Common use of Election to Withhold Shares Clause in Contracts

Election to Withhold Shares. The Optionee may elect to satisfy the Companies’ income tax withholding obligation with respect to the Option by having Shares withheld up to an amount that does not exceed the Optionee’s minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in a form and manner prescribed by the Board.

Election to Withhold Shares. The Optionee may elect to satisfy the Companies’ ' income tax withholding obligation with respect to the Option by having Shares withheld up to an amount that does not exceed the Optionee’s 's minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in a form and manner prescribed by the Board.