I just had to go double check this, because my statement above is based on actual experience. > The $100,000 limit is calculated using the fair market value of

I just had to go double check this, because my statement above is based on actual experience. > The $100,000 limit is calculated using the fair market value of the stock for which the options are exercisable, as of the grant date... IOW — value at time of grant, not time of vest.