Option Tax definition

Option Tax means income tax payable under the Pay-As-You-Earn system and employees’ national insurance contributions and (in the case of Options granted after 2 March 2004 only) any employers’ national insurance contributions which are recoverable from the Participant (or, in each case, similar taxes in another jurisdiction) in any case payable by a Participating Company or former Participating Company in connection with the exercise of an Option;
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Option Tax means $2,665,193.09, being the estimated aggregate of the amounts set forth opposite certain of the Sellers’ names on Schedule 1.2A and Schedule 1.2B, being the estimated aggregate amount of the income tax and employee’s and employer’s national insurance contributions which will arise in connection with or as a result of the exercise or cash cancellation of the Company Options.
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Examples of Option Tax in a sentence

  • Price shall not include State Gross Receipts or Local Option Tax.

  • To the extent that prior to the Closing an Interim Option Tax Ruling shall have been obtained, then all references herein to the Option Tax Ruling shall be deemed to refer to such Interim Option Tax Ruling, until such time that a final definitive Option Tax Ruling is obtained.

  • The Company shall have no further liability under this Agreement other than for the Stock Option Tax Liability Payment and reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the Company’s policy on reimbursements of business expenses.

  • The final text of the Interim Option Tax Ruling, the Option Tax Ruling and the Withholding Tax Ruling shall be subject to the prior written confirmation of Parent or its counsel, which consent shall not be unreasonably withheld, conditioned or delayed.

  • The 102 Amounts shall be held in trust by the 102 Trustee pursuant to the applicable provisions of Section 102 of the Ordinance and the Option Tax Ruling, if obtained, and shall be released by the 102 Trustee, together with any interest earned thereon by virtue of the investment of such amounts by the 102 Trustee, in accordance with the terms and conditions of Section 102 of the Ordinance and the Option Tax Ruling, if obtained.

  • In the event that neither the Israeli Option Tax Ruling nor the Interim Option Ruling has been received by the fifteenth (15th) calendar day of the month following the month during which the payments become due and payable, Parent, Paying Agent, the Trustee or the Surviving Company may make such payments and withhold any applicable Israeli Taxes in accordance with applicable Law.

  • Furthermore, not later than the last business day of the month following each month in which an amount is withheld by a member of the TWX Group pursuant to Section 12.04 in connection with the exercise of a TWX Option by an AOL Employee, a member of the TWX Group shall pay a member of the AOL Group an amount in cash equal to the aggregate TWX Option Tax Withholding Reimbursement Amount (if any) withheld by members of the TWX Group during such month.

  • For the avoidance of doubt, the final text of the Israeli Option Tax Ruling or the Interim Option Ruling shall in all circumstances be subject to the prior written confirmation of Parent or its counsel, which consent shall not unreasonably be withheld or delayed.

  • If the Israeli Option Tax Ruling is not granted by the tenth (10th) Business Day prior to the Closing, and Parent determines, in its reasonable discretion, that it is unlikely that the Israeli Option Tax Ruling will be granted prior to the Closing, the Company shall seek to receive prior to the Closing an interim Tax ruling confirming that payments made to the 102 Trustee under this Agreement shall not be subject to withholding of Israeli Tax (the “Interim Option Ruling”).

  • Such cash and ADSs shall be released by the Trustee in accordance with the terms and conditions of Section 102 of the ITO, the Option Tax Ruling, if obtained, the trust documents governing the trust held by the Trustee, and the other terms and conditions otherwise set forth herein with respect to stockholders of the Company.

Related to Option Tax

  • non-taxable territory means the territory which is outside the taxable territory;

  • Transaction Taxes has the meaning set forth in Section 2.6.

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of any of the Transactions to qualify for the Intended Tax Treatment of such Transaction.

  • Transaction Tax Deductions means any items of loss or deduction for Tax purposes arising from or attributable to any Actual Company Expenses or Actual Indebtedness.

  • non-taxable supply means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act;