Tax Withholding means the minimum amount that Atlanticus determines is required under applicable federal, state or local law to be withheld and paid over to governmental taxing authorities by reason of the delivery of shares of Common Stock pursuant to the Restricted Stock Units.
See Section 4.c. "Procedures for Tendering Shares--United States Federal Income Tax Withholding" above.
Such Shares will be sold on the day such Tax Withholding Obligation arises (e.g., a vesting date) or as soon thereafter as practicable.
Accordingly, the Grantee agrees to pay to the Company or any Related Entity as soon as practicable, including through additional payroll withholding, any amount of the Tax Withholding Obligation that is not satisfied by the withholding of Shares described above.
The Grantee acknowledges that the withheld Shares may not be sufficient to satisfy the Grantees minimum Tax Withholding Obligation.
The Grantee acknowledges that the Company or its designee is under no obligation to arrange for such sale at any particular price, and that the proceeds of any such sale may not be sufficient to satisfy the Grantees minimum Tax Withholding Obligation.