Combined Tax Rate

Combined Tax Rate. The sum of (a) the Federal Rate, (b) the State Rate, (c) the OASDI Rate, and (d) the HI Rate; provided, however, that the OASDI Rate and/or the HI Rate (as applicable) shall not be included in the Combined Tax Rate to the extent, on the Payment Date, the Bank is not required to withhold FICA taxes based on one or both of such rates; and provided further, that the Committee may from time to time in its discretion revise the definition of Combined Tax Rate to reflect changes in the tax laws... (other than changes in one or more of the Federal Rate, State Rate, OASDI Rate or HI Rate) applicable to the payment of Benefits hereunder, insofar as such changes would affect the personal tax obligations of the Eligible Officer receiving the Benefit View More