Section 431 Election. Participant agrees that, if requested to do so by the Company, Participant shall immediately upon the exercise of the Option enter into an irrevocable joint election with the Company pursuant to section 431 of the U.K. Income Tax (Earnings and Pensions) Act 2003 (“ITEPA”) in a form specified by the Company that, for the relevant tax purposes, the market value of the share acquired is to be calculated as if the share were not restricted securities (as defined in section 423 of ITEPA) and sections 425 to 430 of ITEPA shall not apply to such shares.
Appears in 4 contracts
Samples: Non Qualified Stock Option Agreement (INSMED Inc), Nonqualified Stock Option Inducement Award Agreement (INSMED Inc), Non Qualified Stock Option Agreement (INSMED Inc)
