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Employers must submit a notice of intent to participate in the program by February 28, 2007.(Check to see whether the initiative has been extended).

When an incentive stock option ("ISO") is issued under IRC Sec.

Stock option backdating has erupted into a major corporate scandal, involving potentially hundreds of publicly-held companies, and may even ensnare Apple's icon, Steve Jobs.

While the focus of the Securities and Exchange Commission ("SEC") centers on improper accounting practices and disclosures, thereby violating securities laws, a major yet little explored consequence to the scandal involves potentially onerous taxes on those who received these options.

The salary paid cannot exceed $1,000,000, excluding performance-based compensation, such as stock options, provided the exercise price equals or exceeds the fair market value as of the date of grant. 162(m) has been violated since Mike received stock options at an exercise price of $20/share when Acme's stock was worth $30/share.