Taxes; Withholding. The Participant shall be responsible for the payment of all applicable local, state and federal taxes associated with the Participant’s participation in the Plan and the receipt of SERP Benefits hereunder, and the Employer shall have the right to deduct from any distributions hereunder any such taxes or other amounts required by law to be withheld therefrom.
Appears in 4 contracts
Samples: Participation Agreement (First United Corp/Md/), Participation Agreement (First United Corp/Md/), Participation Agreement (First United Corp/Md/)
Taxes; Withholding. The Participant shall be responsible for the payment of all applicable local, state and federal taxes associated with the Participant’s participation in the Plan and the receipt of SERP Benefits benefits hereunder, and the Employer shall have the right to deduct from any distributions hereunder any such taxes or other amounts required by law to be withheld therefrom.
Appears in 2 contracts
Samples: Participation Agreement (First United Corp/Md/), Participation Agreement (First United Corp/Md/)
Taxes; Withholding. The Participant shall be responsible for the payment of all applicable local, state and federal taxes associated with the Participant’s participation in the Plan and the receipt of SERP Defined Benefits hereunder, and the Employer shall have the right to deduct from any distributions hereunder any such taxes or other amounts required by law to be withheld therefrom.
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