Common use of Section 83(b) Clause in Contracts

Section 83(b). If the Participant properly elects (as permitted by Section 83(b) of the Code) within thirty (30) days after the issuance of the Restricted Stock to include in gross income for federal income tax purposes in the year of issuance the fair market value of such Restricted Stock, the Participant shall deliver to the Company a signed copy of such election within 10 days after the making of such election, and shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, local or other taxes of any kind that the Company is required to withhold with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 11 contracts

Samples: Restricted Stock Agreement (Tellurian Inc. /De/), Restricted Stock Agreement (Tellurian Inc. /De/), Restricted Stock Agreement (Tellurian Inc. /De/)

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Section 83(b). If the Participant properly elects (as permitted by Section section 83(b) of the Code) within thirty (30) days after the issuance of the Restricted Stock to include in gross income for federal income tax purposes in the year of issuance the fair market value of such Restricted Stock, the Participant shall deliver to the Company a signed copy of such election within 10 days promptly after the making of such election, and shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, local or other taxes of any kind that the Company is required to withhold with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 3 contracts

Samples: Rofr Agreement (Vir Biotechnology, Inc.), Rofr Agreement (Vir Biotechnology, Inc.), Restricted Stock Agreement (Installed Building Products, Inc.)

Section 83(b). If the Participant properly elects (as permitted by Section 83(b) of the Code) within thirty (30) 30 days after the issuance of the Restricted Stock to include in gross income for federal income tax purposes in the year of issuance the fair market value of such Restricted Stock, the Participant shall deliver to the Company a signed copy of such election within 10 days after the making of such election, and shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, state or local or other taxes of any kind that the Company is required to withhold be withheld with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 3 contracts

Samples: Restricted Stock Agreement (GNC Holdings, Inc.), Restricted Stock Agreement (GNC Holdings, Inc.), Restricted Stock Agreement (GNC Holdings, Inc.)

Section 83(b). If the Participant properly elects (as permitted by Section section 83(b) of the Code) within thirty (30) calendar days after the issuance of the Restricted Stock to include in gross income for federal income tax purposes in the year of issuance the fair market value of such Restricted Stock, the Participant shall deliver to the Company a signed copy of such election within 10 days promptly after the making of such election, and shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, local or other taxes of any kind that the Company is required to withhold with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 1 contract

Samples: Restricted Stock Agreement (Installed Building Products, Inc.)

Section 83(b). If the Participant properly elects (as permitted by under Section 83(b) of the Code) Code within thirty (30) days after the issuance of the Restricted Stock Issue Date to include in gross income for federal income tax purposes in the year of issuance the fair market value of such the Restricted Stock, the Participant shall promptly deliver to the Company a signed copy of such election within 10 days after election. In the making event of such election, and the Participant shall promptly pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, local or other taxes of any kind that the Company is required to withhold with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 1 contract

Samples: Performance Share Award Agreement (Installed Building Products, Inc.)

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Section 83(b). If the Participant properly elects (as permitted by Section 83(b) of the Code) within thirty (30) 30 days after the issuance of the Restricted Stock to include in gross income for federal income tax purposes in the year of issuance the fair market value of such Restricted Stock, the Participant shall deliver to the Company a signed copy of such election within 10 days after the making of such election, and shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, local or other taxes of any kind that the Company is required to withhold with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 1 contract

Samples: Restricted Stock Agreement (Ares Commercial Real Estate Corp)

Section 83(b). If the Participant properly elects (as permitted by Section 83(b) of the Code) within thirty (30) calendar days after the issuance of the Restricted Stock to include in gross income for federal income tax purposes in the year of issuance the fair market value of such Restricted Stock, the Participant shall deliver to the Company a signed copy of such election within 10 days promptly after the making of such election, and shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company upon such election, any federal, state, local or other taxes of any kind that the Company is required to withhold with respect to the Restricted Stock. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file timely and properly the election under Section 83(b) of the Code and any corresponding provisions of state tax laws if he or she elects to utilize such election.

Appears in 1 contract

Samples: Restricted Stock Agreement (Installed Building Products, Inc.)

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