Mandatory Withholding for Taxes. Grantee acknowledges and agrees that the Company shall deduct from the cash and/or shares of Common Stock otherwise payable or deliverable upon exercise of the Option an amount of cash and/or number of shares of Common Stock (valued at their Fair Market Value on the date of exercise) that is equal to the amount of all federal, state and local taxes required to be withheld by the Company upon such exercise, as determined by the Committee.
Appears in 6 contracts
Samples: Incentive Plan (Carrizo Oil & Gas Inc), Special Non Qualified Stock Option Agreement (Edge Petroleum Corp), Non Qualified Stock Option Agreement (Edge Petroleum Corp)
Mandatory Withholding for Taxes. Grantee acknowledges and agrees that the Company shall deduct from the cash and/or shares of Common Stock otherwise payable or deliverable upon exercise of the Option Award an amount of cash and/or number of shares of Common Stock (valued at their Fair Market Value on the date of exercise) that is equal to the minimum statutory amount of all federalFederal, state and local taxes required to be withheld by the Company upon such exercise, as determined by the CommitteeCompany.
Appears in 2 contracts
Samples: 1998 Incentive Plan (Lennox International Inc), 1998 Incentive (Lennox International Inc)
