Federal Income Tax Election. The Director hereby acknowledges receipt of advice that, pursuant to current federal income tax laws, (i) he or she has thirty (30) days in which to elect to be taxed in the current taxable year on the fair market value of the restricted Common Stock in accordance with the provisions of Internal Revenue Code Section 83(b), and (ii) if no such election is made, the taxable event will occur upon expiration of restrictions on transfer at termination of the Restriction Period and the tax will be measured by the fair market value of the restricted Common Stock on the date of the taxable event.
Appears in 6 contracts
Samples: Agreement for Restricted Stock (First Financial Bancorp /Oh/), Agreement for Restricted Stock Award (First Financial Bancorp /Oh/), Agreement for Restricted Stock Award (First Financial Bancorp /Oh/)
Federal Income Tax Election. The Director Employee hereby acknowledges receipt of advice that, pursuant to current federal income tax laws, (i) he or she has thirty (30) days in which to elect to be taxed in the current taxable year on the fair market value of the restricted Common Stock in accordance with the provisions of Internal Revenue Code Section 83(b), and (ii) if no such election is made, the taxable event will occur upon expiration of restrictions on transfer at termination of the Restriction Period and the tax will be measured by the fair market value of the restricted Common Stock on the date of the taxable event.
Appears in 3 contracts
Samples: Form of Agreement for Restricted Stock Award (First Financial Bancorp /Oh/), Agreement for Restricted Stock Award (First Financial Bancorp /Oh/), Stock Incentive Plan for Officers and Employees Agreement for Restricted Stock Award (First Financial Bancorp /Oh/)