Payment of Exercise Price, Withholding Taxes and Reporting Clause Samples

Payment of Exercise Price, Withholding Taxes and Reporting. Upon the exercise of an Option on or after the IPO Closing Date, regardless of the holder thereof, the exercise price shall be paid to (or otherwise satisfied to the satisfaction of) Forest in accordance with the terms of the Option, and Forest shall be solely responsible for the issuance of Forest Common Stock, for ensuring the collection of the employee portion of all applicable withholding tax on behalf of the employing entity of such holder and for ensuring the remittance of such withholding taxes to the employing entity of such holder. Upon the exercise of an Option on or after the IPO Closing Date, regardless of the holder thereof, the most recent employer of the holder of the Option at the time of exercise (or his or her decedent, as applicable) shall be responsible for the satisfaction of all tax reporting requirements in respect of such exercise, shall be responsible for remitting the appropriate withholding amounts to the appropriate taxing authorities, and shall be entitled to the benefit of any tax deduction in respect of the exercise of all such Options.