Payroll Deductions. An Eligible Employee may elect to participate in an Offering under the Plan by way of regular payroll deductions made on each Payday during the Offering Period, and/or by way of one or more lump sum payroll deductions with respect to annual bonus or commission payments made on one or more Paydays during the Offering Period. The Committee may permit Eligible Employees to make separate elections with respect to the Eligible Employee’s annual bonus Compensation and the Eligible Employee’s other Compensation. A Participant’s election will be set forth in the enrollment documents for the Offering Period. A Participant’s payroll deductions will begin on the first Payday following the Offering Date and will end on the last Payday on or before the Purchase Date of the Purchase Period, unless the Participant elects to withdraw from the Plan as provided in [Article VIII] or ceases Contributions during the Offering Period. All payroll deductions shall be credited to a Participant’s Account.
Payroll Deductions. The Company and its Participating Subsidiaries will maintain payroll deduction accounts for their respective employees who are Participants and who have filed an Authorization. Payments made by Participants, whether by payroll deduction or lump sum payment, shall be credited to the Participant's Stock Purchase Account (the "Purchase Account"). No amounts other than payroll deductions and lump sum payments authorized under this Plan may be credited to a Participant's Purchase Account. A Participant may authorize a payroll deduction in any amount not less than per week, bi-weekly or per month. The amount may not be more than ten percent (10%) of the Participant's gross earnings payable as wages, salary, and bonus compensation, before withholding or other deductions ("Gross Earnings") for the immediately preceding Option Period.
CHANGES IN PAYROLL DEDUCTION. Payroll deductions shall be made for each Participant in accordance with the Participant's Authorization and shall continue until the Participant's participation terminates, the Authorization is revised, or the Plan terminates. A Participant may, as of the beginning of any Option Period, increase or decrease the Participant's payroll deduction, within the limits specified in [Section 7], by filing a new Authorization at least ten (10) days prior to the beginning of that Option Period.
Deductions. The Company will maintain payroll deduction accounts for all participating employees. With respect to any Offering made under this Plan, an employee may authorize a payroll deduction in any percentage amount (in whole percentages) up to a maximum of 15% of the Compensation he or she receives during the Plan Purchase Period or such shorter period during which deductions from payroll are made. The Board or the Committee may, at its discretion, designate a lower maximum contribution rate. The minimum payroll deduction is such percentage of Compensation as may be established from time to time by the Board or the Committee.
Deductions. The Company shall deduct from the payment of each award any withholdings required by law; and the Company may deduct any amounts due from the recipient to the Company or a Subsidiary.
Payroll Practices. All payments, benefits or other compensation under this paragraph 4 shall be paid in accordance with normal payroll practices as in effect on the Termination Date, except as provided in subparagraph # hereof, and subject to required payroll withholdings over the course of the period provided for within the applicable subsection above.
Payroll Taxes. The Administrator may direct the Employer to pay the Federal Insurance Contributions Act (“FICA”) tax imposed under Code Section 3101, [Section 3121(a)], and [Section 3121(v)(2)] on the amount otherwise to be credited as a Matching Restoration Credit and vested Employer Retirement Restoration Credit for a Participant for a Plan Year or upon the amount vested in the Employer Retirement Restoration Account. Additionally, the Administrator may direct the Employer to pay from such amount otherwise credited the income tax at source on wages imposed under [section 3401] or the corresponding withholding provisions of applicable state, local, or foreign tax laws as a result of the payment of the FICA amount, and to pay the additional income tax at source on wages attributable to the pyramiding [section 3401] wages and taxes. However, the total payment under this [Section 4.05] must not exceed the aggregate of the FICA amount, and the income tax withholding related to such FICA amount.
Withholding; Deductions. Anything to the contrary notwithstanding, all payments required to be made by Company hereunder to Executive, his estate or beneficiaries, shall be subject to withholding of such amounts relating to all federal, state, local and other taxes as Company may reasonably determine it should withhold pursuant to any applicable law or regulation and any deductions consented to in writing by Executive. In lieu of withholding such amounts in whole or in part, Company may, in its sole discretion, accept other provisions for payment of taxes as required by law, provided Company is satisfied that all requirements of law affecting its responsibilities to withhold such taxes have been satisfied.
•The Company will set up payroll deductions to start the next available payroll period.
All payments and benefits under this [Section 2] are subject to legally required federal, state and local payroll deductions and withholdings.
Your initial base salary will be paid at the rate of per year, less payroll deductions and withholdings, paid on the Company’s normal payroll schedule.
Changes to Contributions. Unless otherwise determined by the Committee, a Participant may not increase the dollar amount or percentage of Compensation contributed by way of payroll deductions after commencement of an Offering Period. A Participant may decrease his or her payroll deductions or lump sum Contributions once during each Purchase Period by delivery of a new payroll deduction form to the Committee. The change will become effective as soon as administratively practicable after receipt. A Participant may cease Contributions to the Plan at any time. Unless the Participant makes a Withdrawal Election as provided in [Article VIII], upon a cessation of Contributions to the Plan during an Offering Period, the funds in the Participant’s Account will not be refunded to the Participant but instead will be used to purchase Shares for the Participant on the Purchase Date.
ARTICLE # – ACCOUNTING, INVESTMENT AND VALUATION.. 10
Compensation pursuant to this section shall in all cases be less applicable payroll taxes and other deductions.
Any payments which the Company shall make to Employee pursuant to this Agreement shall be reduced by standard withholding and other applicable payroll deductions, including, without limitation, federal, state or local income or other taxes, social security and medicare taxes, state unemployment insurance deductions, state disability insurance deductions, and any other applicable tax or deduction (collectively, any withheld taxes and deductions, “Deductions”).
“Contributions” shall mean all payroll deduction amounts, including any amounts deducted from bonus or commission payments, that are credited to a Participant’s Account. Contributions to the Plan may only be made through deductions to payroll.
Deductions and Withholdings. In the event of the termination of your employment for any reason, the Company reserves the right, to the extent permitted by law and in addition to any other remedy the Company may have, to deduct from any monies that are otherwise payable to you, and that do not constitute deferred compensation within the meaning of Section 409A of the Code, the regulations promulgated thereunder or any related guidance issued by the U.S. Treasury Department (“[Section 409A]”) all monies and the replacement value of any property you may owe to the Company at the time of or subsequent to the termination of your employment with the Company. The Company shall not make any such deduction from any amount that constitutes deferred compensation for purposes of [Section 409A]. To the extent any law requires an employee’s consent to the offset provided in this paragraph and permits such consent to be obtained in advance, this Agreement shall be deemed to provide the required consent. Except as otherwise expressly provided in this Agreement or in any Company benefit plan, all amounts payable under this Agreement shall be paid in accordance with the Company’s ordinary payroll practices less deductions and income and payroll tax withholding as may be required under applicable law. Any property (including shares of Class B Common Stock), benefits and perquisites provided to you under this Agreement, including, without limitation, COBRA payments made on your behalf, shall be taxable to you as provided by law.
See the additional terms on page 2 for details. The incentive bonus is paid with normal payroll processing, less applicable taxes and other withholdings (e.g. 401(k) deductions). The bonus payout is not eligible for deferral into the Supplemental Executive Retirement Plan (SERP). If Polaris changes my position but I remain employed by Polaris, I remain eligible for a payout to the extent the performance metrics have been achieved.
All payments and benefits under this [Section 2] are subject to legally required federal, state and local payroll deductions and withholdings.
No deductions shall be made for commissions to any person on Zai Labs or any of its Affiliate, licensee or sublicensees payroll or for the cost of collection.
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