Common use of Notification of Election Clause in Contracts

Notification of Election. Under Section 83(b) of the Code. If the Award Recipient shall, in connection with the grant of Restricted Stock under this Agreement, make the election permitted under Section 83(b) of the Internal Revenue Code of 1986, as amended (the "Code"), (i.e., an election to include in gross income in the year of transfer the amounts specified in Section 83(b) of the Code), then the Award Recipient must make such an election using a form provided by the Company. The election must be received by the Internal Revenue Service within 30 calendar days following the Grant Date. The Award Recipient shall also provide the Company with a copy of such election within 10 calendar days of filing a notice of election with the Internal Revenue Service and shall, at the same time as such notice of election is provided to the Company, remit to the Company in cash an amount sufficient to satisfy any tax withholding obligations.

Notification of Election. Under Section 83(b) of the Code. If the Award Recipient shall, in connection with the grant of Restricted Stock under this Agreement, make the election permitted under Section 83(b) of the Internal Revenue Code of 1986, as amended (the "Code"), (i.e., an election to include in gross income in the year of transfer the amounts specified in Section 83(b) of the Code), then the Award Recipient must make such an election using a form provided by the Company. The election must be received by the Internal Revenue Service within 30 calendar days following the Grant Date. The Award Recipient shall also provide the Company Committee with a copy of such election within 10 calendar days of filing a notice of election with the Internal Revenue Service and shall, at the same time as such notice of election is provided to the CompanyCommittee, remit to the Company in cash an amount sufficient to satisfy any tax withholding obligations.