Plan Administration and Tax Withholding Sample Clauses

Plan Administration and Tax Withholding. Notwithstanding any provision to the contrary in this Agreement (including, without limitation, Section 9), the Company and the Grantee acknowledge that the Grantee’s Italian employer has a mandatory and non-waivable obligation to act as a tax withholding agent (sostituto d’imposta) under Italian law. Accordingly, the Italian employer will be responsible for calculating, withholding, and remitting to the relevant authorities all applicable income taxes (IRPEF) and social security contributions due on the value of the Restricted Stock Units at the time of vesting. The Grantee authorizes the Italian employer to withhold such amounts from the Grantee’s regular salary or other compensation.