Withholding of Taxes Clause Example with 6 Variations from Business Contracts
This page contains Withholding of Taxes clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Withholding of Taxes. When Shares are issued as payment for vested Restricted Stock Units, the Company (or the employing Subsidiary) may withhold a portion of the Shares that have an aggregate market value sufficient to pay federal, state, local and foreign income, social insurance, employment and any other applicable taxes required to be withheld by the Company or the employing Subsidiary with respect to the Shares, unless the Company, in its sole discretion, either requires or otherwise permits the Employee to make... alternate arrangements satisfactory to the Company for such withholdings in advance of the arising of any withholding obligations. The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund for any value of the Shares withheld in excess of the tax obligation as a result of such rounding. Notwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Company) have been made by the Employee with respect to the payment of any income and other taxes which the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or the employing Subsidiary) has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. All income and other taxes related to the Restricted Stock Units award and any Shares delivered in payment thereof are the sole responsibility of the Employee. By accepting this award, the Employee expressly consents to the withholding of Shares and to any additional cash withholding as provided for in this Section 9.View More
Variations of a "Withholding of Taxes" Clause from Business Contracts
Withholding of Taxes. When Shares are issued as payment for vested Restricted Stock Units, Performance Share Units or, in the discretion of the Company, at such earlier time as the Tax Obligations (defined below) are due, the Company (or the employing Subsidiary) may Affiliate) will withhold a portion of the Shares that have has an aggregate market value sufficient to pay all taxes and social insurance liability and other requirements in connection with the Shares, including, without limitation, (a) all federal, stat...e, state and local and foreign income, social insurance, employment and any other applicable taxes that are required to be withheld by the Company or the employing Subsidiary Affiliate, (b) the Employee's and, to the extent required by the Company (or the employing Affiliate), the Company's (or the employing Affiliate's) fringe benefit tax liability, if any, associated with the grant, vesting, or sale of the Performance Share Units and the Shares issued thereunder, and (c) all other taxes or social insurance liabilities with respect to the Shares, unless the Company, in its sole discretion, either requires or otherwise permits which the Employee has agreed to make alternate arrangements satisfactory to bear responsibility (collectively, the Company for such withholdings in advance of the arising of any withholding obligations. "Tax Obligations"). The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund provided in the U.S. for any value of the Shares withheld in excess of the tax obligation Tax Obligations as a result of such rounding. Notwithstanding the foregoing, the Company (or, in respect of an Employee subject to Section 16 of the 1934 Act, the HRCC), in its sole discretion, may require the Employee to make alternate arrangements satisfactory to it for such Tax Obligations in advance of the arising of any Tax Obligations. Notwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Company) have been made by the Employee with respect to the payment of any income and other taxes which Tax Obligations that the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or the employing Subsidiary) Affiliate) has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations Tax Obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. Shares or that are due prior to the issuance of Shares under the Performance Share Units. All income and other taxes Tax Obligations related to the Restricted Stock Performance Share Units award and any Shares delivered in payment thereof are the sole responsibility of the Employee. By accepting this award, the Further, Employee expressly consents to the withholding of Shares and to shall be bound by any additional cash withholding as provided for requirements included in the Notice of Grant and Appendix A of this Section 9. Agreement. View More
Withholding of Taxes. When Shares are issued as payment for vested Restricted Stock Units, Performance Shares or, in the discretion of the Company, at such earlier time as the Tax Obligations (defined below) are due, the Company (or the employing Subsidiary) may Affiliate) will withhold a portion of the Shares that have has an aggregate market value sufficient to pay all taxes and social insurance liability and other requirements in connection with the Shares, including, without limitation, (a) all federal, state, st...ate and local and foreign income, social insurance, employment and any other applicable taxes that are required to be withheld by the Company or the employing Subsidiary Affiliate, (b) the Employee's and, to the extent required by the Company (or the employing Affiliate), the Company's (or the employing Affiliate's) fringe benefit tax liability, if any, associated with the grant, vesting, or sale of the Performance Shares awarded and the Shares issued thereunder, and (c) all other taxes or social insurance liabilities with respect to the Shares, unless the Company, in its sole discretion, either requires or otherwise permits which the Employee has agreed to make alternate arrangements satisfactory to bear responsibility (collectively, the Company for such withholdings in advance of the arising of any withholding obligations. "Tax Obligations"). The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund provided in the U.S. for any value of the Shares withheld in excess of the tax obligation Tax Obligations as a result of such rounding. Notwithstanding the foregoing, the Company (or, in respect of an Employee subject to Section 16 of the 1934 Act, the HRCC), in its sole discretion, may require the Employee to make alternate arrangements satisfactory to it for such Tax Obligations in advance of the arising of any Tax Obligations. Notwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Company) have been made by the Employee with respect to the payment of any income and other taxes which Tax Obligations that the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or the employing Subsidiary) Affiliate) has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations Tax Obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. Shares or that are due prior to the issuance of Shares under the Performance Shares award. All income and other taxes Tax Obligations related to the Restricted Stock Units Performance Shares award and any Shares delivered in payment thereof are the sole responsibility of the Employee. By accepting this award, the Further, Employee expressly consents to the withholding of Shares and to shall be bound by any additional cash withholding as provided for requirements included in the Notice of Grant and Appendix A of this Section 9. Agreement. View More
Withholding of Taxes. When Shares are issued as payment for vested Restricted Stock Units, Units or, in the discretion of the Company, at such earlier time as the Tax Obligations 7 [Form of agreement for members of Executive Staff] Exhibit 10.6 (defined below) are due, the Company (or the employing Subsidiary) may Affiliate) will withhold a portion of the Shares that have has an aggregate market value sufficient to pay all taxes and social insurance liability and other requirements in connection with the Shares, incl...uding, without limitation, (a) all federal, state, state and local and foreign income, social insurance, employment and any other applicable taxes that are required to be withheld by the Company or the employing Subsidiary Affiliate, (b) the Employee's and, to the extent required by the Company (or the employing Affiliate), the Company's (or the employing Affiliate's) fringe benefit tax liability, if any, associated with the grant, vesting, or sale of the Restricted Stock Units and the Shares issued thereunder, and (c) all other taxes or social insurance liabilities with respect to the Shares, unless the Company, in its sole discretion, either requires or otherwise permits which the Employee has agreed to make alternate arrangements satisfactory to bear responsibility (collectively, the Company for such withholdings in advance of the arising of any withholding obligations. "Tax Obligations"). The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund provided in the U.S. for any value of the Shares withheld in excess of the tax obligation Tax Obligations as a result of such rounding. Notwithstanding the foregoing, the Company (or, in respect of an Employee subject to Section 16 of the 1934 Act, the HRCC), in its sole discretion, may require the Employee to make alternate arrangements satisfactory to it for such Tax Obligations in advance of the arising of any Tax Obligations. Notwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Company) have been made by the Employee with respect to the payment of any income and other taxes which Tax Obligations that the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or the employing Subsidiary) Affiliate) has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations Tax Obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. Shares or that are due prior to the issuance of Shares under the Restricted Stock Units. All income and other taxes Tax Obligations related to the Restricted Stock Units award and any Shares delivered in payment thereof are the sole responsibility of the Employee. By accepting this award, the Further, Employee expressly consents to the withholding of Shares and to shall be bound by any additional cash withholding as provided for requirements included in the Notice of Grant of this Section 9. Agreement. View More
Withholding of Taxes. When Shares are issued as payment for vested Restricted Stock Units, Units or, in the discretion of the Company, at such earlier time as the Tax Obligations (defined below) are due, the Company (or the employing Subsidiary) may Affiliate) will withhold a portion of the Shares that have has an aggregate market value sufficient to pay all taxes and social insurance liability and other requirements in connection with the Shares, including, without limitation, (a) all federal, state, state and local...and foreign income, social insurance, employment and any other applicable taxes that are required to be withheld by the Company or the employing Subsidiary Affiliate, (b) the Employee's and, to the extent required by the Company (or the employing Affiliate), the Company's (or the employing Affiliate's) fringe benefit tax liability, if any, associated with the grant, vesting, or sale of the Restricted Stock Units awarded and the Shares issued thereunder, and (c) all other taxes or social insurance liabilities with respect to the Shares, unless the Company, in its sole discretion, either requires or otherwise permits which the Employee has agreed to make alternate arrangements satisfactory to bear responsibility (collectively, the Company for such withholdings in advance of the arising of any withholding obligations. "Tax Obligations"). The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund provided in the U.S. for any value of the Shares withheld in excess of the tax obligation Tax Obligations as a result of such rounding. Notwithstanding the foregoing, the Company (or, in respect of an Employee subject to Section 16 of the 1934 Act, the HRCC), in its sole discretion, may require the Employee to make alternate arrangements satisfactory to it for such Tax Obligations in advance of the arising of any Tax Obligations. Notwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Company) have been made by the Employee with respect to the payment of any income and other taxes which Tax Obligations that the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or the employing Subsidiary) Affiliate) has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations Tax Obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. Shares or that are due prior to the issuance of Shares under the Restricted Stock Units award. All income and other taxes Tax Obligations related to the Restricted Stock Units award and any Shares delivered in payment thereof are the sole responsibility of the Employee. By accepting this award, the Further, Employee expressly consents to the withholding of Shares and to shall be bound by any additional cash withholding as provided for requirements included in the Notice of Grant of this Section 9. Agreement. View More
Withholding of Taxes. When Shares are issued as payment for vested Restricted Stock Units, The Company or the Company (or the employing Subsidiary) may Employer will withhold a portion of the Shares that have has an aggregate market value sufficient to pay federal, state, local and foreign income, social insurance, employment and any other applicable taxes all Tax Obligations required to be withheld by the Company or the employing Subsidiary Employer with respect to the Shares, any RSUs, unless the Company, Committee..., in its sole discretion, either requires or otherwise permits the 2014 TSR LTIP -2- Employee to make alternate arrangements satisfactory to the Company for such withholdings in advance of the arising of any withholding obligations. The Committee, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit the Employee to satisfy his or her Tax Obligations, in whole or in part by one or more of the following (without limitation): (a) paying cash, (b) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (c) selling a sufficient number of such Shares withheld pursuant otherwise deliverable to Employee through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the prior sentence will amount required to be rounded up to the nearest whole Share, with no refund for any value of the Shares withheld in excess of the tax obligation as a result of such rounding. withheld. Notwithstanding any contrary provision of this Agreement, no Shares will be issued in settlement of the vested Restricted Stock Units unless and until satisfactory arrangements (as determined by the Company) will have been made by the Employee with respect to the payment of any income and other taxes which the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or or the employing Subsidiary) Employer has the right to retain without notice from salary or other amounts payable to the Employee, cash having a sufficient value to satisfy any tax withholding obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. All income and other taxes Tax Obligations related to the award of Restricted Stock Units award and any Shares delivered in payment thereof are the sole responsibility of the Employee. By accepting this award, the Employee expressly consents to the withholding of Shares and to any additional cash withholding as provided for in this Section 9. paragraph 8. Only whole Shares will be withheld or sold to satisfy any tax withholding obligations pursuant to this paragraph 8. The number of Shares withheld will be rounded up to the nearest whole Share, with a cash refund to the Employee for any value of the Shares withheld in excess of the tax obligation (pursuant to such procedures as the Company may specify from time to time). To the extent that the cash refund described in the preceding sentence is not administratively feasible, as determined by the Company in its sole discretion, the number of Shares withheld will be rounded down to the nearest whole Share and, in accordance with this paragraph 8 and to the maximum extent permitted by law, the Company will retain from salary or other amounts payable to the Employee cash having a sufficient value to satisfy any additional tax withholding. View More
Withholding of Taxes. When the Shares are issued as payment for vested Restricted Stock Units, RSUs, the Company (or the employing Subsidiary) may will withhold a portion of the Shares that have an aggregate market value Fair Market Value sufficient to pay the minimum federal, state, state and local and foreign income, social insurance, employment and any other applicable taxes required to be withheld by the Company or the employing Subsidiary with respect to the Shares, Company, unless the Company, in its sole discr...etion, either requires or otherwise permits the Employee Participant to make alternate arrangements satisfactory to the Company for such withholdings in advance of the arising of any withholding obligations. The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund cash payment due the Participant for any the value of the Shares any Share withheld in excess of the tax obligation as a result of such rounding. Notwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Company) have been made by the Employee Participant with respect to the payment of any income and other taxes which the Company determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Company (or the employing Subsidiary) has the right to retain without notice from salary or other amounts payable to the Employee, Participant, cash having a sufficient value to satisfy any tax withholding obligations that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares. All income and other taxes related to the Restricted Stock Units RSU award and any Shares delivered in payment thereof are the sole responsibility of the Employee. Participant. By accepting this RSU award, the Employee Participant expressly consents to the withholding of Shares and to any additional cash withholding as provided for in this Section paragraph 9. View More
