Withholding Clause Example from Business Contracts

Withholding. The Participant may be required to pay to the Company and, unless the Participant elects to pay the Company separately in cash, the Company shall have the right and is hereby authorized to withhold from any payment due or transfer made under the Option or under the Plan or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other securities, other Awards or other property) of any applicable withholding taxes in respect of the Option, its exercise, or any pay...ment or transfer under the Option or under the Plan and to take such action as may be necessary in the option of the Company to satisfy all obligations for the payment of such taxes. Notwithstanding the foregoing, in the case of net share settlement pursuant to Section 4(b)(i), any tax withholding made from the Option Shares shall not be in excess of the minimum amount of tax required to be withheld by law; except as may occur through administrative rounding to the nearest whole share. View More