Common use of Covenant Regarding 83(b) Election Clause in Contracts

Covenant Regarding 83(b) Election. Except as WMC may otherwise agree in writing, the Employee Stockholder hereby covenants and agrees that he will make an election provided pursuant to Treasury Regulation 1.83-2 with respect shares of Option Stock to be acquired upon each exercise of the Employee Stockholder's Options; and the Employee Stockholder further covenants and agrees that he or she will furnish WMC with copies of the forms of election the Employee Stockholder files and within 30 days after each exercise of the Employee Stockholder Options and with evidence that each such election has been filed in a timely manner.

Covenant Regarding 83(b) Election. Except as WMC may otherwise agree in writing, the Employee Stockholder hereby covenants and agrees that he will make an election provided pursuant to Treasury Regulation 1.83-2 with respect to shares of Option Stock to be acquired upon each exercise of the Employee Stockholder's Options; and the Employee Stockholder further covenants and agrees that he or she will furnish WMC with copies of the forms of election the Employee Stockholder files and within 30 days after each exercise of the Employee Stockholder Options and with evidence that each such election has been filed in a timely manner.