Payroll Charges definition
Payroll Charges means payroll charges for MetLife Group employees utilized or provided by MSS in its performance of Services that are attributable to a Payroll Period, including any amounts withheld (i.e., withholding taxes, including federal, state and local taxes and employee FICA contributions), contributed (i.e., voluntary employee payroll deductions, including deductions for employee 401(k) contributions and employee contributions for benefit and welfare plans (such as medical, dental, long-term care and life insurance)) or matched (i.e., employer FICA and 401(k) contributions).
Examples of Payroll Charges in a sentence
Intressenter will cause CIAB to pay, or cause to be paid, when due and payable such Payroll Charges in respect of options exercised after the Completion Date.
ACC and CIAB have agreed that CIAB will pay all payroll taxes and social charges (the “Payroll Charges”) due in respect of the value received by the executives upon option exercises (“Option Income”), and ACC, CIAB and certain executives have previously agreed that the executives will pay to CIAB 25% (20% for one executive) of his or her Option Income to reimburse CIAB for the payment of such Payroll Charges.