Tax Consequences Clause Example with 4 Variations from Business Contracts

Tax Consequences. Participant has reviewed with Participant's own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company Corporation or any of its agents. Participant understands that Participant (and not the Company) Corporation) shall be responsible for Participant's own any tax liability that may arise as a result of the ...transactions contemplated by this Agreement. Participant understands that Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"), Code, taxes as ordinary income the difference between the purchase price for the Shares and the Fair Market Value of the Shares as of the date any restrictions on the Shares lapse. In this context, "restriction" includes the right of the Company to buy back the Shares forfeiture provision pursuant to Paragraph C.1. with respect to the Repurchase Option. Unvested Shares. Participant understands that Participant may elect to be taxed at the time the Shares are purchased granted rather than when and as the Repurchase Option expires forfeiture provision lapses by filing an election under Section 83(b) of the Code with the IRS within thirty (30) days from the date of purchase. The form for making grant. Participant acknowledges that it is Participant's sole responsibility, and not the Corporation's, to file a timely election under code section 83(b), even if Participant requests the Corporation or its representatives to make this election is attached as Exhibit B-3 hereto. THE PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT'S SOLE RESPONSIBILITY AND NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT'S BEHALF. filing on his or her behalf. View More

Tax Consequences. The Participant has reviewed with the Participant's own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant (and not the Company) shall be responsible for the 2 Participant's own tax liability that may arise as a result of this in...vestment or the transactions contemplated by this Agreement. The Participant understands that Section section 83 of the Internal Revenue Code of 1986, as amended (the "Code"), "Code") taxes as ordinary income the difference between the purchase price amount paid for the Shares shares underlying the Restricted Stock and the Fair Market Value of the Shares such shares as of the date any restrictions on the Shares lapse. In this context, "restriction" includes the right of the Company to buy back the Shares shares lapse pursuant to the Repurchase Option. Section 2 of this Agreement. The Participant understands that the Participant may elect to be taxed at the time the Shares shares of Restricted Stock are purchased granted rather than when and as the Repurchase Option Restriction Period expires by filing an election under Section section 83(b) of the Code with the IRS Internal Revenue Service within thirty (30) 30 days from the date Date of purchase. Grant. The form for making this election is attached as Exhibit B-3 A hereto. THE PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT'S SOLE RESPONSIBILITY AND NOT THE COMPANY'S TO TIMELY FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF 83(b) OF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT'S BEHALF. CODE. View More

Tax Consequences. Participant has reviewed with Participant's own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Participant understands that Participant (and not the Company) shall be responsible for Participant's own tax liability that may arise as a result of the transactions contemplated by ...this Agreement. Participant understands that -2- Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"), taxes as ordinary income the difference between the purchase price price, if any, for the Shares and the Fair Market Value of the Shares as of the date any restrictions on the Shares lapse. In this context, "restriction" includes the right of the Company to buy back the Shares pursuant to the Repurchase Option. each vesting date. Participant understands that Participant may elect to be taxed at the time the Shares are purchased granted rather than when and as the Repurchase Option expires such Shares vest by filing an election under Section 83(b) of the Code (the "83(b) Election") with the IRS within thirty (30) days from the date of purchase. grant of the Restricted Stock Award. The form for making this election is attached as Exhibit B-3 hereto. THE PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT'S SOLE RESPONSIBILITY AND NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), 83(b) ELECTION, EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT'S BEHALF. View More

Tax Consequences. Participant has reviewed with Participant's own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Participant understands that Participant (and not the Company) shall be responsible for Participant's own tax liability that may arise as a result of the transactions contemplated by ...this Agreement. Participant understands that Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"), taxes as ordinary income the difference between the purchase price price, if any, for the Shares and the Fair Market Value of the Shares as of the date any restrictions on the Shares lapse. In this context, "restriction" includes the right of the Company to buy back the Shares pursuant to the Repurchase Option. each vesting date. Participant understands that Participant may elect to be taxed at the time the Shares are purchased granted rather than when and as the Repurchase Option expires such Shares vest by filing an election under Section 83(b) of the Code (the "83(b) Election") with the IRS within thirty (30) days from the date of purchase. grant of the Restricted Stock Award. The form for making this election is attached as Exhibit B-3 hereto. THE PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT'S SOLE RESPONSIBILITY AND NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), 83(b) ELECTION, EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT'S BEHALF. View More