Examples of Equity Award CVR in a sentence
To the extent Apple, Purchaser or any of its Subsidiaries is required under Applicable Law to deduct or withhold any employee Tax (including any employee National Insurance contributions in the United Kingdom) from any Equity Award CVR payments, then it shall do so in accordance with Section 2.4.
Milestone Payments paid in respect of each Equity Award CVR shall be treated for all U.S. federal and applicable state and local income Tax purposes as wages in the year in which the Milestone Payment is made (and not upon the receipt of such Equity Award CVR).
The parties hereto intend that, for United Kingdom tax purposes, the CVR Payments and the Equity Award CVR Payments shall be subject to all applicable deductions and withholding (if any) as required by Applicable Law.
The payments described in clause (ii) of the preceding sentence shall be paid as soon as practicable following achievement of the Milestone in accordance with this Agreement (subject to withholding as described in Section 2.8 of the Merger Agreement), and shall not be delayed in a manner which results in a tax or penalty to the holder of an Equity Award CVR under Section 409A of the Code.
For the avoidance of doubt, this Section 2.5(c), will not apply to any Equity Award CVR, because any withholding with respect to any such Equity Award CVR will be imposed as withholding from wages in the year in which any CVR Payment Amount is made on any such Equity Award CVR.
If the CVR Milestone is achieved prior to the CVR Deadline Time, Purchaser shall, or shall cause, promptly (but in any event no later than twenty (20) calendar days) following the delivery of the CVR Notice, deposit with the Rights Agent, for payment to the Holders in accordance with Section 2.4, the aggregate amount necessary to pay the CVR Payments to the Holders (other than holders entitled to certain Equity Award CVR Payments as set forth in Section 2.4).
Notwithstanding any provision of this Agreement to the contrary, if elected by Parent, amounts payable to current or former employees of the Company pursuant to this Agreement in respect of an Equity Award CVR may be made through Parent’s or the Surviving Corporation’s or an Affiliate’s payroll system or any successor payroll system and otherwise in accordance with the terms of this Agreement.
If the CVR Milestone is achieved prior to the CVR Deadline Time, Purchaser shall, promptly (but in any event no later than twenty (20) calendar days) following the delivery of the CVR Notice, deposit with the Rights Agent, for payment to the Holders in accordance with Section 2.4, the aggregate amount necessary to pay the CVR Payments to the Holders (other than holders entitled to certain Equity Award CVR Payments as set forth in Section 2.4).