Nonstatutory Stock Option. An Option that does not meet the requirements of Section 422 of the Code, or that is otherwise not intended to be an Incentive Stock Option.
Exercise of Nonstatutory Stock Option. There may be a regular federal income tax liability and a state income tax liability upon the exercise of this Option. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the fair market value of the Shares on the date of exercise over the Exercise Price and the Company will qualify for a deduction in the same amount. 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 at the time of exercise.
(p) Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.
Type of Option. Each Option shall be designated in the Option Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option.
“Nonstatutory Option” or “NSO” shall mean an employee stock option that is not an ISO.
Under the Restricted Stock Unit Award Agreements and Nonstatutory Stock Option Award Agreements between Lammersfeld and the Bank, Lammersfeld is currently not entitled to any restricted stock units or stock options shares which have not vested. In consideration of Lammersfeld's years of service with the Bank and the undertakings in this Agreement, the Bank agrees to accelerate the vesting of Lammersfeld's Restricted Stock Unit Award Agreements and Nonstatutory Stock Option Award Agreements such that Lammersfeld on March 15, 2016 will become vested in all restricted stock units and Nonstatutory stock options which have been previously awarded and have not vested as of the Separation Date, provided that the Bank has received a properly executed Agreement by Lammersfeld and the revocation period during which he is entitled to revoke such Agreement has expired on or prior to the 60th day following his separation from service. The issuance and delivery of shares under the Restricted Stock Unit Award Agreement and the method and expiration of exercising options under the Nonstatutory Stock Option Award Agreement shall follow the original terms and provisions of the respective award agreements.
Incentive Stock Option Limit. Each Option shall be designated in the Option Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Optionee during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds $100,000, such Options shall be treated as Nonstatutory Stock Options. For purposes of this Section 6(a): # Incentive Stock Options shall be taken into account in the order in which they were granted and # the Fair Market Value of the Shares shall be determined as of the time the Option with respect to such Shares is granted.
“Option” means the right to purchase Stock at a stated price for a specified period of time (subject to Section 7(c)). For purposes of the Plan, an Option may be either # an “Incentive Stock Option,” or “ISO,” within the meaning of Section 422 of the Code, # a “Nonstatutory (Nonqualified) Stock Option,” or “NSO,” or # any other type of option encompassed by the Code.
Comera Life Sciences Holdings, Inc. (the “Company”), hereby grants to (the “Holder”) an option (the “Option”) to purchase a total of shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at the price and on the terms set forth in this Comera Life Sciences Holdings, Inc. Nonstatutory Stock Option Award Agreement (the “Award Agreement”).
Option Grant. Whenever the Committee deems it appropriate to grant Options, an Award Agreement shall be given to the Participant stating the number of shares for which Options are granted, the exercise price per share, whether the options are Incentive Stock Options or Nonstatutory Stock Options, and the conditions to which the grant and exercise of the Options are subject. The Award Agreement shall set forth all restrictions on disposition and transfer applicable to the Option shares. Incentive Stock Options may be granted to employees of the Company or an Affiliate. Non-employee directors and Consultants shall not be eligible to receive Incentive Stock Options. No Option (or portion thereof) that is intended to be an Incentive Stock Option shall be invalid for failure to so qualify, but instead such Option (or portion thereof) shall constitute a Nonstatutory Stock Option.
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