Common use of Notification of Disqualifying Disposition Clause in Contracts

Notification of Disqualifying Disposition. Your Option is intended to qualify as an incentive stock option and by exercising this Option you agree that you will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the Shares issued upon exercise of this Option that occurs within two (2) years after the Date of Grant of this Option or within one (1) year after such Shares are transferred upon exercise of this Option. You also agree to provide the Company with any information concerning any such transfer required by the Company for tax purposes. The Company may require you to reimburse the Company in an amount necessary to satisfy the Company’s obligation to withhold taxes incurred by reason of the disposition of the Shares acquired by exercise of the Option in a disqualifying disposition (within the meaning of Section 421(b) of the Code).