qualified prize option
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 451 — for purposes of this title
The term “qualified prize option” means an option which—
(i) entitles an individual to receive a single cash payment in lieu of receiving a qualified prize (or remaining portion thereof), and
(ii) is exercisable not later than 60 days after such individual becomes entitled to the qualified prize.