Tax Withholding Clause Example from Business Contracts

Tax Withholding. The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Committee for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the minimum required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock... to be issued to the Optionee 5 a number of shares of Stock with an aggregate Fair Market Value that would satisfy the minimum withholding amount due. View More