Common use of Mandatory Withholding for Taxes Clause in Contracts

Mandatory Withholding for Taxes. It shall be a condition precedent to any exercise of the Series A Stock Option Shares or the Series A Stock Tandem SARs that Grantee make provision acceptable to the Company for the payment or withholding of any and all federal, state and local taxes and other amounts required to be withheld by the Company to satisfy the tax liability associated with such exercise, as determined by the Board.

Mandatory Withholding for Taxes. It shall be a condition precedent to any exercise of the Series A Stock Option Shares or the Series A Stock Tandem SARs that Grantee make provision acceptable to the Company and in accordance with the Plan for the payment or withholding of any and all federal, state and local taxes and other amounts required to be withheld by the Company to satisfy the tax liability associated with such exercise, as determined by the Board.