Common use of Payment of Applicable Taxes Clause in Contracts

Payment of Applicable Taxes. No shares shall be delivered upon exercise of the Option until any taxes payable with respect to the exercise of the Option have been withheld by the Company or paid by Employee. Employee may use Common Shares to pay the Company all or any part of the mandatory federal, state or local withholding tax payments at the time of exercise of the Option by following any of the methods of payment set forth in Section 1.3(b) for use in connection with payment of the exercise price of the Option.