Employer’s NICs Sample Clauses

Employer’s NICs. As a condition to participation in the Plan and the exercise of this Option, Optionee hereby agrees to accept all liability for and pay all secondary Class 1 National Insurance Contributions which would otherwise be payable by the Company (or any successor or any Parent or Subsidiary employing or previously employing Optionee) with respect to the exercise of the Option or any other event giving rise to taxation under the Option (the “Employer NIC”). Optionee agrees that Optionee will execute, within the time period specified by the Company, a joint election (the “Joint Election?) provided by the Company as approved by HM Revenue and Customs and any other consent or elections required to effect the transfer of the Employer NIC. Optionee further agrees to execute such other joint elections as may be required between Optionee and any successor to the Company and/or Optionee’s employer. Optionee further agrees that the Company and/or Optionee’s employer may collect the Employer NIC by any of the means set forth in the Joint Election.
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Employer’s NICs. As consideration of the grant of an Option under the Plan the Participant has joined with the Company, or if and to the extent that there is a change in the law, any other company or person who is or becomes a secondary contributor for NIC purposes in respect of this Option (the “Secondary Contributor”) in making an election (in such terms and such form as provided in paragraphs 3A and 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992) which has been approved by HM Revenue & Customs (the “Joint Election”), for the transfer of the whole or any liability of the Secondary Contributor to Employer’s Class 1 NICs to be transferred to the Participant.
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Employer’s NICs. The Employee may not exercise, assign, release or cancel the Options in any circumstances unless and until he has entered into a binding election (in a form acceptable to the Company and approved by the Inland Revenue) pursuant to which the Employee agrees to pay or assumes liability for any secondary (employer’s) Class 1 National Insurance contributions that may arise in respect of the Options.
Sample 1
Employer’s NICs. If the Company, and other Group Company or any other person is liable to account for Secondary Class 1 NICs (or such equivalent social security contributions in any other jurisdiction, as may be applicable) (Employers’ NICs) by virtue of the exercise of the Option the Directors may make it a condition of the exercise of the Option that the Optionholder either: (a) meets such liability to pay Employers’ NICs; or (b) enters into an election to transfer the liability for Employers’ NICs to the Optionholder in a form approved by HMRC (or by any other governmental taxation authority in any other jurisdiction, as may be applicable), and enters into such arrangements as may be approved by HMRC (or by any other governmental taxation authority in any other jurisdiction, as may be applicable) in order to ensure that the Employers’ NICs liability can be met.
Sample 1
Employer’s NICs. (a) The Optionee agrees that, and undertakes to the Company and his Employer that:- (i) the Optionee’s Employer may recover from the Optionee (in such manner as the Company may determine and notify to the Optionee at any time before the Option is exercised) the whole or any part of any Employer’s NICs payable in respect of any such Option Gain; and (ii) the Optionee shall join with his Employer in making an election (in such terms and such form as the Company may determine and is approved by the UK Inland Revenue) for the transfer to the Optionee of the whole, or such part as the Company may determine, of any liability of the Optionee’s Employer to Employer’s NICs on any such Option Gain; and (iii) on any occasion on which the Option is exercised or released after such an election has been made, the Optionee shall procure that any amount of Employer’s NICs for which the Optionee is liable is paid to the Optionee’s Employer in time to enable his Employer to remit such Employer’s NICs to the Collector of Taxes before the 14th day following the end of the Pay As You Earn month in which the Option is exercised or released. (b) The Optionee understands and accepts that the Company shall not be obliged to transfer title to any Shares upon the exercise of the Option unless and until the Optionee has paid, or procured the payment, to his Employer of such sum as, in the opinion of his Employer, is sufficient to satisfy the Optionee’s liability under the indemnity referred to in Section 14(c) above within such period as the Optionee’s Employer shall determine and notify to the Optionee. (c) The provisions of this Section 15 shall not have effect in relation to Employer’s NICs payable in respect of any gain realised upon the exercise or release of, or the acquisition of Shares pursuant to, the Option or any occasion if to do so would contravene the provisions of the UK Social Security Contributions and Benefits Xxx 0000 or of any regulations made under that Act.
Sample 1
Employer’s NICs. Participant is required to enter into a joint election with the Employer pursuant to which the whole of the liability of the Employer to secondary (class 1) NICs arising in relation to the Option (the NIC Liability) is transferred to Participant, as provided in paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992, in such form as the Company may reasonably require (the Joint Election). The Option may not be exercised before a Joint Election has been entered into by Participant in relation to it, and if Participant has not entered into such a Joint Election by the date reasonably required by the Company the Company may upon giving notice to Participant to that effect cause the Option to lapse. Participant shall pay the amount of the NIC Liability to the Company or the Employer to enable the Employer to account for the NIC Liability in accordance with the terms of Paragraph 7 and the Joint Election. AMECURRENT 731377676.2 15-Feb-19 10:35
Sample 1
Employer’s NICs. If the Company, and other Group Company or any other person is liable to account for Secondary Class 1 NICs (Employers’ NICs) by virtue of the exercise of the Option the Directors may make it a condition of the exercise of the Option that the Optionholder either: (a) meets such liability to pay Employers’ NICs; or (b) enters into an election to transfer the liability for Employers’ NICs to the Optionholder in a form approved by HMRC, and enters into such arrangements as may be approved by HMRC in order to ensure that the Employers’ NICs liability can be met. ​
Sample 1
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Related to Employer’s NICs

  • Employer’s Liability It is expressly agreed and understood that the Employer does not accept, nor is the Employer to be charged hereby with, any responsibility in any manner connected with the determination of liability to any employee claiming under any of the benefits extended by the Health and Welfare Fund. The Employer's liability shall be limited to the contributions indicated under Section 2 above.

  • The Employer This Agreement shall inure to the benefit of and be binding upon the Employer and its successors and assigns. The Bancorp and the Bank will each require any successor to it (whether direct or indirect, by stock or asset purchase, merger, consolidation or otherwise) or to all or substantially all of its business or assets to assume expressly and agree to perform this Agreement in the same manner and to the same extent it would be required to perform it if no such succession had taken place.

  • ' Compensation & Employer's Liability The Service Provider shall maintain during the life of this Agreement for all of the Service Provider's employees engaged in work performed under this agreement:

  • Related Employers If any member of the Employer's related group (as defined in Section 1.30 of the Plan) executes a Participation Agreement to this Adoption Agreement, such member's Employees are eligible to participate in this Plan, unless excluded by reason of an exclusion classification elected under this Adoption Agreement Section

  • Compensation and Employers Liability Insurance a. Statutory California Workers' Compensation coverage including broad form all-states coverage. b. Employer's Liability coverage for not less than one million dollars ($1,000,000) per occurrence.

  • Employer The term “

  • Employer’s Liability Insurance The Contractor shall also maintain Employer's Liability Insurance Coverage with limits of at least: (i) Bodily Injury by Accident $1,000,000 each accident; (ii) Bodily Injury by Disease $1,000,000 each employee; and (iii) Bodily Injury/Disease Aggregate $1,000,000 each accident. The Contractor shall require all Subcontractors performing work under this Contract to obtain an insurance certificate showing proof of Employers Liability Insurance Coverage and shall submit a certificate on the letterhead of the Contractor in the following language:

  • Policy Grievance – Employer Grievance The Employer may institute a grievance alleging a general misinterpretation or violation by the Union or any employee by filing a written grievance with the Bargaining Unit President, with a copy to the Labour Relations Officer within twenty (20) days after the circumstances have occurred. A meeting will be held between the parties within ten (10) days. The Union shall reply within ten (10) days after the meeting, and failing settlement, the matter may be referred to arbitration. (a) Where a difference arises between the parties relating to the interpretation, application or administration of this Agreement, including any questions as to whether a matter is arbitrable, or where an allegation is made that this Agreement has been violated, either of the parties may, after exhausting the grievance procedure established by this Agreement, notify the other party in writing of its decision to submit the difference or allegation to arbitration, and the notice shall contain the name of the first party's appointee to an Arbitration Board. The recipient of the notice shall, within ten (10) days, inform the other party of the name of its appointee to the Arbitration Board. The two appointees so selected shall within ten (10) days of the appointment of the second of them, appoint a third person who shall be the Chairperson. If the recipient of the notice fails to appoint a nominee, or if the two nominees fail to agree upon a Chairperson within the time limit, the appointment shall be made by the Minister of Labour for Ontario upon the request of either party. (b) Within thirty (30) calendar days of the receipt of notice referred to in Article 8.12(a) above, either party may require a process for a sole arbitrator where the grievance concerns: i) a job posting ii) a short term layoff

  • Workers’ Compensation/Employer’s Liability The Contractor shall have, maintain, and provide proof of Workers’ Compensation insurance.

  • Return of Employer's Property After Employee has received notice of termination or at the end of the term hereof, whichever first occurs, Employee shall promptly return to Employer all documents and other property in his possession belonging to Employer.

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