Satisfaction of Tax Withholding Obligations. (a) At the time of issuance of Shares to you pursuant to the settlement of this award (or earlier, if applicable), to the extent required by law or applicable regulation, the Company shall withhold from the Shares otherwise issuable to you a number of whole Shares having a Fair Market Value as of the Settlement Date, equal to the minimum amount of taxes required to be withheld by law. The Fair Market Value of the withheld whole number of Shares that is in excess of the minimum amount of taxes required to be withheld shall be added to the deposit for your U.S. federal income tax withholding or, if you are an international taxpayer, such amount shall be added to the largest deposit of withheld tax required to be made by the Company or a Subsidiary on your behalf.
Satisfaction of Tax Withholding Obligations. Each issuance of Restricted Shares under this Agreement shall be subject to withholding of all federal, state and local taxes of any kind required to be withheld with respect to such issuance. At the election of Galvxx, xxch withholding obligations may be satisfied through the surrender of common shares of the Company which Galvxx xxxeady owns, or the withholding of Restricted Shares which Galvxx xxxld otherwise be entitled to be issued under the terms of this Agreement. Any common shares delivered to the Company, or Restricted Shares withheld from issuance, in order to satisfy tax withholding obligations shall be valued based upon the Fair Market Value of the Company's common shares when the tax withholding is required to be made. For purposes of this Agreement, the "Fair Market Value" of the Company's common shares on a particular date shall be the closing sale price for the Company's common shares as reported on any securities exchange on which the Company's common shares may be listed on such date, or if no such sale occurred on that date, then for the next preceding date on which a sale was made. If the common shares should no longer be listed on a securities exchange, the Fair Market Value shall be determined by the Compensation Committee of the Company's Board of Directors or any committee performing similar functions.
Satisfaction of Tax Withholding Obligations. (a) At the time of the vesting of your DPUs as provided for in Paragraph 2 above, to the extent the Company or Subsidiary is required by law or applicable regulation to withhold and remit any tax on your behalf, whether representing payroll tax, income tax or other personal tax obligation, the Company or Subsidiary shall have the right to collect, directly from you or from other compensation amounts due to you from the Company or Subsidiary, amounts required to satisfy such tax withholding obligations. To the extent permitted by law or applicable regulation, the Company or Subsidiary may satisfy such withholding obligations at such time after the end of the Measurement Year and within the same calendar year as may be administratively convenient, such as the date you receive other incentive cash compensation under the Company’s performance incentive compensation programs.
