Tax Withholding Requirement Sample Clauses

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.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
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.
Sample 1Sample 2Sample 3See All (4)
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/ Lxxxxx X. Xxxxxxxxx Lxxxxx X. Xxxxxxxxx Its Executive Vice President Agreed to and accepted this 7th 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/ Cxxxxx X. Xxxxx Cxxxxx Xxxxx FIRST INTERNATIONAL BANCORP, INC. AMENDED AND RESTATED 1996 STOCK OPTION PLANS 1. Purpose of the Plan. The purpose of the 1996 Stock Option Plans is to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to certain key Directors and officers of FIRST INTERNATIONAL BANCORP, INC. and any subsidiaries which FIRST INTERNATIONAL BANCORP, INC. presently owns or controls or may hereafter organize or acquire, and to promote the success of the business.
Sample 1See All (4)
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.
Sample 1Sample 2
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.
Sample 1Sample 2
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].
Sample 1
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.
Sample 1
AutoNDA by SimpleDocs

Related to Tax Withholding Requirement

  • Withholding Requirements In the event that any jurisdiction imposes any withholding or other tax on any payment made by Xxxxxxx Mac (or its agent, the Exchange Administrator, or any other person potentially required to withhold) with respect to a Note, Xxxxxxx Mac (or its agent, the Exchange Administrator, or such other person) will deduct the amount required to be withheld from such payment, and Xxxxxxx Mac (or its agent, the Exchange Administrator, or such other person) will not be required to pay additional interest or other amounts, or redeem or repay the Notes prior to the Maturity Date, as a result.

  • Xxx Withholding Notwithstanding any other provision of this Agreement, the Company may withhold from amounts payable under this Agreement all federal, state, local and foreign taxes that are required to be withheld by applicable laws or regulations.

  • Tax Withholding The Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.

  • Tax Withholdings The Company shall withhold from all payments hereunder all applicable taxes that it is required to withhold with respect to payments and benefits provided under this Agreement.

  • Compliance with Withholding Requirements Notwithstanding any other provision of this Agreement, the Trustee shall comply with all federal withholding requirements respecting payments to Certificateholders of interest or original issue discount that the Trustee reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for such withholding. In the event the Trustee does withhold any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements, the Trustee shall indicate the amount withheld to such Certificateholders.

  • Tax Withholding Obligations (a) The Grantee agrees as a condition of this grant to make acceptable arrangements to pay any withholding or other taxes that may be due as a result of vesting in Performance Stock Units or the Grantee’s acquisition of Shares under this grant. In the event that the Company determines that any tax or withholding payment is required relating to this grant under applicable laws, the Company will have the right to: (i) require that the Grantee arrange such payments to the Company, or (ii) cause an immediate forfeiture of Shares subject to the Performance Stock Units granted pursuant to this Agreement with a Fair Market Value on the date of forfeiture equal to the withholding or other taxes due. In addition, in the Company’s sole discretion and consistent with the Company’s rules (including, but not limited to, compliance with the Company’s Policy on Inside Information and Xxxxxxx Xxxxxxx) and regulations, the Company may permit the Grantee to pay the withholding or other taxes due as a result of the vesting of the Grantee’s Performance Stock Units by delivery (on a form acceptable to the Committee or Company) of an irrevocable direction to a licensed securities broker selected by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company in payment of the withholding or other taxes. If the Grantee delivers to the Company Shares already owned by the Grantee as payment for any withholding or other tax obligations, (i) only a whole number of Shares (and not fractional Shares) may be delivered and (ii) Shares must be delivered to the Company free and clear of any liens of any kind. Delivery for this purpose may, at the election of the Grantee, be made either by (A) physical delivery of the certificate(s) for all such Shares tendered in payment of the withholding or other tax obligations, accompanied by duly executed instruments of transfer in a form acceptable to the Company, or (B) direction to the Grantee’s broker to transfer, by book entry, such Shares from a brokerage account of the Grantee to a brokerage account specified by the Company. If Shares are withheld from the Grantee to pay any withholding or other tax obligations, only a whole number of Shares (and not fractional shares) will be withheld in payment. (b) Tax consequences on the Grantee (including without limitation federal, state, local and foreign income tax consequences) with respect to the Performance Stock Units (including without limitation the grant, vesting and/or forfeiture thereof) are the sole responsibility of the Grantee. The Grantee shall consult with his or her own personal accountant(s) and/or tax advisor(s) regarding these matters and the Grantee’s filing, withholding and payment (or tax liability) obligations.

  • Withholding, Etc The payment of any Salary and bonus hereunder shall be subject to applicable withholding and payroll taxes, and such other deductions as may be required by law or the Company's employee benefit plans.

  • Income Tax Withholding You must indicate on distribution requests whether or not federal tax should be withheld. Distribution requests without a federal withholding statement require the Custodian to withhold federal tax in accordance with IRS regulations. State withholding may also apply for distribution requests received without a withholding statement.

  • Withholding Rights Each of the Surviving Corporation and Parent shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to this Agreement to any holder of Shares such amounts as it is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld by the Surviving Corporation or Parent, as the case may be, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the holder of the Shares in respect of which such deduction and withholding was made by the Surviving Corporation or Parent, as the case may be.

  • Tax Withholding and Reporting The Bank shall withhold any taxes that are required to be withheld, including but not limited to taxes owed under Code Section 409A from the benefits provided under this Agreement. The Executive acknowledges that the Bank’s sole liability regarding taxes is to forward any amounts withheld to the appropriate taxing authorities. The Bank shall satisfy all applicable reporting requirements, including those under Code Section 409A.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!