Common use of Deemed Exercise Rule Clause in Contracts

Deemed Exercise Rule. Employee understands and agrees that if Employee has received Options in relation to his or her employment in Singapore, then if, prior to the exercise of the Option, Employee is 1) a permanent resident of Singapore and leaves Singapore permanently or is transferred out of Singapore; or 2) neither a Singapore citizen nor permanent resident and either ceases employment in Singapore or leaves Singapore for any period exceeding 3 months, Employee will likely be taxed on the Option on a “deemed exercise” basis, even though the Option has not yet been exercised. Employee should refer to the separate Stock Award and Option Guide and discuss his or her tax treatment with his or her personal tax advisor.

Deemed Exercise Rule. Employee understands and agrees that if Employee has received Options Stock Awards in relation to his or her employment in Singapore, then if, prior to the exercise vesting of the OptionStock Awards, Employee is 1) a permanent resident of Singapore and leaves Singapore permanently or is transferred out of Singapore; or 2) neither a Singapore citizen nor permanent resident and either ceases employment in Singapore or leaves Singapore for any period exceeding 3 months, Employee will likely be taxed on the Option Stock Awards on a “deemed exercise” basis, even though the Option has Stock Awards have not yet been exercisedvested. Employee should refer to the separate Stock Award and Option Guide and discuss his or her tax treatment with his or her personal tax advisor.

Deemed Exercise Rule. Employee understands and agrees that if Employee has received Options Performances Share awards in relation to his or her employment in Singapore, then if, prior to the exercise vesting of the Optionawards, Employee is 1) a permanent resident of Singapore and leaves Singapore permanently or is transferred out of Singapore; or 2) neither a Singapore citizen nor permanent resident and either ceases employment in Singapore or leaves Singapore for any period exceeding 3 months, Employee will likely be taxed on the Option Performance Shares on a “deemed exercise” basis, even though the Option has they have not yet been exercisedvested. Employee should refer to the separate Stock Award and Option Guide and discuss his or her tax treatment with his or her personal tax advisor.

Deemed Exercise Rule. Employee understands and agrees that if Employee has received Options Stock Awards in relation to his or her employment in Singapore, then if, prior to the exercise vesting of the OptionStock Awards, Employee is 1) a permanent resident of Singapore and leaves Singapore permanently or is transferred out of Singapore; or 2) neither a Singapore citizen nor permanent resident and either ceases employment in Singapore or leaves Singapore for any period exceeding 3 months, Employee will likely be taxed on the Option Stock Awards on a “deemed exercise” basis, even though the Option has Stock Awards have not yet been exercisedvested. Employee should refer to the separate Stock Award and Option Guide and discuss his or her tax treatment with his or her personal tax advisor.