Company: GNMSF
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001558370-25-000846
Chunk: 126

Company: GENMAB A/S
Filing Date: 2025-02-12
Form: 20-F
Item: Item 10
Chunk 126
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 the tax consequences described in this summary. The Company undertakes no 

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obligation to publicly update or otherwise revise this summary whether as a result of new Treasury Regulations, Code sections, judicial and administrative interpretations or otherwise. 
This summary applies only to U.S. Holders (as defined below) that hold the ADSs as capital assets within the meaning of Section 1221 of the Code (generally, property held for investment). This summary does not address any U.S. federal estate and gift tax, alternative minimum tax or Medicare tax on net investment income consequences, or any U.S. state or local or non-U.S. tax consequences. This summary also does not address the tax considerations that may be relevant to certain types of investors subject to special treatment under U.S. federal income tax laws, such as:

●   banks and other financial institutions;
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●   insurance companies;
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●   regulated investment companies or real estate investment trusts;
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●   dealers or traders in securities or currencies that use a mark-to-market method of accounting;
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●   broker-dealers;
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●   tax exempt organizations, retirement plans, individual retirement accounts and other tax deferred accounts;
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●   persons holding the ADSs as part of a straddle, hedging, conversion or integrated transaction for U.S. federal income tax purposes;
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●   U.S. expatriates;
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●   U.S. Holders whose functional currency is not the U.S. dollar;
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●   any entity or arrangement classified as a partnership for U.S. federal income tax purposes or investors therein;
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●   persons who own or are deemed to own, directly or constructively, 10% or more of the total combined voting power of all classes of the Company’s voting stock or 10% or more of the total value of shares of all classes of the Company’s stock;
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●   persons subject to special tax accounting rules as a result of any item of gross income with respect to the ADSs being taken into account in an applicable financial statement;
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●   persons who acquire ADSs pursuant to the exercise of an employee stock option or otherwise as compensation; or
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●   persons holding the ADSs in connection with a trade or business conducted outside the U.S.
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THE SUMMARY OF U.S. FEDERAL INCOME TAX CONSEQUENCES SET OUT BELOW IS FOR GENERAL INFORMATION ONLY. PROSPECT