Common use of Taxation upon Exercise of Option Clause in Contracts

Taxation upon Exercise of Option. Optionee understands that pursuant to certain provisions of the Code, upon exercise of the Option, Optionee may recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares over the Option Price. The Corporation may be required to withhold tax from Optionee's current compensation with respect to such income; to the extent that Optionee's current compensation is insufficient to satisfy the withholding tax liability, the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the Option.

Taxation upon Exercise of Option. Optionee understands that pursuant to certain provisions of the Codethat, upon exercise of the this Option, Optionee may will recognize income, for Federal and state income for tax purposes purposes, in an amount equal to the excess of amount by which the then fair market value of the Option Shares over Shares, determined as of the Option date of exercise, exceeds the Exercise Price. The Corporation may be required acceptance of the Shares by Optionee shall constitute an agreement by Optionee to withhold tax from Optionee's current compensation report such income in accordance with respect then applicable law and to cooperate with Company in establishing the amount of such income; income and corresponding deduction to the extent that Optionee's current compensation is insufficient to satisfy the withholding Company for its income tax liability, the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the Optionpurposes.

Taxation upon Exercise of Option. Optionee understands that pursuant to certain provisions of the CodeInternal Revenue Code of 1986, as amended, upon exercise of the this Option, Optionee may recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares shares over the Option Priceexercise price. The Corporation may Company will be required to withhold tax from Optionee's current compensation with respect to such income; to the extent that Optionee's current compensation is insufficient to satisfy the withholding tax liability, the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the this Option.

Taxation upon Exercise of Option. Optionee understands that pursuant Optionee may be required to certain provisions of the Code, recognize income for tax purposes upon exercise of the Option, . Optionee may recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares over the Option Price. The Corporation may be required to withhold tax from Optionee's current compensation with respect to such income; to the extent acknowledges and agrees that Optionee's current compensation is insufficient to satisfy the withholding tax liability, the Company may require withhold shares of Optioned Stock the Optionee is otherwise entitled to make a cash payment to cover such liability as a condition of receive on exercise of this Option to satisfy tax withholding obligations as provided in Section 5.4 of the OptionPlan.

Taxation upon Exercise of Option. Optionee understands that pursuant to certain provisions of the Codethat, upon exercise of the this Option, Optionee may will recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares Stock over the Option Priceexercise price. The Corporation may Company will be required to withhold tax from Optionee's current compensation with respect to such income; to the extent that Optionee's current compensation is insufficient to satisfy the withholding tax liability, Optionee shall be required to remit the amount of such liability to the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the this Option.

Taxation upon Exercise of Option. Optionee understands that pursuant to certain provisions of the Code, upon exercise of the Option, Optionee may recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares over at the Option Pricetime of exercise minus the price paid for such shares. The Corporation may be required to withhold tax from Optionee's current compensation with respect to such income; to the extent that Optionee's current compensation is insufficient to satisfy the withholding tax liability, the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the Option.

Taxation upon Exercise of Option. Optionee understands that that, pursuant to certain provisions of the Code, upon exercise of the this Option, an Optionee may who is subject to the Code must recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares shares over the Option Priceexercise price. The Corporation may be required to If this is the case, the Company will withhold tax from Optionee's current compensation with respect to such income; to the extent that Optionee's current compensation is insufficient to satisfy the withholding tax liability, the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the this Option.

Taxation upon Exercise of Option. Optionee understands that pursuant to certain provisions of the Codethat, upon exercise of the this Option, Optionee may he will recognize income for tax purposes in an amount equal to the excess of the then fair market value of the Option Shares shares over the Option Priceexercise price. The Corporation may Company will be required to withhold tax from Optionee's current compensation with respect to such income; to the extent that Optionee's current compensation is insufficient to satisfy the withholding tax liability, the Company may require the Optionee to make a cash payment to cover such liability as a condition of exercise of the this Option.