Tax Withholding Requirement. The Board may require the Optionee, in the Optionee's Stock Option Agreement, to agree to remit to the Bank Holding Company any amount of federal, state or local taxes required to be withheld by the Bank Holding Company in connection with the issuance of the Shares.
Tax Withholding Requirement. Prior to the delivery of any Shares pursuant to the exercise of an Option, the Company will have the power and the right to deduct or withhold, or require a U.S. Participant to remit to the Company, an amount sufficient to satisfy U.S. federal, state, local, foreign or other taxes (including the U.S. Participant’s FICA obligation) required to be withheld with respect to such Option.
Tax Withholding Requirement. The Optionee understands and acknowledges that, prior to or after issuing Shares upon the exercise of an Option, the Bank Holding Company has the right to withhold and deduct any taxes required to be withheld by the Bank Holding Company under any federal, state or local law (the "TAXES"). At its option, the Bank Holding Company may withhold such taxes by withholding additional amounts from the salary of the Optionee or by reducing the number of shares delivered to the Optionee hereunder. To the extent the Bank Holding Company is unable to withhold and/or deduct any Taxes, the Optionee shall, upon notice from the Bank Holding Company, remit to the Bank Holding Company on demand the amount of such Taxes. FIRST INTERNATIONAL BANCORP, INC. By: /s/ Leslie A. Galbraith Leslie A. Galbraith Its Executive Vice President Agreed to and accepted this 6th day of May, 1998. Optionee acknowledges receipt of a copy of the Plan, a copy of which is annexed hereto, and represents that Optionee is familiar with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board of Directors of the Bank Holding Company upon any questions arising under the Plan. By: /s/ Arnold Chase Arnold Chase FIRST INTERNATIONAL BANCORP, INC. AMENDED AND RESTATED 1996 STOCK OPTION PLANS
Tax Withholding Requirement. The amounts paid by the Bank to you hereunder will have withheld and deducted therefrom any taxes required to be withheld by the Bank under any federal, state or local law.
Tax Withholding Requirement. Prior to the delivery of any Plan Shares pursuant to the exercise of an Option or pursuant to any other Award, the Company will have the power and the right to deduct or withhold, or require a U.S. Participant to remit to the Company, an amount sufficient to satisfy U.S. federal, state, local, non-U.S. or other taxes required to be withheld with respect to such Award.
Tax Withholding Requirement. The Optionee understands and acknowledges that, prior to or after issuing shares upon the exercise of an Option, the Company has the right to withhold and deduct any taxes required to be withheld by the Company under any federal, state or local law (the "TAXES"). At its option, the Company may withhold such taxes by withholding additional amounts from any fee or other compensation payable by the Company to the Optionee or by reducing the number of shares delivered to the Optionee hereunder. To the extent that the Company is unable to withhold and/or deduct any Taxes, the Optionee shall, upon notice from the Company, remit to the Company on demand the amount of such Taxes.
Tax Withholding Requirement. In the event that any federal, state, or --------------------------- local income taxes, [employment taxes], Federal Insurance Contributions Act, withholdings or other amounts are required by applicable law or governmental regulation to be withheld from the Optionee's salary, wages or other renumeration in connection with the exercise of an Option, the Optionee shall advance in cash to the Corporation or its Subsidiaries the amount of such withholdings unless a different withholding arrangement, including the use of Common Stock, is authorized by the Administrator (and permitted by law); provided, however, that with respect to Optionee subject to Section 16 of the 1934 Act, any such withholding arrangement shall be in compliance with any applicable provisions of Rule 16b-3 promulgated under Section 16 of the 1934 Act. For purposes hereof, the value of the shares withheld [for purposes of payroll withholding] shall be the Per Share Value thereof, as of the most recent practicable date prior to the date of exercise. If the Per Share Value of the shares withheld is less than the amount [of payroll withholdings] required, the Optionee may be required to advance the difference in cash to the Corporation or its Subsidiaries. The Administrator in its discretion may condition the exercise of an Option for less than the then Per Share Value on the Optionee's payment of such additional withholding [amounts].
