Common use of WITHHOLDING AND SETOFF Clause in Contracts

WITHHOLDING AND SETOFF. The Company shall withhold from Compensation all federal, state and local taxes or other governmental obligations which Company is compelled to deduct by law with respect to the Employee. The Company may deduct from Compensation such other amounts which the Employee may owe the Company in connection with this Agreement or the Employee's employment; PROVIDED THAT, the Employee has explicitly authorized such deduction in writing in advance in each instance or has agreed to participate in a benefit plan requiring a contribution from the Employee.