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This excerpt taken from the SIRI DEF 14A filed Apr 30, 2009. Withholding
Taxes
A participant may be required to pay to us, and we will have the
right and are authorized to withhold from any award, from any
payment due or transfer made under any award or under the Plan
or from any
Table of Contents
compensation or other amount owing to a participant the amount
(in cash, shares, other securities, other awards or other
property) of any applicable withholding taxes in respect of an
award, its exercise, or any payment or transfer under an award
or under the Plan and to take such other action as may be
necessary in our opinion to satisfy all obligations for the
payment of such taxes. A participant may satisfy, in whole or in
part, the withholding liability by delivery of shares owned by
the participant (which are not subject to any pledge or other
security interest and which have been owned by the participant
for at least six months) with a fair market value equal to such
withholding liability or by having us withhold from the number
of shares otherwise issuable upon the occurrence of a vesting
event a number of shares with a fair market value equal to such
withholding liability.
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