FICA Taxes definition

FICA Taxes means the employer’s portion of any Social Security, Medicare, FICA, unemployment or other Payroll Taxes (including, but not limited to, the employer portion of Canada Pension Plan contributions, Canadian Employment Insurance premiums, Ontario Employer Health Tax and any similar provincial Taxes), with respect to any payments made pursuant to this Agreement on or after the Closing Date in respect of Options, including any such payments made prior to the Closing Date to the extent such Taxes have not been paid prior to the Closing Date to the appropriate Governmental Entity.
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Examples of FICA Taxes in a sentence

  • The engineering fees charged by the ENGINEER under this AGREEMENT and the payment of said charges, by the SPONSOR, shall constitute full compensation for all expenses incurred by the ENGINEER in connection with the services rendered including F.I.C.A. Taxes, Federal and State Unemployment Taxes, costs in connection with employee benefits, office expenses, supplies and equipment, the general costs of doing business, and the ENGINEER's profit.

  • To satisfy any FICA Taxes, the Company may accelerate the payment of amounts in Extended Deferral as necessary to satisfy the FICA Tax obligations as provided in this Paragraph.

  • An IRS Section 125 Plan also known as an Employee Cafeteria Plan allowing participating employees' costs of premium only benefits to be deducted from their gross pay prior to the calculation and deduction of Federal Withholding Taxes and FICA Taxes will be implemented during the term of this Agreement.

  • Simultaneously with the reporting of income in connection with the exercise of the Seller Stock Options, Seller shall pay to Buyer an amount equal to the sum of (i) all Taxes required to be withheld in respect of such income and (ii) the employer portion of all FICA Taxes in respect of such income.

  • Parent and each Parent Subsidiary have timely withheld or paid all federal and state income Taxes, Taxes pursuant to the FICA, Taxes pursuant to the Federal Unemployment Tax Act and other Taxes required to be withheld or paid by Parent and each Parent Subsidiary with respect to any of their respective employees, former employees, directors, officers, residents and non-residents or third parties.

  • If shares of Common Stock subject to the RSU are issued on an accelerated basis to satisfy the FICA Taxes under this Section 7(a), then you will also have income tax on such shares as wages and the corresponding income tax withholding provisions of applicable state, local or foreign tax laws (together with the FICA Tax, the “FICA-Related Taxes”) also apply.

  • Seller shall transfer to the Company any records held by Seller relating to withholding and payment of income and unemployment Taxes (federal, state and local) and FICA Taxes with respect to wages paid to employees of the Company during the calendar year in which the Closing occurs (including, without limitation, Forms W-4, Employee’s Withholding Allowance Certificate).

  • Boise Cascade and Oxford shall transfer to the Purchaser any records relating to withholding and payment of income and unemployment Taxes (federal, state and local) and FICA Taxes with respect to wages paid to Transferred Employees by Boise Cascade and Oxford during the calendar year in which the Closing occurs (including, without limitation, Forms W-4, Employee's Withholding Allowance Certificate).

  • To the extent that any employer FICA Taxes arise as a result of any payments to Option Holders of amounts distributed from the Escrow Fund in accordance with Section 7.4 hereof, such payments shall be made by SolarWinds and deducted from the Escrow Fund.

  • Prior to Closing, Holdings will cause the Company Entities to pay change in control bonuses to the employees identified in Section 5.10(c) of the Schedules (plus the employer portion of any FICA Taxes to be paid with respect to such change in control bonuses) (collectively, the “CIC Payments”).

Related to FICA Taxes

  • Taxes means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

  • Cash Taxes in respect of any fiscal period means amounts actually paid by the Companies in such fiscal period in respect of income and capital Taxes (whether relating to such fiscal period or any other fiscal period).

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).