Common use of No Section 83(b) Elections Clause in Contracts

No Section 83(b) Elections. Because such election could have an impact on the Company’s ability to continue as a real estate investment trust under the Code (defined below), Employee agrees that Employee will not file an election under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to the Shares. If Employee does file a Section 83(b) election then such election shall cause the forfeiture of all of the Shares, without proration (notwithstanding Section 1(a)).

No Section 83(b) Elections. Because such election could have an impact on the Company’s ability to continue as a real estate investment trust under the Internal Revenue Code of 1986, as amended (defined belowthe “Code”), Employee agrees that Employee will not file an election under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to the Shares. If Employee does file a Section 83(b) election then such election shall cause the immediate forfeiture of all of the Shares, without proration (notwithstanding anything in Section 1(a)1 to the contrary).