Employee Tax Liability definition

Employee Tax Liability has the meaning set forth in Section 4.3 (Employee Liabilities).
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Employee Tax Liability means any income Tax and social security contributions payable by an Affected Employee or former employee of the Company and for which Buyer or the Company is liable to account in connection with an Incentive Award Payment to an Affected Employee or former employee of the Company pursuant to Section 5.3(e).
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Employee Tax Liability has the meaning given in paragraph 7.2 of Schedule 7.
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Examples of Employee Tax Liability in a sentence

  • The Buyer agrees that the Trustee Seller shall have no liability under this Agreement or otherwise for any amount in respect of the Employee Tax Liability not advised to it by the Company.

  • The Guarantors shall procure that the Employee Tax Liability and Other Transaction Bonus Liability is (where relevant) deducted from such payment of the Success Sharing Plan Milestone, Transaction Bonuses and that the Employee Tax Liability and the Other Transaction Bonus Liabilities are accounted for by the relevant member(s) of the Group to the relevant Tax Authority or other person or entity within the time limits required by law.

  • The Trustee Seller agrees and acknowledges that no payment pursuant to such apportionment and/or recommendation shall be made without agreement between the Trustee Seller and the Buyer and/or the relevant Target Group Company of the amount to be deducted from such payment to meet the relevant Employee Tax Liability as advised to it.

  • Buyer shall (x) pay, or shall cause the Company to pay, to such Affected Employee or former employee an amount equal to the Incentive Award Payment less the Employee Tax Liability and (y) timely make all required payments of the Employee Tax Liability and Employer Tax Liability to the applicable Taxing Authority.


More Definitions of Employee Tax Liability

Employee Tax Liability has the meaning set forth in Section 5.6(i).
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Employee Tax Liability means any unpaid liability of a Group Company to account for income tax under PAYE and/or national insurance contributions (employers and employees) which arises in the ordinary course of business of the Company after the Accounts Date and on or before the Completion Date, provided that any unpaid liability of a Group Company to account for income tax under PAYE and/or national insurance contributions (employers and employees) relating to the employment of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ from 4 January 2010 and 31 March 2010 shall not constitute an Employee Tax Liability for the purposes of this schedule 8;
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Employee Tax Liability has the meaning given in clause 6.4; “Employees” means the directors and officers (whether employed or not) and employees of the Target Group Companies; “Employer NICs” has the meaning given in clause 6.4; “Encumbrance” means any debenture, mortgage, charge, pledge, lien, deposit by way of security, restriction, assignment, hypothecation, security interest, or similar agreement, title retention or transfer or other security or preferential agreement or arrangement, but excluding any Permitted Encumbrance; “Engage in” means to carry on or otherwise be directly or indirectly involved as a shareholder, unitholder, director, consultant, adviser, contractor, principal, agent, manager, employee, beneficiary, partner, associate, trustee or financier; “Environment” means humans, animals, plants and all other living organisms including the ecological systems of which they form part and the following media: (a) air (including, without limitation, air within natural or man-made structures, whether above or below ground); (b) water (including, without limitation, territorial, coastal and inland waters, water under or within land and water in drains and sewers); and 5
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Employee Tax Liability means any income tax and social security contributions payable by a Transferred Employee or former Employee and for which any Transferred Entity, Buyer or a member of Buyer’s Group is liable to account in connection with the exercise of an option or the vesting of an award by or in a Transferred Employee or former Employee and “Employer Tax Liability” means any employer taxes payable by any Transferred Entity, Buyer or a member of Buyer’s Group in connection with the exercise of an option or the vesting of an award by or in a Transferred Employee or former Employee (including, but not limited to, U.S. Federal Insurance Contribution Act taxes and U.K. and German employer’s social security liability). This provision shall also apply where a Transferred Employee is deemed for tax purposes to have exercised an option, provided that Buyer gives Seller notice of such deemed exercise within five days, in which case Seller’s obligations to provide information and to withhold and remit amounts to Buyer as set out above will also apply in the same way to such deemed exercise.
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Related to Employee Tax Liability

  • Employee Taxes means all taxes, assessments, charges and other amounts whatsoever payable in respect of, and measured by the wages of, the Vendor’s employees (or subcontractors), as required by the Federal Social Security Act and all amendments thereto and/or any other applicable federal, state or local law.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.