Income and Employment Taxes. Executives agrees that Executive will be responsible for any applicable taxes of any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder, that Executive’s receipt of any benefit hereunder is conditioned on Executive’s satisfaction of any applicable withholding or similar obligations that apply to such benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply.
Income and Employment Taxes. All amounts paid or provided under this Agreement shall be net of required withholdings, and Executive shall be responsible for any additional taxes of any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder. Executive’s receipt of any benefit hereunder is conditioned on his or her satisfaction of any applicable withholding or similar obligations that apply to such benefit and any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply.
Income and Employment Taxes. Employees agrees that he/she shall be responsible for any applicable taxes of any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder, that his/her receipt of any benefit hereunder is conditioned on his/her satisfaction of any applicable withholding or similar obligations that apply to such benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply.
Income and Employment Taxes. Employees agrees that he shall be responsible for any applicable taxes of any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder, that his receipt of any benefit hereunder is conditioned on his satisfaction of any applicable withholding or similar obligations that apply to such benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment, he is a “specified employee” as defined in Code Section 409A, and one or more of the payments or benefits received or to be received by Employee pursuant to this Agreement would constitute deferred compensation subject to Code Section 409A, no such payment or benefit will be provided under the Agreement until the earliest of (A) the date which is six (6) months after Employee’s “separation from service” for any reason, other than death or “disability” (as such terms are used in Section 409A(a)(2) of the Code), (B) the date of Employee’s death or “disability” (as such term is used in Section 409A(a)(2)(C) of the Code), or (C) the effective date of a “change in the ownership or effective control” or a “change in ownership of a substantial portion of the assets” of the Company (as such terms are used in Section 409A(a)(2)(A)(v) of the Code). The provisions of this Section 5(a) shall only apply to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Code Section 409A or any regulations or Treasury guidance promulgated thereunder. In addition, if any provision of the Agreement would cause Employee to incur any penalty tax or interest under Code Section 409A or any regulations or Treasury guidance promulgated thereunder, the Company may reform such provision to maintain to the maximum extent practicable in accordance with the original intent of the applicable provision without violating the provisions of Code Section 409A, including without limitation to limit payment or distribution of any amount of benefit hereunder in connection with a change of control to a transaction meeting the definitions referred to in clause (C) above, or in connection with a disability as referred to in (B) above.
Income and Employment Taxes. Employee shall be an employee of Employer for all purposes. Employer shall withhold amounts from Employee’s compensation in accordance with the requirements of applicable law for federal and state income tax, FICA, FUTA, and other employment or payroll tax purposes. It shall be Employee’s responsibility to report and pay all federal, state, and local taxes arising from Employee’s receipt of compensation hereunder.
Income and Employment Taxes. (a) Grantee shall be liable for any and all income taxes arising out of the grant, the vesting or a payment in settlement of Restricted Stock Units hereunder. The Company shall have the power and the right to deduct or withhold, or require Grantee to remit to the Company, the minimum statutory amount to satisfy federal, state and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Agreement. The Committee may, in its sole discretion, permit Grantee to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a value on the date the tax is to be determined equal to the minimum statutory total tax that could be imposed on the transaction. If permitted by the Committee, any election by Xxxxxxx related to share withholding shall be irrevocable, made in writing and signed by Xxxxxxx, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate.
Income and Employment Taxes. All payments and benefits under this Agreement, whether paid in cash, or shares of Belk stock, are subject to any applicable employment, withholding or similar tax or deduction. This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) or an exemption to Section 409A (including the short-term deferral exemption) and shall be interpreted accordingly. Belk makes no assurances with respect to the tax treatment of any payments or benefits payable under this Agreement, including without limitation under the Code, other federal laws, or state or local tax laws.
Income and Employment Taxes. You agree that you shall be responsible for any applicable taxes of any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder, that your receipt of any benefit hereunder is conditioned on your satisfaction of any applicable withholding or similar obligations that apply to such benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply.
Income and Employment Taxes. Consultant shall be solely responsible for payments and reporting of all taxes on compensation in whatever form paid hereunder, in accordance with the requirements of applicable law.
Income and Employment Taxes. To the extent that applicable laws or regulations, including the provisions of Subtitle C, Employment Taxes, of Title 26 of the United States Code, or any other comparable laws of any country, state or other governmental authority, as they may be amended from time to time, require (1) that any points awarded to, or merchandise or other awards redeemed by, a Participant in connection with this Agreement, or the value thereof, be reported to the Internal Revenue Service or any other governmental authority, or (2) that any taxes be paid or amounts withheld in connection with the award of points or the redemption of merchandise or other awards in connections with this Agreement, Client shall perform all such reporting, and withholding and make all such payments, in a timely manner.
