Common use of Withholding Obligations Clause in Contracts

Withholding Obligations. At the time this Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code), including the Shares deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, and foreign tax withholding obligations of the Company or a Related Entity (if any) which arise in connection with this Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares otherwise deliverable to the Participant pursuant to this Award a number of whole Shares having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Shares, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares from this Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity are satisfied, the Company shall have no obligation to issue a certificate for such Shares.

Appears in 16 contracts

Samples: Performance Stock Unit Award Agreement (Smith & Wesson Brands, Inc.), Restricted Stock Unit Award Agreement (Smith & Wesson Brands, Inc.), Performance Stock Unit Award Agreement (American Outdoor Brands, Inc.)

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Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, and foreign tax withholding obligations of the Company or a Related Entity (Entity, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Stock otherwise deliverable to the Participant pursuant to this the Award a number of whole Shares shares of Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesshares of Stock, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Stock withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Stock.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Smith & Wesson Holding Corp), Restricted Stock Unit Award Agreement (Smith & Wesson Holding Corp), Restricted Stock Unit Award Agreement (Smith & Wesson Holding Corp)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, and foreign tax withholding obligations of the Company or a Related Entity (Entity, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Stock otherwise deliverable to the Participant pursuant to this upon the vesting of the Award a number of whole Shares shares of Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesshares of Stock, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Stock withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Stock.

Appears in 3 contracts

Samples: Deferred Stock Unit Award Agreement (SYNAPTICS Inc), Restricted Stock Award Agreement (YouChange Holdings Corp), Deferred Stock Award Agreement (Synaptics Inc)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Common Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (Affiliate, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Common Stock otherwise deliverable to Participant upon the Participant pursuant to this vesting of the Award a number of whole Shares shares of Common Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesshares of Common Stock, not in excess of the minimum amount of minimum tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Common Stock withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Common Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity Affiliate and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity Affiliate are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Common Stock.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Ixys Corp /De/), Restricted Stock Unit Award Agreement (Ixys Corp /De/)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the CompanyCompany (as such term is defined in Section 3 of the Plan), the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Common Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (as such term is defined in Section 3 of the Plan), if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Stock otherwise deliverable to the Participant pursuant to this the Award a number of whole Shares shares of Stock having a Fair Market Value, as determined by the Company as of the date of the Participant recognizes income with respect to those Sharesshares of Stock, not in excess of the minimum amount of tax required to be withheld by law (or such lower other amount as may be necessary to that would avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Common Stock withholding procedure shall be the Participant’s sole responsibility. In addition, the CompanyCompany (as such term is defined in Section 3 of the Plan), in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Common Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity (as such term is defined in the Plan) and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity (as such term is defined in Section 3 of the Plan) are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Stock.

Appears in 1 contract

Samples: Restricted Stock Unit Grant (Marinemax Inc)

Withholding Obligations. (a) At the time this Award is grantedyou become entitled to receive a distribution of shares of Common Stock pursuant to your Award, or at any time thereafter as requested by the Company, you hereby authorize the Participant delivery of such shares to the Designated Broker (as defined in Section 5) with instructions to (i) sell shares sufficient to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection with such distribution, and (ii) remit the proceeds of such sale to the Company. In the event the sale proceeds are insufficient to fully satisfy the tax withholding obligations, you hereby authorizes authorize withholding from payroll and any other amounts payable to you, in the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code), including the Shares deliverable pursuant to this Awardsame calendar year, and otherwise agrees agree to make adequate provision for, for any sums required to satisfy the minimum federal, state, local, and foreign tax withholding obligations of obligations. (b) Upon your request and subject to approval by the Company or a Related Entity (if any) which arise in connection with this Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, the Company may withhold from fully vested Shares shares of Common Stock otherwise deliverable issuable to the Participant you pursuant to this your Award a number of whole Shares shares of Common Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesof distribution, not in excess of the minimum amount of tax required to be withheld by law (or such lower lesser amount as may be necessary to avoid adverse financial accounting treatmentvariable award accounting). Any adverse consequences to the Participant arising in connection with such Share withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker . (determined by the Companyc) to sell sufficient Shares from this Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or and/or any Related Entity Affiliate thereof are satisfied, the Company shall have no obligation to issue a certificate for such Sharesdeliver any shares of Common Stock on your behalf pursuant to your Award.

Appears in 1 contract

Samples: Stock Unit Award Agreement (America West Airlines Inc)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (Entity, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Stock otherwise deliverable to the Participant pursuant to this the Award a number of whole Shares shares of Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesshares of Stock, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Stock withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Stock.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Smith & Wesson Holding Corp)

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Withholding Obligations. (a) At any time that all or any portion of your Award vests (including the time this your Award is grantedmade, if any portion thereof is immediately vested), or at any time thereafter as requested by the Company, you hereby authorize the Participant hereby authorizes withholding from payroll and any other amounts payable Company to withhold the Participant (other than any amount constituting nonqualified deferred compensation within the meaning number of Section 409A of the Code), including the Shares deliverable pursuant shares otherwise issuable to this Award, and otherwise agrees you under your Award necessary to make adequate provision for, for any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (an Affiliate, if any) , which arise in connection with this your Award. The Company; provided, in its sole discretionhowever, and in compliance that no shares of Common Stock shall be withheld with any applicable legal conditions or restrictions, may withhold from fully vested Shares otherwise deliverable to a value exceeding the Participant pursuant to this Award a number of whole Shares having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Shares, not in excess of the minimum amount of tax required to be withheld by law (or law. Notwithstanding the foregoing, no shares shall be so withheld from your Award if you timely notify the Company in writing of your election to satisfy such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences withholding obligations in cash and you timely tender a cash payment to the Participant arising Company equal to the amount of tax required to be withheld by law, each in connection accordance with such Share withholding procedure shall be the Participant’s sole responsibility. In addition, the Company’s then applicable tax withholding notice and cash payment policies. You hereby acknowledge that the Company may require you to reimburse it for your share of any tax liability due, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by and that such reimbursement obligation shall arise immediately upon the Company’s request. (b) to sell sufficient Shares from this Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or and/or any Related Entity Affiliate are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares or release such shares from any escrow provided for herein.

Appears in 1 contract

Samples: Stock Bonus Agreement (Raindance Communications Inc)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Common Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (Company, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Common Stock otherwise deliverable to the Participant pursuant to this upon the vesting of the Award a number of whole Shares shares of Common Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesshares of Common Stock, not in excess of the minimum amount of minimum tax required to be withheld by applicable law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Common Stock withholding procedure shall be the Participant’s sole responsibility. In addition, subject to the terms of the Agreement, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Common Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity Company and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity Company are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Common Stock.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Image Entertainment Inc)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (Entity, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares otherwise deliverable to Participant upon the Participant pursuant to this vesting of the Award a number of whole Shares having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Shares, not in excess of the minimum amount of minimum tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Stock withholding procedure shall be the Participant’s sole responsibility. In addition, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares from this the Award to cover the tax withholding obligations of the Company or any Related Entity and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity are satisfied, the Company shall have no obligation to issue a certificate for such Shares.

Appears in 1 contract

Samples: Stock Unit Award Agreement (Gametech International Inc)

Withholding Obligations. At the time this the Award is granted, or at any time thereafter as requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant (other than any amount constituting nonqualified deferred compensation within the meaning of Section 409A of the Code)Participant, including the Shares shares of Common Stock deliverable pursuant to this Award, and otherwise agrees to make adequate provision for, any sums required to satisfy the minimum federal, state, local, local and foreign tax withholding obligations of the Company or a Related Entity (an Affiliate, if any) , which arise in connection with this the Award. The Company, in its sole discretion, and in compliance with any applicable legal conditions or restrictions, may withhold from fully vested Shares shares of Common Stock otherwise deliverable to the Participant pursuant to this upon the vesting of the Award a number of whole Shares shares of Common Stock having a Fair Market Value, as determined by the Company as of the date the Participant recognizes income with respect to those Sharesshares of Common Stock, not in excess of the minimum amount of minimum tax required to be withheld by law (or such lower amount as may be necessary to avoid adverse financial accounting treatment). Any adverse consequences to the Participant arising in connection with such Share Common Stock withholding procedure shall be the Participant’s sole responsibility. In addition, subject to the terms of the Agreement, the Company, in its sole discretion, may establish a procedure whereby the Participant may make an irrevocable election to direct a broker (determined by the Company) to sell sufficient Shares shares of Common Stock from this the Award to cover the tax withholding obligations of the Company or any Related Entity Affiliate and deliver such proceeds to the Company. Unless the tax withholding obligations of the Company or any Related Entity Affiliate are satisfied, the Company shall have no obligation to issue a certificate for such Sharesshares of Common Stock.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Image Entertainment Inc)

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