Keith D. Hilen - Page 2

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          gross income from the exercise of nonstatutory stock options in             
               At the time of the filing of the petition in this case,                
          petitioner resided in Santa Rosa, California.                               
               In May 1995, petitioner commenced work for Strategic                   
          Concepts Corp.  Strategic Concepts Corp. later changed its name             
          to InsWeb Corp. (InsWeb).                                                   
               As part of his compensation package, petitioner received               
          grants of options to purchase InsWeb common stock.  Each grant              
          gave petitioner the right to purchase a specified number of                 
          InsWeb shares for a specified price per share at a future date.             
          To exercise his stock options, petitioner was required to notify            
          InsWeb in writing and make arrangements to pay InsWeb an amount             
          sufficient to cover the exercise price and any Federal, State,              
          and local taxes InsWeb was required to withhold from wages.                 
               On November 15, 1998, petitioner’s employment with InsWeb              
          was terminated.  However, petitioner entered into a consulting              
          relationship with InsWeb and was employed as a consultant under             
          his separation agreement from November 15, 1998, to September 30,           
          1999.  Because petitioner’s employment was terminated, under the            
          terms of his option agreements the last day that he was able to             
          exercise his stock options was December 31, 1999.                           

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