Common use of SPECIAL TAX ELECTION Clause in Contracts

SPECIAL TAX ELECTION. The acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. The form for making the Code Section 83(b) election are set forth in Exhibit III. EMPLOYEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(B) ELECTION. EMPLOYEE ACKNOWLEDGES THAT IT IS EMPLOYEE'S SOLE RESPONSIBILITY, AND NOT THE COMPANY'S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(B) , EVEN IF EMPLOYEE REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

Appears in 3 contracts

Samples: Employment Agreement (Ion Networks Inc), Employment Agreement (Ion Networks Inc), Employment Agreement (Ion Networks Inc)

AutoNDA by SimpleDocs

SPECIAL TAX ELECTION. The In the event the Purchased Shares include Option Shares which have not yet vested as of the date hereof, the acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. The form for making the Code Section 83(b) election are set forth in Exhibit III. EMPLOYEE OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(B83(b) ELECTION. EMPLOYEE OPTIONEE ACKNOWLEDGES THAT IT IS EMPLOYEE'S OPTIONEE’S SOLE RESPONSIBILITY, AND NOT THE COMPANY'SCORPORATION’S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(B) 83(b), EVEN IF EMPLOYEE OPTIONEE REQUESTS THE COMPANY CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

Appears in 1 contract

Samples: Grant of Stock Option (White Mountain Titanium Corp)

SPECIAL TAX ELECTION. The In the event the Purchased Shares include Option Shares which have not yet vested as of the date hereof, the acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. The form for making the Code Section 83(b) election are set forth in Exhibit III. EMPLOYEE OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(B83(b) ELECTION. EMPLOYEE OPTIONEE ACKNOWLEDGES THAT IT IS EMPLOYEEOPTIONEE'S SOLE RESPONSIBILITY, AND NOT THE COMPANYCORPORATION'S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(B) 83(b), EVEN IF EMPLOYEE OPTIONEE REQUESTS THE COMPANY CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

Appears in 1 contract

Samples: Grant of Stock Option (Caneum Inc)

SPECIAL TAX ELECTION. The acquisition of the Purchased Option Shares may result -------------------- in adverse tax consequences which that may be avoided or mitigated by filing an election under Internal Revenue Code Section 83(b). Such election must be filed within thirty (30) days after the date Exercise Date. A description of this Agreement. The form for making the Code Section 83(b) election are tax consequences applicable to the acquisition of the Option Shares is set forth in Exhibit III. EMPLOYEE B. THE OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED OPTION SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(B83(b) ELECTION. EMPLOYEE THE OPTIONEE ACKNOWLEDGES THAT IT IS EMPLOYEETHE OPTIONEE'S SOLE RESPONSIBILITY, AND NOT THE COMPANY'S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(B) 83(b), EVEN IF EMPLOYEE THE OPTIONEE REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

Appears in 1 contract

Samples: Stock Option Agreement (Staar Surgical Company)

AutoNDA by SimpleDocs

SPECIAL TAX ELECTION. 1. The compensation income recognized by the Optionee in connection with the acquisition of the Purchased Shares may result in adverse tax consequences which may under certain circumstances be avoided or mitigated reduced by filing an election under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. The A description of the tax consequences applicable to the acquisition of the Purchased Shares and the form for making the Code Section 83(b) election are set forth in Exhibit IIIII. 2. EMPLOYEE OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(B) ELECTION. EMPLOYEE OPTIONEE ACKNOWLEDGES THAT IT IS EMPLOYEEOPTIONEE'S SOLE RESPONSIBILITY, AND NOT THE COMPANYCORPORATION'S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(B) ), EVEN IF EMPLOYEE OPTIONEE REQUESTS THE COMPANY CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

Appears in 1 contract

Samples: Stock Purchase Agreement (Overseas Filmgroup Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!