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 Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. If approved by the Administrator, the minimum required tax withholding obligation may be satisfied, in whole or in part, by the Company withholding from shares of ...Stock to be issued a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due. The Company's obligation to deliver evidence of book entry (or stock certificates) to any Optionee is subject to and conditioned on tax withholding obligations being satisfied by the Optionee. View More