Common use of Responsibility for Taxes Clause in Contracts

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 6 contracts

Samples: Award Agreement (Arconic Corp), Restricted Share Unit Award Agreement (Howmet Aerospace Inc.), Restricted Share Unit Award Agreement (Howmet Aerospace Inc.)

AutoNDA by SimpleDocs

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawSpecial Retention Awards. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 6 contracts

Samples: Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or (v) any other method , provided, however, that if the Participant is a Section 16 officer of the Company under the Exchange Act, then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 5 contracts

Samples: Restricted Stock Unit Award Agreement (Alliance Data Systems Corp), Restricted Stock Unit Award Agreement (Alliance Data Systems Corp), Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 supplements Section 13 of the Award Agreement (except if and Section 1 of the Terms and Conditions for Non-U.S. Participants: Without limitation to Section 13 of the Agreement and Section 1 of the Terms and Conditions for Non-U.S. Participants, the Participant agrees that the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability liable for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is Items and remains the Participant’s responsibility hereby covenants to pay all such Tax-Related Items as and may exceed the amount actually withheld when requested by the Company or the EmployerEmployer or by Her Majesty’s Revenue and Customs (“HMRC”) (or any other tax authority or any other relevant authority). The Participant further acknowledges also agrees to indemnify and keep indemnified the Company and the Employer against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on the Participant’s behalf. Notwithstanding the foregoing, if the Participant is a director or executive officer of the Company (within the meaning of Section 13(k) of the Exchange Act), the Participant understands that he or she may not be able to indemnify the Company for the amount of any Tax-Related Items not collected from or paid by the Participant, in case the indemnification could be considered a loan. In this case, the Tax-Related Items not collected or paid may constitute a benefit to the Participant on which additional income tax and National Insurance contributions (“NICs”) may be payable. The Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for paying to the Company and/or the Employer (aas appropriate) make no representations or undertakings regarding the treatment amount of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsNICs due on this additional benefit, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising which may also be recovered from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds any of the sale of Shares acquired pursuant means referred to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number Section 13 of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold Agreement or account for as a result Section 1 of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the TaxTerms and Conditions for Non-Related ItemsU.S. Participants.

Appears in 4 contracts

Samples: Award Noticeand Performance Share Unit Agreement (Hilton Worldwide Holdings Inc.), Award Noticeand Performance Share Unit Agreement (Hilton Worldwide Holdings Inc.), Performance Share Agreement (Hilton Worldwide Holdings Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Itemswithholding and payment on account obligations of the Company and/or the Employer. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding and all other obligations with regard to all Tax-Related Items legally payable by the Participant by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 4 contracts

Samples: www.sec.gov, Apple Inc, Apple Inc

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 4 contracts

Samples: Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Agreement, the Company shall have no obligation to process the settlement of the Award Agreement or to deliver Common Shares unless and until satisfactory arrangements (except if as determined by the Company) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, National Insurance Contributions, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant including, without limitation, in connection with the Participant grant, vesting or settlement of the Award, the subsequent sale of Common Shares acquired under the Plan and/or the receipt of any dividends on such Common Shares which the Company determines must be withheld (“Tax-Related Items”) ). If Participant fails to make satisfactory arrangements for the payment of any required Tax-Related Items hereunder at the time of the Award settlement, Participant acknowledges and agrees that the Company may refuse to deliver the Common Shares if such amounts are not delivered at the time of settlement. Participant authorizes the Company and/or the Affiliate to withhold any Tax-Related Items legally payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Affiliate or from proceeds of the sale of Common Shares. Further, if Participant is subject to tax in more than one jurisdiction between the date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges and agrees that the Company and/or Affiliate employer, or former employer, as applicable, may be required to withhold or account for tax in more than one jurisdiction. Regardless of any action of the Company or the Affiliate, Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerAffiliate. The Participant further acknowledges that the Company and/or and the Employer Affiliate (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsAward; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 4 contracts

Samples: Restricted Stock Units Agreement (Lululemon Athletica Inc.), Restricted Stock Units Agreement (Lululemon Athletica Inc.), Restricted Stock Units Agreement (Lululemon Athletica Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by Micro or the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to Awardee or deemed by Micro or the Participant Employer to be an appropriate charge to Awardee even if technically due by Micro or the Employer (“Tax-Related Items”) ), Awardee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantAwardee’s responsibility and may exceed the amount actually withheld by the Company Micro or the Employer. The Participant Awardee further acknowledges that the Company Micro and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsStock Unit Award, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Unit Award, the issuance of Shares Unitsupon settlement of the Restricted Stock Unit Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Stock Unit Award and the receipt of any dividends or dividend equivalentsother distributions, if any; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Unit Award to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Awardee has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Awardee acknowledges that the Company Micro and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Awardee will pay or make adequate arrangements satisfactory to the Company Micro and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Awardee authorizes the Company Micro and/or the Employer, or their respective agents, at their discretionsole discretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company Micro and/or the Employer, ; (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Unit Award, either through a voluntary sale or through a mandatory sale arranged by the Company Micro (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); or (iv3) withholding from in Shares acquired pursuant to the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawStock Unit Award. Depending on the withholding methodTo avoid negative accounting treatment, the Company Micro may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedShares as described herein, for tax purposes, Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsStock Unit Award, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Awardee’s participation in the Plan. Finally, the Participant shall Awardee will pay to the Company and/or Micro or the Employer any amount of Tax-Related Items that the Company and/or Micro or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan or Awardee’s acquisition of Shares that cannot be satisfied by the means previously described. The Company Micro may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant Awardee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 4 contracts

Samples: Restricted Stock Unit Award Agreement (Ingram Micro Inc), 2003 Equity Incentive Plan Eu Restricted Stock Unit Award Agreement (Ingram Micro Inc), 2003 Equity Incentive Plan Eu Restricted Stock Unit Award Agreement (Ingram Micro Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Participant’s employer or any Parent or Subsidiary that employs the to which Participant is providing services (together, the “EmployerService Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Withholding Obligations (as defined below) in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 4 contracts

Samples: Stock Option Agreement (La Rosa Holdings Corp.), Stock Option Agreement (Solid Power, Inc.), Stock Option Agreement (BlackSky Technology Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, grant or vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares any shares acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, may satisfy, or allow the Participant to satisfy their satisfy, the withholding obligations obligation with regard to all Tax-Related Items by one any of the following, or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.thereof:

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement, Restricted Stock Unit Award Agreement (American Express Co), Restricted Stock Unit Award Agreement (American Express Co)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all income taxfederal (including Participant’s Federal Insurance Contributions Act (FICA) obligations), social insurancestate, payroll tax, fringe benefits tax, payment on account local and non-U.S. taxes that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant taxable or tax withholding event, as applicable, required Tax Obligations hereunder at the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination time of the following: applicable taxable event (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding as determined by the Company Company), Participant acknowledges and permitted by applicable law. Depending on agrees that the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Shares that otherwise would be delivered to Participant may receive a refund of any over-withheld amount in cash (with will be permanently forfeited at no entitlement cost to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsCompany.

Appears in 3 contracts

Samples: Option Agreement (Micron Technology Inc), Restricted Stock Agreement (Micron Technology Inc), Restricted Stock Unit Agreement (Micron Technology Inc)

Responsibility for Taxes. This provision replaces paragraph 6 The following provisions replace Section 8 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). Agreement: The Participant acknowledges that, regardless of any action taken by the Company Company, or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant as a result of participation in the Plan (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or to enable the Company and the Employer to satisfy all fulfill any withholding obligation for Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.following methods:

Appears in 3 contracts

Samples: Cirrus Logic (Cirrus Logic, Inc.), Cirrus Logic (Cirrus Logic, Inc.), Cirrus Logic (Cirrus Logic Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934By accepting this RSU Award, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary any Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account account, employment tax, stamp tax or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, including any employer liability for which the Participant is liable (the “Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSU Award, including, but not limited to, the grant, vesting vesting, or settlement of Restricted Shares Unitsthe RSU Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement, and the receipt of any dividends or dividend equivalents; dividends, and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSU Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the as applicable, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Participant agrees to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously describeddescribed in this Section. The Company may refuse to issue or deliver the Shares Shares, or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Award Agreement (Duddell Street Acquisition Corp.), Notice of Restricted Stock Unit Award (Duddell Street Acquisition Corp.), Notice of Restricted Stock Unit Award (Romeo Power, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable or deemed legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the RSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Global Restricted Stock Unit Award Agreement (Allegion PLC), Restricted Stock Unit Award Agreement (Allegion PLC), Global Restricted Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 As a condition to the grant, vesting and exercise of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges thatoption, regardless of any action taken by the Company or, if differentor any Subsidiary or Affiliate takes with respect to the Tax-Related Items, the Subsidiary Employee hereby acknowledges and agrees that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the ParticipantEmployee’s responsibility and may exceed the any amount actually withheld by the Company or the Employerany Subsidiary or Affiliate. The Participant Employee further acknowledges that the Company and/or the Employer and its Subsidiaries and Affiliates (a1) make no representations or undertakings regarding the treatment of any the Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe option grant, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Units, the subsequent option and the immediate sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentssuch exercise; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units this option to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall Employee also agrees that he or she will not make any claim against the Company, the Employer or any other Subsidiaryof its Directors, Employees or their respective board, officers Subsidiaries or employees Affiliates related to Tax-Related Items arising from this Awardoption. FurthermoreThe Employee further acknowledges and agrees that the Employee is solely responsible for filing all relevant documentation that may be required in relation to this option or any Tax-Related Items (other than filings or documentation that is the specific obligation of the Company or any Subsidiary or Affiliate pursuant to applicable law), such as but not limited to personal income tax returns or reporting statements in relation to the grant, vesting or exercise of the option, the holding of Shares or any bank or brokerage account, the subsequent sale of Shares, and the receipt of any dividends. The Employee also understands that applicable laws may require varying Share or option valuation methods for purposes of calculating Tax-Related Items, and the Company and its Subsidiaries and Affiliates assume no responsibility or liability in relation to any such valuation or for any calculation or reporting of income or Tax-Related Items that may be required of the Employee under applicable laws. Further, if the Participant Employee has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) any Subsidiary or Affiliate may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Varex Imaging Corp), Restricted Stock Unit Agreement (Varex Imaging Corp), Restricted Stock Unit Agreement (Varex Imaging Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Shares of Restricted Stock, including, without limitation, all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including the Participant’s Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these the Shares of Restricted Shares UnitsStock, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsvesting, the release from escrow, subsequent sale of Shares acquired pursuant to the Restricted Share Unit and this Award Agreement or the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Award of Restricted Share Units Stock to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds Shares. Participant understands that Section 83 of the sale Code taxes as ordinary income the difference between the purchase price, if any, for the Shares and the Fair Market Value of the Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Itemsas of each vesting date.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (RealPage, Inc.), Restricted Stock Award Agreement (RealPage, Inc.), Restricted Stock Award Agreement (RealPage, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges and agrees that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe PRSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe PRSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentson Shares, and the subsequent sale of the Shares; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PRSUs to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Employee has become subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding paragraph 5, prior to any relevant taxable or tax withholding event, as applicable, the Participant Employee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Company shall withhold in Shares otherwise deliverable to the Employee having a Fair Market Value equal to an amount that satisfies the Tax-Related Items required to be withheld. In the event that such withholding in Shares is problematic under applicable tax, securities, or other laws or has materially adverse accounting consequences, the Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations obligations, if any, with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Performance Restricted Stock Unit Agreement (Coherent Inc), Restricted Stock Unit Agreement (Coherent Inc), Global Performance Restricted Stock Unit Agreement (Coherent Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant; (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares; and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting vesting, or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 3 contracts

Samples: Incentive Plan Stock Option Agreement (CXApp Inc.), Stock Option Agreement (Transphorm, Inc.), Stock Option Agreement (Transphorm, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges You acknowledge that, regardless of any action taken by the Company orCompany, if differentany subsidiary or affiliate of the Company, the Subsidiary that employs the Participant including your employer (the “Employer”), the ultimate liability for all income taxtax (including U.S. and non-U.S. federal, state and local taxes), social insurancesecurity, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s your participation in the Plan and legally applicable or deemed by the Company or the Employer, in its discretion, to be an appropriate charge to you even if legally applicable to the Participant Company or the Employer (“Tax-Tax- Related Items”) is and remains the Participant’s your responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. The Participant You further acknowledges acknowledge that the Company Company, any subsidiary or affiliate and/or the Employer Employer: (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs or underlying shares of Common Stock, including, but not limited toincluding the grant of the RSUs, the grantvesting of RSUs, vesting the conversion of the RSUs into shares of Common Stock or settlement the receipt of Restricted Shares Unitsan equivalent cash payment, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and and, (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s your liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if you are subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any In connection with the relevant taxable or tax withholding event, as applicable, the Participant will pay or you agree to make adequate arrangements satisfactory to the Company and/or or the Employer to satisfy all Tax-Related ItemsItems that require withholding by the Company or the Employer. In this regard, by your acceptance of the Participant authorizes RSUs, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their any applicable withholding obligations or rights with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share UnitsSpecial Retention Awards; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Special Retention Award Agreement (Arconic Corp), Special Retention Award Agreement (Arconic Corp), Special Retention Award Agreement (Howmet Aerospace Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toto the grant of the Restricted Stock Units, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares in settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Employee Restricted Stock Unit Grant Agreement (Starbucks Corp), Key Employee Restricted Stock Unit Grant Agreement (Starbucks Corp), Global Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, Grantee’s employer or any parent or Subsidiary of the Subsidiary that employs the Participant Company to which Grantee is providing services (together, the “EmployerService Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Grantee’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee, (ii) Grantee’s and, to the Participant extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Grantee has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the ParticipantGrantee’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant Grantee further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Grantee is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Grantee acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Withholding Obligations (as defined below) in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Bakkt Holdings, Inc.), Restricted Stock Unit Agreement (Bakkt Holdings, Inc.), Restricted Stock Unit Agreement (Bakkt Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Awardee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant entity to which Awardee is providing Service (the “Employer”), ) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to the Participant Awardee (“Tax-Related Items”) ), is and remains the ParticipantAwardee’s responsibility and may exceed the any amount actually withheld by the Company or the Employer. The Participant Awardee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Stock Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Stock Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalentsother distributions; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Award to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Awardee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the Participant as applicable, Awardee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to Awardee authorizes the Company and/or the Employer to satisfy all Tax-Related Items. In this regardto, in the Participant authorizes sole discretion of the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items legally payable by one or a combination of the following: (i) requiring a cash payment Awardee from the Participant; (ii) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company and/or the Employer, (iii) withholding within legal limits, or from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsShares. Alternatively, either through a voluntary sale or through a mandatory sale arranged by in addition, if permissible under local law, the Company may in its sole discretion (1) sell or arrange for the sale of Shares that Awardee acquires to meet the withholding obligation for Tax-Related Items (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); (iv) withholding from the Shares subject to Restricted Share Units; , and/or (v2) any other method of withholding determined by withhold in Shares, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount. Notwithstanding the foregoing, if Awardee is an officer of the Company within the meaning of the Exchange Act, then the Company will withhold in Shares unless the use of such withholding method is not practicable under applicable tax or securities laws or has materially adverse accounting consequences, in which case, the obligation for Tax-Related Items may be satisfied by one or a combination of methods (1) and permitted by applicable law(2) above. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Awardee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsStock Award, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Awardee agrees to pay to the Company and/or or the Employer Employer, any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Awardee fails to comply with his or her Awardee’s obligations in connection with the Tax-Related Items.

Appears in 3 contracts

Samples: Global Stock Award Agreement (Keysight Technologies, Inc.), Global Stock Award Agreement (Keysight Technologies, Inc.), Keysight Technologies, Inc.

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges and agrees that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually (if any) withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentson Shares, and the subsequent sale of the Shares; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Employee has become subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Employee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Company shall withhold in Shares otherwise deliverable to the Employee having a Fair Market Value equal to an amount that satisfies the Tax-Related Items required to be withheld. In the event that such withholding in Shares is problematic under applicable tax, securities or other laws, or has materially adverse accounting consequences, the Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations obligations, if any, with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 3 contracts

Samples: Equity Incentive Plan (Coherent Inc), Equity Incentive Plan (Coherent Inc), Global Restricted Stock Unit Agreement (Coherent Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs employing the Participant Employee (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and may exceed the amount actually to be withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Employee is subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to If any relevant taxable or tax withholding eventis required when Shares are issued as payment for vested Restricted Stock Units or, in the discretion of the Company, at such earlier time as applicablethe Tax-Related Items are due, the Participant Company will withhold a portion of the Shares that has an aggregate market value sufficient to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regardaddition and to the maximum extent permitted by law, the Participant authorizes the Company and/or (or the Employer) has the right to retain without notice from any fees, salary or their respective agentsother amounts payable to the Employee, at their discretion, cash having a sufficient value to satisfy their withholding obligations with regard to all any Tax-Related Items that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares or that are due prior to the issuance of Shares under the Restricted Stock Unit Award. Notwithstanding the foregoing, the Company, in its sole discretion, may require the Employee to make alternate arrangements satisfactory to the Company for payment of such Tax-Related Items before they arise. Further, if permissible under applicable local law, the Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require the Employee to satisfy the Tax‑Related Items, in whole or in part, by one selling a sufficient number of Shares otherwise deliverable to the Employee through such means as the Company may determine in its sole discretion, including through a broker‑assisted arrangement or a combination of otherwise, equal to the following: amount to be withheld (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages and any associated broker or other cash compensation paid to the Participant fees, as applicable). To avoid negative tax consequences, if Tax-Related Items are satisfied by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of in Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodotherwise issuable, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or. In addition, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Employee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Restricted Stock Units. FinallyNotwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Participant shall pay Company) have been made by the Employee with respect to the Company and/or the Employer payment of any amount of Tax-Related Items that the Company and/or determines must be withheld or collected with respect to the Employer may be required Restricted Stock Units. If the Employee fails to withhold make satisfactory arrangements for the payment of any Tax‑Related Items at the time any applicable Restricted Stock Units otherwise vest pursuant to this Agreement or account for as a result the terms of the Participant’s participation in Plan, or at the Plan that cannot be satisfied by time any Tax‑Related Items with respect to the means previously described. The Company may refuse Restricted Stock Units otherwise are due, the Employee permanently will forfeit such Restricted Stock Units and any right to issue or deliver receive the Shares or thereunder and the proceeds of Restricted Stock Units will be returned to the sale of Shares if Company at no cost to the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsCompany.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Quantum Corp /De/), Restricted Stock Unit Agreement (Quantum Corp /De/), Restricted Stock Unit Agreement (Quantum Corp /De/)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant or Participant’s Employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Units, including, but not limited to, the grant, vesting or settlement of Restricted the Units, the issuance of Shares upon settlement of the Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant tax withholding event, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, if Participant is not subject to Section 16 of the Exchange Act, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, ; (iiiii) withholding from the proceeds of the sale of Shares acquired pursuant to upon settlement of the Restricted Share Units, Units either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentauthorization); (iii) withholding in Shares to be issued upon settlement of the Units; or (iv) withholding from requiring Participant to pay, by cash or certified check, the Shares amount necessary to satisfy Participant’s obligations with regard to Tax-Related Items. Notwithstanding the foregoing, if Participant is subject to Restricted Share Section 16 of the Exchange Act, such Participant may satisfy the obligations with regard to Tax-Related Items, in whole or in part, by either (i) electing to have the Company withhold in Shares to be issued upon settlement of the Units; and/or or (vii) paying, by cash or certified check, the amount necessary to satisfy such Participant’s obligations with regard to Tax-Related Items. In any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodcase, to avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The the Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Global Award Agreement (Motorola Mobility Holdings, Inc), Restricted Stock Unit Global Award Agreement (Motorola Mobility Holdings, Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Grantor and/or Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant withholding (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items legally due by Participant is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company Grantor and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Award, including the grant of the Restricted Shares Stock Units, including, but not limited tothe vesting of the Restricted Stock Units, the grant, vesting or settlement delivery of Restricted Shares Unitsshares of Common Stock, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends Dividend Equivalents or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdictionItems. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company Grantor and/or the Employer to satisfy all Tax-Related ItemsItems withholding obligations of the Grantor and/or the Employer. In this regard, the Participant authorizes the Company Grantor and/or the Employer to withhold all applicable Tax-Related Items legally payable by Participant from any wages or other cash compensation paid to Participant by the Grantor and/or the Employer. Alternatively, or in addition, Participant authorizes the Grantor and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding the obligations with regard to all Tax-Related Items legally payable by Participant by one or a combination of the following: (i) requiring a cash payment from withholding otherwise deliverable shares of Common Stock, provided that the ParticipantGrantor only withholds the amount of shares of Common Stock necessary to satisfy the minimum withholding amount; and (ii) withholding from arranging for the sale of shares of Common Stock otherwise deliverable to Participant (on Participant’s wages or other cash compensation paid behalf and at Participant’s direction pursuant to the Participant by the Company and/or the Employer, (iiithis authorization) and withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesshares. If the obligation for Tax-Related Items is satisfied by withholding in Sharesa number of shares of Common Stock as described herein, the Participant is deemed, for tax purposes, deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares UnitsAward, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Award. Finally, the Participant shall pay to the Company Grantor and/or the Employer any amount of Tax-Related Items that the Company Grantor and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company Grantor may refuse to issue or deliver the Shares or the proceeds to Participant any shares of the sale of Shares Common Stock pursuant to Participant’s Award if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related ItemsItems as described in this section.

Appears in 2 contracts

Samples: Restricted Unit Grant Agreement (American Standard Companies Inc), Restricted Unit Grant Agreement (WABCO Holdings Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsPSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the PSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the PSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Allegion PLC), Performance Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Award Agreement, no Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Award Agreement (except if the Administrator) will have been made by Participant is subject with respect to the shortpayment of Tax-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Related Items. The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs the employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s sole responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and exercise of the receipt of any dividends or dividend equivalents; Option, and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior The Administrator, in its sole discretion and pursuant to any relevant taxable such procedures as it may specify from time to time, may permit or tax withholding event, as applicable, the require Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all such Tax-Related Items. In this regard, the Participant authorizes in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company and/or withhold otherwise deliverable Shares, (c) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the EmployerCompany may determine in its sole discretion (whether through a broker or otherwise) and without further consent from Participant, (d) electing to have the Company or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment Employer withhold from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid payable to the Participant by the Company and/or the EmployerParticipant, or (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (ve) any other method of withholding determined by the Company and permitted by applicable lawApplicable Laws and the Plan. Depending on To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any withholding methodobligations or rights with regard to Tax-Related Items by means of method (b) above and, until determined otherwise by the Company, this will be the method by which such withholding obligations or rights with regard to Tax-Related Items are satisfied; provided, however, that if Participant is a Section 16 officer of the Company under the Exchange Act, the Company will, in all cases, satisfy any Tax-Related Items by means of method (b) above, unless the use of such withholding method is problematic under applicable tax or securities law or has materially adverse accounting consequences, in which case the obligation for Tax-Related Items may be satisfied by one or a combination of the other methods above. The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including minimum or maximum rates applicable ratesin Participant’s jurisdiction(s). In the event of over-withholding, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) orequivalent in Shares), or if not refunded, the Participant may be able to seek a refund from the local tax authorities. In the even of under-withholding, Participant may be required to pay additional Tax Related Items directly to the applicable tax authority. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercise of the Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her Participant’s obligations in connection with the for Tax-Related Items.

Appears in 2 contracts

Samples: Equity Incentive Plan (Palo Alto Networks Inc), Award Agreement (Palo Alto Networks Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company orCorporation or Optionee’s Employer takes with respect to any or all Tax-Related Items, if different, the Subsidiary Optionee acknowledges that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company Corporation or the Employer. The Participant Optionee further acknowledges that the Company Corporation and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe option, the subsequent sale of shares of Option Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company Corporation and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company Corporation and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company Corporation and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company Corporation and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares of Common Stock acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company Corporation (on the ParticipantOptionee’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares of Common Stock to be issued at exercise of the Shares subject to Restricted Share Units; and/or (v) Option. To avoid any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodnegative accounting treatment, the Company Corporation may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Common Stock, for tax purposes, Optionee is deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares Unitsexercised Options, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Optionee’s participation in the Plan. Finally, the Participant Optionee shall pay to the Company and/or Corporation or the Employer any amount of Tax-Related Items that the Company and/or Corporation or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company Corporation may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares shares of Common Stock if the Participant Optionee fails to comply with his or her Optionee’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: www.sec.gov, Stock Option Agreement (Amyris Biotechnologies Inc)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of the Award Agreement Agreement, no certificate representing the Shares will be issued to Participant, unless and until satisfactory arrangements (except if as determined by the Administrator) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant or deemed by the Company or Participant’s employer (the “Employer”) in its discretion to be an appropriate charge to Participant even if legally applicable to the Company or the Employer (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by which the Company determines must be withheld with respect to the Option or the Employersuch Shares. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to upon exercise of the Restricted Share Unit Option and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges and agrees that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Stock Option Award Agreement (Cyan Inc), Equity Incentive (Cyan Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Service Recipients take with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the EmployerService Recipients. The Participant Optionee further acknowledges that the Company and/or the Employer Service Recipients (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, but not limited to, the grant, vesting or settlement exercise of Restricted the Options, the delivery of Shares Unitsupon exercise of the Options, the subsequent sale of Shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Options or any aspect of the Restricted Share Units Options to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, the Participant Optionee acknowledges that the Company and/or the Employer Service Recipients (or former employerthe Subsidiary or Affiliate formerly employing or retaining the Optionee, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer Service Recipients to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the EmployerService Recipients, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Stock Option Agreement, Stock Option Agreement (Gardner Denver Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretionits discretion and pursuant to such procedures as it may specify from time to time, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: www.sec.gov, Award Agreement (Apple Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant and/or Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting vesting, settlement, release or cancellation of the PSUs, the issuance of Shares upon settlement of Restricted Shares Unitsthe PSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalents; dividends, and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. For purposes of this section, any reference to Employer shall include any former employer, if applicable. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all the Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, Employer (or their respective agents), at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all the Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Performance Stock Unit Award Agreement (Ebay Inc), Performance Stock Unit Award Agreement (Ebay Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items that become payable in a year prior to the year in which shares of Stock are issued upon settlement of the Restricted Stock Units), or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.), Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Apple Inc.), Restricted Stock Unit Award Agreement (Apple Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Loyalty Ventures Inc.), Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by Micro or the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to Awardee or deemed by Micro or the Participant Employer to be an appropriate charge to Awardee even if technically due by Micro or the Employer (“Tax-Related Items”) ), Awardee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantAwardee’s responsibility and may exceed the amount actually withheld by the Company Micro or the Employer. The Participant Awardee further acknowledges that the Company Micro and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsStock Unit Award, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Unit Award, the issuance of Shares Unitsupon settlement of the Restricted Stock Unit Award, the subsequent sale of Shares acquired pursuant to the Restricted Share Stock Unit Award and the receipt of any dividends or dividend equivalentsother distributions, if any; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Unit Award to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Awardee has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Awardee acknowledges that the Company Micro and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant Awardee will pay or make adequate arrangements satisfactory to the Company Micro and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Awardee authorizes the Company Micro and/or the Employer, or their respective agents, at their discretionsole discretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company Micro and/or the Employer, ; (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Unit Award, either through a voluntary sale or through a mandatory sale arranged by the Company Micro (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); or (iv3) withholding from in Shares acquired pursuant to the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawStock Unit Award. Depending on the withholding methodTo avoid negative accounting treatment, the Company Micro may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedShares as described herein, for tax purposes, Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsStock Unit Award, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Awardee’s participation in the Plan. Finally, the Participant shall Awardee will pay to the Company and/or Micro or the Employer any amount of Tax-Related Items that the Company and/or Micro or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan or Awardee’s acquisition of Shares that cannot be satisfied by the means previously described. The Company Awardee acknowledges and agrees that should the amount of withholding for Tax-Related Items be in excess of the actual tax due, Micro and/or the Employer will refund the excess amount to him or her as soon as administratively practicable and without any interest. Micro may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant Awardee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: 2003 Equity Incentive Plan Restricted Stock Unit Award Agreement (Ingram Micro Inc), 2003 Equity Incentive Plan Restricted Stock Unit Award Agreement (Ingram Micro Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method the “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items that become payable in a year prior to the year in which shares of Stock are issued upon settlement of the Restricted Stock Units), or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.), Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Recipient acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), Employer the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantRecipient’s participation in the Plan and legally applicable to the Participant Recipient or deemed by the Company or the Employer to be an appropriate charge to the Recipient even if technically due by the Company or the Employer (“Tax-Related Items”) ), is and remains the ParticipantRecipient’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Recipient further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalents; any Dividend Equivalent Payment, and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the ParticipantRecipient’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Recipient is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Recipient acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Recipient agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Recipient authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Global Restricted Stock Unit Agreement (Nike Inc), Global Restricted Stock Unit Agreement (Nike Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax TaxRelated Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the RSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Allegion PLC), Restricted Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance RSUs, including, but not limited toto the grant of the Performance RSUs, the grant, vesting or settlement of Restricted the Performance RSUs, the issuance of Shares Unitsin settlement of the Performance RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Performance RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items Items, if any, by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Global Key Employee Restricted Stock Unit Grant Agreement (Starbucks Corp), Employee Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision The following section replaces paragraph 6 Section 3 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). in its entirety: The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Employee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsShares, including, but not limited to, the grant, grant or vesting or settlement of the Restricted Shares UnitsShares, the subsequent sale of Shares shares of common stock acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Shares to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Employee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Employee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the followingfollowing methods: (i) requiring a cash payment from by the ParticipantEmployee to the Company, on demand, by cash, check or other method of payment as may be determined acceptable by the Company; (ii) withholding from the ParticipantEmployee’s wages or other cash compensation paid to the Participant Employee by the Company and/or the Employer, ; (iii) withholding from the proceeds of the sale of Shares acquired pursuant to shares of common stock at vesting of the Restricted Share Units, Shares either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantEmployee’s behalf pursuant to this authorization authorization) without further consent); or (ivii) withholding from shares of common stock at vesting of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawShares. Depending on the withholding method, the Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share common stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of common stock, for tax purposes, the Employee is deemed to have been issued the full number of Shares shares of common stock subject to the vested Restricted Shares UnitsShares, notwithstanding that a number of the Shares is shares of common stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Employee agrees to pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantEmployee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares shares of common stock, if the Participant Employee fails to comply with his or her the Employee’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Restricted Stock Agreement Qualified Retirement (Group 1 Automotive Inc), Restricted Stock Agreement (Group 1 Automotive Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Optionee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Optionee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) ), is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Exercised Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Optionee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Optionee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by means of one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Exercised Shares acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantOptionee’s behalf pursuant to this authorization authorization) without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Optionee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Optionee agrees to pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Stock Option Agreement (Echelon Corp), Stock Option Agreement (Echelon Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toto the grant of the Restricted Stock Units, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares in settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization 3 of 11 by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Grant Agreement, Global Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Employee acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs employing the Participant Employee (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantEmployee’s participation in the Plan and legally applicable to the Participant Employee (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and may exceed the amount actually to be withheld by the Company or the Employer. The Participant Employee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Employee is subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to If any relevant taxable or tax withholding eventis required when Shares are issued as payment for vested Restricted Stock Units or, in the discretion of the Company, at such earlier time as applicablethe Tax-Related Items are due, the Participant Company will withhold a portion of the Shares that has an aggregate market value sufficient to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regardaddition and to the maximum extent permitted by law, the Participant authorizes the Company and/or (or the Employer) has the right to retain without notice from any fees, salary or their respective agentsother amounts payable to the Employee, at their discretion, cash having a sufficient value to satisfy their withholding obligations with regard to all any Tax-Related Items by one that the Company determines cannot be satisfied through the withholding of otherwise deliverable Shares or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid that are due prior to the Participant by issuance of Shares under the Restricted Stock Unit Award. Notwithstanding the foregoing, the Company, in its sole discretion, may require the Employee to make alternate arrangements satisfactory to the Company and/or the Employerfor payment of such Tax-Related Items before they arise. To avoid negative tax consequences, (iii) if Tax-Related Items are satisfied by withholding from the proceeds of the sale of in Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodotherwise issuable, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Employee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or. In addition, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Employee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Restricted Stock Units. FinallyNotwithstanding any contrary provision of this Agreement, no Shares will be issued unless and until satisfactory arrangements (as determined by the Participant shall pay Company) have been made by the Employee with respect to the Company and/or the Employer payment of any amount of Tax-Related Items that the Company and/or determines must be withheld or collected with respect to the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsRestricted Stock Units.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Quantum Corp /De/), Restricted Stock Unit Agreement (Quantum Corp /De/)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Optionee’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Options, including, including but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Options, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Options to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become Optionee is subject to tax in more than one jurisdiction, the Participant he or she acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to exercise of the Options or any other relevant taxable or tax withholding event, as applicable, the Participant will Optionee must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at in their sole discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Option Grant Agreement (Starbucks Corp), Stock Option Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 paragraphs 12 through 15 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of a Section 16(b) of the Securities Exchange Act of 1934, as amended16 Insider). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Stock Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Stock Option, the subsequent sale of Shares acquired pursuant to upon exercise of the Restricted Share Unit Stock Option and the receipt of any dividends or dividend equivalentsdividends; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Stock Option or any aspect of the Restricted Share Units Stock Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Awardthe Stock Option. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Option, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method be issued upon exercise of withholding determined by the Company and permitted by applicable lawStock Option. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to upon exercise of the vested Restricted Shares UnitsStock Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Award Agreement (Arconic Inc.), Award Agreement (Arconic Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”) or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all income taxfederal, social insurancestate, payroll tax, fringe benefits tax, payment on account and local taxes (including Participant’s Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the Tax-Related ItemsTax Obligations) ), is and remains the Participant’s sole responsibility and may exceed the amount actually withheld by the Company or the Employerapplicable Service Recipient(s). The Participant further acknowledges that the Company and/or the Employer no Service Recipient (aA) make no makes any representations or undertakings regarding the treatment of any Tax-Related Items Tax Obligations in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalents; other distributions, and (bB) do not commit makes any commitment to and are is under no any obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items Tax Obligations or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax Obligations in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges that the Company and/or the Employer applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Tax-Related Items Tax Obligations in more than one jurisdiction. Prior If Participant fails to make satisfactory arrangements for the payment of any relevant required Tax Obligations hereunder at the time of the applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company acknowledges and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items agrees that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsShares.

Appears in 2 contracts

Samples: Stock Option Agreement (Penumbra Inc), Stock Option Agreement (Realnetworks Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsPSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the PSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Allegion PLC), Performance Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Apple Inc), Restricted Stock Unit Award Agreement (Apple Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, and/or the Parent or Subsidiary that employs the Participant employing Grantee (the “Employer”), the ultimate liability for any and all income taxtax (including U.S. or non-U.S. federal, state, and/or local taxes), social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee or deemed by the Participant Company or the Employer in their reasonable discretion to be an appropriate charge to Grantee even if legally applicable to the Company or Employer (“Tax-Related Items”) is and remains the ParticipantGrantee’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance Shares, including, but not limited toincluding the grant of the Performance Shares, the grantvesting of Performance Shares, vesting or the settlement of Restricted Shares Unitsthe Performance Shares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Performance Shares to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding any contrary provision of this Agreement, no payment pursuant to the Performance Shares will be made to Grantee, unless and until satisfactory arrangements (as determined by 1 For the purposes of this Agreement, the phrase “Grantee’s country” refers to any country whose laws and regulations apply to Grantee during the relevant taxable or tax withholding eventtime period, as applicabledetermined by the Company in its sole discretion. Grantee should speak with his or her personal legal and tax advisor for more information as to which countries this phrase may include, based on Grantee’s personal circumstances. the Participant will pay or make adequate arrangements satisfactory Administrator) have been made by Grantee with respect to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to payment of all Tax-Related Items which the Company determines must be withheld with respect to the Performance Shares. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may require Grantee to satisfy withholding obligations for Tax-Related Items, in whole or in part, by one or a combination more of the following: following (iwithout limitation): (a) requiring a cash payment from the Participant; paying cash, (iib) withholding from the ParticipantGrantee’s wages or other cash compensation paid to the Participant Grantee by the Company and/or the Employer, (iiic) withholding from the proceeds selling a sufficient number of the sale of such Shares acquired pursuant otherwise deliverable to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantee (on the ParticipantGrantee’s behalf pursuant to this authorization without further consent) through such means as the Company may determine in its sole discretion (whether through a broker or otherwise); , or (ivd) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method otherwise deliverable Shares, provided, however, that if Grantee is a Section 16 officer of withholding determined by the Company and permitted under the Exchange Act, then the obligation for Tax-Related Items will be satisfied only by applicable lawone or a combination of methods (a) through (c) above. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding ratesrates in Grantee’s country, including maximum applicable rates, in which case the Participant Grantee may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Grantee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsPerformance Shares, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Performance Shares. Finally, the Participant shall pay Notwithstanding anything in this section to the Company and/or contrary, to avoid a prohibited distribution under Section 409A of the Employer Code, if Shares underlying the Performance Shares will be withheld (or sold on Grantee’s behalf) to satisfy any amount of Tax-Related Items that arising prior to the Company and/or the Employer may be required to withhold or account for as a result date of settlement of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Performance Shares or the proceeds for any portion of the sale Performance Shares that is considered “nonqualified deferred compensation” subject to Section 409A of the Code, the number of Shares if withheld (or sold on Grantee’s behalf) shall not exceed the Participant fails to comply with his or her obligations in connection with number of Shares that equals the liability for the Tax-Related Items. If Grantee fails to make satisfactory arrangements for the payment of any Tax-Related Items hereunder, Grantee will permanently forfeit such Shares and the Shares will be returned to the Company at no cost to the Company.

Appears in 2 contracts

Samples: Performance Share Agreement (Maxim Integrated Products Inc), Performance Share Agreement (Maxim Integrated Products Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Grantor and/or Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company Grantor or the Employer. The Participant further acknowledges that the Company Grantor and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Award, including the grant of the Restricted Shares Units, including, but not limited tothe vesting of the Restricted Units, the grant, vesting or settlement delivery of Restricted Shares Unitsshares of Common Stock, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends Dividend Equivalents or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax resultItems. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant acknowledges that the Company Grantor and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Notwithstanding anything to the contrary in this Section 4(a), the right of the Grantor or the Employer to withhold any Tax-Related Items for any portion of the Award that is considered deferred compensation subject to Code Section 409A shall be limited to the minimum amount permitted to avoid a prohibited acceleration under Code Section 409A. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company Grantor and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company Grantor and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid otherwise payable to the Participant by the Company Grantor and/or the Employer, (iii) ; and/or • withholding from the proceeds of the sale of Shares shares of Common Stock acquired pursuant to upon vesting of the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantor (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Unitsauthorization; and/or (v) any other method • withholding in shares of withholding determined by Common Stock to be issued upon vesting of the Company and permitted by applicable lawRestricted Units. Depending on the withholding methodTo avoid negative accounting treatment, the Company Grantor may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Common Stock, for tax purposes, Participant will be deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or Grantor or the Employer any amount of Tax-Related Items that the Company and/or Grantor or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company Grantor may refuse to issue or deliver to Participant any shares of Common Stock pursuant to the Shares or the proceeds of the sale of Shares Award if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related ItemsItems as described in this section.

Appears in 2 contracts

Samples: Restricted Unit Grant Agreement (WABCO Holdings Inc.), Restricted Unit Grant Agreement for Employees (WABCO Holdings Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(ba) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges You acknowledge that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant your employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-tax related items related to the Participant’s your participation in the Plan and legally applicable to the Participant you (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s your responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant You further acknowledges acknowledge that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsyour option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsyour option, the subsequent sale of Shares shares of Common Stock acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units your option to reduce or eliminate the Participant’s your liability for Tax-Related Items or achieve any particular tax result. The Participant shall You acknowledge and agree that you will not make any claim against the Company, the Employer or any other Subsidiaryof its Officers, Directors, Employees or their respective board, officers or employees related to Affiliates for Tax-Related Items arising from your option or your other compensation. In particular, you acknowledge that this Awardoption is exempt from Section 409A of the Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. FurthermoreFurther, if the Participant has become you are subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Option Agreement (Snowflake Inc.), Option Agreement (Snowflake Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company orand/or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, or deemed by the Company or the Employer in its discretion to be an appropriate charge to the Participant even if legally applicable to the Company or the Employer (collectively, “Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe grant of Purchase Rights, including, including but not limited to, the grant, vesting or settlement purchase of Restricted Shares Unitsshares of Stock, the subsequent sale of Shares shares of Stock acquired pursuant to under the Restricted Share Unit and Plan or the receipt of any dividends or dividend equivalents; dividends, and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant of the Purchase Rights or any aspect of the Restricted Share Units Participant’s Plan participation to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant the taxable or tax withholding event, as applicable, the Participant will agrees to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their any withholding obligations with regard to for all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s any wages or other cash compensation paid to the Participant by the Company and/or the Employer. Alternatively, or in addition, if permissible under local law, the Participant authorizes the Company and/or the Employer, or their respective agents, to (iiii) withholding withhold from the proceeds of the sale of Shares shares of Stock acquired pursuant to by the Restricted Share UnitsParticipant upon purchase, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization authorization, without further consent); , or (ivii) withhold shares of Stock to be issued upon purchase, provided, however, that withholding from the Shares in shares shall be subject to Restricted Share Units; and/or (v) any other method of withholding determined approval by the Company and permitted Compensation Committee to the extent deemed necessary or advisable by applicable law. Depending on the withholding method, counsel to the Company at the time of any relevant tax withholding event. The Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable ratesrates in the Participant’s jurisdiction, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Stock equivalent) or; provided, if not refundedhowever, that where the application of such maximum rates would, in the Company’s determination, result in adverse accounting consequences to the Company, the Participant may seek a refund from Company shall withhold only amounts sufficient to meet the local tax authoritiesminimum statutory Tax-Related Items required to be withheld or remitted with respect to the Participant’s participation in the Plan. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Stock, for tax purposes, the Participant is deemed to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Unitspurchase, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue purchase or deliver the Shares shares or the proceeds of the sale of Shares shares of Stock, if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: 2004 Employee Stock Purchase Plan (SALESFORCE.COM, Inc.), 2004 Employee Stock Purchase Plan (Salesforce Com Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: 2020 Arconic Stock Incentive Plan Restricted Share Unit Award Agreement, 2020 Arconic Stock Incentive Plan Restricted Share Unit Award Agreement

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by YUM! or the Company or, Participant’s employer (if different, the Subsidiary that employs the Participant ) (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and that are legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and that such liability may exceed the amount actually withheld by the Company YUM! or the Employer. The Participant further acknowledges that the Company YUM! and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe YUM! Stock Appreciation Right, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe YUM! Stock Appreciation Right, the subsequent sale of Shares shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units YUM! Stock Appreciation Right to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become becomes subject to tax and/or social security contributions in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant acknowledges that the Company YUM! and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or taxable, tax and/or social security contribution withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company YUM! and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company YUM! and/or the Employer, or their respective agents, at their sole discretion, to satisfy their withholding the obligations with regard respect to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant him or her by the Company YUM! and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares acquired pursuant to upon exercise of the Restricted Share UnitsYUM! Stock Appreciation Right, either through a voluntary sale or through a mandatory sale arranged by the Company YUM! (on the Participant’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawYUM! Stock Appreciation Right. Depending on the withholding methodTo avoid negative accounting treatment, the Company may will withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares, for tax purposes, the Participant will be deemed to have been issued the full number of Shares shares subject to the vested Restricted Shares Unitsexercised YUM! Stock Appreciation Right, notwithstanding that a number of the Shares is shares are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or YUM! or the Employer any amount of Tax-Related Items that the Company and/or YUM! or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan or the Participant’s acquisition of shares upon exercise of the YUM! Stock Appreciation Right that cannot be satisfied by the means previously described. The Company YUM! may refuse to honor the exercise and refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares the shares to the Participant if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 2 contracts

Samples: Term Incentive Plan (Yum Brands Inc), Term Incentive Plan (Yum Brands Inc)

Responsibility for Taxes. This provision replaces paragraph 6 Section 4 of the Award Agreement (except if the Participant is subject Exhibit A to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Agreement. The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee or deemed by the Company or the Employer to be an appropriate charge to the Optionee even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the issuance of shares of Class B Common Stock upon exercise of the Option, the subsequent sale of Shares shares of Class B Common Stock acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax tax-withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 2 contracts

Samples: Non Statutory Stock Option Agreement (Nike Inc), Non Statutory Stock Option Agreement (Nike Inc)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of the Award Agreement Agreement, no certificate representing the Shares (except if or proceeds from the sale of Shares) will be issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant or deemed by the Company or Participant’s employer (the “Employer”) in its discretion to be an appropriate charge to Participant even if legally applicable to the Company or the Employer (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by which the Company determines must be withheld with respect to the Restricted Stock Units or the EmployerShares. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, grant or vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to upon vesting of the Restricted Share Unit Stock Units and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges and agrees that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding eventCyan, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.Inc. 2013 EIP

Appears in 1 contract

Samples: Equity Incentive (Cyan Inc)

Responsibility for Taxes. This provision replaces paragraph 6 supplements Section 11 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). Exhibit A: The Participant acknowledges that, regardless of any action taken by hereby agrees to indemnify the Company or, if differentCompany, the Subsidiary that employs Employer and any other Affiliate and the Participant (the “Employer”), the ultimate Trustee and hold them harmless against and from any and all liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items and other amounts, or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld, any such amounts from any payment made to the Participant. Any reference to the Company or the Employer shall include a reference to the Trustee. The Participant hereby undertakes to release the Trustee from any liability in connection with respect of any aspect of these Restricted Shares Units, including, but not limited to, action or decisions duly taken and bona fide executed in relation to the grant, vesting Plan or settlement of Restricted Shares Units, the subsequent sale of any RSUs or Shares acquired pursuant under the Plan. The Participant agrees to execute any and all documents which the Restricted Share Unit and Company or the receipt of any dividends or dividend equivalents; and (b) do not commit Trustee may reasonably determine to and are under no obligation be necessary in order to structure comply with the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax resultITO. The Participant shall not make any claim against be liable for the Employer’s components of payments to the national insurance institute, unless otherwise agreed by the Participant and allowed by applicable tax laws. Furthermore, the Participant agrees to indemnify the Company, the Employer or Employer, any other SubsidiaryAffiliate and the Trustee and hold them harmless against and from any and all liability for any such tax or interest or penalty thereon that Participant has agreed to pay, including without limitation, liabilities relating to the necessity to withhold, or their respective boardto have withheld, officers or employees related any such tax from any payment made to the Participant for which the Participant is responsible. Notwithstanding anything to the contrary in the Agreement, no Tax-Related Items arising from this Awardwill be settled by withholding Shares, unless the ITA approves otherwise in writing. FurthermoreGoverning Law This section supplements Section 15(j) of Exhibit A: To the extent any covenant, if condition, or other provision of the Agreement and the rights of the Participant has become hereunder are intended to be rights granted under Section 102 and therefore determined to be subject to tax in more than one jurisdictionIsraeli law, the Participant acknowledges that the Company and/or the Employer (or former employersuch covenant, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employercondition, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination other provision of the following: (i) requiring a cash payment from Agreement shall be subject to applicable Israeli law, but shall in no way affect, impair or invalidate any other provision of the Participant; (ii) withholding from Agreement, and the Participant’s wages applicability of the Plan to such covenant, condition, or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds provision of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsAgreement.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Red Hat Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or dividend equivalentsand/or Dividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Apple Inc)

AutoNDA by SimpleDocs

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Director acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantDirector’s participation in the Plan and legally applicable to the Participant Director (“Tax-Related Items”) ), is and remains the ParticipantDirector’s responsibility and may exceed the any amount actually withheld by the Company or the EmployerCompany. The Participant Director further acknowledges that the Company and/or the Employer (a1) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantDirector’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Director is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, the Participant Director acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to The Company shall not be responsible for withholding any relevant taxable Tax-Related Items unless required by law and the Director acknowledges that the Director will consult with his or her personal tax advisor regarding the Tax-Related Items that arise in connection with the Option. To the extent that tax withholding event, as applicableis required under any applicable laws, the Participant will Director shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related ItemsItems withholding obligations of the Company. In this regard, the Participant Director authorizes the Company and/or the Employer, or their respective agentsCompany, at their discretion, its sole discretion to satisfy their withholding the obligations with regard to all applicable Tax-Related Items legally payable by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantDirector’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, Company; (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to upon exercise of the Restricted Share Units, either through a voluntary Option; (3) arranging for the sale or through a mandatory sale arranged by of Shares acquired upon exercise of the Company Option (on the ParticipantDirector’s behalf and at the Director’s discretion pursuant to this authorization without further consentauthorization); or, subject to approval by the Administrator, (iv4) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by in Shares, provided that the Company and permitted by applicable lawonly withholds the amount of Shares necessary to satisfy the minimum withholding amount. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Director will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the any withholding obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Director is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Director agrees to pay to the Company and/or the Employer Company, any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the ParticipantDirector’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Director fails to comply with his or her the Director’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Equity Incentive and Compensation Plan (Keysight Technologies, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, and/or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, or deemed by the Company or the Employer in its discretion to be an appropriate charge to the Participant even if legally applicable to the Company or the Employer, (collectively, “Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe grant of Purchase Rights, including, including but not limited to, the grant, vesting or settlement purchase of Restricted Shares Unitsshares of Stock, the subsequent sale of Shares shares of Stock acquired pursuant to under the Restricted Share Unit and Plan or the receipt of any dividends or dividend equivalents; dividends, and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant of the Purchase Rights or any aspect of the Restricted Share Units Participant’s Plan participation to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant the taxable or tax withholding event, as applicable, the Participant will agrees to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s any wages or other cash compensation paid to the Participant by the Company and/or the Employer. Alternatively, or in addition, if permissible under local law, the Participant authorizes the Company and/or the Employer, or their respective agents, to (iiii) withholding withhold from the proceeds of the sale of Shares shares of Stock acquired pursuant to by the Restricted Share UnitsParticipant upon purchase, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentauthorization); , or (ivii) withhold shares of Stock to be issued upon purchase, provided, however, that withholding from the Shares in shares shall be subject to Restricted Share Units; and/or (v) any other method of withholding determined approval by the Compensation Committee to the extent deemed necessary or advisable by counsel to the Company and permitted by applicable lawat the time of any relevant tax withholding event. Depending on the withholding method, the Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Stock equivalent) or; provided, if not refundedhowever, that where the application of such maximum rates would, in the Company’s determination, result in adverse accounting consequences to the Company, the Participant may seek a refund from Company shall withhold only amounts sufficient to meet the local tax authoritiesminimum statutory Tax-Related Items required to be withheld or remitted with respect to the Purchase Rights. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Stock, for tax purposes, the Participant is deemed to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Unitspurchase, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue purchase or deliver the Shares shares or the proceeds of the sale of Shares shares of Stock, if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: 2004 Employee Stock Purchase Plan (Salesforce Com Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges You acknowledge that, regardless of any action taken by the Company orCompany, if differentany subsidiary or affiliate of the Company, the Subsidiary that employs the Participant including your employer (the “Employer”), the ultimate liability for all income taxtax (including U.S. and non-U.S. federal, state, and local taxes), social insurancesecurity, payroll tax, fringe benefits tax, payment on account account, or other tax-related items related to the Participant’s your participation in the Plan and legally applicable or deemed by the Company or the Employer, in its discretion, to be an appropriate charge to you even if legally applicable to the Participant Company or the Employer (“Tax-Related Items”) is and remains the Participant’s your responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. The Participant You further acknowledges acknowledge that the Company Company, any subsidiary or affiliate and/or the Employer Employer: (a) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe PSUs or underlying shares of Common Stock, including, but not limited toincluding the grant of the PSUs, the grantvesting of PSUs, vesting or the settlement of Restricted Shares Unitsthe PSUs in shares of Common Stock or an equivalent cash payment, the subsequent sale of Shares any shares of Common Stock acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (b) do does not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the Participant’s your liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if you are subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any In connection with the relevant taxable or tax withholding event, as applicable, the Participant will pay or you agree to make adequate arrangements satisfactory to the Company and/or or the Employer to satisfy all Tax-Related ItemsItems that require withholding by the Company or the Employer. In this regard, by your acceptance of the Participant authorizes PSUs, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their any applicable withholding obligations or rights with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsRSUs; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax Tax‑Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items (other than U.S. Federal Insurance Contribution Act taxes or other Tax-Related Items which become payable in a year prior to the year in which the Shares are issued pursuant to the RSUs, and other than Tax-Related Items due on Dividend Equivalents), the Company will withhold Shares otherwise issuable upon settlement of the RSUs. Alternatively, or in addition, in connection with any relevant applicable taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations (if any) with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Allegion PLC)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by Ashland, or any of its Affiliates, including the Company orEmployer, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant Award (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items legally due by the Participant is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or that Ashland and its Affiliates, including the Employer. The Participant further acknowledges that the Company and/or the Employer : (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited toincluding the grant of the RSEs, the grant, vesting or of the RSEs and any payments in settlement of Restricted Shares Unitsany vested RSEs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSEs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve Items. Prior to the delivery of any particular tax result. The Participant shall not make any claim against cash payment upon the Companyvesting of the Participant’s RSEs, if the Participant’s country of residence (and/or the country of employment, if different) requires withholding of Tax-Related Items, the Employer or any other Subsidiary, or their respective board, officers or employees related shall withhold a portion of the cash payment sufficient to pay the Tax-Related Items arising required to be withheld. Alternatively, the Employer may withhold the Tax-Related Items required to be withheld from this Awardthe Participant’s regular salary/wages or any other amounts payable to the Participant. FurthermoreIn the event the withholding requirements are not satisfied through the withholding from the cash payment attributable to the vested RSEs or through the Participant’s regular salary and/or wages or any other amounts payable to the Participant, if no payment will be issued to the Participant has become (or the Participant’s estate) upon the vesting of the RSE unless and until satisfactory arrangements (as determined by the Committee) have been made by the Participant with respect to the payment of any Tax-Related Items that the Employer determines, in its sole discretion, must be withheld or collected with respect to such RSEs. If the Participant relocates to another jurisdiction during the lifetime of the RSEs, the Participant shall be responsible for notifying Ashland of such relocation and shall be responsible for compliance with all applicable tax requirements. If the Participant is subject to tax taxation in more than one jurisdiction, the Participant acknowledges and agrees that the Company Employer and/or the Employer (or former employer, as applicable) other Affiliates may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicableBy accepting this Award, the Participant will pay or make adequate arrangements satisfactory expressly and explicitly consents to the Company and/or the Employer to satisfy all Tax-Related Itemswithholding methods as provided for hereunder. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all All other Tax-Related Items by one or a combination of related to the following: (i) requiring a cash payment from the Participant; (ii) withholding from RSEs shall be the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Itemssole responsibility.

Appears in 1 contract

Samples: Restricted Stock Equivalent Agreement (Ashland Inc.)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of the Award Agreement Agreement, no certificate representing the Shares (except if or proceeds from the sale of Shares) will be issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant or deemed by the Company or Participant’s employer (the “Employer”) in its discretion to be an appropriate charge to Participant even if legally applicable to the Company or the Employer (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by which the Company determines must be withheld with respect to the Restricted Stock Units or the EmployerShares. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, grant or vesting or settlement of the Restricted Shares Stock Units, the subsequent sale of Shares acquired pursuant to upon vesting of the Restricted Share Unit Stock Units and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, the as applicable, Participant acknowledges and agrees that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Equity Incentive (Cyan Inc)

Responsibility for Taxes. This provision replaces paragraph 6 Section 4 of the Award Agreement (except if the Participant is subject Exhibit A to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Agreement. The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for Employer takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to the Participant Optionee or deemed by the Company or the Employer to be an appropriate charge to the Optionee even if technically due by the Company or the Employer (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the issuance of shares of Class B Common Stock upon exercise of the Option, the subsequent sale of Shares shares of Class B Common Stock acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant Optionee has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 6557803-v18\GESDMS Prior to any relevant taxable or tax tax-withholding event, as applicable, the Participant Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Stock Incentive Plan Non Statutory Stock Option Agreement (Nike Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Tax- Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Award Agreement

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if the Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, by the Participant’s acceptance of the RSUs, the Participant authorizes and directs the Company and any brokerage firm determined acceptable to the Company to sell on the Participant’s behalf a whole number of Shares from those Shares issued to the Participant as the Company determines to be appropriate to generate cash proceeds sufficient to satisfy the obligation for Tax-Related Items or if settled in cash, by withholding a portion of the cash payment amount otherwise payable upon settlement of the RSUs. In the event withholding by sale of Shares is problematic under applicable tax or securities law or has materially adverse accounting consequences, the Participant authorizes the Company and/or the Employer, or their its respective agents, at their discretion, agents to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination withholding in Shares to be issued upon settlement of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawRSUs. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsRSUs, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall agrees to pay to the Company or the Employer, including through withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer Employer, any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares Shares, the cash equivalent or the proceeds of the sale of Shares if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (EPAM Systems, Inc.)

Responsibility for Taxes. This The following provision replaces paragraph 6 supplements the Responsibility for Taxes section of the Award Agreement (except if Global Key Employee Restricted Stock Unit Grant Agreement: Without limitation to the Responsibility for Taxes section of the Global Key Employee Restricted Stock Unit Grant Agreement, the Participant agrees that he or she is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability liable for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is Items and remains the Participant’s responsibility hereby covenants to pay all such Tax-Related Items as and may exceed the amount actually withheld when requested by the Company or the EmployerEmployer or by Her Majesty’s Revenue and Customs (“HMRC”) (or any other tax authority or any other relevant authority). The Participant further also agrees to indemnify and keep indemnified the Company and the Employer against any Tax-Related Items that they are required to pay or withhold on the Participant’s behalf or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on the Participant’s behalf. Notwithstanding the foregoing, if the Participant is an executive officer or director of the Company (within the meaning of Section 13(k) of the Exchange Act), the Participant acknowledges that he or she may not be able to indemnify the Company or the Employer for the amount of any income tax not collected from or paid by the Participant, as it may be considered a loan. In this case, the amount of any income tax not collected within ninety (90) days of the end of the U.K. tax year in which the event giving rise to the Tax-Related Item(s) occurs may constitute a benefit to the Participant on which additional income tax and National Insurance Contributions (“NICs”) may be payable. The Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for paying to the Company and/or the Employer (aas appropriate) make no representations or undertakings regarding the treatment amount of any Tax-Related Items in connection with NICs due on this additional benefit, which may also be recovered from the Participant at any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of time by any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect means referred to in the Responsibility for Taxes section of the Global Key Employee Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsStock Unit Grant Agreement.

Appears in 1 contract

Samples: Employee Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(ba) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or and/or any dividend equivalents; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable event, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. (b) Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, ; or (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to upon vesting/settlement of the Restricted Share Units, Stock Units either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consentauthorization); or (iv3) withholding from in Shares to be issued upon vesting/settlement of the Shares subject to Restricted Share Stock Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding methodTo avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. (c) Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her the Participant’s obligations in connection with the Tax-Related Items. 4 10.

Appears in 1 contract

Samples: Plan   Restricted Stock Unit Agreement

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Award Agreement, no Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Award Agreement (except if the Administrator) will have been made by Participant is subject with respect to the shortpayment of Tax-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended)Related Items. The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs the employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s sole responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and exercise of the receipt of any dividends or dividend equivalents; Option, and (bii) do does not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior The Administrator, in its sole discretion and pursuant to any relevant taxable such procedures as it may specify from time to time, may permit or tax withholding event, as applicable, the require Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all such Tax-Related Items. In this regard, the Participant authorizes in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company and/or withhold otherwise deliverable Shares, (c) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the EmployerCompany may determine in its sole discretion (whether through a broker or otherwise) and without further consent from Participant, (d) electing to have the Company or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment Employer withhold from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid payable to the Participant by the Company and/or the Employer, or (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (ve) any other method of withholding determined by the Company and permitted by applicable lawApplicable Laws and the Plan. Depending on To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any withholding methodobligations or rights with regard to Tax-Related Items by means of method (b) above and, until determined otherwise by the Company, this will be the method by which such withholding obligations or rights with regard to Tax-Related Items are satisfied; provided, however, that if Participant is a Section 16 officer of the Company under the Exchange Act, the Company will, in all cases, satisfy any Tax-Related Items by means of method (b) above, unless the use of such withholding method is problematic under applicable tax or securities law or has materially adverse accounting consequences, in which case the obligation for Tax-Related Items may be satisfied by one or a combination of the other methods above. The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including minimum or maximum rates applicable ratesin Participant’s jurisdiction(s). In the event of over-withholding, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) orequivalent in Shares), or if not refunded, the Participant may be able to seek a refund from the local tax authorities. In the event of under-withholding, Participant may be required to pay additional Tax Related Items directly to the applicable tax authority. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant will be deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercise of the Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her Participant’s obligations in connection with the for Tax-Related Items.

Appears in 1 contract

Samples: Global Stock Option Award Agreement (Organovo Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Tax- Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum rates applicable ratesin the Participant’s jurisdiction(s). In the event of overwithholding, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalentequivalent in Shares) or, if not refunded, the Participant may seek a refund from the local tax authorities. In the event of under-withholding, the Participant may be required to pay any additional Tax-Related Items directly to the applicable tax authority or to the Company and/or the Employer. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Howmet Aerospace Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, and/or the Parent or Subsidiary that employs the Participant employing Grantee (the “Employer”), the ultimate liability for any and all income taxtax (including U.S. and non-U.S. federal, state, and/or local taxes), social insurance, payroll fringe benefit tax, fringe benefits payroll tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to Grantee or deemed by the Participant Company or the Employer in their reasonable discretion to be an appropriate charge to Grantee even if legally applicable to the Company or Employer (“Tax-Related Items”) is and remains the ParticipantGrantee’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toincluding the grant of the Restricted Stock Units, the grantvesting of Restricted Stock Units, vesting or the settlement of the Restricted Shares Stock Units, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at settlement and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Notwithstanding any contrary provision of this Agreement, no certificate representing the Shares will be issued to any relevant taxable or tax withholding eventGrantee, unless and until satisfactory arrangements (as applicable, determined by the Participant will pay or make adequate arrangements satisfactory Administrator) have been made by Grantee with respect to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to payment of all Tax-Related Items which the Company determines must be withheld with respect to the Restricted Stock Units. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may require Grantee to satisfy withholding obligations for Tax-Related Items, in whole or in part, by one or a combination more of the following: following (iwithout limitation): (a) requiring a cash payment from the Participant; paying cash, (iib) withholding from the ParticipantGrantee’s wages or other cash compensation paid to the Participant Grantee by the Company and/or the Employer, (iiic) withholding from the proceeds selling a sufficient number of the sale of such Shares acquired pursuant otherwise deliverable to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company Grantee (on the ParticipantGrantee’s behalf pursuant to this authorization without further consent) through such means as the Company may determine in its sole discretion (whether through a broker or otherwise); , or (ivd) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method otherwise deliverable Shares, provided, however, that if Grantee is a Section 16 officer of withholding determined by the Company and permitted under the Exchange Act, then the obligation for Tax-Related Items will be satisfied only by applicable lawone or a combination of methods (a) through (c) above. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding ratesrates in Grantee’s country, including maximum applicable ratesrates in Grantee’s jurisdiction(s), in which case the Participant Grantee may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant Grantee is deemed, for tax purposes, deemed to have been issued the full number of Shares subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Restricted Stock Units. Finally, the Participant shall pay Notwithstanding anything in this section to the Company and/or contrary, to avoid a prohibited distribution under Section 409A of the Employer Code, if Shares underlying the Restricted Stock Units will be withheld (or sold on Grantee’s behalf) to satisfy any amount of Tax-Related Items that arising prior to the Company and/or the Employer may be required to withhold or account for as a result date of settlement of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds Restricted Stock Units for any portion of the sale Restricted Stock Units that is considered “nonqualified deferred compensation” subject to Section 409A of the Code, the number of Shares if withheld (or sold on Grantee’s behalf) shall not exceed the Participant fails to comply with his or her obligations in connection with number of Shares that equals the liability for the Tax-Related Items. If Grantee fails to make satisfactory arrangements for the payment of any Tax-Related Items hereunder, Grantee will permanently forfeit such Shares and the Shares will be returned to the Company at no cost to the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Maxim Integrated Products Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share Units​ Award, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant’s timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the ​ The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.. ​

Appears in 1 contract

Samples: Omnibus Incentive Plan (Loyalty Ventures Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 paragraphs 12 through 15 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of a Section 16(b) of the Securities Exchange Act of 1934, as amended16 Insider). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Stock Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Stock Option, the subsequent sale of Shares acquired pursuant to upon exercise of the Restricted Share Unit Stock Option and the receipt of any dividends or dividend equivalentsdividends; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Stock Option or any aspect of the Restricted Share Units Stock Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Awardthe Stock Option. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsStock Option, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Unitsbe issued upon exercise of the Stock Option; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to upon exercise of the vested Restricted Shares UnitsStock Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Global Stock Option Award Agreement (Howmet Aerospace Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by YUM! or the Company or, Participant’s employer (if different, the Subsidiary that employs the Participant ) (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and that are legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and that such liability may exceed the amount actually withheld by the Company XXX! or the Employer. The Participant further acknowledges that the Company YUM! and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsany YUM! Stock Appreciation Right, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe YUM! Stock Appreciation Right, the subsequent sale of Shares shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units a YUM! Stock Appreciation Right to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become becomes subject to tax and/or social security contributions in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant acknowledges that the Company YUM! and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or taxable, tax and/or social security contribution withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company YUM! and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company YUM! and/or the Employer, or their respective agents, at their sole discretion, to satisfy their withholding the obligations with regard respect to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant him or her by the Company YUM! and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares acquired pursuant to the Restricted Share Unitsupon exercise of a YUM! Stock Appreciation Right, either through a voluntary sale or through a mandatory sale arranged by the Company XXX! (on the Participant’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by YUM! Stock Appreciation Right. To avoid negative accounting treatment, YUM! or the Company and permitted by applicable law. Depending on the withholding method, the Company may Employer will withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares, for tax purposes, the Participant will be deemed to have been issued the full number of Shares shares subject to the vested Restricted Shares Unitsexercised YUM! Stock Appreciation Rights, notwithstanding that a number of the Shares is shares are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Participant’s participation in the Plan. Finally, the Participant shall pay to the Company and/or YUM! or the Employer any amount of Tax-Related Items that the Company and/or YUM! or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan or the Participant’s acquisition of shares upon exercise of the YUM! Stock Appreciation Rights that cannot be satisfied by the means previously described. The Company YUM! may refuse to honor the exercise and refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares the shares to the Participant if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Term Incentive Plan (Yum Brands Inc)

Responsibility for Taxes. This Notwithstanding any contrary provision replaces paragraph 6 of this Agreement, the Company shall have no obligation to process the settlement of the Award Agreement or to deliver shares of Stock unless and until satisfactory arrangements (except if as determined by the Company) will have been made by Participant is subject with respect to the short-swing profit rules payment of Section 16(b) of the Securities Exchange Act of 1934income, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income taxemployment, social insurance, National Insurance Contributions, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to Participant including, without limitation, in connection with the Participant grant, vesting or settlement of the Award, the subsequent sale of shares of Stock acquired under the Plan and/or the receipt of any dividends on such shares of Stock which the Company determines must be withheld (“Tax-Related Items”) ). Participant authorizes the Company and/or the Affiliate to withhold any Tax-Related Items legally payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Affiliate or from proceeds of the sale of shares of Stock. Further, if Participant is subject to tax in more than one jurisdiction between the date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges and agrees that the Company and/or Affiliate employer, or former employer, as applicable, may be required to withhold or account for tax in more than one jurisdiction. Regardless of any action of the Company or the Affiliate, Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerAffiliate. The Participant further acknowledges that the Company and/or and the Employer Affiliate (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentsAward; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Units Agreement (Lululemon Athletica Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”)Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerCompany. The Participant further acknowledges that the Company and/or the Employer (a) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the EmployerCompany, or their respective its agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the EmployerCompany, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or (v) any other method , provided, however, that if the Participant is a Section 16 officer or director of the Company under the Exchange Act, then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Non Employee Director Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 As a condition to the grant, vesting and exercise of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges thatoption, regardless of any action taken by the Company or, if differentor any Subsidiary or Affiliate takes with respect to the Tax-Related Items, the Subsidiary Employee hereby acknowledges and agrees that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the ParticipantEmployee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer and its Subsidiaries and Affiliates (a1) make no representations or undertakings regarding the treatment of any the Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe option grant, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Units, the subsequent option and the immediate sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentssuch exercise; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units option to reduce or eliminate the ParticipantEmployee’s liability for Tax-Related Items any required withholding or achieve any particular tax resulttaxes due. The Participant shall Employee also agrees that he or she will not make any claim against the Company, the Employer or any of its Directors, Employees or Subsidiaries or Affiliates related to tax liabilities arising from this option. The Employee further acknowledges and agrees that the Employee is solely responsible for filing all relevant documentation that may be required in relation to the option or any Tax-Related Items other Subsidiarythan filings or documentation that is the specific obligation of the Company or any Subsidiary or Affiliate pursuant to applicable law, such as but not limited to personal income tax returns or their respective boardreporting statements in relation to the grant, officers vesting or employees related exercise of the option, the holding of Shares or any bank or brokerage account, the subsequent sale of Shares, and the receipt of any dividends. The Employee also understands that applicable laws may require varying Share or option valuation methods for purposes of calculating Tax-Related Items, and the Company and its Subsidiaries and Affiliates assume no responsibility or liability in relation to any such valuation or for any calculation or reporting of income or Tax-Related Items that may be required of the Employee under applicable laws. Further, if the Employee has become subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) any Subsidiary or Affiliate may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: 2020 Omnibus Stock Plan (Varex Imaging Corp)

Responsibility for Taxes. This provision replaces paragraph 6 (a) For purposes of the Award Agreement (except if the Participant is subject to the shortthis Agreement, “Tax-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of Related Items” means any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for or all income tax, social insuranceinsurance tax, payroll tax, fringe benefits tax, payment on account or other tax-related items related that may be applicable this Award by law or regulation of any governmental authority, whether federal, state or local, domestic or foreign. Regardless of any action the Company takes with respect to the Participant’s participation in the Plan and legally applicable to the Participant (“withholding Tax-Related Items”) is , you acknowledge that you are ultimately responsible for all Tax-Related Items and remains the Participant’s responsibility and that such Tax-Related Items may exceed the amount actually withheld by the Company or the Employer. The Participant You further acknowledges acknowledge that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited towithout limitation, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsequivalents pursuant to Shares; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s your liability for Tax-Related Items or to achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has you have become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable event, the Participant acknowledges you acknowledge that the Company and/or the Employer (or former employerEmployer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. (b) Prior to any relevant taxable or tax withholding event, as applicable, the Participant you will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the Participant’s your wages or other cash compensation paid to the Participant you by the Company and/or the Employer, ; or (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to upon exercise of the Restricted Share Units, either through a voluntary sale Option; or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv3) withholding from in Shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or Option. (vc) any other method of withholding determined by the Company and permitted by applicable law. Depending on upon the withholding method, the Company or the Employer may withhold or account for Tax-Related Items by considering applicable minimum or maximum statutory withholding rates amounts or other applicable withholding rates. In the event Tax-Related Items are over-withheld, including maximum applicable rates, in which case the Participant may you will receive a refund of in cash for any over-withheld amount in cash (with amounts and will have no entitlement to the Share Shares equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in of Shares, the Participant is you shall be deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of your participation in the Plan. Finally, the Participant (d) You shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the Participant’s your participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or honor the exercise of the Option and refuse to deliver the Shares or the proceeds of the sale of Shares if the Participant fails you fail to comply with his or her your obligations in connection with the Tax-Related Items. 7.

Appears in 1 contract

Samples: www.sec.gov

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Company’s Parent or Subsidiary that employs employing or retaining Participant with respect to any or all tax, social insurance and social security liability under Applicable Laws in connection with Participant’s participation in the Plan, this Option, and the related Shares, including, without limitation, (a) all federal, state and local income, employment and any other applicable taxes, (b) Participant’s and, to the extent required by the Company (or the Company’s Parent or Subsidiary employing or retaining Participant), fringe benefit tax liability, if any, of the Company (or the Company’s Parent or Subsidiary employing or retaining Participant) associated with the grant, vesting, or exercise of the Option, or sale of or other disposition with respect to the related Shares, and (c) all other taxes or social insurance or social security liabilities or premium with respect to which Participant has, or has agreed to bear, responsibility (the EmployerTax-Related Items”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s responsibility and may exceed the amount actually (if any) withheld by the Company or, if different, the Company’s Parent or the EmployerSubsidiary employing or retaining Participant. The Participant further acknowledges that the Company and/or and/or, if different, the Employer Company’s Parent or Subsidiary employing or retaining Participant (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting vesting, exercise, assignment, release or settlement cancellation of Restricted Shares Unitsthe Option, the subsequent sale or other disposition of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related becomes subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or and/or, if different, the Employer Company’s Parent or Subsidiary employing or retaining Participant (or former employerthe Company’s Parent or Subsidiary formerly employing or retaining Participant, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company and/or and/or, if different, the Employer Company’s Parent or Subsidiary employing or retaining Participant to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or and/or, if different, the EmployerCompany’s Parent or Subsidiary employing or retaining Participant, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (iiA) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or and/or, if different, the Employer, Company’s Parent or Subsidiary employing or retaining Participant; (iiiB) withholding from the proceeds of the sale or other disposition of Shares acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); or (ivC) withholding from in Shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawOption. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent amount in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsExercised Shares, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or or the Employer Company’s Parent or Subsidiary employing or retaining Participant any amount of Tax-Related Items that the Company and/or or the Employer Company’s Parent or Subsidiary employing or retaining Participant may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or honor the exercise and/or to deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Pacific Biosciences of California, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Parent or Subsidiary that employs the or engages Participant (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Stock Units, including, but not limited to, the grant, vesting or settlement of Restricted the Stock Units, the issuance of Shares upon settlement of the Stock Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Stock Unit Agreement (Marvell Technology Group LTD)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares UnitsSpecial Retention Awards, including, but not limited to, the grant, vesting or settlement of Restricted Shares UnitsSpecial Retention Awards, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit Special Retention Award and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Special Retention Awards or any aspect of the Restricted Share Units Special Retention Awards to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share UnitsSpecial Retention Awards, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share UnitsSpecial Retention Awards; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares UnitsSpecial Retention Awards, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Award Agreement (Arconic Corp)

Responsibility for Taxes. This provision The following section replaces paragraph 6 Section 8 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). in its entirety: The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Grantee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantGrantee’s participation in the Plan and legally applicable to the Participant Grantee (“Tax-Related Items”) is and remains the ParticipantGrantee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe PSU, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe PSUs, the subsequent sale of Shares shares of Common Stock acquired pursuant to the Restricted Share Unit such settlement and the receipt of any dividends or and/or any dividend Exhibit 10(hh) equivalents; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units PSUs to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Grantee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Grantee authorizes the Company and/or the Employer, or their respective agents, at their discretion, Employer to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination of the followingfollowing methods: (i) requiring a cash payment from by the ParticipantGrantee to the Company, on demand, by cash, check or other method of payment as may be determined acceptable by the Company; or (ii) withholding from the ParticipantGrantee’s wages or other cash compensation paid to the Participant Grantee by the Company and/or the Employer, ; or (iii) withholding from the proceeds of the sale of Shares shares of Common Stock acquired pursuant to at vesting of the Restricted Share Units, PSUs either through a voluntary sale or through a mandatory sale arranged by the Company (on the ParticipantGrantee’s behalf pursuant to this authorization authorization) without further consent); or (ivii) withholding from shares of Common Stock issuable at vesting of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawPSUs. Depending on the withholding method, the Company and/or the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Grantee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares of Common Stock, for tax purposes, the Grantee is deemed to have been issued the full number of Shares shares of Common Stock subject to the vested Restricted Shares UnitsPSUs, notwithstanding that a number of the Shares is shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Grantee agrees to pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantGrantee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares shares of Common Stock, if the Participant Grantee fails to comply with his or her the Grantee’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Performance Share Units Agreement (Harsco Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary Affiliate that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to In connection with any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or , provided, however, that if the Participant is a Section 16 officer of the Company under the Securities Exchange Act of 1934, as amended (v) any other method “Exchange Act”), then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax-Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Bread Financial Holdings, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(bi) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Units, including, but not limited to, the grant, vesting or settlement of Restricted the Units, the issuance of Shares upon settlement of the Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such issuance and the receipt of any dividends or dividend equivalentsand/or any Dividend Equivalents; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, its agent to satisfy their withholding the obligations with regard to all Tax-Related Items by one or a combination withholding in Shares to be issued upon vesting/settlement of the following: (i) requiring a cash payment from Units. In the Participant; (ii) event that such withholding from in Shares is problematic under applicable tax or securities law or has materially adverse accounting consequences, by the Participant’s wages or other cash compensation paid to acceptance of the Units, the Participant by authorizes and directs the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant its agent to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (sell on the Participant’s behalf pursuant a whole number of Shares from those Shares issued to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method Participant at vesting/settlement of withholding determined by the Units as the Company and permitted by applicable law. Depending on the withholding methoddetermines to be appropriate, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in to generate cash (with no entitlement proceeds sufficient to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If satisfy the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Award Agreement (Moneygram International Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Awardee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs entity to which the Participant Awardee is providing Service (the “Employer”), ) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantAwardee’s participation in the Plan and legally applicable to the Participant Awardee (“Tax-Related Items”) ), is and remains the ParticipantAwardee’s responsibility and may exceed the any amount actually withheld by the Company or the Employer. The Participant Awardee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantAwardee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against Further, if the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related Awardee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, the Participant Awardee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to The Awardee authorizes the Company and/or the Employer to satisfy all Tax-Related Items. In this regardto, in the Participant authorizes sole discretion of the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to withhold all applicable Tax-Related Items legally payable by one or a combination of the following: (i) requiring a cash payment Awardee from the Participant; (ii) withholding from the ParticipantAwardee’s wages or other cash compensation paid to the Participant Awardee by the Company and/or the Employer, (iii) withholding within legal limits, or from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Unitsshares of Common Stock. Alternatively, either through a voluntary sale or through a mandatory sale arranged by in addition, if permissible under local law, the Company may in its sole discretion (1) sell or arrange for the sale of shares of Common Stock that the Awardee acquires to meet the withholding obligation for Tax-Related Items (on the ParticipantAwardee’s behalf pursuant to this authorization without further consentauthorization); , (iv2) withholding withhold from proceeds of the Shares subject to Restricted Share Units; sale of shares of Common Stock acquired upon exercise of the Option and/or (v3) withhold in shares of Common Stock, provided that the Company only withholds the amount of shares of Common Stock necessary to satisfy the minimum withholding amount. Notwithstanding the foregoing, if the Awardee is an officer of the Company within the meaning of the Exchange Act, the Company shall not have discretion to withhold in shares of Common Stock, as set forth under alternative (3) above; any other method of such share withholding determined shall be approved by the Company and permitted by applicable lawAdministrator. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Awardee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, the Awardee is deemed to have been issued the full number of Shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Awardee agrees to pay to the Company and/or or the Employer Employer, any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantAwardee’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Awardee fails to comply with his or her the Awardee’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Global Stock Option Award Agreement (Keysight Technologies, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant Optionee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and legally applicable to Optionee or deemed by the Participant Employer to be an appropriate charge to Optionee even if technically due by the Employer (“Tax-Related Items”) ), is and remains the ParticipantOptionee’s responsibility and may exceed the amount actually withheld by the Company Micro or the Employer. The Participant Optionee further acknowledges that the Company and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option grant, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Optionee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, the Participant as applicable, Optionee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or Optionee agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company and/or the Employer, or their respective agents, at their discretionsole discretion and pursuant to such procedures as they may specify from time to time, to satisfy their withholding the obligations with regard to all applicable Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii1) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant Optionee by the Company and/or the Employer, ; or (iii2) withholding from the proceeds of the sale of Shares acquired pursuant to upon exercise of the Restricted Share UnitsOption, either through a voluntary sale or through a mandatory sale arranged by the Company Micro (on the ParticipantOptionee’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may Optionee will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share Common Stock equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall Optionee will pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan or Optionee’s acquisition of Shares that cannot be satisfied by the means previously described. The Company Micro may refuse to honor the exercise and refuse to issue or deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: 2011 Incentive Plan (Ingram Micro Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company BioLargo or, if different, the a Parent, Subsidiary that employs the or Affiliate employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company BioLargo or the Employer. The Participant further acknowledges that the Company BioLargo and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthis Option, including, but not limited to, the grant, vesting or settlement exercise of Restricted Shares Unitsthis Option, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units this Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company BioLargo and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related ItemsPARTICIPANT SHOULD CONSULT A TAX ADVISER APPROPRIATELY QUALIFIED IN THE COUNTRY OR COUNTRIES IN WHICH PARTICIPANT RESIDES OR IS SUBJECT TO TAXATION BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES.

Appears in 1 contract

Samples: Stock Option Award Agreement (Biolargo, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”)Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the EmployerCompany. The Participant further acknowledges that the Company and/or the Employer (a) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Award, including, but not limited to, the grant, vesting or settlement of Restricted Shares Unitsthe Award, the subsequent sale of Shares shares of Stock acquired pursuant to the Restricted Share Unit Award and the receipt of any dividends or dividend equivalentsDividend Equivalents; and (b) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the EmployerCompany, or their respective its agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingby: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the EmployerCompany, (iii) withholding from the proceeds of the sale of Shares Stock acquired pursuant to the Restricted Share UnitsAward, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); and/or (iv) withholding from the Shares shares of Stock subject to the Restricted Share Stock Units; and/or (v) any other method , provided, however, that if the Participant is a Section 16 officer of the Company under the Exchange Act, then the Participant may elect the form of withholding determined by from the alternatives above in advance of any tax withholding event, and in the absence of the Participant's timely election, the Company and permitted by applicable lawwill withhold in shares of Stock, or the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) may determine that a particular method be used to satisfy any withholding obligations for Tax‑Related Items. Depending on the withholding method, the The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may will receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent in Stock. If the obligation for Tax-Related Items is satisfied by withholding in Sharesshares of Stock, the Participant is deemed, for tax purposes, to have been issued the full number of Shares shares of Stock subject to the vested Restricted Shares Stock Units, notwithstanding that a number of the Shares is shares of Stock are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or Stock, the proceeds of the sale of Shares Stock or cash in the amount of any Dividend Equivalents if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Non Employee Director Restricted Stock Unit Award Agreement (Alliance Data Systems Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares Stock Units, including, but not limited toto the grant of the Restricted Stock Units, the grant, vesting or settlement of Restricted the Performance RSUs, the issuance of Shares Unitsin settlement of the Performance RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Stock Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdictionjurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Global Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by YUM! or the Company or, Optionee’s employer (if different, the Subsidiary that employs the Participant ) (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the ParticipantOptionee’s participation in the Plan and that are legally applicable to the Participant Optionee (“Tax-Related Items”) ), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s his or her responsibility and that such liability may exceed the amount actually withheld by the Company YUM! or the Employer. The Participant Optionee further acknowledges that the Company YUM! and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, including the grant, vesting or settlement exercise of Restricted Shares Unitsthe Option, the subsequent sale of Shares shares acquired pursuant to under the Restricted Share Unit Plan and the receipt of any dividends or dividend equivalentsdividends; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the ParticipantOptionee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become Optionee becomes subject to tax and/or social security contributions in more than one jurisdictionjurisdiction between the date of grant and the date of any relevant taxable, tax and/or social security contribution withholding event, as applicable, the Participant Optionee acknowledges that the Company YUM! and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or taxable, tax and/or social security contribution withholding event, as applicable, the Participant will Optionee shall pay or make adequate arrangements satisfactory to the Company YUM! and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant Optionee authorizes the Company YUM! and/or the Employer, or their respective agents, at their sole discretion, to satisfy their withholding the obligations with regard respect to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the ParticipantOptionee’s wages or other cash compensation paid to the Participant him or her by the Company YUM! and/or the Employer, ; or (iiiii) withholding from the proceeds of the sale of Shares shares acquired pursuant to upon exercise of the Restricted Share UnitsOption, either through a voluntary sale or through a mandatory sale arranged by the Company YUM! (on the ParticipantOptionee’s behalf pursuant to this authorization without further consentauthorization); or (iviii) withholding from in shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawOption. Depending on the withholding methodTo avoid negative accounting treatment, the Company may will withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates amounts or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemedshares, for tax purposes, the Optionee will be deemed to have been issued the full number of Shares shares subject to the vested Restricted Shares Unitsexercised Option, notwithstanding that a number of the Shares is shares are held back solely for the purpose of paying the Tax-Related ItemsItems due as a result of any aspect of the Optionee’s participation in the Plan. Finally, the Participant Optionee shall pay to the Company and/or YUM! or the Employer any amount of Tax-Related Items that the Company and/or YUM! or the Employer may be required to withhold or account for as a result of the ParticipantOptionee’s participation in the Plan or Optionee’s acquisition of shares upon exercise of the Option that cannot be satisfied by the means previously described. The Company YUM! may refuse to honor the exercise and refuse to issue or deliver the Shares shares or the proceeds of the sale of Shares the shares to the Optionee if the Participant Optionee fails to comply with his or her Optionee’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Global Non Qualified Stock Option Agreement (Yum Brands Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless Regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Performance RSUs, including, but not limited toto the grant of the Performance RSUs, the grant, vesting or settlement of Restricted the Performance RSUs, the issuance of Shares Unitsin settlement of the Performance RSUs, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit at vesting and the receipt of any dividends or and/or any dividend equivalents; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units Award or any aspect of the Restricted Share Units Performance RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become is subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant hereby authorizes the Company and/or the Employer, or their respective agents, at in their discretionsole discretion and without any notice to or additional authorization by the Participant, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Employee Restricted Stock Unit Grant Agreement (Starbucks Corp)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company Workday or, if different, the Subsidiary that employs the Participant Participant’s employer (the “Employer”), ) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) ), is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company Workday or the Employer. The Participant further acknowledges that the Company Workday and/or the Employer (a1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe RSUs, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the RSUs and the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalentssuch settlement; and (b2) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company Workday and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. PARTICIPANT SHOULD CONSULT A TAX ADVISER APPROPRIATELY QUALIFIED IN THE COUNTRY OR COUNTRIES IN WHICH PARTICIPANT RESIDES OR IS SUBJECT TO TAXATION. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company Workday and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company Workday and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding the obligations with regard to all Tax-Related Items Items, if any, by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Workday, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary that employs the Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Units, including, but not limited to, the grant, vesting or settlement of Restricted Shares Units, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit and the receipt of any dividends or dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the Restricted Share Units or any aspect of the Restricted Share Units to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant Seller shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the followingresponsible for: (i) requiring all Taxes imposed on the Seller (including any Taxes determined on a cash payment consolidated, combined, or unitary basis with respect to an Affiliated Group that includes or included the Company and the Subsidiaries and Taxes resulting from the ParticipantCompany and the Subsidiaries ceasing to be a member of the Affiliated Group of which the Seller is a member) for any taxable year or period that ends on or before the Closing Date; (ii) withholding from all Taxes imposed on the Participant’s wages Seller or other cash compensation paid the Company and the Subsidiaries, or for which the Seller or the Company and the Subsidiaries may otherwise be liable, including any and all liability as a result of Treasury Regulation Section 1.1502-6 (and any similar provision under state, local or foreign Tax law) and any payments to be made after the Closing Date under any Tax sharing, Tax indemnity, Tax allocation or similar contracts (whether or not written) to which the Company or any of the Subsidiaries was obligated, or was a party, on or prior to the Participant by Closing Date, for any taxable year or period that ends on or before the Company and/or the Employer, Closing Date; (iii) withholding from the proceeds portion of all Taxes imposed on the Seller or the Company and the Subsidiaries, or for which the Seller or the Company or any of the sale of Shares acquired pursuant Subsidiaries may otherwise be liable, for any taxable year or period that begins before and ends after the Closing Date (the “Straddle Period”), to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by extent that such Taxes are attributable to the operations of the Company (and the Subsidiaries for the year or period ending on the Participant’s behalf pursuant to this authorization without further consentClosing Date as provided in Section 6.01(d); (iv) withholding from the Shares subject any loss, liability, claim, damage or expense attributable to Restricted Share Unitsany breach of (A) any representation or warranty contained in Section 3.15 (relating to Taxes) and for determination of liability under this clause (iv), matters listed on Schedule 3.15 shall be taken into account in determining whether or not a breach of representation has occurred or (B) any covenant set forth in Section 5.01(j); and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold all liability for Taxes arising (directly or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalentindirectly) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver sale of the Shares or the proceeds other transactions contemplated hereby (including, without limitation, any Taxes arising as a result of the sale recognition by Seller, Company or any of Shares if the Participant fails to comply with his Subsidiaries of any “deferred intercompany gain” or her obligations “excess loss account”); (vi) all liability for Taxes resulting from the Section 338(h)(10) Election (defined below) (or any comparable elections under state or local Tax law) contemplated by Section 6.03; and (vii) all liability for reasonable costs and expenses (including reasonable attorneys’ fees and disbursements) incurred by Purchaser or any of its Affiliates in connection with any action, suit, proceeding, demand, assessment or judgment incident to any of the Tax-Related Itemsmatters indemnified against in this Section 6.01; provided, however, that the Seller shall not be responsible or liable for any Taxes which have been accrued or reserved for on the Closing Date Balance Sheet (excluding any reserve for deferred Taxes established to reflect timing differences between book and Tax income) and have been taken into account in determining the Purchase Price adjustments pursuant to Section 2.03 of this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Bisys Group Inc)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company or, if different, or the Subsidiary that employs the Participant Participant’s employer (the “Employer”), the ultimate liability for ) take with respect to any or all income tax (including U.S. federal, state and local tax or non-U.S. tax), social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by the Company or the Employer to be an appropriate charge to the Participant even if technically due by the Company or the Employer (“Tax-Related Items”) ), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount amount, if any, actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and/or and the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares the Award, including the grant of the Stock Units, including, but not limited tothe vesting of the Stock Units, the grant, vesting or settlement delivery of Restricted Shares UnitsShares, the subsequent sale of any Shares acquired pursuant to the Restricted Share Unit at vesting, and the receipt of any dividends or dividend equivalentsDividend Equivalent Rights; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related to Tax-Related Items arising from this Award. FurthermoreFurther, if the Participant has become is or becomes subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will shall pay or make adequate arrangements satisfactory to the Company and/or or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or or the Employer, or their respective agents, at their discretiondiscretion and pursuant to such procedures as they may specify from time to time, to satisfy their any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items.:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Apple Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934, as amended). The Participant acknowledges that, regardless of any action taken by the Company orwith respect to any or all tax, social insurance and social security liability under Applicable Laws in connection with Participant’s participation in the Plan, this Option, and the related Shares, including, without limitation, (a) all federal, state and local income, employment and any other applicable taxes, (b) Participant’s and, to the extent required by the Company, fringe benefit tax liability, if differentany, of the Subsidiary that employs Company associated with the grant, vesting, or exercise of the Option, or sale of or other disposition with respect to the related Shares, and (c) all other taxes or social insurance or social security liabilities or premium with respect to which Participant has, or has agreed to bear, responsibility (the EmployerTax-Related Items”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the Participant’s responsibility and may exceed the amount actually (if any) withheld by the Company or the EmployerCompany. The Participant further acknowledges that the Company and/or the Employer (ai) make makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Restricted Shares Unitsthe Option, including, but not limited to, the grant, vesting vesting, exercise, assignment, release or settlement cancellation of Restricted Shares Unitsthe Option, the subsequent sale or other disposition of Shares acquired pursuant to the Restricted Share Unit such exercise and the receipt of any dividends or dividend equivalentsdividends; and (bii) do does not commit to and are is under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. The Further, if Participant shall not make any claim against the Company, the Employer or any other Subsidiary, or their respective board, officers or employees related becomes subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior to any the relevant taxable or tax withholding event, as applicable, the Participant will pay or agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the EmployerCompany, or their respective agentsits agent, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (iiA) withholding from the Participant’s wages or other any cash compensation paid to the Participant by the Company and/or the Employer, Company; (iiiB) withholding from the proceeds of the sale or other disposition of Shares acquired pursuant to at exercise of the Restricted Share Units, Option either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); or (ivC) withholding from in Shares to be issued upon exercise of the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable lawOption. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with and will have no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authoritiesequivalent amount in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Shares UnitsExercised Shares, notwithstanding that a number of the Shares is are held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or the Employer any amount of Tax-Related Items that the Company and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or honor the exercise and/or to deliver the Shares or the proceeds of the sale of Shares Shares, if the Participant fails to comply with his or her Participant’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Global Stock Option Award Agreement (Pacific Biosciences of California, Inc.)

Responsibility for Taxes. This provision replaces paragraph 6 of the Award Agreement (except if the Participant is subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934By accepting this Restricted Stock Unit Grant, as amended). The Participant Grantee acknowledges that, regardless of any action taken by the Company or, if different, the Subsidiary any Parent, Subsidiary, or Affiliate that employs the Participant Grantee (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”) Items is and remains the ParticipantGrantee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Participant Grantee further acknowledges that the Company and/or the Employer (ai) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these the Restricted Shares UnitsStock Unit Grant, including, but not limited to, the grant, vesting vesting, or settlement of the Restricted Shares UnitsStock Unit Grant, the subsequent sale of Shares acquired pursuant to the Restricted Share Unit such settlement, and the receipt of any dividends or dividend equivalentsdividends; and (bii) do not commit to and are under no obligation to structure the terms of the Restricted Share Units grant or any aspect of the Restricted Share Units Stock Unit Grant to reduce or eliminate the ParticipantGrantee’s liability for Tax-Related Items or achieve any particular tax result. The Participant shall not make any claim against the CompanyFurther, the Employer or any other Subsidiary, or their respective board, officers or employees related if Grantee is subject to Tax-Related Items arising from this Award. Furthermore, if the Participant has become subject to tax in more than one jurisdiction, the Participant as applicable, Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Prior Xxxxxxx agrees to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: (i) requiring a cash payment from the Participant; (ii) withholding from the Participant’s wages or other cash compensation paid to the Participant by the Company and/or the Employer, (iii) withholding from the proceeds of the sale of Shares acquired pursuant to the Restricted Share Units, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); (iv) withholding from the Shares subject to Restricted Share Units; and/or (v) any other method of withholding determined by the Company and permitted by applicable law. Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the Share equivalent) or, if not refunded, the Participant may seek a refund from the local tax authorities. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Participant is deemed, for tax purposes, to have been issued the full number of Shares subject to the vested Restricted Shares Units, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. Finally, the Participant shall pay to the Company and/or or the Employer any amount of Tax-Related Items that the Company and/or or the Employer may be required to withhold or account for as a result of the ParticipantXxxxxxx’s participation in the Plan acceptance of this Grant that cannot be satisfied by the means previously describeddescribed in this Section. The Company may refuse to issue or deliver the Shares Shares, or the proceeds of the sale of Shares Shares, if the Participant Grantee fails to comply with his or her Xxxxxxx’s obligations in connection with the Tax-Related Items.

Appears in 1 contract

Samples: Restricted Stock Unit Grant Agreement (AVITA Medical, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.