Possible Tax Consequences. While the distribution of the Rights will not be taxable to stockholders of the Company, stockholders may, depending upon the circumstances, recognize taxable income should the Rights become exercisable or upon the occurrence of certain events thereafter.
Possible Tax Consequences. The Benefits provided under this Addendum may be taxable to you or your estate as income. This means that you may be required to pay federal and/or state income tax on the Benefits provided. We will NOT pay any income tax owed by you or your estate. You (or any Responsible Party) should consult your own tax advisor regarding the consequences of any Benefits received under this Addendum.
Possible Tax Consequences. The amounts protected upon activation of this Contract may be taxable to you or your estate as income. This means that you may be required to pay federal and/or state income tax on the amount of protection provided. This Contract will NOT pay any income tax owed by you or your estate. You should consult your own tax advisor regarding the consequences of any protection received under this Contract.
Possible Tax Consequences. Employee understands that he (and not the Company) shall be responsible for his own federal, state, local or foreign tax liability and any of his other tax consequences that may arise as a result of the transactions contemplated by this Agreement. Employee shall rely solely on the determinations of his tax advisors or his own determinations, and not on any statements or representations by the Company or any of its agents, with regard to all such tax matters. Employee understands that Section 83 of the Code taxes as ordinary income the difference between the amount paid for the Restricted Stock, if any, and the fair market value of the shares as of the date any restrictions on the shares lapse. In this context, “restriction” includes without limitation the vesting restrictions set forth in Section 2 hereof. Employee understands that Employee may elect to be taxed at the time the shares of Restricted Stock are received rather than when and as the restrictions on the shares lapse or expire by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the “Code”) with the Internal Revenue Service within 30 days from the date of the acquisition. In the event Employee files an election under Section 83(b) of the Code, such election shall contain all information required under the applicable Treasury regulation(s) and Employee shall deliver a copy of such election to the Company contemporaneously with filing such election with the Internal Revenue Service.
Possible Tax Consequences. Employee understands that he (and not the Company) shall be responsible for his own federal, state, local or foreign tax liability and any of his other tax consequences that may arise as a result of the transactions contemplated by this Agreement. Employee shall rely solely on the determinations of his tax advisors or his own determinations, and not on any statements or representations by the Company or any of its agents, with regard to all such tax matters. Employee understands that Section 83 of the Code taxes as ordinary income the difference between the amount paid for the Shares, if any, and the fair market value of the Shares as of the date any restrictions on the Shares lapse. In this context, “restriction” includes without limitation the vesting restrictions set forth in paragraph 2 hereof. “Restriction” with respect to officers, directors and 10% stockholders also means the period during which such officer, director and 10% stockholders could be subject to suit under Section 16(b) of the Securities Exchange Act of 1934 in connection with a sale. Employee understands that Employee may elect to be taxed at the time the Shares are received rather than when and as the restrictions on the Shares lapse or expire by filing an election under Section 83(b) of the Code with the Internal Revenue Service within 30 days from the date of the acquisition. In the event Employee files an election under Section 83(b) of the Code, such election shall contain all information required under the applicable treasury regulation(s) and Employee shall deliver a copy of such election to the Company contemporaneously with filing such election with the Internal Revenue Service.
