Definition of Tax Withholding Liability


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.
Sample 1

Examples of Tax Withholding Liability in a sentence

The number of shares of Stock to be distributed to any individual Unit Recipient may be reduced by the number of shares of Stock, the Fair Market Value of which on the Distribution Date is equivalent to the cash necessary to pay any Tax Withholding Liability, where the cash to be distributed is not sufficient to pay such Tax Withholding Liability, or the Unit Recipient may deliver to the Company cash sufficient to pay such Tax Withholding Liability.
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).
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.
The number of shares of Stock to be distributed to any individual Restricted Stock Unit Recipient may be reduced by the number of shares of Stock, the Fair Market Value of which on the Distribution Date (as defined in Section 4.9(d) below) is equivalent to the cash necessary to pay any Tax Withholding Liability, where the cash to be distributed is not sufficient to pay such Tax Withholding Liability, or the Unit Recipient may deliver to the Company cash sufficient to pay such Tax Withholding Liability.
The Corporation shall have the right to retain and withhold the amount of Tax Withholding Liability with respect to the Restricted Shares.