WITHHOLDING REQUIRED. Each Optionee shall, no later than the date as of which the value derived from Stock Options first becomes includable in the gross income of the Optionee for income tax purposes, pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to the Stock Options or their exercise. The obligations of the Company under the Plan shall be conditioned upon such payment or arrangements and the Optionee shall, to the extent permitted by law, have the right to request that the Company deduct any such taxes from any payment of any kind otherwise due to the Optionee.
Appears in 7 contracts
Samples: Option Agreement (Approved Financial Corp), Option Agreement (Approved Financial Corp), Option Agreement (Approved Financial Corp)
