Definition of Tax Offset Amount

Tax Offset Amount means, for each exercise of all or a portion of the SSARs, the aggregate amount of federal, state, and local withholding taxes and Employees portion of all applicable payroll taxes attributable to the SSAR Spread upon exercise of the SSARs to be withheld and paid to the appropriate taxing authorities by Corporation.
Sample 1

Tax Offset Amount means an amount equal to $300,000. A-8
Sample 1

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 Employees benefit.