NEVER claim exempt since the penalties for getting it wrong are painful ... instead adjust your allowances ... if you want less withholding increase the number on the W-4 line 5. If you are a dependent and will make less than $12K for the year enter a 2 on line 5 otherwise you will enter either a zero or one depending on what your annual income will be including this job.
Try these tools:
http://www.irs.gov/Individuals/IRS-Withholding-Calculator
https://turbotax.intuit.com/tax-tools
http://turbotax.intuit.com/tax-tools/calculators/taxcaster