Common use of Share Withholding Clause in Contracts

Share Withholding. With respect to tax withholding required upon the exercise of Option Shares, Grantee may elect, subject to the approval of the Committee in its sole discretion, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the statutory total tax which could be imposed on the transaction. All such elections shall be made in writing, signed by the Grantee, and shall be subject to any restrictions or limitations that the Committee, in its discretion, deems appropriate. Any fraction of a Share required to satisfy such obligation shall be disregarded and the amount due shall instead be paid in cash by the Grantee. The Company shall have the right to take such other action as may be necessary or appropriate to satisfy any such tax withholding obligations.

Share Withholding. With respect to tax withholding required upon the exercise any taxable event arising as a result of Option Sharesthis Agreement, Grantee Participant may elect, subject to the approval of the Committee in its sole discretion, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the statutory total tax which could be imposed on the transaction. All such elections shall be made in writing, signed by the GranteeParticipant, and shall be subject to any restrictions or limitations that the Committee, in its discretion, deems appropriate. Any fraction of a Share required to satisfy such obligation shall be disregarded and the amount due shall instead be paid in cash by the Grantee. The Company shall have the right to take such other action as may be necessary or appropriate to satisfy any such tax withholding obligationsParticipant.