eTrade 2000 Annual Report Download - page 240

same manner the corresponding book items are allocated pursuant to this Agreement.
(b)In accordance with Code Section704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect to
any asset contributed to the capital of the Company shall, solely for tax purposes, be allocated between the Members so as to take
account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial
Book Value.
(c)In the event the Book Value of any Company asset is adjusted pursuant to the terms of this Agreement, subsequent allocations of
income, gain, loss and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset
for federal income tax purposes and its Book Value in the same manner as under Code Section704(c) and the Treasury Regulations
thereunder.
14.3. Withholding. The Company shall at all times be entitled to make payments with respect to any Member in amounts required to
discharge any obligation of the Company to withhold or make payments to any governmental authority with respect to any federal,
state, local or other jurisdictional tax liability of such Member arising as a result of such Member’ s interest in the Company. Any such
withholding payment shall be charged to the Member’ s Capital Account.
[The remainder of this page is intentionally left blank.]
15
IN WITNESS WHEREOF, the Members have executed this Agreement as of the date first above written.
MANAGING MEMBERS
/s/Christos M. Cotsakos
Christos M. Cotsakos
/s/Thomas A. Bevilacqua
Thomas A. Bevilacqua
NON-MANAGING MEMBER
E*Trade Group, Inc.
By: /s/Leonard C. Purkis
Title: Leonard C. Purkis
Chief Financial Officer
2002. EDGAR Online, Inc.