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This excerpt taken from the TIGR 8-K filed Nov 30, 2005. Disposition of Shares. In
the case of a Nonincentive Stock Option, if Shares are held for more than one
year, any gain realized on disposition of the Shares will be treated as
long-term capital gain for federal income tax purposes. In the case of an ISO,
if Shares transferred pursuant to the Option are held for more than one year
after receipt of the Shares and are disposed more than two years after the
Grant Date, any gain realized on disposition of the Shares will be treated as
capital gain for federal income tax purposes. If Shares purchased under an ISO
are disposed of prior to the expiration of such one-year or two-year periods,
any gain realized on such disposition will be treated as compensation income
(taxable at ordinary income rates) to the extent of the difference between the
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Exercise Price and the lesser of (i) the Fair Market Value of the Shares on the date of exercise, or (ii) the sale price of the Shares.
11. This excerpt taken from the TIGR DEF 14A filed Oct 21, 2005. Disposition of Shares. In the case of a Nonincentive
Stock Option, if Shares are held for more than one year, any gain realized on
disposition of the Shares will be treated as long-term capital gain for federal
income tax purposes. In the case of an ISO, if Shares transferred pursuant to
the Option are held for more than one year after receipt of the Shares and are
disposed more than two years after the Grant Date, any gain realized on
disposition of the Shares will be treated as capital gain for federal income
tax purposes. If Shares purchased under an ISO are disposed of prior to the
expiration of such one-year or two-year periods, any gain realized on such
disposition will be treated as compensation income (taxable at ordinary income
rates) to the extent of the difference between the
C-17 Exercise Price and the lesser of (i) the Fair Market Value of the Shares on the date of exercise, or (ii) the sale price of the Shares. 11. | EXCERPTS ON THIS PAGE:
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