Tax Withholding Liability means all federal and state income taxes, Social Security tax, Medicare tax and any other taxes applicable to the income arising from a transaction involving Options required by applicable law to be withheld by the Company. The Committee shall retain the discretion to determine the amount of Tax Withholding Liability.
Examples of Tax Withholding Liability in a sentence
The Corporation shall have the right to retain and withhold the amount of Tax Withholding Liability with respect to the Restricted Shares.
At its discretion, the Committee may require the Holder to reimburse the Corporation for any such Tax Withholding Liability and to withhold any distribution in whole or in part until the Corporation is so reimbursed.
No dollar amount need be paid by the Holder to the Corporation as consideration for the purchase of the Restricted Shares, other than in connection with any Tax Withholding Liability (as defined in the Plan).
The Exercise Notice shall be completed by Participant and delivered to the Company, accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with the amount of any applicable Tax Withholding Liability required to be paid pursuant to Section II.9 of this Agreement.
This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price and any such Tax Withholding Liability.