Responsibility for Taxes. The Participant shall be solely responsible for any applicable taxes (including, without limitation, income and excise taxes) and penalties, and any interest that accrues thereon, which he or she incurs in connection with the vesting, or payment of this Award, in accordance with Section 16 of the Plan. However, upon the settlement of any Performance Units in shares of Common Stock, the Company shall have the right to withhold a number of such shares having a Fair Market Value determined to be sufficient to satisfy the minimum federal, state, local and/or non-U.S. withholding tax requirements, if any, attributable to such settlement.
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