Gehl Company 2004 Equity Incentive Plan – Withholding Tax Election for Non-Qualified Stock Option Exercise

Contract Categories: Business Finance › Equity Distribution Agreements
Summary

This agreement allows an employee (the Optionee) who is exercising a non-qualified stock option under Gehl Company's 2004 Equity Incentive Plan to elect how to satisfy required tax withholding. The Optionee can choose to have the company withhold shares or deliver shares back to the company equal in value to the minimum required tax amount. The election is irrevocable, must be submitted by the date the tax is recognized, and is subject to approval by the company's committee.

Read More Arrow
EX-10.4 4 tse14e.htm FORM OF ELECTION

EXHIBIT 10.4



GEHL COMPANY2004
EQUITY INCENTIVE PLAN
ELECTION RELATING TO WITHHOLDING
TAXES IN CONNECTION WITH THE EXERCISE
OF A NON-QUALIFIED STOCK OPTION

        The undersigned optionee (the “Optionee”) hereby elects pursuant to the terms of the Non-Qualified Stock Option Agreement, dated as of , between the Optionee and Gehl Company (the “Company”), granting to the Optionee a Non-Qualified Stock Option under the Company’s 2004 Equity Incentive Plan (the “Plan”), to have the Company withhold the number of shares of Common Stock of the Company (the “Common Stock”) otherwise issuable to the Optionee or to deliver shares of Common Stock to the Company having a fair market value on the Tax Date, as defined below, equal to the minimum amount required to be withheld as a result of the Optionee’s exercise of all or any part of such Non-Qualified Stock Option to satisfy the Company’s obligation to withhold local, state and Federal income taxes. If the number of shares of Common Stock determined pursuant to the preceding sentence shall include a fractional share, the number of shares withheld or delivered shall be reduced to the next lower whole number and the Optionee shall deliver to the Company cash in lieu of such fractional share, or otherwise make arrangements satisfactory to the Company for payment of such amount. The Optionee’s “Tax Date” shall be the date on which the Optionee recognizes income as a result of the exercise of the Non-Qualified Stock Option.

        This election must be received by the Secretary of the Company at its office in West Bend, Wisconsin on or prior to the Optionee’s Tax Date.

        This election shall be irrevocable and shall be subject to disapproval, in whole or in part, by the Committee (as such term is defined in the Plan).

        Dated this _____ day of _____________, ______.


 
Optionee

        Received _________________, ______.

GEHL COMPANY


By:      
Name / Title