Election to Withhold Shares. The Optionee may elect to satisfy the Companies’ income tax withholding obligation with respect to the Option by having Shares withheld up to an amount that does not exceed the Optionee’s minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in a form and manner prescribed by the Board.
Election to Withhold Shares. If the Board permits, you may elect to satisfy the Company’s income tax withholding obligation with respect to a Grant by having shares withheld up to an amount that does not exceed your minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in a form and manner prescribed by the Board and may be subject to the prior approval of the Board.
Election to Withhold Shares. The Committee, in its discretion, may permit or require the Participant to satisfy the withholding requirements, in whole or in part, by electing to have the Company withhold Shares (except with respect to Restricted Stock in which an election is made as described in Section 7.4(e)), or by returning previously acquired Shares to the Company; provided, however, that the Company may limit the number of Shares withheld to satisfy the Withholding Requirements to the extent necessary to avoid adverse accounting consequences. Shares shall be valued, for purposes of this subsection (b), at their Fair Market Value (determined as of the date an amount is includible in income by the Participant (the “Determination Date”), rather than the date of grant). If Shares acquired by the exercise of an ISO are used to satisfy the Withholding Requirements, such Shares must have been held by the Participant for a period of not less than the holding period described in Code section 422(a)(1) as of the Determination Date. The Committee shall adopt such withholding rules as it deems necessary to carry out the provisions of this Section.
Election to Withhold Shares. The Grantee may elect to satisfy the Employer’s income tax withholding obligation with respect to the Option by having shares withheld up to an amount that does not exceed the Grantee’s minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in a form and manner prescribed by the Board.
Election to Withhold Shares. If the Administrator so permits, a Participant may elect to satisfy the Employer’s tax withholding obligation with respect to Grants paid in Stock by having shares withheld, at the time such Grants become taxable, up to an amount that does not exceed the minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. In addition, with respect to any required tax withholding amount that exceeds the minimum applicable withholding tax rate, the Administrator may permit a Participant to satisfy such tax withholding obligation with respect to such excess amount by providing that the Participant may elect to deliver to the Company shares of Stock owned by the Participant that have been held by the Participant for the requisite period of time to avoid adverse accounting consequences to the Company. The elections described in this subsection (b) must be in a form and manner prescribed by the Administrator and may be subject to the prior approval of the Administrator.
Election to Withhold Shares. The federal and state taxes required to be withheld or collected from the Participant in connection with the acquisition of shares of Stock under the Plan, including, without limitation, upon the lapse of any restriction with respect to any shares of Stock acquired under the Plan or upon the filing of an election to recognize a tax liability (such applicable event upon which the amount of tax to be withheld is determined being referred to herein as the “Tax Date”), may be satisfied, in whole or in part, by the withholding of a sufficient number of shares of Stock which, valued at fair market value on the Tax Date, would be equal to the total withholding obligation of the Participant; provided, however, that no person who is subject to Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), may elect to satisfy the withholding of federal and state taxes in connection with the acquisition of shares of Stock under the Plan by the withholding of shares of Stock unless such election complies with any conditions or restrictions imposed by the Board, including conditions or restrictions to ensure compliance with the requirements of Rule 16b-3(e) as promulgated pursuant to the Exchange Act, and is made either (i) at least six (6) months prior to the applicable Tax Date or (ii) during any of the periods beginning on the third (3rd) business day following the date on which the Company issues a news release containing the operating results of a fiscal quarter or fiscal year and ending on the twelfth (12th) business day following such date. The Board shall adopt rules governing the election to withhold shares of Stock described in this paragraph 10(b), which may include, without limitation, rules requiring that any such election shall be made on or before the Tax Date, shall be irrevocable, shall be subject to the disapproval of the Board and shall be deemed made upon receipt of notice thereof by the Chief Financial Officer of the Company, delivered in person or by certified or registered mail, return receipt requested. In addition, if the Participant is a person subject to Section 16 of the Exchange Act, such election shall state the number of shares to be withheld or specify a formula pursuant to which such number may be determined and may not be made within six (6) months of the grant of the Stock award (except in the event of the death or disability of the Participant).
