If, at any time, the Company is required under applicable laws or regulations to withhold, or to make any deduction for, any taxes or take any other action in connection with the exercise of any option hereunder or the vesting or delivery of Common Stock in respect of a Restricted Stock Unit, the Company shall have the right to deduct from all amounts payable in cash any taxes required by law to be withheld therefrom, and, in the case of payments in the form of Common Stock, the Outside Director to whom such payments are to be made shall be required to pay to the Company the amount of any taxes required to be withheld, or, in lieu thereof, the Company shall have the right to retain, or sell without notice, a sufficient number of shares of Common Stock to cover the minimum amount required to be withheld.
If, at any time, the Company is required under applicable laws or regulations to withhold, or to make any deduction for, any taxes or take any other action in connection with the exercise of any option hereunder or the vesting or delivery of Common Stock in respect of a Restricted Stock Unit, theWithholding. The Company shall have the right to deduct from all amounts payable in cashpayments of any kind otherwise due to the optionee or recipient of Restricted Stock, any federal, state or local taxes of any kind required by law to be withheld therefrom, and, inwith respect to issuance of any shares of Restricted Stock or shares issued upon exercise of Options. Prior to delivery of any Common Stock pursuant to the caseterms of payments inthis Plan, the formBoard has the right to require that the optionee or recipient of Common Stock, the Outside Director to whom such payments are to be made shall be required to payRestricted Stock remit to the Company an amount sufficient to satisfy any minimum tax withholding obligation. Subject to the amountprior approval of any taxes required tothe Company, which may be withheld, or, in lieu thereof,withheld by the Company shall havein its sole discretion, the rightobligor may elect to retain,satisfy any minimum withholding obligations, in whole or sell without notice,in part, # by causing the Company to withhold shares of Common Stock otherwise issuable, or # by delivering to the Company a sufficient number of shares of Common StockStock. The shares so withheld shall have a fair market value equal to coversuch minimum withholding obligation. The fair market value of the shares used to satisfy such minimum withholding obligation shall be determined by the Company as of the date that the amount requiredof tax to be withheld.withheld is to be determined. A person who has made an election pursuant to this Section 19 may only satisfy his or her withholding obligation with shares of Common Stock which are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar restrictions.
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