Common use of Material Tax Consequences Clause in Contracts

Material Tax Consequences. for Employees Who are Tax Residents in Canada. The following is a general summary of the material Canadian federal income tax consequences of the exchange of options under the offer for Canadian tax residents. This discussion is based on the Canadian tax laws as of the date of the offer, which is subject to change, possibly on a retroactive basis. This summary does not discuss all of the tax consequences that may be relevant to you in light of your particular circumstances, nor is it intended to be applicable in all respects to all categories of option holders. If you are a resident of another country, the information contained in this summary may not be applicable to you. You are advised to seek appropriate professional advice as to how the tax or other laws in your country apply to your specific situation.