Common use of Exchange Control Notice Clause in Contracts

Exchange Control Notice. If the Employee holds foreign securities (including Shares) and maintains accounts abroad, the Employee may be required to file certain reports with the National Bank of Poland. Specifically, if the value of securities and cash held in such foreign accounts exceeds PLN 7 million, the Employee must file reports on the transactions and balances of the accounts on a quarterly basis. Further, any fund transfers into or out of Poland in excess of €15,000 must be effected through a bank in Poland. Polish residents are required to store all documents related to foreign exchange transactions for a period of five years.

Exchange Control Notice. If the The Employee holds acknowledges that Polish residents holding foreign securities (including Shares) and maintains maintaining accounts abroadabroad must report information to the National Bank of Poland if the value of such transactions or balances exceeds PLN 7,000,000. If required, the Employee may reports must be required to file certain reports with filed on a quarterly basis on special forms available on the website of the National Bank of Poland. Specifically, if the value of securities and cash held in such foreign accounts exceeds PLN 7 millionFurther, the Employee must file reports on the transactions and balances acknowledges that any transfer of the accounts on a quarterly basis. Further, any fund transfers funds in excess of €15,000 into or out of Poland in excess of €15,000 must be effected through a bank account in Poland. Polish residents are The Employee understands that he or she is required to store all documents related to connected with any foreign exchange transactions the Employee engages in for a period of five years.

Exchange Control Notice. If the Employee holds foreign securities (including Shares) and maintains accounts abroad, the Employee may be required to file certain reports with the National Bank of Poland. Specifically, if the value of securities and cash (when combined with all other assets held abroad) held in such foreign accounts exceeds PLN 7 million, the Employee must file reports on the transactions and balances of the accounts on a quarterly basis. Further, any fund transfers into or out of Poland in excess of €15,000 must be effected through a bank in Poland. Polish residents are required to store all documents related to foreign exchange transactions for a period of five years.