Withholding Shares Clause Samples

The Withholding Shares clause allows a company or issuer to retain a portion of shares that would otherwise be delivered to a recipient, typically to cover tax obligations or other required withholdings. In practice, when shares are granted as part of compensation or an equity award, the company may withhold enough shares to satisfy applicable tax withholding requirements, rather than requiring the recipient to pay cash for taxes owed. This clause ensures compliance with tax laws and simplifies the process for both the company and the recipient by automatically handling tax obligations at the time of share issuance.
Withholding Shares. With respect to withholding required upon the lapse of restrictions or upon any other taxable event arising as a result of the PSUs awarded, the Participant may elect, subject to the approval of the Committee, to satisfy the withholding requirement, in whole or in part, by having the Company or any applicable Subsidiary withhold Performance Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax which could be withheld on the transaction. All such elections shall be irrevocable, made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate.
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Withholding Shares. The Company is hereby deducting this date from the remaining number of Exercise Shares as to which the Options are being exercised, after deduction therefrom of the number of Replacement Shares, a number of shares of Common Stock (the “Withholding Shares”) having a Current Market Value equal to the Required Taxes, if any, now required to be paid by the Company to any taxing or other governmental authority, federal, state or local, including any FICA taxes, as a result of the exercise of the Options this date by Executive. The Company will pay, on a timely basis, all such Required Taxes. The number of Withholding Shares is set forth on Exhibit 1 hereto.
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Withholding Shares. In connection with the issuance of the Restricted Stock Award and the Section 83(b) election described above, the Company will be required to pay applicable withholding taxes on your behalf. This will be accomplished through a “net settlement” of your Restricted Stock award, by reducing the number of shares actually issued to you as Restricted Stock by the number of Withholding Shares necessary for the payment of withholding taxes. This withholding rate will be calculated at [ ]% of your total Shares, and the Company will remit the withholding taxes to the applicable taxing authorities. In the event of a termination of employment following the date hereof prior to any applicable vesting date under an Award Agreement with respect to the Withholding Shares under circumstances that would qualify as a “Voluntary Termination” or a “Termination for Cause” under the ChampionX Amended and Restated Senior Executive Change in Control Severance Plan (the “Severance Plan”), the Withholding Shares shall be subject to recovery by the Company. Within thirty (30) days following written notice from the Company, you shall repay to the Company the Fair Market Value of the Withholding Shares at the time of settlement of your Outstanding RSU Awards as provided herein. In the event of a “Termination Without Cause,” or a “Good Reason Termination”, or by reason of death or “Disability” (as defined in the Severance Plan), the Withholding Shares shall not be subject to recovery by the Company.
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Withholding Shares. The Company shall have the right, but not the obligation, to require the Participant to satisfy all or any portion of the Company’s tax withholding obligations by deducting from the shares of Stock otherwise deliverable to the Participant in settlement of the Award a number of whole shares having a fair market value, as determined by the Company as of the date on which the tax withholding obligations arise, not in excess of the amount of such tax withholding obligations determined by the applicable minimum statutory withholding rates.
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Related to Withholding Shares

  • Withholding Rights Each of the Surviving Corporation and Parent shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to this Agreement to any holder of Shares such amounts as it is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld by the Surviving Corporation or Parent, as the case may be, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the holder of the Shares in respect of which such deduction and withholding was made by the Surviving Corporation or Parent, as the case may be.

  • Share Withholding The Committee may permit a Participant to satisfy all or part of his or her withholding or income tax obligations by having the Company withhold all or a portion of any Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Shares that he or she previously acquired. Such Shares shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. In no event may a Participant have Shares withheld that would otherwise be issued to him or her in excess of the number necessary to satisfy the minimum legally required tax withholding.

  • Withholding in Shares The Company shall have the right, but not the obligation, to require the Participant to satisfy all or any portion of a Participating Company’s tax withholding obligations upon exercise of the Option by deducting from the shares of Stock otherwise issuable to the Participant upon such exercise a number of whole shares having a fair market value, as determined by the Company as of the date of exercise, not in excess of the amount of such tax withholding obligations determined by the applicable minimum statutory withholding rates.

  • ▇▇▇ Withholding Notwithstanding any other provision of this Agreement, the Company may withhold from amounts payable under this Agreement all federal, state, local and foreign taxes that are required to be withheld by applicable laws or regulations.

  • Withholding The Company may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.