Withholding of Taxes Clause Example with 5 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. Prior to the delivery to the Participant (or the Participant's beneficiary) of Shares upon the conversion of a Performance Share Unit, the Participant (or the Participant's beneficiary) shall be required to pay to the Company (or any Affiliate that employs the Participant), and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Award, or any payment or transfer under, or with re...spect to, the Award, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required withholding amount. The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits under this Agreement. View More
Found in MRC GLOBAL INC. contract

Variations of a "Withholding of Taxes" Clause from Business Contracts

Withholding of Taxes. Prior to the delivery to the Participant (or the Participant's beneficiary) estate, if applicable) of Shares upon the conversion of a Performance Share Unit, Shares, the Participant (or the Participant's beneficiary) estate) shall be required to pay to the Company (or or any Affiliate that employs the Participant), Affiliate, and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of th...e Award, Shares, or any payment or transfer under, or with respect to, the Award, Shares, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a payment Share Payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required minimum statutory withholding amount. requirement or by remitting cash received from a cashless exercise. The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits hereunder. In no event shall any withholdings made under this Agreement. Section 11 exceed the minimum statutory withholding requirement. View More
Found in MRC GLOBAL INC. contract
Withholding of Taxes. Prior To the extent that the vesting of the Restricted Stock Units or a distribution under the Agreement results in income to the delivery Participant for any income, employment or other tax purposes with respect to which the Company Group has a withholding obligation, the Participant (or the Participant's beneficiary) of Shares upon the conversion of a Performance Share Unit, the Participant (or the Participant's beneficiary) estate) shall be required to pay to the Company (or any Affiliate tha...t employs the Participant), Participant) at such time required under applicable law, and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the such Award, or any payment or transfer under, or with respect to, the such Award, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment or withholding of such withholding taxes. The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a Share payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required withholding amount. The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits under this Agreement. 4 10. Modification of Agreement. This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto, except as otherwise permitted under the Plan. View More
Found in MRC GLOBAL INC. contract
Withholding of Taxes. Prior to the delivery to the Participant (or the Participant's beneficiary) estate, if applicable) of Shares upon the conversion of a Performance Share Unit, Restricted Stock that have vested pursuant to Section 3 or 4 hereof, the Participant (or the Participant's beneficiary) estate) shall be required to pay to the Company (or or any Affiliate that employs the Participant), Affiliate, and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized t...o withhold, any applicable withholding taxes in respect of the such Award, or any payment or transfer under, or with respect to, the such Award, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a payment Share Payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required withholding amount. The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits under this Agreement. hereunder. View More
Found in 2 Contracts from MRC GLOBAL INC.
Withholding of Taxes. Prior To the extent that the vesting of the Restricted Stock Units or a distribution under the Agreement results in income to the delivery Participant for any income, employment or other tax purposes with respect to which the Company Group has a withholding obligation, the Participant (or the Participant's beneficiary) of Shares upon the conversion of a Performance Share Unit, the Participant (or the Participant's beneficiary) estate) shall be required to pay to the Company (or any Affiliate tha...t employs the Participant), Participant) at such time required under applicable law, and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the such Award, or any payment or transfer under, or with respect to, the such Award, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment or withholding of such withholding taxes. The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a Share payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required withholding amount. The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits under this Agreement. View More
Found in 5 Contracts from MRC GLOBAL INC.
Withholding of Taxes. Prior to the delivery to the Participant (or the Participant's beneficiary) estate, if applicable) of Shares upon the conversion of a Performance Share Unit, Restricted Stock that have vested pursuant to Section 3 or 4, the Participant (or the Participant's beneficiary) estate) shall be required to pay to the Company (or any Affiliate that employs the Participant), and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized to withhold, any appli...cable withholding taxes in respect of the such Award, or any payment or transfer under, or with respect to, the such Award, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a payment Share Payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required withholding amount. The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits under this Agreement. View More
Found in MRC GLOBAL INC. contract