Section 83(b) Election Clause Example with 6 Variations from Business Contracts

This page contains Section 83(b) Election clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Shares, the Grantee may file an election with the Internal Revenue Service, within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of the Code to be taxed currently on any difference between the purchase price of the Restricted Shares and their fair market value on the date of purchase. Absent such an election, taxable income will be measured and recognized by th...e Grantee at the time or times at which the forfeiture restrictions on the Restricted Shares lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant in connection with the issuance of the Restricted Shares and the advisability of filing of the election under Section 83(b) of the Code. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, BUT RATHER IS THE GRANTEE'S SOLE RESPONSIBILITY, TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish the Company with a copy of the election. View More
Found in Aceto Cp contract

Variations of a "Section 83(b) Election" Clause from Business Contracts

Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Shares, the Grantee may file an election pursuant to Section 83(b) of the Code with the Internal Revenue Service, Service within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of the Code Agreement to be taxed currently on any difference between the purchase price of the Restricted Shares and their fair market value of the shares of Restricted Stock on the date ...of purchase. issuance. Absent such an election, taxable income will be measured and recognized by the Grantee at the time or times at which the forfeiture restrictions on the Restricted Shares Stock lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant in connection with the issuance of the Restricted Shares and the advisability of filing of the election under Section 83(b) of the Code. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, BUT RATHER IS THE GRANTEE'S SOLE RESPONSIBILITY, TO FILE TIMELY AND PROPERLY THE ELECTION UNDER SECTION 83(b) TIMELY. AND UNDER ANY CORRESPSONDING PROVISIONS OF STATE TAX LAWS IF GRANTEE ELECTS TO UTILIZE SUCH ELECTION. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish submit to the Company with a copy of the election within ten (10) days of filing such election. View More
Found in Presbia PLC contract
Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Shares, the Grantee may file an election pursuant to Section 83(b) of the Code with the Internal Revenue Service, Service within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of the Code Agreement to be taxed currently on any difference between the purchase price fair market value of the Restricted Shares and their fair market value on the date of purchase. iss...uance. Absent such an election, taxable income will be measured and recognized by the Grantee at the time or times at which the forfeiture restrictions on the Restricted Shares lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant in connection with the issuance of the Restricted Shares and the advisability of filing of the election under Section 83(b) of the Code. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, RESPONSIBILITY, BUT RATHER IS THE GRANTEE'S SOLE RESPONSIBILITY, TO FILE TIMELY AND PROPERLY THE ELECTION UNDER SECTION 83(b) TIMELY. AND UNDER ANY CORRESPONDING PROVISIONS OF STATE TAX LAWS IF GRANTEE ELECTS TO UTILIZE SUCH ELECTION. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish submit to the Company with a copy of the election within ten (10) days of filing such election. View More
Found in Presbia PLC contract
Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Shares, Stock, the Grantee may file an election with the Internal Revenue Service, within 30 days of the execution effective date of this Agreement, electing pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, (the "Code") to be taxed currently on any 3 difference between the purchase price of the Restricted Shares Stock and their the fair market value of the underlying... Shares on the date of purchase. Grant Date. Absent such an election, taxable income will be measured and recognized by the Grantee at the time or times at which the forfeiture restrictions on the Restricted Shares Stock lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant consultants in connection with the issuance of the Restricted Shares Stock and the advisability of filing of the election under Section 83(b) of the Code. A form of Election under Section 83(b) may be obtained from the Company's Director of Human Resources. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, COMPANY'S, BUT RATHER IS THE GRANTEE'S GRANTEE'S, SOLE RESPONSIBILITY, RESPONSIBILITY TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish the Company with a copy of the election. View More
Found in Meet Group, Inc. contract
Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Shares, Stock, the Grantee may file an election with the Internal Revenue Service, within 30 days of the execution effective date of this Agreement, electing pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, (the "Code") to be taxed currently on any difference between the purchase price of the Restricted Shares Stock and their the fair market value of the underlying S...hares on the date of purchase. Grant Date. Absent such an election, taxable income will be measured and recognized by the Grantee at the time or times at which the forfeiture restrictions on the Restricted Shares Stock lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant consultants in connection with the issuance of the Restricted Shares Stock and the advisability of filing of the election under Section 83(b) of the Code. A form of Election under Section 83(b) may be obtained from the Company's Director of Human Resources. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, COMPANY'S, BUT RATHER IS THE GRANTEE'S GRANTEE'S, SOLE RESPONSIBILITY, RESPONSIBILITY TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish the Company with a copy of the election. View More
Found in Meet Group, Inc. contract
Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the shares of Restricted Shares, Stock, the Grantee may file an election with the Internal Revenue Service, within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, (the "Code") to be taxed currently on any difference between the purchase price of the shares of Restricted Shares Stock and their fair market value on the date of pur...chase. Absent such an election, taxable income will be measured and recognized by the Grantee at the time or times at which the forfeiture restrictions on the shares of Restricted Shares Stock lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant consultants in connection with the issuance of the shares of Restricted Shares Stock and the advisability of filing of the election under Section 83(b) of the Code. A form of election under Section 83(b) is attached hereto as Exhibit A for reference. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, COMPANY'S, BUT RATHER IS THE GRANTEE'S SOLE RESPONSIBILITY, RESPONSIBILITY TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish the Company with a copy of the election. View More
Found in ANTARES PHARMA, INC. contract
Section 83(b) Election. The Grantee hereby acknowledges that the Grantee has been informed that, with respect to the Restricted Shares, Stock, the Grantee may file an election with the Internal Revenue Service, within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, (the "Code") to be taxed currently on any difference between the purchase price of the Restricted Shares Stock and their fair market value on the date of purchase. Absent such a...n election, taxable income will be measured and recognized by the Grantee at the time or times at which the forfeiture restrictions on the Restricted Shares Stock lapse. The Grantee is strongly encouraged to seek the advice of his or her own tax consultant consultants in connection with the issuance of the Restricted Shares Stock and the advisability of filing of the election under Section 83(b) of the Code. A form of Election under Section 83(b) is attached hereto as Exhibit A for reference. THE GRANTEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY'S RESPONSIBILTY, COMPANY'S, BUT RATHER IS THE GRANTEE'S SOLE RESPONSIBILITY, RESPONSIBILITY TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. If the Grantee files an election under Section 83(b) of the Code, the Grantee shall promptly furnish the Company with a copy of the election. View More
Found in 2 Contracts from 2 Companies