Withholding Election definition

Withholding Election means the election set forth in Article XV.

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Withholding Election means a Participant’s election: (a) with respect to Common Stock issued pursuant to any Stock Incentive, to have the number of shares of Common Stock so issued reduced in accordance with Section 8.1 hereof by the smallest number of whole shares of Common Stock which, when multiplied by the Fair Value of such shares of Common Stock, determined as of the Tax Date, is sufficient to satisfy all federal, state, and local tax withholding obligations arising from the issuance of such shares of Common Stock, or (b) with respect to the vesting of any Restricted Stock Award, to tender, in accordance with Section 8.1 hereof, the smallest number of whole shares of Common Stock back to the Company which, when multiplied by the Fair Value determined as of the Tax Date, is sufficient to satisfy all federal, state, and local, tax withholding obligations arising from the vesting of such Restricted Stock Award.

Withholding Election means a written irrevocable election by an Optionee for the withholding or delivery back of shares of Stock pursuant to paragraph 17 hereof in consideration of the Company's payment of Withholding Taxes.

Examples of Withholding Election in a sentence

A Withholding Election must be received by the Corporate Secretary of the Company on or prior to the Tax Date.
If the Employee fails to pay the required amount to the Company or fails to make a Stock Withholding Election, the Company is authorized to withhold from any cash remuneration or stock remuneration, including withholding any Restricted Shares distributable to the Employee under this Agreement, then or thereafter payable to the Employee any tax required to be withheld by reason of compensation income resulting under this Agreement or the disposition of Restricted Shares acquired under this Agreement.
The Withholding Election must be made by executing and delivering to the Corporation a properly completed Notice of Withholding Election, in substantially the form of Exhibit B attached hereto (or as otherwise permitted by the Committee).
If the Committee elects not to give effect to the Withholding Election, it shall provide the Employee with written notice reasonably in advance of the applicable vesting event.
An election pursuant to the preceding sentence shall be referred to herein as a "Stock Withholding Election." All Stock Withholding Elections shall be made by written notice to the Company at its principal executive office addressed to the attention of the Secretary.
An Optionee's Withholding Election may only be made prior to the Tax Date and may be disapproved by the Committee.
Participant understands and agrees that Participant’s acceptance of this Restricted Stock Award will be deemed to be Participant’s election to make a Withholding Election pursuant to this Section 2(c) and such other consistent terms and conditions prescribed by the Committee.
Capitalized terms used in this Notice of Withholding Election without definition shall have the meanings given to them in the Plan.
An election pursuant to the preceding sentence shall be referred to herein as a “Stock Withholding Election” and the Company retains the right to impose conditions on the Employee’s rights regarding any Stock Withholding Election.
The Administrator may in its sole and absolute discretion disapprove and give no effect to the Withholding Election.

More Definitions of Withholding Election

Withholding Election means the election set forth in Article XIII.