Tax-Related Items definition
Examples of Tax-Related Items in a sentence
Without limiting the foregoing, the Company may permit (in accordance with procedures established by the Company) or require the Grantee to pay an amount equal to all or any portion of the applicable Tax-Related Items directly to the Company or a Subsidiary by check or wire transfer, or the Company may satisfy the Tax Related Items by withholding from the Grantee’s salary, wages, or any other amounts payable to the Grantee, in accordance with applicable law.
If the obligation for Tax-Related Items is satisfied by withholding PBA Shares, for tax purposes, the Grantee is deemed to have been issued the full number of PBA Shares otherwise payable upon settlement of the Restricted Units, notwithstanding that a number of the PBA Shares is held back solely for the purpose of satisfying the withholding obligations for Tax-Related Items.
Notwithstanding the foregoing, regardless of any action the Company may take with respect to the foregoing, you acknowledge and agree that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility.
Further, if the Grantee has become subject to tax in more than one jurisdiction between the Grant Date and the date of any relevant taxable event, the Grantee acknowledges that the Company or its Subsidiaries may be required to collect, withhold or account for Tax-Related Items in more than one jurisdiction.
The Grantee further acknowledges that the Company and its Subsidiary (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the PBA, including the grant, vesting or settlement of the PBA and the subsequent sale of any PBA Shares acquired at settlement; and (ii) do not commit to structure the terms of the grant or any aspect of the PBA to reduce or eliminate the Grantee’s liability for Tax-Related Items.