Common use of Withholding in Shares or Cash Clause in Contracts

Withholding in Shares or Cash. Prior to the issuance of shares of Common Stock upon the exercise of the Option, if the Optionee’s country of residence (and/or the country of employment, if different) requires withholding of Tax-Related Items, the Company may withhold a number of whole shares of Common Stock otherwise issuable to the Optionee upon exercise of the Option to satisfy all or any portion of any withholding obligations for Tax-Related Items. The number of whole shares of Common Stock withheld shall have an aggregate market value sufficient to pay the Tax-Related Items required to be withheld with respect to the shares of Common Stock. The cash equivalent of the shares of Common Stock withheld will be used to settle the obligation to withhold the Tax-Related Items. In the event that withholding in shares of Common Stock is prohibited or problematic under applicable laws or otherwise may trigger adverse consequences to the Company or the Employer, the Company or the Employer may withhold the Tax-Related Items required to be withheld in cash from the Optionee’s regular salary and/or wages or any other amounts payable to the Optionee. In the event the withholding requirements for Tax-Related Items are not satisfied through the withholding of shares of Common Stock or through the Optionee’s regular salary and/or wages or other amounts payable to the Optionee, no shares of Common Stock will be issued to the Optionee (or the Optionee’s estate) upon exercise of the Option unless and until satisfactory arrangements (as determined by the Company) have been made by the Optionee with respect to the payment of any Tax-Related Items that the Company or the Employer determines, in its sole discretion, must be withheld or collected with respect to such portion of the Option. By accepting this Option, the Optionee expressly consents to the withholding of shares of Common Stock and/or withholding from the Optionee’s regular salary and/or wages or other amounts payable to the Optionee as provided for hereunder. All other Tax-Related Items related to the Option and any shares of Common Stock issued in settlement thereof shall be the Optionee’s sole responsibility. Depending on the withholding method, the Company or the Employer may withhold or account for Tax-Related Items by considering applicable statutory withholding rates or other applicable withholding rates, including maximum applicable rates. If the withholding obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, the Optionee shall be deemed to have been issued the full number of shares of Common Stock subject to the exercised portion of the Option, notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items.

Appears in 5 contracts

Samples: Non Qualified Stock Option Award Agreement (Columbia Sportswear Co), 2020 Stock Incentive Plan (Columbia Sportswear Co), Award Agreement (Columbia Sportswear Co)

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Withholding in Shares or Cash. Prior to the issuance of shares of Common Stock upon the exercise vesting of the OptionRSUs, if the OptioneeRecipient’s country of residence (and/or the country of employment, if different) requires withholding of Tax-Related Items, the Company may withhold a number of whole shares of Common Stock otherwise issuable to the Optionee upon exercise Recipient in settlement of the Option any vested RSUs to satisfy all or any portion of any withholding obligations for Tax-Related Items. The number of whole shares of Common Stock withheld shall have an aggregate market value sufficient to pay the Tax-Related Items required to be withheld with respect to the shares of Common Stock. The cash equivalent of the shares of Common Stock withheld will be used to settle the obligation to withhold the Tax-Related Items. In the event that withholding in shares of Common Stock is prohibited or problematic under applicable laws or otherwise may trigger adverse consequences to the Company or the Employer, the Company or the Employer may withhold the Tax-Related Items required to be withheld in cash from the OptioneeRecipient’s regular salary and/or wages or any other amounts payable to the OptioneeRecipient. In the event the withholding requirements for Tax-Related Items are not satisfied through the withholding of shares of Common Stock or through the OptioneeRecipient’s regular salary and/or wages or other amounts payable to the OptioneeRecipient, no shares of Common Stock will be issued to the Optionee Recipient (or the OptioneeRecipient’s estate) upon exercise vesting of the Option RSUs unless and until satisfactory arrangements (as determined by the Company) have been made by the Optionee Recipient with respect to the payment of any Tax-Related Items that the Company or the Employer determines, in its sole discretion, must be withheld or collected with respect to such portion of the OptionRSUs. By accepting this Optiongrant of RSUs, the Optionee Recipient expressly consents to the withholding of shares of Common Stock and/or withholding from the OptioneeRecipient’s regular salary and/or wages or other amounts payable to the Optionee Recipient as provided for hereunder. All other Tax-Related Items related to the Option RSUs and any shares of Common Stock issued in settlement thereof shall be the OptioneeRecipient’s sole responsibility. Depending on the withholding method, the Company or the Employer may withhold or account for Tax-Related Items by considering applicable statutory withholding rates or other applicable withholding rates, including maximum applicable rates. If the withholding obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, the Optionee Recipient shall be deemed to have been issued the full number of shares of Common Stock subject to the exercised portion of the Optionvested RSUs, notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items.

Appears in 4 contracts

Samples: 2020 Stock Incentive Plan (Columbia Sportswear Co), Award Agreement (Columbia Sportswear Co), Award Agreement (Columbia Sportswear Co)

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