Secondary NIC Liability definition

Secondary NIC Liability means any liability to employer’s Class 1 National Insurance Contributions to the extent arising from the grant, exercise, release or cancellation of an Option or arising out of the acquisition, retention and disposal of the Shares acquired pursuant to an Option.
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Secondary NIC Liability means any liability to employer’s Class 1 National Insurance Contributions to the extent arising from the grant, exercise, release or cancellation of an Award or arising out of the acquisition, retention and disposal of the Shares acquired pursuant to an Award.
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Secondary NIC Liability means any liability to employer's Class 1 National Insurance Contributions (including Health and Social Care Levy, when applicable) to the extent arising from the grant, exercise, release or cancellation of an Option or arising out of the acquisition, retention and disposal of the Shares acquired pursuant to an Option.
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Examples of Secondary NIC Liability in a sentence

  • The word "and" shall be deleted from the end of Rule 3.3(b)(ii) and the following shall be inserted between Rules 3.3(b)(ii) and Rule 3.3(b)(iii) as a new Rule 3.3(b)(iii) with the remainder of the Rule being re-numbered accordingly: "whether the Participant is liable for any Secondary NIC Liability (if the Award is in the form of an Option or a Right); and".

  • The words "(but shall be required to pay the Award Tax Liability and, if required by the Invitation, the Secondary NIC Liability)" shall be inserted between the words "are exercised" and "and" in Rule 7.4(a).

  • The words "the Award Tax Liability and, if required by the Invitation, the Secondary NIC Liability" shall be inserted between the words "Exercise Price (if any) and "to (or as directed by)" in Rule 7.3(b).

  • To the extent permitted by law, the Optionee hereby agrees to indemnify and keep indemnified the Company, and the Company as trustee for and on behalf of any related corporation, for any Option Tax Liability and Secondary NIC Liability.

  • In the event that my spouse, CLORINDA D’AGNOLO, is unable or unwilling for any reason to so act, the remaining named individuals shall then be nominated, in the same order following her appointment thereof.[97-2] at 1–2.

  • If Participant does not enter into a Joint Election (or otherwise indemnify the Company and the Participant’s employer for the Secondary NIC Liability), or if the Joint Election is revoked at any time by HM Revenue & Customs, the Option shall become null and void without any liability to the Company and/or the Participant’s employer, may not be exercised and shall lapse with immediate effect.

  • Withholding Taxes In the event that the Company determines that it or any Subsidiary is required to account to HM Revenue & Customs for the Award Tax Liability and any Secondary NIC Liability or to withhold any other tax as a result of the settlement of this Award you, as a condition to the settlement of this Award, shall make arrangements satisfactory to the Company to enable it or any Subsidiary to satisfy all withholding liabilities.

  • The Exercise Notice will be accompanied by payment of the aggregate Exercise Price, the Secondary NIC Liability and the Option Tax Liability (each, as defined below) as to all Exercised Shares together with any other applicable tax withholding.

  • In the event that the Company determines that it or any Subsidiary is required to account to HM Revenue & Customs for the Option Tax Liability and any Secondary NIC Liability or to withhold any other tax as a result of the exercise of this Option, the Optionee, as a condition to the exercise of the Option, shall make arrangements satisfactory to the Company to enable it or any Subsidiary to satisfy all withholding liabilities.

  • Employer’s National Insurance Charges As a further condition of the exercise of an Option under the Plan the Optionee shall join with the Company or any other company or person who is or becomes a Secondary Contributor in making a Joint Election which has been approved by HM Revenue & Customs, for the transfer of the whole of any Secondary NIC Liability.


More Definitions of Secondary NIC Liability

Secondary NIC Liability means any liability to employer’s Class 1 National Insurance Contributions to the extent arising from the grant, exercise, release
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Secondary NIC Liability means any liability to employer's Class 1 National Insurance Contributions to the extent arising from the grant, exercise, release or cancellation of an Option or Restricted Stock Unit arising out of the acquisition, retention and disposal of the Stock acquired pursuant to an Option or Restricted Stock Unit.
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Secondary NIC Liability means any liability to employer’s Class 1 National Insurance Contributions to the extent arising from the grant, exercise, release, vesting or cancellation of an Award or arising out of the acquisition, retention and disposal of the Shares acquired pursuant to an Award.
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Secondary NIC Liability means any liability to employer’s Class 1 National Insurance contributions to the extent arising from the grant, vesting, exercise, release or cancellation of an Award or arising out of the acquisition, vesting, retention and/or disposal of the Shares acquired pursuant to an Award, where such liability may be recovered from the Participant by the Secondary Contributor under paragraph 3A of Schedule 1 to the Social Security Contributions and Benefits Act 1992 or transferred to the Participant under paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992.
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Secondary NIC Liability means any liability to employer’s Class 1 National Insurance contributions to the extent arising from the grant, vesting, exercise, release or cancellation of an Award or arising out of the acquisition, vesting, retention and/or disposal of the Shares acquired pursuant to an Award, where such liability may be recovered from the Eligible Person by the Secondary Contributor under paragraph 3A of Schedule 1 to the Social Security Contributions and Benefits Act 1992 or transferred to the Eligible Person under paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992.
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Secondary NIC Liability means any liability to employer’s Class 1 National Insurance contributions to the extent arising from the grant, vesting, exercise, release or cancellation of an Award or arising out of the acquisition, vesting, retention and/or disposal of the Shares acquired pursuant to an Award, where such liability may be recovered from the Participant by the Secondary Contributor under paragraph 3A of Schedule 1 to the Social Security Contributions and Benefits Act 1992 or transferred to the Participant under paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992. “Section 431 Election” shall mean an election made under section 431 of ITEPA. “Share” shall mean share of Class B Common Stock of the Company. “Taxable Event” shall mean any occasion on which a UK Tax Liability and/or Secondary NIC Liability arises in connection with an Award or any Shares acquired under it, including but not limited to the grant, vesting, exercise, assignment, release, cancellation or other disposal of an Award or arising out of the acquisition, vesting, retention and/or disposal of the Shares acquired pursuant to an Award or otherwise pursuant to an award of Shares under the Plan. “UK Participant” means a Participant resident in the United Kingdom for United Kingdom tax purposes, or otherwise within the scope of United Kingdom taxation on employment income as a result of duties performed in the United Kingdom. “UK Group Company” shall mean a Group Company which is incorporated in the UK. “UK Tax Liability” shall mean any liability or obligation of the Company and/or any Group Company, including any UK Group Company, to account (or pay) for income tax (under the United Kingdom withholding system of PAYE (pay as you earn)) or any other taxation provisions and primary class 1 National Insurance contributions in the United Kingdom to the extent arising from the grant, exercise, vesting, assignment, release, cancellation or any other disposal of an Award or arising out of the acquisition, retention and disposal of the Shares acquired under this Plan.
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Related to Secondary NIC Liability

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Catastrophic illness or injury means one of the following: