Withholding of Payroll Taxes. The Company shall withhold from payments made hereunder any taxes required to be withheld from Participant’s wage under federal, state or local law. However, a Beneficiary may elect not to have withholding for federal income tax purposes pursuant to Section 3405(a) (2) of the Internal Revenue Code, or any successor provision thereto.
Appears in 6 contracts
Samples: Deferred Fee Agreement (Santa Lucia Bancorp), Deferred Fee Agreement (Santa Lucia Bancorp), Deferred Fee Agreement (Santa Lucia Bancorp)
Withholding of Payroll Taxes. The Company Employer shall withhold from payments made hereunder any taxes required to be withheld from a Participant’s wage age under federal, state or local law. However, a Beneficiary may elect not to have withholding for federal income tax purposes pursuant to Section 3405(a) (23405(a)(2) of the Internal Revenue Code, or any successor provision thereto.
Appears in 1 contract
Samples: Heritage Commerce Corp
Withholding of Payroll Taxes. The Company shall withhold from payments made hereunder any taxes required to be withheld from a Participant’s wage age under federal, state or local law. However, a Participant’s designated Beneficiary may elect not to have withholding for federal income tax purposes pursuant to Section 3405(a) (2) of the Internal Revenue Code, or any successor provision thereto.
Appears in 1 contract
Samples: North Bay Bancorp/Ca
Withholding of Payroll Taxes. The Company shall withhold from payments made hereunder any taxes required to be withheld from Participantthe Executive’s wage benefits under federal, state or local law. However, a Beneficiary may elect not to have withholding for federal income tax purposes pursuant to Code Section 3405(a) (2) of the Internal Revenue Code3405(a)(2), or any successor provision thereto.
Appears in 1 contract
Samples: Executive Retirement Agreement (R H Donnelley Corp)
