Common use of Compensation Deductions Clause in Contracts

Compensation Deductions. In consideration of Executive's employment, and except as otherwise provided herein, Executive shall receive from Company the compensation and benefits described in this Section 2 as full and complete satisfaction of all of Company's obligations to Executive arising from Executive's employment. The compensation and employee benefits payable to Executive pursuant to this Agreement may be changed only by the written agreement of the parties. Executive authorizes Company to deduct and withhold from all compensation to be paid to Executive any and all sums required to be deducted or withheld by Company pursuant to the provisions of any federal, state, or local law, regulation, ruling, or ordinance, including, but not limited to, income tax withholding and payroll taxes.