Early Disposition of Stock. By accepting this Agreement and the Option, Optionee acknowledges and confirms that, if Optionee disposes of any Shares received under the Option within two years after the Date of Grant or within one year after such Shares were transferred to Optionee, Optionee may be treated for federal and state income tax purposes as having received ordinary income at the time of such disposition as determined in accordance with the Code and applicable state law. Optionee hereby agrees to notify the Company in writing within thirty days after the date of any such disposition. Optionee authorizes the Company to withhold tax from Optionee’s current compensation with respect to any income recognized as a result of any such disposition. PureSafe Water Systems, Inc. By: /s/ Xxxxxx X. Xxxxxxx Xxxxxx X. Xxxxxxx, President OPTIONEE ACKNOWLEDGEMENT OPTIONEE ACKNOWLEDGES AND AGREES THAT THE EXERCISABILITY OF THE SHARES SUBJECT TO THIS AGREEMENT AND THE OPTION IS EARNED ONLY BY CONTINUING EMPLOYMENT OR CONSULTANCY AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND CONFIRMS THAT NOTHING IN THIS AGREEMENT, NOR IN THE PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE’S OR THE COMPANY’S RIGHT, SUBJECT TO OPTIONEE’S AND THE COMPANY’S RIGHTS UNDER OTHER AGREEMENTS, IF ANY, WITH THE COMPANY, TO TERMINATE EMPLOYMENT OR CONSULTANCY AT ANY TIME, WITH OR WITHOUT CAUSE. Optionee acknowledges receipt of a copy of the Plan and certain information related to this Plan and Company and represents that Optionee is familiar with the terms and provisions of the Plan, and hereby accepts the Option subject to all of the terms and provisions of the Plan. Optionee has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all of the terms and provisions of the Option and this Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions rising under the Plan. Optionee further agrees to notify the Company upon any change in the residence address indicated below. Accepted and agreed as of the Date of Grant as first set forth above: /s/ Xxxxx Xxxxxxxx Name: ...
Early Disposition of Stock. The Optionee hereby agrees that if the Optionee disposes of any Shares received under the Option within one (1) year after such Shares were transferred to the Optionee, or within two (2) years after the date as of which the Option was granted, the Optionee will notify the Company in writing within thirty days after the date of such disposition.
Early Disposition of Stock. Subject to the fulfillment by the Participant of any conditions limiting the disposition of the Option Shares, the Participant agrees that if the Participant disposes of any Option Shares before the later of (i) the first anniversary of the date on which the Option Shares are transferred to the Participant and (ii) the second anniversary of the Effective Date, then the Participant will notify the Company in writing within 30 days after the date of such disposition.
Early Disposition of Stock. Optionee understands that if Optionee -------------------------- disposes of any Shares received under this Option within two (2) years after the date of grant, or within one (1) year after such Shares were transferred to him, Optionee will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount generally measured by the difference between the price paid for the Shares and the lower of the fair market value of the Shares at the date of the exercise or the fair market value of the Shares at the date of disposition. The amount of such ordinary income may be measured differently if Optionee is an officer, director or 10% shareholder of the Company, or if the Shares were subject to a substantial risk of forfeiture at the time they were transferred to Optionee. Optionee agrees to notify the Company in writing within 30 days after the date of any such disposition. Optionee understands that if Optionee disposes of such Shares at any time after the expiration of such two-year and one-year holding periods, any gain on such sale will be taxed as long-term capital gain.
Early Disposition of Stock. Optionee understands that if he disposes of any shares received under this Option within two (2) years after the date of this Agreement or within one (1) year after such shares were transferred to him, he will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount generally measured by the difference between the exercise price and the lower of the fair market value of the shares at the date of the exercise or the fair market value of the shares at the date of disposition. OPTIONEE AGREES TO NOTIFY THE COMPANY IN WRITING WITHIN 5 DAYS AFTER THE DATE OF ANY SUCH DISPOSITION. Optionee understands that if he disposes of such shares at any time after the expiration of such two-year and one-year holding periods, any gain on such sale will be taxed as long-term capital gain.
Early Disposition of Stock. Option Holder agrees that if he or she disposes of any Option Shares received under this Option within two (2) years after the Date of Grant or within one (1) year after such Option Shares were transferred to Option Holder, then Option Holder will notify the Committee of such disposition within thirty (30) days after the date of any such disposition.
Early Disposition of Stock. Optionee understands that if he disposes of any Shares received under this Option within two (2) years after the date of this Agreement or within one (1) year after such Shares were transferred to him, he may be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount generally measured by the difference between the price paid for the Shares and the lower of the fair market value of the Shares at the date of the exercise or the fair market value of the Shares at the date of disposition. The amount of such ordinary income may be measured differently if Optionee is an officer, director or 10% shareholder of the Company, or if the Shares were subject to a substantial risk of forfeiture at the time they were transferred to Optionee. OPTIONEE HEREBY AGREES TO NOTIFY THE COMPANY IN WRITING WITHIN 30 DAYS AFTER THE DATE OF ANY SUCH DISPOSITION.
Early Disposition of Stock. If Optionee is an employee, Optionee -------------------------- understands that, if Optionee disposes of any Shares received under this Option within two (2) years after the date of this Agreement or within one (1) year after such Shares were transferred to Optionee, Optionee will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount generally measured as the excess of (i) the lower of the fair market value of the Shares at the date of disposition or the fair market value of the Shares at the Grant Date over (ii) the price paid for the Shares. The amount of such ordinary income may be measured differently if Optionee is an officer, director or 10% control person (defined in Section 2(E) hereof) or if the Shares were subject to a substantial risk of forfeiture at the time they were transferred. Any gain recognized on such a premature sale of the Shares in excess of the amount treated as ordinary income will be characterized as capital gain. Optionee hereby agrees to notify the Company in writing ------------------------------------------------------- within thirty (30) days after the date of any such disposition. Optionee -------------------------------------------------------------- understands that if Optionee disposes of such Shares at any time after the expiration of such two-year and one-year holding periods, any gain on such sale will generally be treated as long-term capital gain.
Early Disposition of Stock. Subject to the fulfillment by Optionee of any conditions upon the disposition of shares received under the Option, Optionee hereby agrees that if he or she disposes of any shares received under the Option within one (1) year after such shares were transferred to him or her or within 2 years from the Grant Date, he or she will notify the Company in writing within thirty (30) days after the date of such disposition. Unless otherwise approved in writing by the Committee, no person subject to Section 16 of the Securities Exchange Act of 1934 may sell, assign, pledge, encumber, or otherwise transfer shares acquired upon exercise of the Option until at least six months have elapsed from (but excluding) the Grant Date.
Early Disposition of Stock. Employee understands that if Employee disposes of any shares received under this Agreement within two (2) years after the date of this Agreement or within one (1) year after such shares were transferred to Employee, Employee will be treated for federal income tax purposes (under the law in effect on the date of this Agreement) as having receiving ordinary income at the time of such disposition in an amount generally measured by the difference between the price paid for the shares and the lower of the fair market value of the shares at the date of the exercise or the fair market value of the shares at the date of disposition. Employee hereby agrees to notify the Company in writing within 30 days after the date of any such disposition, which notification shall state the number of shares sold or transferred, the date the shares were sold or transferred, and the sale price, if applicable. Employee understands that if Employee disposes of such shares at any time after the expiration of such two-year and one-year periods, (under the law in effect or the date of this Agreement), any gain on such sale will be taxed as long-term capital gain.
