Common use of Withholding of Compensation Clause in Contracts

Withholding of Compensation. The Company (or its successor) or the Acquirer may withhold from any payments under the Agreement and from any other amounts payable to the Executive by the Company (or its successor, as applicable) any amount required to satisfy the income and employment tax withholding obligations arising under applicable laws in respect of a Bonus Payment. Without limiting the forgoing, the Company (or its successor) or the Acquirer may, in its sole discretion, satisfy the tax withholding obligations by withholding from any securities otherwise issuable to the Executive pursuant to the Agreement a number of whole shares of such issuable capital stock having a fair market value as of the date of payment not in excess of the minimum amount of tax required to be withheld by law. The Executive is encouraged to contact his personal legal or tax advisors with respect to the benefits provided by the Agreement. Neither the Company nor any of its employees, directors officers or agents is authorized to provide any tax advice to the Executive with respect to the benefits provided under the Agreement.

Withholding of Compensation. The Company (or its successor) or the Acquirer may withhold from any payments under the Agreement and from any other amounts payable to the Executive Director by the Company (or its successor, as applicable) any amount required to satisfy the income and employment tax withholding obligations arising under applicable laws in respect of a Bonus Payment. Without limiting the forgoing, the Company (or its successor) or the Acquirer may, in its sole discretion, satisfy the tax withholding obligations by withholding from any securities otherwise issuable to the Executive Director pursuant to the Agreement a number of whole shares of such issuable capital stock having a fair market value as of the date of payment not in excess of the minimum amount of tax required to be withheld by law. The Executive Director is encouraged to contact his personal legal or tax advisors with respect to the benefits provided by the Agreement. Neither the Company nor any of its employees, directors directors, officers or agents is authorized to provide any tax advice to the Executive Director with respect to the benefits provided under the Agreement.