Section 83(b) Election Clause Example from Business Contracts

Section 83(b) Election. The Grantee may make an election pursuant to Section 83(b) of the Code with respect to the Restricted Stock. Any such election must be made within 30 days after the Grant Date. If the Grantee elects to make a Section 83(b) Election, the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the Internal Revenue Service. The Grantee agrees to assume sole responsibility for ensuring that the Section 8...3(b) Election is actually and timely filed with the Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election. View More