Withholding Taxes Clause Example from Business Contracts

Withholding Taxes. If the Corporation in its discretion determines that it is obligated to withhold any tax in connection with the exercise of this Option, or in connection with the transfer of, or the lapse of restrictions on, any Common Stock or other property acquired pursuant to this Option, the Optionee hereby agrees that the Corporation may withhold from the Optionee's remuneration the appropriate amount of tax. At the discretion of the Corporation, the amount required to be withheld may be withheld in cash ...from such remuneration or in kind from the Common Stock or other property otherwise deliverable to the Optionee on exercise of this Option. The Optionee further agrees that, if the Corporation does not withhold an amount from the Optionee's remuneration sufficient to satisfy the withholding obligation of the Corporation, the Optionee will make reimbursement on demand, in cash, for the amount underwithheld. View More