Offset Payments definition
Examples of Offset Payments in a sentence
The Tax Offset Payments shall be determined by applying a percentage established by the Board to all or a portion (as the Board shall determine) of the taxable income recognizable by an employee upon (i) the exercise of Non-qualified Stock Options or Stock Appreciation Rights, (ii) the disposition of shares received upon exercise of Incentive Stock Options, (iii) the lapse of restrictions on Restricted Shares or (iv) the award or sale of Unrestricted Shares.
The Company shall have the right to require Purchasers to remit to the Company, by deduction from salary, wages or otherwise, an amount sufficient to satisfy federal, state and local withholding tax requirements, or to deduct from all payments under this Agreement, including Tax Offset Payments (as defined in the Plan), amounts sufficient to satisfy all withholding tax requirements.
No suspension, modification or amendment of this Agreement may, without the consent of the Associate, adversely affect the rights of the Associate with respect to the Restricted Shares or Tax Offset Payments granted pursuant to this Agreement.
Each award of Options, Stock Appreciation Rights, Restricted Shares, Unrestricted Shares and Tax Offset Payments shall be evidenced by a written agreement containing such restrictions, terms and conditions, if any, as the Board may require.
Tax Offset Payments shall be subject to the restrictions on transferability applicable to Options and Stock Appreciation Rights under Article 7.
Licensee shall maintain accurate financial books and records pertaining to sale of the Product by Licensee, its Affiliates or Sublicensees, including any and all calculations of the Upfront Payment, Milestone Payments, Royalties and Royalty Offset Payments (collectively, “Relevant Records”).
The Corporation shall have the right to require employees or their beneficiaries or legal representatives to remit to the Corporation an amount sufficient to satisfy Federal, state and local withholding tax requirements, or to deduct from all payments under the Plan, including Tax Offset Payments, amounts sufficient to satisfy all withholding tax requirements.
No suspension, modification or amendment of this Agreement may, without the consent of the Associate, adversely affect the rights of the Associate with respect to the Options or Tax Offset Payments granted pursuant to this Agreement.
Options granted under the Plan may not be transferred, assigned pledged or hypothecated (whether by operation of law or otherwise), except as provided by will or the applicable laws of descent and distribution, and neither Options nor Tax Offset Payments shall be subject, in whole or in part, to execution, attachment or similar process.
The Company shall have the right to require the Associate or the Associate’s beneficiaries or legal representatives to remit to the Company an amount sufficient to satisfy Federal, state or local withholding tax requirements, or to deduct from distributions under the Plan (including Tax Offset Payments, if any) amounts sufficient to satisfy such withholding tax requirements.