Common use of Withholding Procedure Clause in Contracts

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive of the Withholding Amount, and Executive shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such payment, the Executive may pay the Withholding Amount by either (i) delivering to the Company a number of units of Preferred Units having an aggregate Liquidation Value as of the Measurement Date not less than the Withholding Amount, or (ii) directing the Company to withhold and not deliver or issue to the Executive a number of units of Preferred Units, otherwise issuable upon the exercise of the Option, having an aggregate Liquidation Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive may elect pursuant to the prior sentence to deliver or direct the withholding of units of Preferred Units having an aggregate Liquidation Value in excess of the minimum Withholding Amount but not in excess of the Executive's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such Executive. Any fractional interests resulting from the delivery or withholding of units of Preferred Units to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units of Preferred Units delivered to or withheld by the Company pursuant to this Section 6 shall be deposited in accordance with applicable law by the Company as withholding tax for Executive's account. If the treasurer or other appropriate officer of the Company determines that no withholding tax is required with respect to the exercise of any Option, but it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units or otherwise), Executive shall promptly, upon being notified of the withholding requirement, pay to the Company (by means acceptable to the Company) the amount required to be withheld, and the Company may, at its election, condition any transfer of Option Units issued upon exercise of the Option upon receipt of such payment.

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive the Optionee of the Withholding Amount, and Executive the Optionee shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such payment, the Executive Optionee may pay the Withholding Amount by either (i) delivering to the Company a number of units shares of Preferred Units Common Stock having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount, or (ii) directing the Company to withhold and not deliver or issue to the Executive Optionee a number of units shares of Preferred UnitsCommon Stock, otherwise issuable upon the exercise of the Option, having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive may elect pursuant to the prior sentence to deliver or direct the withholding of units of Preferred Units having an aggregate Liquidation Value in excess of the minimum Withholding Amount but not in excess of the Executive's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such Executive. Any fractional interests resulting from the delivery or withholding of units shares of Preferred Units Common Stock to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units shares of Preferred Units Common Stock delivered to or withheld by the Company pursuant to this Section 6 8 shall be deposited in accordance with applicable law by the Company as withholding tax for Executivethe Optionee's account. If the treasurer Chief Financial Officer or other appropriate officer of the Company determines that no withholding tax is required with respect to the exercise of any Option, but it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units Shares or otherwise), Executive the Optionee shall promptly, upon being notified of the withholding requirement, pay to the Company (by means acceptable to the Company) the amount required to be withheld, and the Company may, at its election, condition any transfer of Option Units Shares issued upon exercise of the Option upon receipt of such payment.

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive of the Withholding Amount, and Executive shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such payment, the Executive may pay the Withholding Amount by either (i) delivering to the Company a number of units of Preferred Units Class C Common having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount, or (ii) directing the Company to withhold and not deliver or issue to the Executive a number of units of Preferred UnitsClass C Common, otherwise issuable upon the exercise of the Option, having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive may elect pursuant to the prior sentence to deliver or direct the withholding of units of Preferred Units Class C Common having an aggregate Liquidation Fair Market Value in excess of the minimum Withholding Amount but not in excess of the Executive's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such Executive. Any fractional interests resulting from the delivery or withholding of units of Preferred Units Class C Common to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units of Preferred Units Class C Common delivered to or withheld by the Company pursuant to this Section 6 shall be deposited in accordance with applicable law by the Company as withholding tax for Executive's account. If the treasurer or other appropriate officer of the Company determines that no withholding tax is required with respect to the exercise of any Option, but it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units or otherwise), Executive shall promptly, upon being notified of the withholding requirement, pay to the Company (by means acceptable to the Company) the amount required to be withheld, and the Company may, at its election, condition any transfer of Option Units issued upon exercise of the Option upon receipt of such payment.

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive Grantee of the Withholding Amount, and Executive Grantee shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such payment, the Executive Grantee may pay the Withholding Amount by either (i) delivering to the Company a number of units of Preferred Units Class A Common having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount, or (ii) directing the Company to withhold and not deliver or issue to the Executive Grantee a number of units of Preferred UnitsClass A Common, otherwise issuable upon the exercise of the Option, having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive Grantee may elect pursuant to the prior sentence to deliver or direct the withholding of units of Preferred Units Class A Common having an aggregate Liquidation Fair Market Value in excess of the minimum Withholding Amount but not in excess of the ExecutiveGrantee's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such ExecutiveGrantee. Any fractional interests resulting from the delivery or withholding of units of Preferred Units Class A Common to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units of Preferred Units Class A Common delivered to or withheld by the Company pursuant to this Section 6 4 shall be deposited in accordance with applicable law by the Company Company, as withholding tax for ExecutiveGrantee's account. If the treasurer Treasurer or other appropriate officer of the Company determines that no withholding tax is required with respect to the exercise of any Option, but it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units Shares or otherwise), Executive Grantee shall promptly, upon promptly required. Upon being notified of the withholding requirement, pay to the Company (by means acceptable to the Company) the amount required to be withheld, and the Company may, at its election, condition any transfer of Option Units Share, issued upon exercise of the Option upon receipt of such payment.

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive Grantee of the Withholding Amount, and Executive Grantee shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such payment, the Executive Grantee may pay the Withholding Amount by either (i) delivering to the Company a number of units of Preferred Units Class A Common having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount, or (ii) directing the Company to withhold and not deliver or issue to the Executive Grantee a number of units of Preferred UnitsClass A Common, otherwise issuable upon the exercise of the Option, having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive Grantee may elect pursuant to the prior sentence to deliver or direct the withholding of units of Preferred Units Class A Common having an aggregate Liquidation Fair Market Value in excess of the minimum Withholding Amount but not in excess of the ExecutiveGrantee's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such ExecutiveGrantee. Any fractional interests resulting from the delivery or withholding of units of Preferred Units Class A Common to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units of Preferred Units Class A Common delivered to or withheld by the Company pursuant to this Section 6 4 shall be deposited in accordance with applicable law by the Company as withholding tax for ExecutiveGrantee's account. If the treasurer Treasurer or other appropriate officer of the Company determines that no withholding tax is required with respect to the exercise of any Option, but it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units Shares or otherwise), Executive Grantee shall promptly, upon being notified of the withholding requirement, pay to the Company (by means acceptable to the Company) the amount required to be withheld, and the Company may, at its election, condition any transfer of Option Units Shares issued upon exercise of the Option upon receipt of such payment.

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive the Optionee of the Withholding Amount, and Executive the Optionee shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such payment, the Executive Optionee may pay the Withholding Amount by either (i) delivering to the Company a number of units shares of Preferred Units Common Stock having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount, or (ii) directing the Company to withhold and not deliver or issue to the Executive Optionee a number of units shares of Preferred UnitsCommon Stock, otherwise issuable upon the exercise of the Option, having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive may elect pursuant to the prior sentence to deliver or direct the withholding of units of Preferred Units having an aggregate Liquidation Value in excess of the minimum Withholding Amount but not in excess of the Executive's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such Executive. Any fractional interests resulting from the delivery or withholding of units shares of Preferred Units Common Stock to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units shares of Preferred Units Common Stock delivered to or withheld by the Company pursuant to this Section 6 8 shall be deposited in accordance with applicable law by the Company as withholding tax for Executivethe Optionee's account. If the treasurer or other appropriate officer Company, upon advice of the Company its Chief Financial Officer, determines that no withholding tax is required with respect to the exercise of any Option, but it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units Shares or otherwise), Executive the Optionee shall promptly, upon being notified of the withholding requirement, pay to the Company (by means acceptable to the Company) the amount required to be withheld, and the Company may, at its election, condition any transfer of Option Units Shares issued upon exercise of the Option upon receipt of such payment.

Withholding Procedure. If the Company determines that withholding tax is required with respect to any Option exercise, the Company shall notify Executive the Participant of the Withholding Amount, and Executive the Participant shall pay to the Company an amount not less than the Withholding Amount. In lieu of making such paymentpayment and at the discretion of the Company, the Executive Participant may elect to pay the Withholding Amount by either (i) delivering to the Company a number of units shares of Preferred Units Common Stock having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount, Amount or (ii) directing the Company to withhold (and not to deliver or issue to the Executive Participant) a number of units shares of Preferred UnitsCommon Stock, otherwise issuable upon the exercise of the an Option, having an aggregate Liquidation Fair Market Value as of the Measurement Date not less than the Withholding Amount. In addition, if the Committee approves, the Executive a Participant may elect pursuant to the prior sentence to deliver or direct the withholding of units shares of Preferred Units Common Stock having an aggregate Liquidation Fair Market Value in excess of the minimum Withholding Amount but not in excess of the ExecutiveParticipant's applicable highest marginal combined federal income and state income tax rate, as estimated in good faith by such ExecutiveParticipant. Any fractional share interests resulting from the delivery or withholding of units shares of Preferred Units Common Stock to meet withholding tax requirements shall be settled in cash. All amounts paid to or withheld by the Company and the value of all units shares of Preferred Units Common Stock delivered to or withheld by the Company pursuant to this Section 6 5.4 shall be deposited in accordance with applicable law by the Company as withholding tax for Executivethe Participant's account. If the treasurer Treasurer or other appropriate officer of the Company determines that no withholding tax is required with respect to the exercise of any OptionOption (because such option is an incentive stock option or otherwise), but subsequently it is determined subsequently that the exercise resulted in taxable income as to which withholding is required (as a result of a disposition of the Option Units shares or otherwise), Executive the Participant shall promptly, upon being notified of the withholding requirement, pay to the Company (Company, by means acceptable to the Company) , the amount required to be withheld, ; and at its election the Company may, at its election, may condition any the transfer of Option Units any shares issued upon exercise of the Option an incentive stock option upon receipt of such payment.