercise of this Option out of Optionee’s compensation or by payment to the Company.from