Section 83(b) Election definition

Section 83(b) Election means an election by a Participant to include the Fair Market Value of a Share (less any amount paid for the Share) at the time of grant as part of the Participant’s income in accordance with Section 83(b) of the Code. A Section 83(b) Election must be filed in writing with the Internal Revenue Service within thirty (30) days of the date of the Award, with a copy to the Company or Affiliate with whom the Participant is employed.

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Section 83(b) Election means an election under Section 83(b) of the Code, or any successor provision thereto, to include the value of the Restricted Shares in taxable income for the calendar year in which the Award is granted.

Section 83(b) Election means an election made pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to be taxed with respect to the Restricted Shares at the time of grant rather than upon the lapse of the Restrictions.

Examples of Section 83(b) Election in a sentence

• 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.

• The Recipient shall consult with his or her own personal accountant(s) and/or tax advisor(s) regarding these matters, the making of a Section 83(b) Election, and the Recipient’s filing, withholding and payment (or tax liability) obligations.

• If the Recipient properly makes the Section 83(b) Election, the Recipient shall provide a copy of the statement making the Section 83(b) Election to the Company on or before the date on which the statement making the Section 83(b) Election is filed with the Internal Revenue Service and 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.

• By: Name of Participant: Attached is an Internal Revenue Code Section 83(b) Election Form.

More Definitions of Section 83(b) Election

Section 83(b) Election shall have the meaning set forth in Section 5.2(e).

Section 83(b) Election means an election filed with the Internal Revenue Service, electing under Section 83(b) of the Code to be taxed currently on the fair market value of the Restricted Shares on the Date of Grant.

Section 83(b) Election has the meaning set forth in Section 3.08(a).

Section 83(b) Election means an election that complies with the requirements of Section 83(b) of the Code and the Treasury Regulations promulgated thereunder.

Section 83(b) Election means an election by a recipient of Restricted Stock to immediately recognize ordinary compensation income in an amount equal to the Fair Market Value of the Restricted Stock on the date of grant pursuant to Section 83(b) of the Code.

Section 83(b) Election means an election pursuant to Section 83(b) of the Code to recognize tax upon the issuance of Shares or any similar election under the Applicable Law of any applicable jurisdiction.

Section 83(b) Election has the meaning set forth in Section 3.06(a). “Securities” means securities of every kind and nature, including Units, stock, equity interests, notes or bonds, or options or warrants to acquire or convertible into any of the foregoing. “Securities Act” means the Securities Act of 1933, as amended from time to time. “Series A Member” means each Member, Additional Member or Substitute Member, in each case, who holds Series A Units (for so long as such Person holds Series A Units). If a Series A Member holds different classes of Units, then such Series A Member shall be treated as a Series A Member only with respect to its Series A Units. “Series A Threshold” has the meaning set forth in Section 5.02(c). “Series A Units” has the meaning set forth in Section 3.03(b). “Series A-1 Member” means each Member, Additional Member or Substitute Member, in each case, who holds Series A-1 Units (for so long as such Person holds Series A Units). If a Series A-1 Member holds different classes of Units, then such Series A-1 Member shall be treated as a Series A-1 Member only with respect to its Series A-1 Units. “Series A-1 Units” has the meaning set forth in Section 3.03(b). “Series B Members” means each Member, Additional Member or Substitute Member, in each case, who holds Series B Units (for so long as such Person holds Series B Units). If a Series B Member holds different classes of Units, then such Series B Member shall be treated as a Series B Member only with respect to its Series B Units. “Series B Threshold” has the meaning set forth in Section 5.02(b). “Series B Units” has the meaning set forth in Section 3.03(c). “Significant Member” means, as of a particular date, each Class C Common Member holding a Percentage Interest (when aggregated with the Percentage Interest of its Affiliates and Permitted Transferees) equal to or greater than 5.0 % as of such date. For the avoidance of doubt, no Series A-1 Member or Class C-1 Member shall be or be deemed to be a Significant Member hereunder.