Tax Matters; Section 83(b) Election. The Grantee hereby agrees to make an election to include in gross income in the year of transfer the Award LTIP Units hereunder pursuant to Section 83(b) of the Internal Revenue Code substantially in the form attached hereto as Exhibit B and to supply the necessary information in accordance with the regulations promulgated thereunder.
Tax Matters; Section 83(b) Election. (a) If the Recipient properly elects, within thirty (30) days of the Date of Grant, to include in gross income for federal income tax purposes an amount equal to the fair market value (as of the Date of Grant) of the Restricted Stock pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), the Recipient shall make arrangements satisfactory to the Company to pay to the Company any federal, state or local income taxes required to be withheld with respect to the Restricted Stock. If the Recipient shall fail to make such tax payments as are required, the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be issued to the Recipient under this Agreement) otherwise due to the Recipient any federal, state or local taxes of any kind required by law to be withheld with respect to the Restricted Stock.
Tax Matters; Section 83(b) Election. (a) If the Recipient does not properly make the election described in Section 9(b) below, the Recipient shall, no later than the date or dates as of which the restrictions referred to in this Agreement hereof shall lapse, pay to the Company, or make arrangements satisfactory to the Committee for payment of, any federal, state, local or foreign taxes of any kind that the Company determines are required by law to be withheld with respect to the Restricted Stock (including without limitation the vesting thereof), and the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be distributed to the Recipient under this Agreement) otherwise due to Recipient any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to the Restricted Stock.
Tax Matters; Section 83(b) Election. (a) If the Recipient properly elects, within thirty (30) days of the Date of Grant, to include in gross income for federal income tax purposes an amount equal to the fair market value (as of the Date of Grant) of the Restricted Stock pursuant to Section 83(b) of the Code, the Recipient shall make arrangements satisfactory to the Company to pay to the Company any federal, state or local income taxes required to be withheld with respect to the Restricted Stock. If the Recipient shall fail to make such tax payments as are required, the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be issued to you under this Agreement) otherwise due to the Recipient any federal, state or local taxes of any kind required by law to be withheld with respect to the Restricted Stock.
Tax Matters; Section 83(b) Election. The Grantee hereby agrees to make an election (an “83(b) Election”) to include in gross income in the year of transfer the unvested Award LTIP Units hereunder pursuant to and in accordance with the requirements of Section 83(b) of the Code substantially in the form attached hereto as Exhibit B and to supply the necessary information in accordance with the regulations promulgated thereunder. The Grantee shall provide a copy of the Section 83(b) Election to the Company. In no event shall the Grantee make an 83(b) Election with respect to the Award prior to the Grant Effective Date.
Tax Matters; Section 83(b) Election. (a) If the Recipient properly elects, within thirty (30) days of the Date of Grant, to include in gross income for federal income tax purposes an amount equal to the fair market value (as of the Date of Grant) of the Performance Stock pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), the Recipient shall make arrangements satisfactory to the Company to pay to the Company any federal, state or local income taxes required to be withheld with respect to the Performance Stock. If the Recipient shall fail to make such tax payments as are required, the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the Recipient any federal, state or local taxes of any kind required by law to be withheld with respect to the Performance Stock.
Tax Matters; Section 83(b) Election. The Participant agrees not to make an election to include in gross income in the year of transfer the Restricted Shares hereunder pursuant to Section 83(b) of the Internal Revenue Code (the “Code”), and any such election made will result in the automatic termination and forfeiture of all Restricted Shares granted hereunder and Dividends Earned pursuant to Section 1(c) above, each without notice or consideration.
Tax Matters; Section 83(b) Election. (a) If the Recipient properly elects, within thirty (30) days of the Date of Grant, to include in gross income for federal income tax purposes an amount equal to the fair market value (as of the Date of Grant) of the Restricted Stock pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), the Recipient shall promptly make arrangements satisfactory to the Company to pay to the Company any federal, state or local income taxes required to be withheld with respect to the Restricted Stock. Failure by the Recipient to pay such Withholding Taxes will render this Agreement and the Restricted Stock granted hereunder null and void ab initio and the Restricted Stock shares granted hereunder will be immediately cancelled.
Tax Matters; Section 83(b) Election. (i) If the Optionee properly elects, within thirty (30) days of the date on which the Option is exercised, to include in gross income for federal income tax purposes an amount equal to the fair market value (as of the date on which the Option is exercised) of the Non-Vested Shares pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), the Optionee shall make arrangements satisfactory to the Company to pay to the Company any federal, state or local income taxes required to be withheld with respect to the Non-Vested Shares. If the Optionee shall fail to make such tax payments as are required, the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be issued to the Optionee under this Agreement) otherwise due to the Optionee any federal, state or local taxes of any kind required by law to be withheld with respect to the Non-Vested Shares.
Tax Matters; Section 83(b) Election. (a) The transactions contemplated by this Agreement are intended to constitute purchases of shares of Common Stock of the Company at fair market value. The Company agrees that it will not claim any tax deduction in respect of compensation either at the time that the Shares are issued to Xxxxxx, or at the time of resale, and will provide Xxxxxx with written confirmation of this fact as set forth in Section 1.83-5(b)(2) or other applicable provision of the Treasury Regulations. The Company further agrees that, unless otherwise required by applicable law or regulations, it will not withhold any amounts from other compensation with respect to the shares purchased under this Agreement, and will not file any information returns with the IRS or state tax authorities treating the transactions contemplated by this Agreement hereby as involving the payment of compensation to Xxxxxx. The Company will cooperate with Xxxxxx in connection with a Section 83(b) election.
