Common use of Tax Withholdings and Payments Clause in Contracts

Tax Withholdings and Payments. a. The Company or any Subsidiary or Affiliate is authorized to withhold from any payment to be made to the Participant, amounts of income tax withholding and other taxes due in connection with the exercise of the Option. The Participant shall hold the Company harmless for any damages caused by his or her failure to so comply and for any other damages caused by his or her actions or inactions. b. The Participant may pay such withholding taxes in any method specified in Section 5 above. If the Participant does not satisfy the withholding obligation within a reasonable time established by the Committee, the Participant’s withholding obligation shall be satisfied by the Company’s withholding of Shares from the Shares that would otherwise be received upon exercise of the Option.

Tax Withholdings and Payments. a. (a) The Company or any Subsidiary or Affiliate is authorized to withhold from any payment to be made to the Participant, amounts of income tax withholding and other taxes due in connection with the exercise of the Option. The Participant shall hold the Company harmless for any damages caused by his or her failure to so comply and for any other damages caused by his or her actions or inactions. b. (b) The Participant may pay such withholding taxes in any method specified in Section 5 4 above. If the Participant does not satisfy the withholding obligation within a reasonable time established by the Committee, the Participant’s 's withholding obligation shall be satisfied by the Company’s 's withholding of Shares from the Shares that would otherwise be received upon exercise of the Option.