Common use of SECTION 83 ELECTION Clause in Contracts

SECTION 83 ELECTION. The Grantee may make an election under Code Section 83(b) (a “Section 83(b) Election”) with respect to the Restricted Stock granted under this Agreement. Any such election must be made within thirty (30) days after the Effective Date. If the Grantee elects to make a Section 83(b) Election, the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The Grantee agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.

SECTION 83 ELECTION. The Grantee Participant may make an election under Code Section 83(b) (a “Section 83(b) Election”) with respect to the Restricted Stock granted under this Agreement. Any such election must be made within thirty (30) days after the Effective Date. If the Grantee Participant elects to make a Section 83(b) Election, the Grantee Participant shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US U.S. Internal Revenue Service. The Grantee Participant agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US U.S. Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.