Means of Payment. The Committee may, in its sole discretion, permit the Optionee to satisfy, in whole or in part, any withholding tax obligation which may arise in connection with the Options by any of the following means or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Corporation to deduct any such tax obligations from any payment of any kind otherwise due to the Optionee; (iii) authorizing the Corporation to withhold shares of Common Stock otherwise issuable to the Optionee pursuant to the exercise of the Options; or (iv) delivering to the Corporation unencumbered shares of Common Stock already owned by the Optionee.
Appears in 5 contracts
Samples: Incentive Stock Option Grant Agreement, Stock Option Grant Agreement (Carroll Bancorp, Inc.), Incentive Stock Option Grant Agreement (Carroll Bancorp, Inc.)
