Common use of Amount of Tax Payment Clause in Contracts

Amount of Tax Payment. From the Company Contribution contributed to the Employee’s Account under 3, above, the Trustee will distribute to the Employee an amount sufficient to cover the Employee’s estimated income tax liability and any FICA tax liability resulting from Company Contributions made to the Employee’s Account each year under this Agreement. Consequently, the amount of the Company Contribution allocated to the Employee’s Account will be net of income and employment taxes. In addition, the Trustee will distribute to the Employee an amount sufficient to cover the Employee’s estimated income tax liability resulting from investment earnings on Company Contributions.