Common use of Tax Election Clause in Contracts

Tax Election. The issuance of the Shares may result in adverse tax consequences that may be avoided or mitigated by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the "Section 83(b) Election") within 30 days after the date of purchase. The Employee acknowledges that he has consulted with his tax advisor to determine the tax consequences of acquiring the Purchased Shares and the advantages and disadvantages of filing the Section 83(b) Election and that it is his sole responsibility, and not the Company's, to file the Section 83(b) Election in a timely manner, even if the Employee request the Company to make such filing on his behalf.

Appears in 11 contracts

Samples: Employment, Lock Up and Options Agreement (AMERICATOWNE Inc.), Employment, Lock Up and Options Agreement (AMERICATOWNE Inc.), Employment, Lock Up and Options Agreement (AMERICATOWNE Inc.)

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Tax Election. The issuance acquisition of the Purchased Shares may result in adverse tax consequences that may be avoided or mitigated by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the "Section 83(b) Election") within 30 days after the date of purchase. The Employee Founder acknowledges that he has consulted with his tax advisor to determine the tax consequences of acquiring the Purchased Shares and the advantages and disadvantages of filing the Section 83(b) Election and that it is his sole responsibility, and not the Company's, to file the Section 83(b) Election in a timely manner, even if the Employee Founder request the Company to make such filing on his behalf.

Appears in 10 contracts

Samples: Founder Stock Purchase Agreement, Founder Stock Purchase Agreement (Tranquility Inc), Founder Stock Purchase Agreement (Tranquility Inc)

Tax Election. The issuance of the Shares may result in adverse tax consequences that may be avoided or mitigated by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the "Section 83(b) Election") within 30 days after the date of purchase. The Employee acknowledges that he has consulted with his tax advisor to determine the tax consequences of acquiring the Purchased Shares and the advantages and disadvantages of filing the Section 83(b) Election and that it is his sole responsibility, and not the Company's’s, to file the Section 83(b) Election in a timely manner, even if the Employee request the Company to make such filing on his behalf.

Appears in 8 contracts

Samples: Employment Agreement (ATI Nationwide Holding Corp.), Employment Agreement (ATI Nationwide Holding Corp.), Employment Agreement (ATI Nationwide Holding Corp.)

Tax Election. The issuance of the Shares may result in adverse tax consequences that may be avoided or mitigated by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the "Section 83(b) Election") within 30 days after the date of purchase. The Employee acknowledges that he has consulted with his tax advisor to determine the tax consequences of acquiring the Purchased Shares and the advantages and disadvantages of filing the Section 83(b) Election and that it is his sole responsibility, and not the Company's’s, to file the Section 83(b) Election in a timely manner, even if the Employee request requests the Company to make such filing on his behalf.

Appears in 2 contracts

Samples: Employment Agreement (ATI Modular Technology Corp.), Employment Agreement (ATI Modular Technology Corp.)

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Tax Election. The issuance of the Shares may result in adverse tax consequences that may be avoided or mitigated by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the "Section 83(b) Election") within 30 days after the date of purchase. The Employee acknowledges that he she has consulted with his her tax advisor to determine the tax consequences of acquiring the Purchased Shares and the advantages and disadvantages of filing the Section 83(b) Election and that it is his her sole responsibility, and not the Company's, to file the Section 83(b) Election in a timely manner, even if the Employee request the Company to make such filing on his her behalf.

Appears in 1 contract

Samples: Employment, Lock Up and Options Agreement (AMERICATOWNE Inc.)

Tax Election. The issuance of the Shares may result in adverse tax consequences that may be avoided or mitigated by filing an election under Section 83(b) of the Internal Revenue Code of 1986 (the "Section 83(b) Election") within 30 days after the date of purchase. The Employee acknowledges that he she has consulted with his her tax advisor to determine the tax consequences of acquiring the Purchased Shares and the advantages and disadvantages of filing the Section 83(b) Election and that it is his her sole responsibility, and not the Company's’s, to file the Section 83(b) Election in a timely manner, even if the Employee request the Company to make such filing on his her behalf.

Appears in 1 contract

Samples: Employment, Lock Up and Options Agreement (AMERICATOWNE Inc.)

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