Performance Units Not Tax-Qualified Sample Clauses
The 'Performance Units Not Tax-Qualified' clause defines that the performance units granted under a plan are not intended to qualify for any special tax treatment under applicable tax laws. In practice, this means that recipients of these units may be subject to ordinary income tax on the value of the units when they are paid out, rather than benefiting from favorable tax rates or deferrals that might apply to tax-qualified awards. The core function of this clause is to clarify the tax status of the performance units, ensuring that both the company and recipients understand the potential tax implications and do not mistakenly assume preferential tax treatment.
Performance Units Not Tax-Qualified. The Participant understands that the Performance Units are not intended to be French tax-qualified pursuant to Section L. 225-197 1 to L. 225-197 6 of the French Commercial Code, as amended. Language Consent. By accepting the Performance Units, the Participant confirms having read and understood the Plan and the Award Agreement, including all terms and conditions included therein, which were provided in the English language. The Participant accepts the terms of those documents accordingly.
Performance Units Not Tax-Qualified. The Performance Units are not intended to be French tax-qualified.
Performance Units Not Tax-Qualified. The Participant understands that the Performance Units are not intended to be French tax-qualified pursuant to Section L. 225-197 1 to L. 225-197 6 of the French Commercial Code, as amended. Language Consent. By accepting the Performance Units, the Participant confirms having read and understood the Plan and the Award Agreement, including all terms and conditions included therein, which were provided in the English language. Participant accepts the terms of those documents accordingly. En acceptant ces <<Performance Units>>, le Participant confirme avoir lu et compris le Plan et le convention, incluant tous leurs termes et conditions, qui ont été transmis en langue anglaise. Le Participant accepte les dispositions de ces documents en connaissance de cause.