Tax Considerations. The Employer shall have the right to withhold, or require the Participant to remit to the Employer, an amount towards taxes computed at the applicable rate at the time of allotment of the Shares to the Participant on the value of benefit (in the form of allotment of Shares) which shall be chargeable to tax in the hands of the Participant as salary. The value of benefit shall be the aggregate Fair Market Value (“FMV”) of the Shares on the date of vesting. The FMV of the Shares shall be the value as determined by a Category I Merchant Banker registered with the Securities and Exchange Board of India on the specified date, being the vesting date or any date not being a date which is more than 180 days earlier than the date of vesting.
Appears in 7 contracts
Samples: Performance Stock Unit Agreement (TechnipFMC PLC), Performance Stock Unit Agreement (TechnipFMC PLC), Performance Stock Unit Agreement (TechnipFMC PLC)
Tax Considerations. The Employer shall have the right to withhold, or require the Participant to remit to the Employer, an amount towards taxes computed at the applicable rate at the time of allotment of the Shares to the Participant on the value of benefit (in the form of allotment of Shares) which shall be chargeable to tax in the hands of the Participant as salary. The value of benefit shall be the aggregate Fair Market Value (“FMV”) of the Shares on the date of vesting. The FMV of the Shares shall be the value as determined by a Category I Merchant Banker registered with the Securities and Exchange Board of India on the specified date, being the vesting date or any date not being a date which is more than 180 days earlier than the date of vesting.
Appears in 1 contract
