Common use of Income Tax Clause in Contracts

Income Tax. Notwithstanding the foregoing, income tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "Salary Formula" Sections (ii) and (iv), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board shall be based on the amount actually paid to the employee.

Income Tax. Notwithstanding the foregoing, income tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "Salary Wage Formula" Sections (ii) and (iv), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board shall be based on the amount actually paid to the employee.

Income Tax. Notwithstanding the foregoing, income tax Income Tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "“Salary Formula" Sections ” sections (iib) and (ivd), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board shall be based on the amount actually paid to the employee.

Income Tax. Notwithstanding the foregoing, income tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "Salary Formula" Sections (ii) and (iv), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board Employer shall be based on the amount actually paid to the employee.

Income Tax. Notwithstanding the foregoing, income tax Income Tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "Salary Formula" Sections (ii) sections and (iv), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board shall be based on the amount actually paid to the employee.

Income Tax. Notwithstanding the foregoing, income tax Income Tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "Salary Formula" Sections sections (iib) and (ivd), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board shall be based on the amount actually paid to the employee.