Common use of TAX AND WITHHOLDING Clause in Contracts

TAX AND WITHHOLDING. Any federal, state and/or local income, personal property, franchise, excise or other taxes owed by Xx. Xxxxx as a result of the payments or benefits provided under the terms of this Agreement shall be the sole responsibility and obligation of Xx. Xxxxx. The parties hereto agree and acknowledge that the Company shall have the right to withhold from any payments made to Xx. Xxxxx any and all amounts that are necessary to enable the Company to satisfy any withholding or other tax obligation that arises in connection with such payments or benefits, and the Company shall report any such amounts that it determines are compensation income on Form W-2.

TAX AND WITHHOLDING. Any federal, state and/or local income, personal property, franchise, excise or other taxes owed by Xx. Xxxxx Xxxxxxxx as a result of the payments or benefits provided under the terms of this Agreement shall be the sole responsibility and obligation of Xx. XxxxxXxxxxxxx. The parties hereto agree and acknowledge that the Company shall have the right to withhold from any payments made to Xx. Xxxxx Xxxxxxxx any and all amounts that are necessary to enable the Company to satisfy any withholding or other tax obligation that arises in connection with such payments or benefits, and the Company shall report any such amounts that it determines are compensation income on Form W-2.