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HBI » Topics » 2.11 Tax Withholding

This excerpt taken from the HBI 8-K filed Sep 5, 2006.

2.11 Tax Withholding

Each premium payment paid by the Company shall be treated as a bonus payment to the Participant and will be taxable to the Participant in the year in which such premium payment is made. The Company shall withhold from the Participant’s compensation all federal, state and local income, employment and other taxes required to be withheld by the Company in connection with the premium payments, in amounts and in a manner to be determined in the sole discretion of the Company.

 

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