Limitation on Exercisability; Disposition of Option Shares Sample Clauses

Limitation on Exercisability; Disposition of Option Shares. If and to the extent the Option remains unexercised more than one year after Optionee’s termination of employment by reason of death or Disability, or more than 3 months after Optionee’s termination for any reason other than death or Disability, the Option shall be deemed to be a non-statutory stock option. In addition, if a disposition (as defined in Section 424(c) of the Code) of shares of Common Stock acquired under the exercise of the Option occurs before the expiration of 2 years after the Date of grant, or the expiration of one year after Optionee’s exercise and acquisition of shares acquired under this Option (a “disqualifying disposition”), the Option will, to the extent of the disqualifying disposition, be treated in a manner similar to a non-statutory stock option.

Limitation on Exercisability; Disposition of Option Shares. Any incentive stock option that remains unexercised more than one year following termination of employment by reason of death or disability or more than three months following termination for any reason other than death or Disability will thereafter be deemed to be a non-statutory stock option. In addition, in the event that a disposition (as defined in Section 424(c) of the Code) of shares of Common Stock acquired pursuant to the exercise of an incentive stock option occurs prior to the expiration of two years after its date of grant or the expiration of one year after its date of exercise (a “disqualifying disposition”), such incentive stock option will, to the extent of such disqualifying disposition, be treated in a manner similar to a non-statutory stock option. The Optionee shall notify the Company in writing with thirty (30) days after a disqualifying disposition of the date and terms of such disposition and such other information concerning the disposition as the Company reasonably determines it is required to have for tax purposes.