Tax Offset Amount definition
Tax Offset Amount shall have the meaning given in Section 3.2.
Tax Offset Amount means, for any Member, the amount by which a Tax otherwise payable by the Company is reduced as a result of income being allocated to such Member, Taxes being paid by such Member, or similar event (for a Member including, for example and not by way of limitation, the amount by which the Illinois Personal Property Tax Replacement Income Tax otherwise payable by the Company is reduced as a result of income being distributable to such Member).
Tax Offset Amount means, for each exercise of all or a portion of the SAR, the aggregate amount of federal, state, and local withholding taxes and Participant's portion of all applicable payroll taxes attributable to the SAR Spread upon exercise of the SAR to be withheld and paid to the appropriate taxing authorities by Employer.
Examples of Tax Offset Amount in a sentence
Upon exercise of all or a portion of the SSARs after the SSARs have become exercisable, Corporation will calculate the SSAR Spread, the Tax Offset Amount, and the Net SSAR Value and will convert the Net SSAR Value into a whole number of SSAR Settlement Shares based on the Fair Market Value of a Share on the exercise date, with any remaining portion of the Net SSAR Value (representing the value of a fractional Share) credited as additional federal income tax withholding for the Employee’s benefit.
More Definitions of Tax Offset Amount
Tax Offset Amount has the meaning set forth in Section 6.21(b).
Tax Offset Amount means, for each exercise of all or a portion of the SAR, the aggregate amount of federal, state, and local withholding taxes and Participant’s portion of all applicable payroll taxes attributable to the SAR Spread upon exercise of the SAR to be withheld and paid to the appropriate taxing authorities by Employer. · Termination Date means the date Participant ceases to be an Employee.
Tax Offset Amount means an amount equal to $300,000.