Common use of Responsibility for Taxes Clause in Contracts

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 6 contracts

Samples: Award Agreement (Arconic Corp), Restricted Share Unit Award Agreement (Howmet Aerospace Inc.), Restricted Share Unit Award Agreement (Howmet Aerospace Inc.)

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Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawSpecial Retention Awards. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 6 contracts

Samples: Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or (v) any other method , provided, however, that if the Participant is a Section 16 officer of the Company under the Exchange Act, then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 5 contracts

Samples: Restricted Stock Unit Award Agreement (Alliance Data Systems Corp), Restricted Stock Unit Award Agreement (Alliance Data Systems Corp), Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Participant’s employer or any Parent or Subsidiary that employs the to which Participant is providing services (together, the “EmployerService Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Withholding Obligations (as defined below) in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 4 contracts

Samples: Stock Option Agreement (La Rosa Holdings Corp.), Stock Option Agreement (Solid Power, Inc.), Stock Option Agreement (BlackSky Technology Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 4 contracts

Samples: Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Agreement, the Company shall have no obligation to process the settlement of the Award Agreement or to deliver Common Shares unless and until satisfactory arrangements (except if as determined by the Company) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, National Insurance Contributions, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant including, without limitation, in connection with the Participant grant, vesting or settlement of the Award, the subsequent sale of Common Shares acquired under the Plan and/or the receipt of any dividends on such Common Shares which the Company determines must be withheld (“Tax-Related Items”) ). If Participant fails to make satisfactory arrangements for the payment of any required Tax-Related Items hereunder at the time of the Award settlement, Participant acknowledges and agrees that the Company may refuse to deliver the Common Shares if such amounts are not delivered at the time of settlement. Participant authorizes the Company and/or the Affiliate to withhold any Tax-Related Items legally payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Affiliate or from proceeds of the sale of Common Shares. Further, if Participant is subject to tax in more than one jurisdiction between the date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges and agrees that the Company and/or Affiliate employer, or former employer, as applicable, may be required to withhold or account for tax in more than one jurisdiction. Regardless of any action of the Company or the Affiliate, Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerAffiliate. The Participant further acknowledges that the Company and/or and the Employer Affiliate (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsAward; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 4 contracts

Samples: Restricted Stock Units Agreement (Lululemon Athletica Inc.), Restricted Stock Units Agreement (Lululemon Athletica Inc.), Restricted Stock Units Agreement (Lululemon Athletica Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by Micro or the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to Awardee or deemed by Micro or the Participant Employer to be an appropriate charge to Awardee even if technically due by Micro or the Employer (“Tax-Related Items”) ), Awardee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantAwardee’s responsibility and may exceed the amount actually withheld by the Company Micro or the Employer. The Participant Awardee further acknowledges that the Company Micro and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsStock Unit Award, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Unit Award, the issuance of Shares Unitsupon settlement of the Restricted Stock Unit Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Stock Unit Award and the receipt of any dividends or dividend equivalentsother distributions, if any; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Unit Award to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Awardee has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Awardee acknowledges that the Company Micro and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Awardee will pay or make adequate arrangements satisfactory to the Company Micro and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Awardee authorizes the Company Micro and/or the Employer, or their respective agents, at their discretionsole discretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company Micro and/or the Employer, ; (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Unit Award, either through a voluntary sale or through a mandatory sale arranged by the Company Micro (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); or (iv3) withholding from in Shares acquired pursuant to the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawStock Unit Award. Depending on the withholding methodTo avoid negative accounting treatment, the Company Micro may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedShares as described herein, for tax purposes, Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsStock Unit Award, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Awardee’s participation in the Plan. Finally, the Participant shall Awardee will pay to the Company and/or Micro or the Employer any amount of Tax-Related Items that the Company and/or Micro or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan or Awardee’s acquisition of Shares that cannot be satisfied by the means previously described. The Company Micro may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant Awardee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 4 contracts

Samples: 2003 Equity Incentive Plan Eu Restricted Stock Unit Award Agreement (Ingram Micro Inc), Restricted Stock Unit Award Agreement (Ingram Micro Inc), Restricted Stock Unit Award Agreement (Ingram Micro Inc)

Responsibility for Taxes. This provision replaces paragraph 6 supplements Section 13 of the Award Agreement (except if and Section 1 of the Terms and Conditions for Non-U.S. Participants: Without limitation to Section 13 of the Agreement and Section 1 of the Terms and Conditions for Non-U.S. Participants, the Participant agrees that the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability liable for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is Items and remains the Participant’s responsibility hereby covenants to pay all such Tax-Related Items as and may exceed the amount actually withheld when requested by the Company or the EmployerEmployer or by Her Majesty’s Revenue and Customs (“HMRC”) (or any other tax authority or any other relevant authority). The Participant further acknowledges also agrees to indemnify and keep indemnified the Company and the Employer against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on the Participant’s behalf. Notwithstanding the foregoing, if the Participant is a director or executive officer of the Company (within the meaning of Section 13(k) of the Exchange Act), the Participant understands that he or she may not be able to indemnify the Company for the amount of any Tax-Related Items not collected from or paid by the Participant, in case the indemnification could be considered a loan. In this case, the Tax-Related Items not collected or paid may constitute a benefit to the Participant on which additional income tax and National Insurance contributions (“NICs”) may be payable. The Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for paying to the Company and/or the Employer (aas appropriate) make no representations or undertakings regarding the treatment amount of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsNICs due on this additional benefit, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising which may also be recovered from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds any of the sale of Shares acquired pursuant means referred to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number Section 13 of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold Agreement or account for as a result Section 1 of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the TaxTerms and Conditions for Non-Related ItemsU.S. Participants.

Appears in 4 contracts

Samples: Award Noticeand Performance Share Unit Agreement (Hilton Worldwide Holdings Inc.), Award Noticeand Performance Share Unit Agreement (Hilton Worldwide Holdings Inc.), Performance Share Agreement (Hilton Worldwide Holdings Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Itemswithholding and payment on account obligations of the Company and/or the Employer. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding and all other obligations with regard to all Tax-Related Items legally payable by the Participant by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 4 contracts

Samples: www.sec.gov, Apple Inc, Apple Inc

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Shares of Restricted Stock, including, without limitation, all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including the Participant’s Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these the Shares of Restricted Shares UnitsStock, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsvesting, the release from escrow, subsequent sale of Shares acquired pursuant to the Restricted Share Unit and this Award Agreement or the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Award of Restricted Share Units Stock to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds Shares. Participant understands that Section 83 of the sale Code taxes as ordinary income the difference between the purchase price, if any, for the Shares and the Fair Market Value of the Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Itemsas of each vesting date.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (RealPage, Inc.), Restricted Stock Award Agreement (RealPage, Inc.), Restricted Stock Award Agreement (RealPage, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable or deemed legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the RSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Global Restricted Stock Unit Award Agreement (Allegion PLC), Restricted Stock Unit Award Agreement (Allegion PLC), Global Restricted Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, grant or vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares any shares acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, may satisfy, or allow the Participant to satisfy their satisfy, the withholding obligations obligation with regard to all Tax-Related Items by one any of the following, or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.thereof:

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement, Restricted Stock Unit Award Agreement (American Express Co), Restricted Stock Unit Award Agreement (American Express Co)

Responsibility for Taxes. This provision replaces paragraph 6 As a condition to the grant, vesting and exercise of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges thatoption, regardless of any action taken by the Company or, if differentor any Subsidiary or Affiliate takes with respect to the Tax-Related Items, the Subsidiary Employee hereby acknowledges and agrees that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the ParticipantEmployee’s responsibility and may exceed the any amount actually withheld by the Company or the Employerany Subsidiary or Affiliate. The Participant Employee further acknowledges that the Company and/or the Employer and its Subsidiaries and Affiliates (a1) make no representations or undertakings regarding the treatment of any the Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe option grant, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Units, the subsequent option and the immediate sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentssuch exercise; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units this option to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall Employee also agrees that he or she will not make any claim against the Company, the Employer or any other Subsidiaryof its Directors, Employees or their respective board, officers Subsidiaries or employees Affiliates related to Tax-Related Items arising from this Awardoption. FurthermoreThe Employee further acknowledges and agrees that the Employee is solely responsible for filing all relevant documentation that may be required in relation to this option or any Tax-Related Items (other than filings or documentation that is the specific obligation of the Company or any Subsidiary or Affiliate pursuant to applicable law), such as but not limited to personal income tax returns or reporting statements in relation to the grant, vesting or exercise of the option, the holding of Shares or any bank or brokerage account, the subsequent sale of Shares, and the receipt of any dividends. The Employee also understands that applicable laws may require varying Share or option valuation methods for purposes of calculating Tax-Related Items, and the Company and its Subsidiaries and Affiliates assume no responsibility or liability in relation to any such valuation or for any calculation or reporting of income or Tax-Related Items that may be required of the Employee under applicable laws. Further, if the Participant Employee has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) any Subsidiary or Affiliate may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Varex Imaging Corp), Restricted Stock Unit Agreement (Varex Imaging Corp), Restricted Stock Unit Agreement (Varex Imaging Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges and agrees that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe PRSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe PRSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentson Shares, and the subsequent sale of the Shares; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PRSUs to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Employee has become subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding paragraph 5, prior to any relevant taxable or tax withholding event, as applicable, the Participant Employee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Company shall withhold in Shares otherwise deliverable to the Employee having a Fair Market Value equal to an amount that satisfies the Tax-Related Items required to be withheld. In the event that such withholding in Shares is problematic under applicable tax, securities, or other laws or has materially adverse accounting consequences, the Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations obligations, if any, with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Performance Restricted Stock Unit Agreement (Coherent Inc), Restricted Stock Unit Agreement (Coherent Inc), Global Performance Restricted Stock Unit Agreement (Coherent Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges and agrees that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentson Shares, and the subsequent sale of the Shares; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Employee has become subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Employee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Company shall withhold in Shares otherwise deliverable to the Employee having a Fair Market Value equal to an amount that satisfies the Tax-Related Items required to be withheld. In the event that such withholding in Shares is problematic under applicable tax, securities or other laws, or has materially adverse accounting consequences, the Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations obligations, if any, with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Equity Incentive Plan (Coherent Inc), Equity Incentive Plan (Coherent Inc), Global Restricted Stock Unit Agreement (Coherent Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934By accepting this RSU Award, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary any Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account account, employment tax, stamp tax or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, including any employer liability for which the Participant is liable (the “Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSU Award, including, but not limited to, the grant, vesting vesting, or settlement of Restricted Shares Unitsthe RSU Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement, and the receipt of any dividends or dividend equivalents; dividends, and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSU Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the as applicable, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Participant agrees to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously describeddescribed in this Section. The Company may refuse to issue or deliver the Shares Shares, or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Award Agreement (Duddell Street Acquisition Corp.), Notice of Restricted Stock Unit Award (Duddell Street Acquisition Corp.), Notice of Restricted Stock Unit Award (Romeo Power, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toto the grant of the Restricted Stock Units, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares in settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Employee Restricted Stock Unit Grant Agreement (Starbucks Corp), Key Employee Restricted Stock Unit Grant Agreement (Starbucks Corp), Global Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs employing the Participant Employee (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and may exceed the amount actually to be withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Employee is subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to If any relevant taxable or tax withholding eventis required when Shares are issued as payment for vested Restricted Stock Units or, in the discretion of the Company, at such earlier time as applicablethe Tax-Related Items are due, the Participant Company will withhold a portion of the Shares that has an aggregate market value sufficient to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regardaddition and to the maximum extent permitted by law, the Participant authorizes the Company and/or (or the Employer) has the right to retain without notice from any fees, salary or their respective agentsother amounts payable to the Employee, at their discretion, cash having a sufficient value to satisfy their withholding obligations with regard to all any Tax-Related Items that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares or that are due prior to the issuance of Shares under the Restricted Stock Unit Award. Notwithstanding the foregoing, the Company, in its sole discretion, may require the Employee to make alternate arrangements satisfactory to the Company for payment of such Tax-Related Items before they arise. Further, if permissible under applicable local law, the Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require the Employee to satisfy the Tax‑Related Items, in whole or in part, by one selling a sufficient number of Shares otherwise deliverable to the Employee through such means as the Company may determine in its sole discretion, including through a broker‑assisted arrangement or a combination of otherwise, equal to the following: amount to be withheld (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages and any associated broker or other cash compensation paid to the Participant fees, as applicable). To avoid negative tax consequences, if Tax-Related Items are satisfied by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of in Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodotherwise issuable, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or. In addition, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Employee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Restricted Stock Units. FinallyNotwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Participant shall pay Company) have been made by the Employee with respect to the Company and/or the Employer payment of any amount of Tax-Related Items that the Company and/or determines must be withheld or collected with respect to the Employer may be required Restricted Stock Units. If the Employee fails to withhold make satisfactory arrangements for the payment of any Tax‑Related Items at the time any applicable Restricted Stock Units otherwise vest pursuant to this Agreement or account for as a result the terms of the Participant’s participation in Plan, or at the Plan that cannot be satisfied by time any Tax‑Related Items with respect to the means previously described. The Company may refuse Restricted Stock Units otherwise are due, the Employee permanently will forfeit such Restricted Stock Units and any right to issue or deliver receive the Shares or thereunder and the proceeds of Restricted Stock Units will be returned to the sale of Shares if Company at no cost to the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsCompany.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Quantum Corp /De/), Restricted Stock Unit Agreement (Quantum Corp /De/), Restricted Stock Unit Agreement (Quantum Corp /De/)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant; (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares; and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting vesting, or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 3 contracts

Samples: Incentive Plan Stock Option Agreement (CXApp Inc.), Stock Option Agreement (Transphorm, Inc.), Stock Option Agreement (Transphorm, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges You acknowledge that, regardless of any action taken by the Company orCompany, if differentany subsidiary or affiliate of the Company, the Subsidiary that employs the Participant including your employer (the “Employer”), the ultimate liability for all income taxtax (including U.S. and non-U.S. federal, state and local taxes), social insurancesecurity, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s your participation in the Plan and legally applicable or deemed by the Company or the Employer, in its discretion, to be an appropriate charge to you even if legally applicable to the Participant Company or the Employer (“Tax-Tax- Related Items”) is and remains the Participant’s your responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. The Participant You further acknowledges acknowledge that the Company Company, any subsidiary or affiliate and/or the Employer Employer: (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs or underlying shares of Common Stock, including, but not limited toincluding the grant of the RSUs, the grantvesting of RSUs, vesting the conversion of the RSUs into shares of Common Stock or settlement the receipt of Restricted Shares Unitsan equivalent cash payment, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and and, (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s your liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if you are subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any In connection with the relevant taxable or tax withholding event, as applicable, the Participant will pay or you agree to make adequate arrangements satisfactory to the Company and/or or the Employer to satisfy all Tax-Related ItemsItems that require withholding by the Company or the Employer. In this regard, by your acceptance of the Participant authorizes RSUs, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their any applicable withholding obligations or rights with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, Grantee’s employer or any parent or Subsidiary of the Subsidiary that employs the Participant Company to which Grantee is providing services (together, the “EmployerService Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Grantee’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee, (ii) Grantee’s and, to the Participant extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Grantee has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the ParticipantGrantee’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant Grantee further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Grantee is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Grantee acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Withholding Obligations (as defined below) in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Bakkt Holdings, Inc.), Restricted Stock Unit Agreement (Bakkt Holdings, Inc.), Restricted Stock Unit Agreement (Bakkt Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Awardee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant entity to which Awardee is providing Service (the “Employer”), ) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to the Participant Awardee (“Tax-Related Items”) ), is and remains the ParticipantAwardee’s responsibility and may exceed the any amount actually withheld by the Company or the Employer. The Participant Awardee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Stock Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Stock Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalentsother distributions; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Award to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Awardee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the Participant as applicable, Awardee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to Awardee authorizes the Company and/or the Employer to satisfy all Tax-Related Items. In this regardto, in the Participant authorizes sole discretion of the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items legally payable by one or a combination of the following: (i) requiring a cash payment Awardee from the Participant; (ii) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company and/or the Employer, (iii) withholding within legal limits, or from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsShares. Alternatively, either through a voluntary sale or through a mandatory sale arranged by in addition, if permissible under local law, the Company may in its sole discretion (1) sell or arrange for the sale of Shares that Awardee acquires to meet the withholding obligation for Tax-Related Items (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); (iv) withholding from the Shares subject to Restricted Share Units; , and/or (v2) any other method of withholding determined by withhold in Shares, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount. Notwithstanding the foregoing, if Awardee is an officer of the Company within the meaning of the Exchange Act, then the Company will withhold in Shares unless the use of such withholding method is not practicable under applicable tax or securities laws or has materially adverse accounting consequences, in which case, the obligation for Tax-Related Items may be satisfied by one or a combination of methods (1) and permitted by applicable law(2) above. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Awardee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsStock Award, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Awardee agrees to pay to the Company and/or or the Employer Employer, any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Awardee fails to comply with his or her Awardee’s obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Global Stock Award Agreement (Keysight Technologies, Inc.), Global Stock Award Agreement (Keysight Technologies, Inc.), Keysight Technologies, Inc.

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all income taxfederal (including Participant’s Federal Insurance Contributions Act (FICA) obligations), social insurancestate, payroll tax, fringe benefits tax, payment on account local and non-U.S. taxes that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant taxable or tax withholding event, as applicable, required Tax Obligations hereunder at the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination time of the following: applicable taxable event (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding as determined by the Company Company), Participant acknowledges and permitted by applicable law. Depending on agrees that the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Shares that otherwise would be delivered to Participant may receive a refund of any over-withheld amount in cash (with will be permanently forfeited at no entitlement cost to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsCompany.

Appears in 3 contracts

Samples: Option Agreement (Micron Technology Inc), Restricted Stock Agreement (Micron Technology Inc), Restricted Stock Unit Agreement (Micron Technology Inc)

Responsibility for Taxes. This provision replaces paragraph 6 The following provisions replace Section 8 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). Agreement: The Participant acknowledges that, regardless of any action taken by the Company Company, or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant as a result of participation in the Plan (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or to enable the Company and the Employer to satisfy all fulfill any withholding obligation for Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.following methods:

Appears in 3 contracts

Samples: Cirrus Logic (Cirrus Logic, Inc.), Cirrus Logic (Cirrus Logic, Inc.), Cirrus Logic (Cirrus Logic Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share UnitsSpecial Retention Awards; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Special Retention Award Agreement (Arconic Corp), Special Retention Award Agreement (Arconic Corp), Special Retention Award Agreement (Howmet Aerospace Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toto the grant of the Restricted Stock Units, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares in settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization 3 of 11 by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Grant Agreement, Global Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items that become payable in a year prior to the year in which shares of Stock are issued upon settlement of the Restricted Stock Units), or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.), Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by Micro or the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to Awardee or deemed by Micro or the Participant Employer to be an appropriate charge to Awardee even if technically due by Micro or the Employer (“Tax-Related Items”) ), Awardee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantAwardee’s responsibility and may exceed the amount actually withheld by the Company Micro or the Employer. The Participant Awardee further acknowledges that the Company Micro and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsStock Unit Award, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Unit Award, the issuance of Shares Unitsupon settlement of the Restricted Stock Unit Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Stock Unit Award and the receipt of any dividends or dividend equivalentsother distributions, if any; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Unit Award to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Awardee has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Awardee acknowledges that the Company Micro and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Awardee will pay or make adequate arrangements satisfactory to the Company Micro and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Awardee authorizes the Company Micro and/or the Employer, or their respective agents, at their discretionsole discretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company Micro and/or the Employer, ; (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Unit Award, either through a voluntary sale or through a mandatory sale arranged by the Company Micro (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); or (iv3) withholding from in Shares acquired pursuant to the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawStock Unit Award. Depending on the withholding methodTo avoid negative accounting treatment, the Company Micro may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedShares as described herein, for tax purposes, Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsStock Unit Award, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Awardee’s participation in the Plan. Finally, the Participant shall Awardee will pay to the Company and/or Micro or the Employer any amount of Tax-Related Items that the Company and/or Micro or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan or Awardee’s acquisition of Shares that cannot be satisfied by the means previously described. The Company Awardee acknowledges and agrees that should the amount of withholding for Tax-Related Items be in excess of the actual tax due, Micro and/or the Employer will refund the excess amount to him or her as soon as administratively practicable and without any interest. Micro may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant Awardee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: 2003 Equity Incentive Plan Restricted Stock Unit Award Agreement (Ingram Micro Inc), 2003 Equity Incentive Plan Restricted Stock Unit Award Agreement (Ingram Micro Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 2 contracts

Samples: Stock Option Agreement (Penumbra Inc), Stock Option Agreement (Realnetworks Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsPSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the PSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Allegion PLC), Performance Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(ba) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges You acknowledge that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant your employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-tax related items related to the Participant’s your participation in the Plan and legally applicable to the Participant you (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s your responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant You further acknowledges acknowledge that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsyour option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsyour option, the subsequent sale of Shares shares of Common Stock acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units your option to reduce or eliminate the Participant’s your liability for Tax-Related Items or achieve any particular tax result. The Participant shall You acknowledge and agree that you will not make any claim against the Company, the Employer or any other Subsidiaryof its Officers, Directors, Employees or their respective board, officers or employees related to Affiliates for Tax-Related Items arising from your option or your other compensation. In particular, you acknowledge that this Awardoption is exempt from Section 409A of the Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. FurthermoreFurther, if the Participant has become you are subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Option Agreement (Snowflake Inc.), Option Agreement (Snowflake Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant or Participant’s Employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Units, including, but not limited to, the grant, vesting or settlement of Restricted the Units, the issuance of Shares upon settlement of the Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant tax withholding event, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, if Participant is not subject to Section 16 of the Exchange Act, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, ; (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to upon settlement of the Restricted Share Units, Units either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentauthorization); (iii) withholding in Shares to be issued upon settlement of the Units; or (iv) withholding from requiring Participant to pay, by cash or certified check, the Shares amount necessary to satisfy Participant’s obligations with regard to Tax-Related Items. Notwithstanding the foregoing, if Participant is subject to Restricted Share Section 16 of the Exchange Act, such Participant may satisfy the obligations with regard to Tax-Related Items, in whole or in part, by either (i) electing to have the Company withhold in Shares to be issued upon settlement of the Units; and/or or (vii) paying, by cash or certified check, the amount necessary to satisfy such Participant’s obligations with regard to Tax-Related Items. In any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodcase, to avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The the Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Global Award Agreement (Motorola Mobility Holdings, Inc), Restricted Stock Unit Global Award Agreement (Motorola Mobility Holdings, Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax TaxRelated Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the RSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Allegion PLC), Restricted Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Loyalty Ventures Inc.), Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: 2020 Arconic Stock Incentive Plan Restricted Share Unit Award Agreement, 2020 Arconic Stock Incentive Plan Restricted Share Unit Award Agreement

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Optionee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Optionee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) ), is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Exercised Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Optionee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by means of one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Exercised Shares acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantOptionee’s behalf pursuant to this authorization authorization) without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Optionee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Optionee agrees to pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Stock Option Agreement (Echelon Corp), Stock Option Agreement (Echelon Corp)

Responsibility for Taxes. This provision The following section replaces paragraph 6 Section 3 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). in its entirety: The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsShares, including, but not limited to, the grant, grant or vesting or settlement of the Restricted Shares UnitsShares, the subsequent sale of Shares shares of common stock acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Shares to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Employee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Employee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the followingfollowing methods: (i) requiring a cash payment from by the ParticipantEmployee to the Company, on demand, by cash, check or other method of payment as may be determined acceptable by the Company; (ii) withholding from the ParticipantEmployee’s wages or other cash compensation paid to the Participant Employee by the Company and/or the Employer, ; (iii) withholding from the proceeds of the sale of Shares acquired pursuant to shares of common stock at vesting of the Restricted Share Units, Shares either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantEmployee’s behalf pursuant to this authorization authorization) without further consent); or (ivii) withholding from shares of common stock at vesting of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawShares. Depending on the withholding method, the Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share common stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of common stock, for tax purposes, the Employee is deemed to have been issued the full number of Shares shares of common stock subject to the vested Restricted Shares UnitsShares, notwithstanding that a number of the Shares is shares of common stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Employee agrees to pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantEmployee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares shares of common stock, if the Participant Employee fails to comply with his or her the Employee’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Agreement Qualified Retirement (Group 1 Automotive Inc), Restricted Stock Agreement (Group 1 Automotive Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance RSUs, including, but not limited toto the grant of the Performance RSUs, the grant, vesting or settlement of Restricted the Performance RSUs, the issuance of Shares Unitsin settlement of the Performance RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Performance RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items Items, if any, by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Global Key Employee Restricted Stock Unit Grant Agreement (Starbucks Corp), Employee Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of the Award Agreement Agreement, no certificate representing the Shares will be issued to Participant, unless and until satisfactory arrangements (except if as determined by the Administrator) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant or deemed by the Company or Participant’s employer (the “Employer”) in its discretion to be an appropriate charge to Participant even if legally applicable to the Company or the Employer (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by which the Company determines must be withheld with respect to the Option or the Employersuch Shares. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to upon exercise of the Restricted Share Unit Option and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges and agrees that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Stock Option Award Agreement (Cyan Inc), Equity Incentive (Cyan Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company orand/or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, or deemed by the Company or the Employer in its discretion to be an appropriate charge to the Participant even if legally applicable to the Company or the Employer (collectively, “Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe grant of Purchase Rights, including, including but not limited to, the grant, vesting or settlement purchase of Restricted Shares Unitsshares of Stock, the subsequent sale of Shares shares of Stock acquired pursuant to under the Restricted Share Unit and Plan or the receipt of any dividends or dividend equivalents; dividends, and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant of the Purchase Rights or any aspect of the Restricted Share Units Participant’s Plan participation to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant the taxable or tax withholding event, as applicable, the Participant will agrees to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their any withholding obligations with regard to for all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s any wages or other cash compensation paid to the Participant by the Company and/or the Employer. Alternatively, or in addition, if permissible under local law, the Participant authorizes the Company and/or the Employer, or their respective agents, to (iiii) withholding withhold from the proceeds of the sale of Shares shares of Stock acquired pursuant to by the Restricted Share UnitsParticipant upon purchase, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization authorization, without further consent); , or (ivii) withhold shares of Stock to be issued upon purchase, provided, however, that withholding from the Shares in shares shall be subject to Restricted Share Units; and/or (v) any other method of withholding determined approval by the Company and permitted Compensation Committee to the extent deemed necessary or advisable by applicable law. Depending on the withholding method, counsel to the Company at the time of any relevant tax withholding event. The Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable ratesrates in the Participant’s jurisdiction, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Stock equivalent) or; provided, if not refundedhowever, that where the application of such maximum rates would, in the Company’s determination, result in adverse accounting consequences to the Company, the Participant may seek a refund from Company shall withhold only amounts sufficient to meet the local tax authoritiesminimum statutory Tax-Related Items required to be withheld or remitted with respect to the Participant’s participation in the Plan. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Stock, for tax purposes, the Participant is deemed to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Unitspurchase, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue purchase or deliver the Shares shares or the proceeds of the sale of Shares shares of Stock, if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: 2004 Employee Stock Purchase Plan (SALESFORCE.COM, Inc.), 2004 Employee Stock Purchase Plan (Salesforce Com Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Optionee’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, including but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Options, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Options to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become Optionee is subject to tax in more than one jurisdiction, the Participant he or she acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to exercise of the Options or any other relevant taxable or tax withholding event, as applicable, the Participant will Optionee must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at in their sole discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Option Grant Agreement (Starbucks Corp), Stock Option Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 paragraphs 12 through 15 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of a Section 16(b) of the Securities Exchange Act of 1934, as amended16 Insider). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Stock Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Stock Option, the subsequent sale of Shares acquired pursuant to upon exercise of the Restricted Share Unit Stock Option and the receipt of any dividends or dividend equivalentsdividends; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Stock Option or any aspect of the Restricted Share Units Stock Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Awardthe Stock Option. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Option, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method be issued upon exercise of withholding determined by the Company and permitted by applicable lawStock Option. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to upon exercise of the vested Restricted Shares UnitsStock Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs employing the Participant Employee (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and may exceed the amount actually to be withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Employee is subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to If any relevant taxable or tax withholding eventis required when Shares are issued as payment for vested Restricted Stock Units or, in the discretion of the Company, at such earlier time as applicablethe Tax-Related Items are due, the Participant Company will withhold a portion of the Shares that has an aggregate market value sufficient to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regardaddition and to the maximum extent permitted by law, the Participant authorizes the Company and/or (or the Employer) has the right to retain without notice from any fees, salary or their respective agentsother amounts payable to the Employee, at their discretion, cash having a sufficient value to satisfy their withholding obligations with regard to all any Tax-Related Items by one that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid that are due prior to the Participant by issuance of Shares under the Restricted Stock Unit Award. Notwithstanding the foregoing, the Company, in its sole discretion, may require the Employee to make alternate arrangements satisfactory to the Company and/or the Employerfor payment of such Tax-Related Items before they arise. To avoid negative tax consequences, (iii) if Tax-Related Items are satisfied by withholding from the proceeds of the sale of in Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodotherwise issuable, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or. In addition, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Employee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Restricted Stock Units. FinallyNotwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Participant shall pay Company) have been made by the Employee with respect to the Company and/or the Employer payment of any amount of Tax-Related Items that the Company and/or determines must be withheld or collected with respect to the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsRestricted Stock Units.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Quantum Corp /De/), Restricted Stock Unit Agreement (Quantum Corp /De/)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Service Recipients take with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the EmployerService Recipients. The Participant Optionee further acknowledges that the Company and/or the Employer Service Recipients (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, but not limited to, the grant, vesting or settlement exercise of Restricted the Options, the delivery of Shares Unitsupon exercise of the Options, the subsequent sale of Shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Options or any aspect of the Restricted Share Units Options to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, the Participant Optionee acknowledges that the Company and/or the Employer Service Recipients (or former employerthe Subsidiary or Affiliate formerly employing or retaining the Optionee, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer Service Recipients to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the EmployerService Recipients, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Stock Option Agreement, Stock Option Agreement (Gardner Denver Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: www.sec.gov, Award Agreement (Apple Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Grantor and/or Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items legally due by Participant is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company Grantor and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, including the grant, vesting or settlement and exercise of Restricted Shares Unitsthe Option, the delivery of shares of Common Stock, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdictionItems. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company Grantor and/or the Employer to satisfy all Tax-Related ItemsItems withholding obligations of the Grantor and/or the Employer. In this regard, the Participant authorizes the Company Grantor and/or the Employer to withhold all applicable Tax-Related Items legally payable by Participant from any wages or other cash compensation paid to Participant by the Grantor and/or the Employer. Alternatively, or in addition, Participant authorizes the Grantor and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding the obligations with regard to all Tax-Related Items legally payable by Participant by one or a combination of the following: (i) requiring a cash payment from withholding otherwise deliverable shares of Common Stock, provided that the ParticipantGrantor only withholds the amount of shares of Common Stock necessary to satisfy the minimum statutory withholding amount; and (ii) withholding from arranging for the sale of shares of Common Stock otherwise deliverable to Participant (on Participant’s wages or other cash compensation paid behalf and at Participant’s direction pursuant to the Participant by the Company and/or the Employer, (iiithis authorization) and withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesshares. If the obligation for Tax-Related Items is satisfied by withholding in Sharesa number of shares of Common Stock as described herein, the Participant is deemed, for tax purposes, deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares UnitsOption, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Option. Finally, the Participant shall pay to the Company Grantor and/or the Employer any amount of Tax-Related Items that the Company Grantor and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company Grantor may refuse to issue or deliver the Shares or the proceeds to Participant any shares of the sale of Shares Common Stock pursuant to Participant’s Option if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related ItemsItems as described in this section.

Appears in 2 contracts

Samples: www.sec.gov, Stock Option Grant Agreement (WABCO Holdings Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Apple Inc.), Restricted Stock Unit Award Agreement (Apple Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any and all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), you hereby acknowledge and agree that the ultimate liability for any and all Tax-Related Items is and remains the Participant’s your responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges liability and that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance Awards, including, but not limited toincluding the grant or vesting of the Performance Awards, the grant, vesting or issuance of shares of Common Stock upon settlement of Restricted Shares Unitsvested Performance Awards, and the subsequent sale of Shares the shares of Common Stock acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentssuch issuance; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Performance Awards to reduce or eliminate the Participant’s your liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Unless the Company, the Employer Company or any other SubsidiaryAffiliate directs that it shall not, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges each Award shall include a requirement that you irrevocably agree that the Company and/or the Employer or any Affiliate (or former employer, as applicableappropriate) may recover the whole or any part of any employer taxes from you and at the request of the Company or any Affiliate (as appropriate) you shall elect (using a form approved by HM Revenue & Customs) that the whole or any part of the liability for employer taxes shall be transferred to you. The Company or any Affiliate may decide to release you from or not to enforce any part of your obligations in respect of employer taxes under this Section 9. An Award shall include a requirement that you irrevocably agree to enter into a joint election, under section 431(1) or section 431(2) of the United Kingdom Income Tax (Earnings and Xxxxxxxx) Xxx 0000 in respect of the Common Stock to be acquired pursuant to the Award if required to withhold do so by the Company or account for Tax-Related Items in more than one jurisdictionany Affiliate before any Common Stock is issued to you under the Plan. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Itemswithholding obligations of the Company and/or the Employer. In this regard, the Participant authorizes you authorize the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items legally payable by one or a combination of the following: (i) requiring a cash payment you from the Participant; (ii) withholding from the Participant’s your wages or other cash compensation paid to the Participant you by the Company and/or the Employer, (iii) withholding Employer or from the proceeds of the sale of Shares shares of Common Stock acquired pursuant to upon vesting/settlement of the Restricted Share UnitsPerformance Awards. Alternatively, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable in addition, if permissible under local law. Depending on the withholding method, the Company may withhold (i) sell or account arrange for Tax-Related Items by considering applicable minimum statutory the sale of shares of Common Stock that you acquire in settlement of the Performance Awards to meet the withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items Items, and/or (ii) withhold in shares of Common Stock, provided that the Company and/or the Employer only withholds the amount of Common Stock necessary to satisfy the minimum withholding requirement. Any estimated withholding which is satisfied by withholding not required in Shares, the Participant is deemed, for tax purposes, to have been issued the full number satisfaction of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the any Tax-Related ItemsItems will be repaid to you by the Company and/or the Employer within a reasonable time and without interest. Finally, the Participant you shall pay to the Company and/or the Employer any amount of any Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s your participation in the Plan or from the grant, vesting, or settlement of the Performance Awards that cannot be satisfied by the means previously described. The Company may refuse to issue shares of Common Stock in settlement of the Performance Awards, or may refuse to deliver the Shares or the proceeds of the sale of Shares such Common Stock, if the Participant fails you fail to comply with his or her your obligations in connection with the Tax-Related ItemsItems as described in this Section. You acknowledge and agree that the Company is making no representation or warranty as to the tax consequences to you as a result of the receipt of the Performance Awards, the lapse of any Forfeiture Restrictions, or the forfeiture of any Performance Awards pursuant to the Forfeiture Restrictions.

Appears in 2 contracts

Samples: Performance Award Agreement, Performance Award Agreement (Cirrus Logic Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by YUM! or the Company or, Participant’s employer (if different, the Subsidiary that employs the Participant ) (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and that are legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and that such liability may exceed the amount actually withheld by the Company YUM! or the Employer. The Participant further acknowledges that the Company YUM! and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe YUM! Stock Appreciation Right, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe YUM! Stock Appreciation Right, the subsequent sale of Shares shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units YUM! Stock Appreciation Right to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become becomes subject to tax and/or social security contributions in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant acknowledges that the Company YUM! and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or taxable, tax and/or social security contribution withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company YUM! and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company YUM! and/or the Employer, or their respective agents, at their sole discretion, to satisfy their withholding the obligations with regard respect to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant him or her by the Company YUM! and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares acquired pursuant to upon exercise of the Restricted Share UnitsYUM! Stock Appreciation Right, either through a voluntary sale or through a mandatory sale arranged by the Company YUM! (on the Participant’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawYUM! Stock Appreciation Right. Depending on the withholding methodTo avoid negative accounting treatment, the Company may will withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares, for tax purposes, the Participant will be deemed to have been issued the full number of Shares shares subject to the vested Restricted Shares Unitsexercised YUM! Stock Appreciation Right, notwithstanding that a number of the Shares is shares are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or YUM! or the Employer any amount of Tax-Related Items that the Company and/or YUM! or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan or the Participant’s acquisition of shares upon exercise of the YUM! Stock Appreciation Right that cannot be satisfied by the means previously described. The Company YUM! may refuse to honor the exercise and refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares the shares to the Participant if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Term Incentive Plan (Yum Brands Inc), Term Incentive Plan (Yum Brands Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant and/or Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting vesting, settlement, release or cancellation of the PSUs, the issuance of Shares upon settlement of Restricted Shares Unitsthe PSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalents; dividends, and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. For purposes of this section, any reference to Employer shall include any former employer, if applicable. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all the Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, Employer (or their respective agents), at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all the Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Performance Stock Unit Award Agreement (Ebay Inc), Performance Stock Unit Award Agreement (Ebay Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Grantor and/or Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items legally due by Participant is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company Grantor and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Award, including the grant of the Restricted Shares Stock Units, including, but not limited tothe vesting of the Restricted Stock Units, the grant, vesting or settlement delivery of Restricted Shares Unitsshares of Common Stock, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends Dividend Equivalents or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdictionItems. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company Grantor and/or the Employer to satisfy all Tax-Related ItemsItems withholding obligations of the Grantor and/or the Employer. In this regard, the Participant authorizes the Company Grantor and/or the Employer to withhold all applicable Tax-Related Items legally payable by Participant from any wages or other cash compensation paid to Participant by the Grantor and/or the Employer. Alternatively, or in addition, Participant authorizes the Grantor and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding the obligations with regard to all Tax-Related Items legally payable by Participant by one or a combination of the following: (i) requiring a cash payment from withholding otherwise deliverable shares of Common Stock, provided that the ParticipantGrantor only withholds the amount of shares of Common Stock necessary to satisfy the minimum withholding amount; and (ii) withholding from arranging for the sale of shares of Common Stock otherwise deliverable to Participant (on Participant’s wages or other cash compensation paid behalf and at Participant’s direction pursuant to the Participant by the Company and/or the Employer, (iiithis authorization) and withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesshares. If the obligation for Tax-Related Items is satisfied by withholding in Sharesa number of shares of Common Stock as described herein, the Participant is deemed, for tax purposes, deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares UnitsAward, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Award. Finally, the Participant shall pay to the Company Grantor and/or the Employer any amount of Tax-Related Items that the Company Grantor and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company Grantor may refuse to issue or deliver the Shares or the proceeds to Participant any shares of the sale of Shares Common Stock pursuant to Participant’s Award if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related ItemsItems as described in this section.

Appears in 2 contracts

Samples: Restricted Unit Grant Agreement (American Standard Companies Inc), Restricted Unit Grant Agreement (WABCO Holdings Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company orCorporation or Optionee’s Employer takes with respect to any or all Tax-Related Items, if different, the Subsidiary Optionee acknowledges that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company Corporation or the Employer. The Participant Optionee further acknowledges that the Company Corporation and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe option, the subsequent sale of shares of Option Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company Corporation and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company Corporation and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company Corporation and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company Corporation and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares of Common Stock acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company Corporation (on the ParticipantOptionee’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares of Common Stock to be issued at exercise of the Shares subject to Restricted Share Units; and/or (v) Option. To avoid any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodnegative accounting treatment, the Company Corporation may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Common Stock, for tax purposes, Optionee is deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares Unitsexercised Options, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Optionee’s participation in the Plan. Finally, the Participant Optionee shall pay to the Company and/or Corporation or the Employer any amount of Tax-Related Items that the Company and/or Corporation or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company Corporation may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares shares of Common Stock if the Participant Optionee fails to comply with his or her Optionee’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: www.sec.gov, Stock Option Agreement (Amyris Biotechnologies Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Apple Inc), Restricted Stock Unit Award Agreement (Apple Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insuranceNICs, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), Option Holder acknowledges that the ultimate liability for all Tax-Related Items legally due by Option Holder is and remains the ParticipantOption Holder’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOption Holder’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdictionItems. Prior to any relevant taxable or tax withholding eventexercise of the Option, as applicable, the Participant will Option Holder shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Itemswithholding and payment on account obligations of the Company and/or the Employer. In this regard, the Participant Option Holder authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items legally payable by one or a combination of the following: (i) requiring a cash payment Option Holder from the Participant; (ii) withholding from the ParticipantOption Holder’s wages or other cash compensation paid to the Participant Option Holder by the Company and/or the Employer, (iii) withholding Employer or from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Unitsshares. Alternatively, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable in addition, if permissible under local law. Depending on the withholding method, the Company may withhold (1) sell or account arrange for Tax-Related Items by considering applicable minimum statutory the sale of shares that Option Holder acquires to meet the withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by Items, and/or (2) withhold in shares, provided that the Company only withholds the amount of shares necessary to satisfy the minimum withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Itemsamount. Finally, the Participant Option Holder shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantOption Holder’s participation in the Sub Plan or Option Holder’s purchase of shares that cannot be satisfied by the means previously described. The Company may refuse to issue or honor the exercise and refuse to deliver the Shares or the proceeds of the sale of Shares shares if the Participant Option Holder fails to comply with his or her Option Holder’s obligations in connection with the Tax-Related ItemsItems as described in this section. Option Xxxxxx agrees and authorizes that any withholding, deduction or payment indicated above must occur within 90 days after the exercise, assignment or release of the Option or the receipt of a benefit in money or money’s worth in connection with the Option (the “Due Date”). In the event that the Company and/or the Employer are unable to withhold or collect any income tax, NICs or other withholding due by the Due Date, Option Holder agrees that the amount of uncollected tax shall constitute a loan owed by Option Holder to the Company and/or the Employer and interest will be charged at the Inland Revenue official rate of interest. Option Xxxxxx further agrees that the loan will be immediately repayable and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above. Option Xxxxxx also authorizes the Company to withhold the transfer of any shares unless and until the loan is repaid in full.

Appears in 2 contracts

Samples: Stock Option Agreement, Stock Option Letter Agreement (Netiq Corp)

Responsibility for Taxes. This provision replaces paragraph 6 Section 4 of the Award Agreement (except if the Participant is subject Exhibit A to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Agreement. The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee or deemed by the Company or the Employer to be an appropriate charge to the Optionee even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the issuance of shares of Class B Common Stock upon exercise of the Option, the subsequent sale of Shares shares of Class B Common Stock acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax tax-withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Non Statutory Stock Option Agreement (Nike Inc), Non Statutory Stock Option Agreement (Nike Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method the “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items that become payable in a year prior to the year in which shares of Stock are issued upon settlement of the Restricted Stock Units), or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.), Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Recipient acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), Employer the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantRecipient’s participation in the Plan and legally applicable to the Participant Recipient or deemed by the Company or the Employer to be an appropriate charge to the Recipient even if technically due by the Company or the Employer (“Tax-Related Items”) ), is and remains the ParticipantRecipient’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Recipient further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; any Dividend Equivalent Payment, and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the ParticipantRecipient’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Recipient is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Recipient acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Recipient agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Recipient authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Global Restricted Stock Unit Agreement (Nike Inc), Global Restricted Stock Unit Agreement (Nike Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Holder hereby acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary and agrees that employs the Participant (the “Employer”), the ultimate liability for any and all income tax, social insurance, insurance and payroll tax, fringe benefits tax, payment on account tax withholding legally payable by an employee or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant corporate officer under Applicable Law (including without limitation laws of foreign jurisdictions) (“Tax-Related Items”) is and remains the ParticipantHolder’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges liability and that the Company and/or the Employer Holder’s employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Units, the Option and the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsShares; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantHolder’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdictionItems. Prior to any relevant taxable or tax withholding eventexercise of the Option, as applicable, the Participant will Holder shall pay or make adequate arrangements satisfactory to the Company and/or the Employer Holder’s employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes withholding obligations of the Company and/or Holder’s employer. The Holder may provide that the Employer, payment to the Company (or their respective agents, at their discretion, other employer corporation) of all amounts which it is required to satisfy their withholding obligations withhold in connection with regard to all any Tax-Related Items by one or a combination related to the exercise of the following: Option be satisfied by any payment means described in Section 4.4 hereof, including without limitation, by allowing to have the Company or any Subsidiary withhold shares of Stock otherwise issuable under an Option (i) requiring a cash payment from or allow the Participant; (ii) withholding from the Participant’s wages surrender of shares of Stock). The number of shares of Stock which may be so withheld or other cash compensation paid surrendered shall be limited to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds number of the sale shares of Shares acquired pursuant to the Restricted Share Units, either through Stock which have a voluntary sale or through a mandatory sale arranged by the Company (fair market value on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method date of withholding determined by or surrender no greater than the Company and permitted by applicable law. Depending aggregate amount of such liabilities based on the maximum individual statutory tax rate in the applicable jurisdiction at the time of such withholding method, the Company may withhold (or account for Tax-Related Items by considering applicable minimum statutory withholding rates or such other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer rate as may be required to withhold or account for as a result avoid adverse accounting consequences). The Administrator shall determine the fair market value of the Participant’s participation shares of Stock, consistent with applicable provisions of the Code and other Applicable Law, for tax withholding obligations due in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of connection with a broker-assisted cashless Option exercise involving the sale of Shares if shares of Stock to pay the Participant fails to comply with his Option exercise price or her obligations in connection with the Tax-Related Itemsany tax withholding obligation.

Appears in 2 contracts

Samples: Incentive Award Plan (Bio-Rad Laboratories, Inc.), Qualified Stock Option Agreement (Bio Rad Laboratories Inc)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Award Agreement, no Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Award Agreement (except if the Administrator) will have been made by Participant is subject with respect to the shortpayment of Tax-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Related Items. The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs the employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s sole responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and exercise of the receipt of any dividends or dividend equivalents; Option, and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior The Administrator, in its sole discretion and pursuant to any relevant taxable such procedures as it may specify from time to time, may permit or tax withholding event, as applicable, the require Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all such Tax-Related Items. In this regard, the Participant authorizes in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company and/or withhold otherwise deliverable Shares, (c) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the EmployerCompany may determine in its sole discretion (whether through a broker or otherwise) and without further consent from Participant, (d) electing to have the Company or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment Employer withhold from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid payable to the Participant by the Company and/or the EmployerParticipant, or (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (ve) any other method of withholding determined by the Company and permitted by applicable lawApplicable Laws and the Plan. Depending on To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any withholding methodobligations or rights with regard to Tax-Related Items by means of method (b) above and, until determined otherwise by the Company, this will be the method by which such withholding obligations or rights with regard to Tax-Related Items are satisfied; provided, however, that if Participant is a Section 16 officer of the Company under the Exchange Act, the Company will, in all cases, satisfy any Tax-Related Items by means of method (b) above, unless the use of such withholding method is problematic under applicable tax or securities law or has materially adverse accounting consequences, in which case the obligation for Tax-Related Items may be satisfied by one or a combination of the other methods above. The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including minimum or maximum rates applicable ratesin Participant’s jurisdiction(s). In the event of over-withholding, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) orequivalent in Shares), or if not refunded, the Participant may be able to seek a refund from the local tax authorities. In the even of under-withholding, Participant may be required to pay additional Tax Related Items directly to the applicable tax authority. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercise of the Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her Participant’s obligations in connection with the for Tax-Related Items.

Appears in 2 contracts

Samples: Equity Incentive Plan (Palo Alto Networks Inc), Award Agreement (Palo Alto Networks Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, and/or the Parent or Subsidiary that employs the Participant employing Grantee (the “Employer”), the ultimate liability for any and all income taxtax (including U.S. or non-U.S. federal, state, and/or local taxes), social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee or deemed by the Participant Company or the Employer in their reasonable discretion to be an appropriate charge to Grantee even if legally applicable to the Company or Employer (“Tax-Related Items”) is and remains the ParticipantGrantee’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance Shares, including, but not limited toincluding the grant of the Performance Shares, the grantvesting of Performance Shares, vesting or the settlement of Restricted Shares Unitsthe Performance Shares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Performance Shares to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding any contrary provision of this Agreement, no payment pursuant to the Performance Shares will be made to Grantee, unless and until satisfactory arrangements (as determined by 1 For the purposes of this Agreement, the phrase “Grantee’s country” refers to any country whose laws and regulations apply to Grantee during the relevant taxable or tax withholding eventtime period, as applicabledetermined by the Company in its sole discretion. Grantee should speak with his or her personal legal and tax advisor for more information as to which countries this phrase may include, based on Grantee’s personal circumstances. the Participant will pay or make adequate arrangements satisfactory Administrator) have been made by Grantee with respect to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to payment of all Tax-Related Items which the Company determines must be withheld with respect to the Performance Shares. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may require Grantee to satisfy withholding obligations for Tax-Related Items, in whole or in part, by one or a combination more of the following: following (iwithout limitation): (a) requiring a cash payment from the Participant; paying cash, (iib) withholding from the ParticipantGrantee’s wages or other cash compensation paid to the Participant Grantee by the Company and/or the Employer, (iiic) withholding from the proceeds selling a sufficient number of the sale of such Shares acquired pursuant otherwise deliverable to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantee (on the ParticipantGrantee’s behalf pursuant to this authorization without further consent) through such means as the Company may determine in its sole discretion (whether through a broker or otherwise); , or (ivd) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method otherwise deliverable Shares, provided, however, that if Grantee is a Section 16 officer of withholding determined by the Company and permitted under the Exchange Act, then the obligation for Tax-Related Items will be satisfied only by applicable lawone or a combination of methods (a) through (c) above. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding ratesrates in Grantee’s country, including maximum applicable rates, in which case the Participant Grantee may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Grantee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsPerformance Shares, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Performance Shares. Finally, the Participant shall pay Notwithstanding anything in this section to the Company and/or contrary, to avoid a prohibited distribution under Section 409A of the Employer Code, if Shares underlying the Performance Shares will be withheld (or sold on Grantee’s behalf) to satisfy any amount of Tax-Related Items that arising prior to the Company and/or the Employer may be required to withhold or account for as a result date of settlement of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Performance Shares or the proceeds for any portion of the sale Performance Shares that is considered “nonqualified deferred compensation” subject to Section 409A of the Code, the number of Shares if withheld (or sold on Grantee’s behalf) shall not exceed the Participant fails to comply with his or her obligations in connection with number of Shares that equals the liability for the Tax-Related Items. If Grantee fails to make satisfactory arrangements for the payment of any Tax-Related Items hereunder, Grantee will permanently forfeit such Shares and the Shares will be returned to the Company at no cost to the Company.

Appears in 2 contracts

Samples: Performance Share Agreement (Maxim Integrated Products Inc), Performance Share Agreement (Maxim Integrated Products Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Grantor and/or Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company Grantor or the Employer. The Participant further acknowledges that the Company Grantor and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Award, including the grant of the Restricted Shares Units, including, but not limited tothe vesting of the Restricted Units, the grant, vesting or settlement delivery of Restricted Shares Unitsshares of Common Stock, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends Dividend Equivalents or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax resultItems. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant acknowledges that the Company Grantor and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Notwithstanding anything to the contrary in this Section 4(a), the right of the Grantor or the Employer to withhold any Tax-Related Items for any portion of the Award that is considered deferred compensation subject to Code Section 409A shall be limited to the minimum amount permitted to avoid a prohibited acceleration under Code Section 409A. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company Grantor and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company Grantor and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid otherwise payable to the Participant by the Company Grantor and/or the Employer, (iii) ; and/or • withholding from the proceeds of the sale of Shares shares of Common Stock acquired pursuant to upon vesting of the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantor (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Unitsauthorization; and/or (v) any other method • withholding in shares of withholding determined by Common Stock to be issued upon vesting of the Company and permitted by applicable lawRestricted Units. Depending on the withholding methodTo avoid negative accounting treatment, the Company Grantor may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Common Stock, for tax purposes, Participant will be deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or Grantor or the Employer any amount of Tax-Related Items that the Company and/or Grantor or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company Grantor may refuse to issue or deliver to Participant any shares of Common Stock pursuant to the Shares or the proceeds of the sale of Shares Award if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related ItemsItems as described in this section.

Appears in 2 contracts

Samples: Restricted Unit Grant Agreement (WABCO Holdings Inc.), Restricted Unit Grant Agreement for Employees (WABCO Holdings Inc.)

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Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsPSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the PSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the PSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Allegion PLC), Performance Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”)Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant or deemed by the Company in its discretion to be an appropriate charge to Participant even if legally applicable to the Company (“Tax-Related Items”) ), is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the EmployerCompany. The Participant further acknowledges that the Company and/or the Employer (a) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (b) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. Under current tax law, Participant is treated as an “independent contractor” for tax purposes, and as such, Participant is responsible to pay his or her Tax-Related Items without involvement by the Company. However, to the extent it becomes necessary or appropriate for the Company to assist in the collection of Participant’s Tax-Related Items, full payment of the Tax-Related Items shall be made by any of the following, or a combination thereof, subject to the Committee’s or Company’s right to eliminate, prior to vesting, any of the following as permissible payment methods: (i) in cash or cash equivalents (including certified check, bank check or wire transfer of immediately available funds); (ii) by tendering previously acquired Shares (either actually or by attestation) valued at their then-Fair Market Value; (iii) by withholding Shares otherwise issuable in connection with the vesting of the RSUs; (iv) through same-day voluntary or involuntary (on Participant’s behalf pursuant to this authorization) sales through a broker if permitted by the Company’s Securities Trading Policy; (v) withholding from Participant’s wages or other cash compensation paid to Participant by the Company; or (vi) any combination of any of the foregoing. In this regardthe absence of Participant’s timely election or in the event Section 16(b) applies to Participant and withholding of Tax-Related items is necessary, the Company will withhold in Shares upon the relevant taxable or tax withholding event, as applicable. In the event that such withholding in Shares is problematic under applicable tax or securities law or has materially adverse accounting consequences, Participant authorizes and directs the Company and/or the Employer, or their respective its agents, at their discretion, to satisfy their any applicable withholding obligations obligation with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawmethods above. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates in Participant’s jurisdiction(s) (up to the rate that will not cause an adverse accounting consequence or other applicable withholding ratescost, including maximum applicable ratespursuant to ASC Topic 718, in which case as applicable). If the Company withholds more than the amount necessary to satisfy the liability for Tax-Related Items, Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) orequivalent Shares, or if not refunded, the Participant may be able to seek a refund from the local applicable tax authorities. If the Company withholds less than the amount necessary to satisfy the liability for Tax-Related Items, Participant may be required to pay additional Tax-Related Items directly to the applicable tax authorities or to the Company. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall agrees to pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Nu Skin Enterprises, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant and/or Participant's employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s 's participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s 's responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting vesting, settlement, release or cancellation of the RSUs, the issuance of Shares upon settlement of Restricted Shares Unitsthe RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalents; dividends, and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s 's liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. For purposes of this section, any reference to Employer shall include any former employer, if applicable. A-2 Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all the Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, Employer (or their respective agents), at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all the Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Award Agreement

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(ba) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax Tax-Related Items in more than one jurisdictionjurisdiction 3 between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. (b) Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to upon settlement of the Restricted Share Units, Stock Units either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in Shares to be issued upon vesting of the Shares subject to Restricted Share Stock Units; and/or (v) any other method , provided, however, that if the Participant is a Section 16 officer of withholding determined by the Company under the Exchange Act, then the Company will withhold in Shares upon the relevant taxable or tax withholding event, as applicable, unless the use of such withholding method is problematic under applicable tax or securities law or has materially adverse accounting consequences, in which case, the obligation for Tax-Related Items may be satisfied by one or a combination of methods (i) and permitted by applicable law(ii) hereof. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other up to the maximum rates applicable withholding rates, including maximum applicable ratesin the Participant’s jurisdiction, in which case case, under withholding method 8(b)(ii) or (iii) hereof, the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. (c) Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items. 9.

Appears in 1 contract

Samples: Performance Share Unit Agreement

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”)Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerCompany. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their its respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the EmployerCompany, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Non Employee Director Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Award Agreement, no Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Award Agreement (except if the Administrator) will have been made by Participant is subject with respect to the shortpayment of Tax-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Related Items. The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs the employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s sole responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the 1 Section 409A applies to and is relevant only for Participants who are U.S. taxpayers. Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior The Administrator, in its sole discretion and pursuant to any relevant taxable such procedures as it may specify from time to time, may permit or tax withholding event, as applicable, the require Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all such Tax-Related Items. In this regard, the Participant authorizes in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company and/or withhold otherwise deliverable Shares, (c) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the EmployerCompany may determine in its sole discretion (whether through a broker or otherwise) and without further consent from Participant, (d) electing to have the Company or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment Employer withhold from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid payable to the Participant by the Company and/or the EmployerParticipant, or (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (ve) any other method of withholding determined by the Company and permitted by applicable lawApplicable Laws and the Plan. Depending on To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any withholding methodobligations or rights with regard to Tax-Related Items by means of method (b) above and, until determined otherwise by the Company, this will be the method by which such withholding obligations or rights with regard to Tax-Related Items are satisfied; provided, however, that if Participant is a Section 16 officer of the Company under the Exchange Act, the Company will, in all cases, satisfy any Tax-Related Items by means of method (b) above, unless the use of such withholding method is problematic under applicable tax or securities law or has materially adverse accounting consequences, in which case the obligation for Tax-Related Items may be satisfied by one or a combination of the other methods above. The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including minimum or maximum rates applicable ratesin Participant’s jurisdiction(s). In the event of over-withholding, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) equivalent in Shares), or, if not refunded, the Participant may be able to seek a refund from the local tax authorities. In the event of under-withholding, Participant may be required to pay additional Tax-Related Items directly to the applicable tax authority. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, If Participant fails to make satisfactory arrangements for the Participant shall pay to the Company and/or the Employer payment of any amount of Tax-Related Items that hereunder at the Company and/or the Employer may be required time any applicable Restricted Stock Units otherwise are scheduled to withhold vest pursuant to Sections 3 or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue 4 or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsItems related to Restricted Stock Units otherwise are due, Participant will permanently forfeit such Restricted Stock Units and any right to receive Shares thereunder and the Restricted Stock Units will be returned to the Company at no cost to the Company.

Appears in 1 contract

Samples: Global Restricted Stock Unit Award Agreement (Palo Alto Networks Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Optionee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to Optionee or deemed by the Participant Employer to be an appropriate charge to Optionee even if technically due by the Employer (“Tax-Related Items”) ), is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company Micro or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option grant, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Optionee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Optionee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretionsole discretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to upon exercise of the Restricted Share UnitsOption, either through a voluntary sale or through a mandatory sale arranged by the Company Micro (on the ParticipantOptionee’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Optionee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Optionee will pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan or Optionee’s acquisition of Shares that cannot be satisfied by the means previously described. The Company Micro may refuse to honor the exercise and refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: 2011 Incentive Plan (Ingram Micro Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: 3 (i) requiring a cash payment from the Participant; (iia) withholding from the Participant’s any wages or other cash compensation paid payable to the Participant by the Company and/or the Employer; (b) withholding otherwise deliverable Shares and/or from otherwise payable Dividend Equivalent Rights to be issued or paid upon vesting/settlement of the Award; (c) arranging for the sale of Shares otherwise deliverable to the Participant (on the Participant’s behalf and at the Participant’s direction pursuant to this authorization), including selling Shares as part of a block trade with other Participants in the Plan; or (iiid) withholding from the proceeds of the sale of Shares acquired upon vesting/settlement of the Award. Notwithstanding the foregoing, if the Participant is an officer of the Company who is subject to Section 16 of the Exchange Act, then the Company must satisfy any withholding obligations arising upon the occurrence of a taxable or tax withholding event, as applicable, by withholding Shares otherwise deliverable or an amount otherwise payable upon settlement of Dividend Equivalent Rights pursuant to method (b), unless the Restricted Share UnitsBoard or the Committee determines in its discretion to satisfy the obligation for Tax-Related Items by one or a combination of methods (a), either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentb); , (ivc), and (d) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawabove. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates. If the maximum rate is used, in which case the Participant may receive a refund of any over-withheld amount will be refunded to the Participant in cash by the Company or Employer (with no entitlement to the Share Common Stock equivalent) or, or if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemeda number of Shares as described herein, for tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the The Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver to the Participant any Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items. 12.

Appears in 1 contract

Samples: www.sec.gov

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, and/or the Parent or Subsidiary that employs the Participant employing Grantee (the “Employer”), the ultimate liability for any and all income taxtax (including U.S. and non-U.S. federal, state, and/or local taxes), social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee or deemed by the Participant Company or the Employer in their reasonable discretion to be an appropriate charge to Grantee even if legally applicable to the Company or Employer (“Tax-Related Items”) is and remains the ParticipantGrantee’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance Shares, including, but not limited toincluding the grant of the Performance Shares, the grantvesting of Performance Shares, vesting or the settlement of Restricted Shares Unitsthe Performance Shares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Performance Shares to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to Notwithstanding any relevant taxable or tax withholding eventcontrary provision of this Agreement, as applicable, the Participant will pay or make adequate arrangements satisfactory no payment pursuant to the Company and/or Performance Shares will be made to Grantee, unless and until satisfactory arrangements (as determined by the Employer Administrator) have been made by Grantee with respect to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to payment of all Tax-Related Items which the Company determines must be withheld with respect to the Performance Shares. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may require Grantee to satisfy withholding obligations for Tax-Related Items, in whole or in part, by one or a combination more of the following: following (iwithout limitation): (a) requiring a cash payment from the Participant; paying cash, (iib) withholding from the ParticipantGrantee’s wages or other cash compensation paid to the Participant Grantee by the Company and/or the Employer, (iiic) withholding from the proceeds selling a sufficient number of the sale of such Shares acquired pursuant otherwise deliverable to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantee (on the ParticipantGrantee’s behalf pursuant to this authorization without further consent) through such means as the Company may determine in its sole discretion (whether through a broker or otherwise); , or (ivd) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method otherwise deliverable Shares, provided, however, that if Grantee is a Section 16 officer of withholding determined by the Company and permitted under the Exchange Act, then the obligation for Tax-Related Items will be satisfied only by applicable lawone or a combination of methods (a) through (c) above. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding ratesrates in Grantee’s country, including maximum applicable ratesrates in Grantee’s jurisdiction(s), in which case the Participant Grantee may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Grantee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsPerformance Shares, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Performance Shares. Finally, the Participant shall pay Notwithstanding anything in this section to the Company and/or contrary, to avoid a prohibited distribution under Section 409A of the Employer Code, if Shares underlying the Performance Shares will be withheld (or sold on Grantee’s behalf) to satisfy any amount of Tax-Related Items that arising prior to the Company and/or the Employer may be required to withhold or account for as a result date of settlement of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Performance Shares or the proceeds for any portion of the sale Performance Shares that is considered “nonqualified deferred compensation” subject to Section 409A of the Code, the number of Shares if withheld (or sold on Grantee’s behalf) shall not exceed the Participant fails to comply with his or her obligations in connection with number of Shares that equals the liability for the Tax-Related Items. If Grantee fails to make satisfactory arrangements for the payment of any Tax-Related Items hereunder, Grantee will permanently forfeit such Shares and the Shares will be returned to the Company at no cost to the Company.

Appears in 1 contract

Samples: Performance Share Agreement (Maxim Integrated Products Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Optionee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs Affiliate employing or retaining the Participant (the “EmployerService Recipient”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-tax related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (the “Tax-Related Items”) is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the EmployerService Recipient. The Participant Optionee further acknowledges that the Company and/or the Employer Service Recipient (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Option Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Optionee acknowledges that the Company and/or the Employer Service Recipient (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or Optionee agrees to make adequate arrangements satisfactory to the Company and/or the Employer Service Recipient to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the EmployerService Recipient, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment withholding from the Participant; Optionee’s wages or other cash compensation, (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Option Shares acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantOptionee’s behalf pursuant to this authorization authorization) without further consent); , (iii) withholding Shares otherwise issuable to the Optionee upon exercise, and (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) through any other method of withholding determined deemed acceptable by the Company and permitted by applicable lawCommittee in accordance with the Plan. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Optionee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Optionee is deemed to have been issued the full number of Option Shares subject to the vested Restricted Shares Unitsexercised portion of the Option, notwithstanding that a number of the Option Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Optionee agrees to pay to the Company and/or or the Employer Service Recipient any amount of Tax-Related Items that the Company and/or or the Employer Service Recipient may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Option Shares or the proceeds of the sale of Shares Option Shares, if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Substitute Global Stock Option Agreement (SunEdison Semiconductor LTD)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance RSUs, including, but not limited toto the grant of the Performance RSUs, the grant, vesting or settlement of Restricted the Performance RSUs, the issuance of Shares Unitsin settlement of the Performance RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Performance RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.Global Key Employee Performance RSU Agreement

Appears in 1 contract

Samples: Employee Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting vesting, exercise, or settlement of Restricted the Option, the issuance of Shares Unitsupon settlement of the Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or and/or any dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable event, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Stock Option Award Agreement (Glu Mobile Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, or the Participant’s employer (if different, the Subsidiary that employs the Participant ) (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and Program that are legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and that such liability may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become becomes subject to tax and/or social security contributions in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or taxable, tax and/or social security contribution withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their sole discretion, to satisfy their withholding the obligations with regard respect to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant him or her by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to upon exercise of the Restricted Share UnitsOption, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (ivauthorization) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined xxxxxxx xxxxxxx policies implemented by the Company and permitted applicable to the Participant and to the xxxxxxx xxxxxxx rules set forth under Section 10(b) and Rule 10b-5 of the U.S. Securities Exchange Act of 1934; or (iii) withholding in Shares to be issued upon exercise of the Option. In the event any Tax-Related Items are recovered by applicable law. Depending on the withholding methodin Shares, to avoid negative accounting treatment, the Company may will withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Program. In the event Tax-Related Items are recovered by any of the other methods described in this Section 9, the Company or the Employer may withhold or account for Tax-Related Items by considering maximum applicable rates. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan Program or Participant’s purchase of Shares that cannot be satisfied by the means previously described. The Company may refuse to honor the exercise and refuse to issue or deliver the Shares or the proceeds of the sale of the Shares to the Participant if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Nonqualified Stock Option Award Agreement (Edwards Lifesciences Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regardTo satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs), the Company will withhold Shares otherwise issuable upon vesting of the RSUs. Alternatively, or in addition, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations obligations, if any, with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (iia) withholding from the Participant’s wages or other cash compensation paid payable to the Participant by the Company and/or Company, the Employer, or any Affiliate, (iiib) withholding from the proceeds of the sale of Shares acquired pursuant to upon vesting of the Restricted Share Units, RSUs either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); , (ivc) withholding from requiring Participant to tender a cash payment to the Shares subject to Restricted Share Units; Company or an Affiliate in the amount of the Tax-Related Items and/or (vd) any other method of withholding determined by the Company and to be permitted under the Plan and, to the extent required by applicable law. Depending on law or under the Plan, approved by the Committee; provided, however, that if Participant is an officer of the Company subject to Section 16 of the Exchange Act, the withholding methodmethods described in this Section 3(a), through (d) will only be used if the Committee (as constituted to satisfy Rule 16b-3 of the Exchange Act) determines, in advance of the applicable withholding event, that one of such withholding methods will be used in lieu of withholding Shares. The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable ratesrates in Participant’s jurisdiction(s). In the event of over-withholding, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) orequivalent amount in Shares), if not refundedfrom the Company or the Employer; otherwise, the Participant may be able to seek a refund from the local tax authorities. If In the obligation for event of under-withholding, Participant may be required to pay any additional Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject directly to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay applicable tax authority or to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously describedEmployer. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Global Restricted Stock Unit Award Agreement (Trane Technologies PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for or any of its Affiliates take with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerAffiliate, if any. The Participant further acknowledges that the Company and/or the Employer any Affiliate (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax Tax-Related Items in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) Affiliate may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or or the Employer Affiliate an amount equal to, or will make arrangements acceptable to the Company and the Affiliate to satisfy all any withholding obligation with respect to the Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employerits Affiliates, or their respective agents, at their discretion, to satisfy their any withholding obligations obligation with regard respect to all the Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid payable to the Participant by the Company and/or the Employer, Affiliate; (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to upon exercise of the Restricted Share Units, Option (either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentsale); or (iviii) withholding from in Shares to be issued upon exercise of the Shares subject Option; provided, however, that if the Participant is an Officer, the Committee (as constituted to Restricted Share Units; and/or (vsatisfy Rule 16b-3 of the Exchange Act) any other method shall approve the use of withholding determined by in Shares to the Company and permitted by applicable lawextent necessary or desirable to exempt the transaction under Rule 16b-3 of the Exchange Act. Depending on the withholding methodTo avoid any negative accounting treatment, the Company may or the Affiliate may, if necessary, withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedShares as described in (iii) above, for tax purposes, the Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercised portion of the Option, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for due as a result of any aspect of the Participant’s participation in the Plan that cannot be satisfied by the means previously describedPlan. The Company or the Affiliate may refuse to honor the exercise or refuse to issue or deliver the Shares or the proceeds of the sale of Shares if unless and until the Participant fails to comply with his or her obligations in connection has complied with the obligations related to Tax-Related ItemsItems described in this Section 6.

Appears in 1 contract

Samples: Equity Incentive Plan Option Agreement (Seagate Technology PLC)

Responsibility for Taxes. This provision replaces paragraph 6 Section 4 of the Award Agreement (except if the Participant is subject Exhibit A to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Agreement. The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee or deemed by the Company or the Employer to be an appropriate charge to the Optionee even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the issuance of shares of Class B Common Stock upon exercise of the Option, the subsequent sale of Shares shares of Class B Common Stock acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 6557803-v18\GESDMS Prior to any relevant taxable or tax tax-withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Stock Incentive Plan Non Statutory Stock Option Agreement (Nike Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Xxxxxxx acknowledges that, regardless of any action taken by the Company or, if different, and/or the Parent or Subsidiary that employs the Participant employing Grantee or for which Grantee is otherwise providing services (the “EmployerService Recipient”), the ultimate liability for any and all income taxtax (including U.S. and non-U.S. federal, state, and/or local taxes), social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee or deemed by the Participant Company or the Service Recipient in their reasonable discretion to be an appropriate charge to Grantee even if legally applicable to the Company or Service Recipient (“Tax-Related Items”) is and remains the ParticipantGrantee’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the EmployerService Recipient. The Participant Grantee further acknowledges that the Company and/or the Employer Service Recipient (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toincluding the grant of the Restricted Stock Units, the grantvesting of Restricted Stock Units, vesting or the settlement of the Restricted Shares Stock Units, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Grantee acknowledges that the Company and/or the Employer Service Recipient (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding any contrary provision of this Agreement, no certificate representing the Shares will be issued to any relevant taxable or tax withholding eventGrantee, unless and until satisfactory arrangements (as applicable, determined by the Participant will pay or make adequate arrangements satisfactory Administrator) have been made by Grantee with respect to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to payment of all Tax-Related Items which the Company determines must be withheld with respect to the Restricted Stock Units. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may require Grantee to satisfy any withholding obligations for Tax-Related Items, in whole or in part, by one or a combination more of the following: following (iwithout limitation): (a) requiring a cash payment from the Participant; paying cash, (iib) withholding from the ParticipantGrantee’s wages wages, salary or other cash compensation paid payable to the Participant Grantee by the Company and/or Company, the EmployerService Recipient or any other Parent or Subsidiary, (iiic) withholding from the proceeds selling a sufficient number of the sale of such Shares acquired pursuant otherwise deliverable to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantee (on the ParticipantGrantee’s behalf pursuant to this authorization without further consent) through such means as the Company may determine in its sole discretion (whether through a broker or otherwise); , or (ivd) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method otherwise deliverable Shares, provided, however, that if Grantee is a Section 16 officer of withholding determined by the Company and permitted under the Exchange Act, then any withholding obligation for Tax-Related Items will be satisfied only by applicable lawone or a combination of methods (a) through (c) above. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum rates applicable ratesin Grantee’s jurisdiction(s). In the event of over-withholding, in which case the Participant Grantee may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or), or if not refunded, the Participant Grantee may seek a refund from the local applicable tax authorities. In the event of under-withholding, Grantee may be required to pay additional Tax-Related Items directly to the applicable tax authorities or to the Company and/or Service Recipient. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Grantee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Restricted Stock Units. Finally, the Participant shall pay Notwithstanding anything in this section to the Company and/or contrary, to avoid a prohibited distribution under Section 409A of the Employer Code, if Shares underlying the Restricted Stock Units will be withheld (or sold on Grantee’s behalf) to satisfy any amount of withholding obligation for Tax-Related Items that arising prior to the Company and/or the Employer may be required to withhold or account for as a result date of settlement of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds Restricted Stock Units for any portion of the sale Restricted Stock Units that is considered “nonqualified deferred compensation” subject to Section 409A of the Code, the number of Shares if withheld (or sold on Grantee’s behalf) shall not exceed the Participant fails to comply with his or her obligations in connection with number of Shares that equals the liability for the Tax-Related Items. If Xxxxxxx fails to make satisfactory arrangements for the payment of any Tax-Related Items hereunder, Grantee will permanently forfeit such Shares and the Shares will be returned to the Company at no cost to the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Maxim Integrated Products Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Grantee’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax (including federal, state, local and non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to the Participant Grantee (“Tax-Related Items”) ), the Grantee acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility Elanco Performance-Based Award Agreement Granxxx’x xesponsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited toincluding the grant of the Performance-Based Award, the grant, vesting or settlement expiration of Restricted Shares Unitsthe Performance Period, the subsequent sale issuance of Shares acquired Shares, the transfer and issuance of Shares, the receipt of any cash pursuant to the Restricted Share Unit and Award, the receipt of any dividends or dividend equivalentsand the sale of any Shares acquired pursuant to this Award; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Furthermore, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Grantee becomes subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant the applicable taxable or tax withholding event, as applicable, the Participant will pay Grantee shall pay, or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Award Agreement (Elanco Animal Health Inc)

Responsibility for Taxes. This The following provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of supplements Section 16(b3(d) of the Securities Exchange Act of 1934, as amended)Restricted Stock Unit Award Agreement for Directors. The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”)Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerCompany. The Participant further acknowledges that the Company and/or the Employer (a) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, grant or vesting or settlement of Restricted Shares Units, the RSUs and the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such vesting and the receipt of any dividends or and/or dividend equivalents; and (b) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, jurisdiction and may seek evidence from the Participant will pay of his or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Itemsher residency for purposes of operating such withholding or payment on account. In this regardthe event that withholding in Shares is problematic under applicable tax or securities law or has materially adverse accounting consequences, the Participant authorizes the Company and/or the EmployerCompany, or their its respective agents, at their the Company’s discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages director fees or other cash compensation paid to the Participant by the Company and/or the Employer, Company; (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to upon vesting/settlement of the Restricted Share Units, RSUs either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentauthorization); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (INC Research Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs employing the Participant (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, including but not limited to, the grant, vesting or settlement of Restricted the RSUs, the issuance of Shares Unitsupon settlement of the RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsand/or any Dividend Equivalents; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Participant’s participation in the Plan to reduce or eliminate the Participant’s liability for Tax-Related Items or to achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become becomes subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, agents to satisfy their withholding the obligations with regard to all Tax-Related Items by withholding in Shares to be issued upon vesting/settlement of the RSU; provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount. Alternatively, should such method be impermissible or impractical in a particular jurisdiction, the Company may, in its sole discretion, use one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.following methods:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Servicesource International, Inc.)

Responsibility for Taxes. This The following provision replaces paragraph 6 supplements the Responsibility for Taxes section of the Award Agreement (except if Global Key Employee Restricted Stock Unit Grant Agreement: Without limitation to Responsibility for Taxes section of the Global Key Employee Restricted Stock Unit Grant Agreement, the Participant agrees that he or she is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability liable for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is Items and remains the Participant’s responsibility hereby covenants to pay all such Tax-Related Items as and may exceed the amount actually withheld when requested by the Company or the EmployerEmployer or by Her Majesty’s Revenue and Customs (“HMRC”) (or any other tax authority or any other relevant authority). The Participant further also agrees to indemnify and keep indemnified the Company and the Employer against any Tax-Related Items that they are required to pay or withhold on the Participant’s behalf or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on the Participant’s behalf. Notwithstanding the foregoing, if the Participant is an executive officer or director of the Company (within the meaning of Section 13(k) of the Exchange Act ), the Participant acknowledges that he or she may not be able to indemnify the Company or the Employer for the amount of any income tax not collected from or paid by the Participant, as it may be considered a loan. In this case, the amount of any income tax not collected within ninety (90) days of the end of the U.K. tax year in which the event giving rise to the Tax-Related Item(s) occurs may constitute a benefit to the Participant on which additional income tax and National Insurance Contributions (“NICs”) may be payable. The Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for paying to the Company and/or the Employer (aas appropriate) make no representations or undertakings regarding the treatment amount of any Tax-Related Items in connection with NICs due on this additional benefit, which may also be recovered from the Participant at any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of time by any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect means referred to in the Responsibility for Taxes section of the Global Key Employee Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsStock Unit Grant Agreement.

Appears in 1 contract

Samples: Employee Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject Except to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges thatextent prohibited by law, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Optionee’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee or deemed by the Company or the Employer in their discretion to be an appropriate charge to the Optionee even if legally applicable to the Company or the Employer (“Tax-Related Items”) ), the Optionee acknowledges that liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Options, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit as a result of such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Options to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Furthermore, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee has become subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant The Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares of Stock acquired pursuant to at exercise of the Restricted Share UnitsOptions, either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantOptionee’s behalf pursuant to this authorization without further consentauthorization); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant The Optionee shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares of Stock or the proceeds of the sale of Shares shares of Stock if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Stock Ownership Plan (McDonalds Corp)

Responsibility for Taxes. This provision The following section replaces paragraph 6 Section 3 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). in its entirety: The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsShares, including, but not limited to, the grant, grant or vesting or settlement of the Restricted Shares UnitsShares, the subsequent sale of Shares shares of common stock acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Shares to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Employee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. EXHIBIT 10.1 Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Employee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the followingfollowing methods: (i) requiring a cash payment from by the ParticipantEmployee to the Company, on demand, by cash, check or other method of payment as may be determined acceptable by the Company; (ii) withholding from the ParticipantEmployee’s wages or other cash compensation paid to the Participant Employee by the Company and/or the Employer, ; (iii) withholding from the proceeds of the sale of Shares acquired pursuant to shares of common stock at vesting of the Restricted Share Units, Shares either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantEmployee’s behalf pursuant to this authorization authorization) without further consent); or (ivii) withholding from shares of common stock at vesting of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawShares. Depending on the withholding method, the Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share common stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of common stock, for tax purposes, the Employee is deemed to have been issued the full number of Shares shares of common stock subject to the vested Restricted Shares UnitsShares, notwithstanding that a number of the Shares is shares of common stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Employee agrees to pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantEmployee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares shares of common stock, if the Participant Employee fails to comply with his or her the Employee’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Agreement (Group 1 Automotive Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the "Employer"), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s 's participation in the Plan and legally applicable to the Participant ("Tax-Related Items") is and remains the Participant’s 's responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s 's liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s 's wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s 's behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or (v) any other method , provided, however, that if the Participant is a Section 16 officer of the Company under the Exchange Act, then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares Stock or the proceeds of the sale of Shares Stock if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the "Employer”), the ultimate liability for ") takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toto the grant of the Restricted Stock Units, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares in settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units 2 of 8 to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Global Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe PRSUs, including, but not limited to, the grant, vesting or settlement of Restricted the PRSUs, the issuance of Shares Unitsupon settlement of the PRSU, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PRSUs to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Employee has become subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding paragraph 5, prior to any relevant taxable or tax withholding event, as applicable, the Participant Employee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Company shall withhold in Shares otherwise deliverable to the Employee having a Fair Market Value equal to the minimum statutory amount required to be withheld. In the event that such withholding in Shares is problematic under applicable tax or securities law or has materially adverse accounting consequences, the Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Global Performance Restricted Stock Unit Agreement (Coherent Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant Optionee’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Options, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit as a result of such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Options to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Furthermore, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee has become subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant The Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares of Stock acquired pursuant to at exercise of the Restricted Share UnitsOptions, either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantOptionee’s behalf pursuant to this authorization without further consentauthorization); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant The Optionee shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares of Stock or the proceeds of the sale of Shares shares of Stock if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Stock Option Grant Agreement (McDonalds Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by YUM! or the Company or, Optionee's employer (if different, the Subsidiary that employs the Participant ) (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s Optionee's participation in the Plan and that are legally applicable to the Participant Optionee (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and that such liability may exceed the amount actually withheld by the Company XXX! or the Employer. The Participant Optionee further acknowledges that the Company YUM! and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s Optionee's liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Optionee becomes subject to tax and/or social security contributions in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant Optionee acknowledges that the Company YUM! and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or taxable, tax and/or social security contribution withholding event, as applicable, the Participant will Optionee shall pay or make adequate arrangements satisfactory to the Company YUM! and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company YUM! and/or the Employer, or their respective agents, at their sole discretion, to satisfy their withholding the obligations with regard respect to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s Optionee's wages or other cash compensation paid to the Participant him or her by the Company YUM! and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares acquired pursuant to upon exercise of the Restricted Share UnitsOption, either through a voluntary sale or through a mandatory sale arranged by the Company YUM! (on the Participant’s Optionee's behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawOption. Depending on the withholding methodTo avoid negative accounting treatment, the Company may will withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares, for tax purposes, the Optionee will be deemed to have been issued the full number of Shares shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is shares are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Optionee's participation in the Plan. Finally, the Participant Optionee shall pay to the Company and/or YUM! or the Employer any amount of Tax-Related Items that the Company and/or YUM! or the Employer may be required to withhold or account for as a result of the Participant’s Optionee's participation in the Plan or Optionee's acquisition of shares upon exercise of the Option that cannot be satisfied by the means previously described. The Company may YUM! xxx refuse to honor the exercise and refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares the shares to the Optionee if the Participant Optionee fails to comply with his or her Optionee's obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Long Term Incentive Plan (Yum Brands Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant's employer (the GESDMS/6544036.12 “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related tax‑related items related to the arising out of Participant’s 's participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s 's responsibility and may exceed the amount actually withheld by the Company or and/or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s 's liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all the Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company Company, the Employer and/or the Employer, any Subsidiary; or (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s 's behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in Shares to be issued at exercise of the Shares subject to Restricted Share Units; and/or (v) Option. To avoid any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodnegative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is shares are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Participant's participation in the Plan. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s Particpant's participation in the Plan that cannot be satisfied by the means previously describeddescribed in this section. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares shares if the Participant fails to comply with his or her these obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Stock Option Award Agreement (Fortinet Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share UnitsSpecial Retention Awards; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Award Agreement (Arconic Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless a)Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Corporation and/or any Related Entity take with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items Withholding Taxes related to the Participant’s participation in the Plan and legally applicable to Participant, Participant acknowledges that the Participant (“Tax-Related Items”) ultimate liability for all Withholding Taxes is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company Corporation or the Employerany Related Entity. The Participant further acknowledges that the Company Corporation and/or the Employer any Related Entity (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items Withholding Taxes in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, including the grant, vesting or settlement of Restricted the Award, the issuance of Shares Unitsupon settlement of the Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or and/or phantom dividend equivalents; and (bii) do not commit to to, and are under no obligation to to, structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items Withholding Taxes or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax Withholding Taxes in more than one jurisdiction, the Participant acknowledges that the Company Corporation and/or the Employer (or former employer, as applicable) any Related Entity may be required to withhold or account for Tax-Related Items Withholding Taxes in more than one jurisdiction. Prior (b)Unless Participant elects to any relevant taxable or tax withholding event, as applicableremit to the Corporation the amount of Withholding Taxes due in connection with the Award by submitting the election form to the Corporation within 45 days prior to the Normal Vesting Date, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regardCorporation shall collect, the and Participant authorizes the Company and/or Corporation to collect, the EmployerWithholding Taxes with respect to the issued Shares through an automatic Share Withholding Method pursuant to which the Corporation will withhold, immediately as the Shares are issued under the Award, a portion of those Shares with a Fair Market Value (measured as of the issuance date) equal to the amount of such Withholding Taxes. Participant shall be notified (in writing or through the Corporation’s electronic mail system) in the event the Corporation no longer intends to utilize the Share Withholding Method. (c)Should any Shares become issuable under the Award at a time when the Share Withholding Method is no longer utilized, then the Withholding Taxes shall be collected from Participant through either of the following alternatives: •Participant’s delivery of his or her separate check payable to the Corporation in the amount of such Withholding Taxes or a wire transfer from Participant of sufficient funds to the Corporation to cover the amount of such Withholding Taxes, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination •the use of the following: proceeds from a next-day sale of the Shares issued or issuable to Participant, provided and only if (i) requiring such a cash payment from sale is permissible under the Participant; Corporation’s trading policies governing the sale of Common Stock, (ii) withholding from Participant makes an irrevocable commitment, on or before the Participant’s wages or other cash compensation paid issuance date for those Shares, to effect such sale of the Participant by the Company and/or the Employer, Shares and (iii) withholding from the proceeds transaction is not otherwise deemed to constitute a prohibited loan under Section 402 of the sale Xxxxxxxx-Xxxxx Act of 2002. (d)If the Share Withholding Method is to be utilized for the collection of Withholding Taxes, then the Corporation shall withhold the number of otherwise issuable Shares acquired pursuant necessary to satisfy the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (applicable Withholding Taxes based on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amount or other applicable withholding rates, including maximum applicable rates, in which case rate. Participant shall have no right to the Participant may receive a refund Common Stock equivalent of any over-Shares withheld amount in cash (with no entitlement to satisfy the Share equivalent) or, if not refunded, the applicable Withholding Taxes. Participant may seek a refund from the local applicable tax authoritiesauthorities for any over-withheld amount. If the obligation for Tax-Related Items Withholding Taxes is satisfied by withholding in Shares, using the Participant is deemedShare Withholding Method, for tax purposes, Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsAward, notwithstanding that a number of the Shares is held back are withheld solely for the purpose of paying the Tax-Related ItemsWithholding Taxes due as a result of Participant’s participation in the Plan. Finally, the Participant shall pay to the Company Corporation and/or the Employer any Related Entity any amount of Tax-Related Items Withholding Taxes that the Company Corporation and/or the Employer any Related Entity may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company Corporation may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related ItemsWithholding Taxes. (e)Notwithstanding the above, the Corporation shall collect the Withholding Taxes with respect to the distributed phantom dividend equivalents by withholding a portion of that distribution equal to the amount of the applicable Withholding Taxes, with the cash portion of the distribution to be the first portion so withheld. 5.

Appears in 1 contract

Samples: www.sec.gov

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company BioLargo or, if different, the a Parent, Subsidiary that employs the or Affiliate employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company BioLargo or the Employer. The Participant further acknowledges that the Company BioLargo and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthis Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthis Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units this Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company BioLargo and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsPARTICIPANT SHOULD CONSULT A TAX ADVISER APPROPRIATELY QUALIFIED IN THE COUNTRY OR COUNTRIES IN WHICH PARTICIPANT RESIDES OR IS SUBJECT TO TAXATION BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES.

Appears in 1 contract

Samples: Stock Option Award Agreement (Biolargo, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant Optionee's employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), the Optionee acknowledges that liability for all Tax-Related Items is and remains the Participant’s Optionee's responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Options, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit as a result of such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Options to reduce or eliminate the Participant’s Optionee's liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Furthermore, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee has become subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant The Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s Optionee's wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares of Stock acquired pursuant to at exercise of the Restricted Share UnitsOptions, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s Optionee's behalf pursuant to this authorization without further consentauthorization); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant The Optionee shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s Optionee's participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares of Stock or the proceeds of the sale of Shares shares of Stock if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Stock Ownership Plan (McDonalds Corp)

Responsibility for Taxes. This The following provision replaces paragraph supplements Section 6 of the Award Non-Qualified Stock Option Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)for Employees. The Participant Optionee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”)Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s Optionee's participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the EmployerCompany. The Participant Optionee further acknowledges that the Company and/or the Employer (a) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Stock Option, including, but not limited to, the grant, grant or vesting or settlement of Restricted Shares Units, the Stock Option and the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit such vesting and the receipt of any dividends or and/or dividend equivalents; and (b) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdictionjurisdiction and may seek evidence from the Optionee of residency for purposes of operating such withholding or payment on account. Prior The Company shall not be responsible for withholding any Tax-Related Items, unless required by applicable law. The Company may take such action as it deems appropriate to ensure that all Tax-Related Items are withheld or collected from the Optionee, if and to the extent required by applicable law. In this regard, the Company will have the power and the right to require the Optionee to remit to the Company, the amount necessary to satisfy the Tax-Related Items. Notwithstanding the foregoing, unless otherwise determined by the Administrator, any obligations to pay Tax-Related Items will be met by having the Company withhold a number of shares of Stock from the total number of shares of Stock otherwise issuable to the Optionee upon the relevant taxable or tax withholding event, as applicable. In the event that withholding in shares of Stock is problematic under applicable tax or securities law or has materially adverse accounting consequences, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the EmployerCompany, or their its respective agents, at their the Company’s discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring the Optionee to make a cash payment from in a form acceptable to the Participant​ Company; (ii) withholding from the ParticipantOptionee’s wages Director fees or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, Company; (iii) withholding from the proceeds of the sale of Shares shares of Stock acquired pursuant to upon vesting/settlement of the Restricted Share Units, Stock Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantOptionee’s behalf pursuant to this authorization without further consentauthorization); or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted to the extent required by applicable lawlaw or the Plan, approved by the Administrator. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Optionee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares of Stock or the proceeds of the sale of Shares shares of Stock, if the Participant Optionee fails to comply with his or her the Optionee’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Blueprint Medicines Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Tax- Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share UnitsSpecial Retention Awards; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Tax- Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Stock Incentive Plan Special Retention Award Agreement

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; and other distributions, or (bB) do not commit makes any commitment to and are or is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 1 contract

Samples: Stock Option Award Agreement (Telenav, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax‑Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to To satisfy any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to obligations of the Company and/or the Employer with respect to satisfy all Tax-Related Items. In this regard, the Company will withhold Shares otherwise issuable upon vesting of the RSUs. Alternatively, or in addition, in connection with any applicable withholding event, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (iia) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or or the Employer, (iiib) withholding from the proceeds of the sale of Shares acquired pursuant to upon vesting of the Restricted Share Units, RSUs either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (vc) any other method requiring Participant to tender a cash payment to the Company or an Affiliate in the amount of the Tax-Related Items; provided, however, that if Participant is a Section 16 officer of the Company under the Exchange Act, the withholding methods described in this Section 3 (a), (b) and (c) will only be used if the Committee (as constituted to satisfy Rule 16b-3 of the Exchange Act) determines, in advance of the applicable withholding event, that one of such withholding methods will be used in lieu of withholding determined by the Company and permitted by applicable lawShares. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding equivalent amount in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Ingersoll-Rand PLC)

Responsibility for Taxes. This provision replaces paragraph 6 Agreement is intended to comply with Internal Revenue Code section 409A to the extent that section is applicable, and it shall be interpreted in a manner that complies with such section to the fullest extent possible. In addition, the Parties agree that First Charter and the Bank shall have the power to adjust the timing or other details relating to the awards and/or payments described in this Agreement if First Charter and the Bank determine that such adjustments are necessary in order to comply with or become exempt from the requirements of section 409A. The Parties further specifically acknowledge that Executive is a "specified employee" as such term is defined in section 409A of the Award Internal Revenue Code upon his Separation Date, such that certain payments to Executive under this Agreement (except if may be legally required to be postponed to comply with section 409A. Thus, the Participant is subject Parties agree that, in such event, any payments that are so postponed will be paid to Executive on the short-swing profit rules of Section 16(b) first day of the Securities Exchange Act calendar month following the end of 1934, as amended)the required postponement period. The Participant acknowledges that, regardless of any action taken by Parties agree that First Charter will report the Company orabove Transition Period Compensation under provision 3 and separation benefits under provision 4 as W-2 income for the applicable tax year(s) in which it they are received and/or legally accounted as taxable income, if differentand as required by law. Executive understands and agrees that he is responsible for any federal or state tax liability, the Subsidiary that employs the Participant (the “Employer”)penalties, the ultimate liability for all income taxinterest, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable payments or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding judgments against him that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for could arise as a result of this Agreement. In addition, Executive agrees that he has had the Participant’s participation opportunity to consult with his own, independent accountant and/or counsel regarding any and all tax issues related to this Agreement. Executive also agrees that First Charter, the Releasees, and their respective officers, employees, accountants, attorneys and agents are in the Plan that cannot be satisfied by the means previously described. The Company may refuse no way indemnifying or making any representation, statement or guarantee to issue Executive as to his past, current or deliver the Shares future tax liability or the proceeds ultimate position that the IRS or any applicable state tax agency may take with respect to the tax treatment of the sale such prior or future wages, payments, compensation and benefits, including those payments and benefits set forth in provisions 3 and 4 of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Itemsthis Agreement.

Appears in 1 contract

Samples: Transition Agreement and Release (First Charter Corp /Nc/)

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