Withholding Right. The Committee may, in its discretion, grant to an Optionee the right (a "Withholding Right") to elect to make such payment by irrevocably requiring the Company to withhold from shares issuable upon exercise of the Stock Options that number of full shares of Stock having a Fair Market Value on the Tax Date (as defined below) equal to the amount (or portion of the amount) required to be withheld. The Withholding Right may be granted with respect to all or any portion of the Stock Options.
Appears in 7 contracts
Sources: Option Agreement (Approved Financial Corp), Option Agreement (Approved Financial Corp), Option Agreement (Approved Financial Corp)
Withholding Right. The Compensation Committee may, in its discretion, grant to an Optionee Grantee the right (a "“Withholding Right"”) to elect to make such payment by irrevocably requiring the Company to withhold from shares issuable upon exercise of the Stock Options an Option that number of full shares of Common Stock having a an aggregate Fair Market Value on the Tax Date (as defined below) equal to the amount (or portion of the amount) required to be withheld. The Withholding Right may be granted with respect to all or any portion of the Stock Options.
Appears in 2 contracts
Sources: Stock Option and Restricted Stock Agreement (Document Sciences Corp), Stock Option and Restricted Stock Agreement (Document Sciences Corp)