Taxes; Section 83(b) Election. The Participant acknowledges that (i) no later than the earlier of (x) the date on which any Restricted Shares shall have become vested or (y) the date on which the Participant makes a Section 83(b) election (if he or she so chooses to make such an election), the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding payment of, any Federal, state or local or other taxes of any kind required by law to be withheld with respect to any Restricted Shares which shall have become so vested; (ii) the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the Participant any Federal, state or local or other taxes of any kind required by law to be withheld with respect to any Restricted Shares which shall have become so vested, including that the Company may, but shall not be required to, sell a number of Restricted Shares sufficient to cover applicable withholding taxes; and (iii) in the event that the Participant does not satisfy (i) above on a timely basis, the Company may, but shall not be required to, pay such required withholding and, to the extent permitted by applicable law, treat such amount as a demand loan to the Participant at the maximum rate permitted by law, with such loan, at the Company’s sole discretion and provided the Company so notifies the Participant within thirty (30) days of the making of the loan, secured by the Restricted Shares and any failure by the Participant to pay the loan upon demand shall entitle the Company to all of the rights at law of a creditor secured by the Restricted Shares. The Company may hold as security any certificates representing any Restricted Shares and, upon demand of the Company, the Participant shall deliver to the Company any certificates in his or her possession representing the Restricted Shares together with a stock power duly endorsed in blank. The Participant also acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly any election under Section 83(b) of the Code, and any corresponding provisions of state tax laws, if the Participant wishes to utilize such election.
Taxes; Section 83(b) Election. The Participant has reviewed with the Participant’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of the transactions contemplated by this Agreement. The Participant understands that it may be beneficial in many circumstances to elect to be taxed at the time the Shares are granted rather than when and as the risk of forfeiture lapses by filing an election under Section 83(b) of the Code with the I.R.S. within 30 days from the date of grant. THE PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT’S BEHALF.
Taxes; Section 83(b) Election. The Participant acknowledges that (i) no later than the date on which any Restricted Stock shall have become vested or upon the filing of an election under Section 83(b) as provided below, the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to any Restricted Stock which shall have become so vested; and (ii) the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the Participant any federal, state or local taxes of any kind required by law to be withheld with respect to any Restricted Stock which shall have become so vested or other withholding taxes that are required by law, including that the Company may, but shall not be required to, sell a number of Shares sufficient to cover applicable withholding taxes. The Participant also acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly any election under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and any corresponding provisions of state tax laws, if the Participant wishes to utilize such election.
Taxes; Section 83(b) Election. The Recipient acknowledges and agrees that the Recipient is solely responsible for any and all taxes that may be assessed by any taxing authority arising in any way out of the award of Restricted Shares and that the Company is not liable for any such assessments. The grant and the vesting of the Restricted Shares, and the payment of dividends with respect to the Restricted Shares, may give rise to taxable income subject to withholding. The Recipient expressly acknowledges and agrees that the Recipient's rights hereunder are subject to the Recipient promptly paying to the Company in cash (or by such other means as may be acceptable to the Company in its discretion, including, if the Company so determines, by the delivery of previously acquired shares of the Company's common stock held for at least six months, the delivery or withholding of Shares acquired hereunder or by the withholding of amounts from any payment hereunder) all taxes required to be withheld in connection with such grant, vesting or payment. The Recipient acknowledges and agrees that the Recipient is aware of and understands the tax consequences to the Recipient of this Agreement. Without limiting the foregoing, the Recipient acknowledges and agrees that the Recipient has been advised to confer promptly with a professional tax advisor to consider whether the Recipient should make a so-called "83(b) election" with respect to the Restricted Shares. Any such election, to be effective, must be made in accordance with applicable regulations and within 30 days following the Grant Date. The Recipient acknowledges and agrees that the Company has made no recommendation to the Recipient with respect to the advisability of making such an election.
Taxes; Section 83(b) Election. (a) Because Grantee is a non-employee director, QPAGOS will not make any provision for the withholding of federal, state, or local taxes in connection with the grant or vesting of the Shares QPAGOS will provide Grantee with a completed IRS Form 1099 reporting non-employee compensation and certain other payments made to Grantee by QPAGOS for Grantee’s service as a director, including payments in connection with the Shares. Grantee is responsible for his tax obligations in connection with the grant and vesting of the Shares, and the Company recommends that Grantee consult with his tax advisor
(b) Grantee understands that under section 83 of the Internal Revenue Code of 1986, as amended (the “Code”), as of the date that any forfeiture restrictions applicable to any Shares lapse, the excess of the fair market value of those Shares on that date over the purchase price paid for those Shares will be reportable as ordinary income. Grantee understands, however, that he may elect to be taxed at the time the Shares are acquired under this Agreement, rather than when the Shares cease to be subject to the forfeiture restrictions of this Agreement, by filing an election under Section 83(b) of the Code with the Internal Revenue Service within 30 days after the date of this Agreement.
(c) Grantee acknowledges that it is his sole responsibility, and not QPAGOS’s, to file a timely election under section 83(b), even if Grantee requests that QPAGOS or its representatives make this filing on Grantee’s behalf.
Taxes; Section 83(b) Election. To the extent applicable, the Participant shall be subject to the provisions of Section 12 of the Plan with respect to any withholding or other tax obligations in connection with the grant, vesting or settlement of the Restricted Shares or otherwise in connection with this Agreement. The Participant also acknowledges that it is his, her or its sole responsibility, and not the Company’s, to file timely and properly any election under Section 83(b) of the Code, and any corresponding provisions of state tax laws, if the Participant wishes to utilize such election.
Taxes; Section 83(b) Election. The Participant acknowledges that it is the Participant’s sole responsibility to pay any taxes arising in connection with the Restricted stock and that it is the Participant’s sole responsibility, and not the Company’s, to file timely and properly an election under Section 83(b) of the Code and any corresponding provisions of state tax laws, if the Participant so desires.
Taxes; Section 83(b) Election. The Executive has reviewed with the Executive's own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Executive is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Executive understands that the Executive (and not the Company) shall be responsible for the Executive's own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. The Executive understands that it may be beneficial in many circumstances to elect to be taxed at the time the Shares are purchased rather than when and as the Company's Purchase Option expires by filing an election under Section 83(b) of the Internal Revenue Code of 1986 with the I.R.S. within 30 days from the date of purchase. THE EXECUTIVE ACKNOWLEDGES THAT IT IS SOLELY THE EXECUTIVE'S RESPONSIBILITY AND NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF THE EXECUTIVE REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE EXECUTIVE'S BEHALF.
Taxes; Section 83(b) Election. Participants shall be responsible for the amount of any applicable federal, state and local tax associated with the lapse of any restrictions on the Restricted Shares. Upon issuance of the Restricted Shares under this Agreement, the Participant shall be entitled to make an election under Internal Revenue Code (the “Code”) Section 83(b) to include, as compensation for services rendered, the current fair market value of the Restricted Shares in the Participant’s gross income as of the date in on which the Restricted Shares are issued to the Participant; provided if the Participant elects to do so, the Participant shall promptly execute and deliver to the Company a copy of the election under Section 83(b) of the Code. At the time the Participant becomes taxable with respect to some or all of the Restricted Shares, whether by reason of such an election under Section 83(b) of the Code or by reason of lapse of the substantial risk of forfeiture pursuant to Section 3, the Company shall notify the Participant of the current fair market value.
Taxes; Section 83(b) Election. The Participant acknowledges, subject to the last sentence of this paragraph, that (i) no later than the date on which any Restricted Stock shall have become vested, the Participant shall pay to the Corporation, or make arrangements satisfactory to the Corporation regarding payment of, any Federal, state or local taxes of any kind required by law to be withheld with respect to any Restricted Stock which shall have become so vested; (ii) the Corporation shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the Participant any Federal, state or local taxes of any kind required by law to be withheld with respect to any Restricted Stock which shall have become so vested, including that the Corporation may, but shall not be required to, sell a number of Shares or treat a number of Shares as forfeited, in either case sufficient to cover applicable withholding taxes; and
