Exchange Control Reporting Notification Sample Clauses

Exchange Control Reporting Notification. If the Participant sells the Shares acquired at settlement of the MSUs and/or receives cash dividends on the Shares, the Participant may be obligated to file a report with a Korean foreign exchange bank, provided the proceeds are in excess of a threshold amount (currently USD 5,000) (per transaction) and deposited into a non-Korean bank account. A report may not be required if proceeds are deposited into a non-Korean brokerage account. As it is the Participant's responsibility to comply with any applicable exchange control reporting obligations in Korea, the Participant should consult with a personal legal advisor to determine the Participant's obligations. There are no country-specific provisions. Labor Law Acknowledgement. The following provision supplements Section 8 of the Award Agreement: By accepting the MSUs, the Participant acknowledges that he or she understands and agrees that: (i) the MSUs are not related to the salary and other contractual benefits granted to the Participant by the Employer; and (ii) any modification of the Plan or its termination shall not constitute a change or impairment of the terms and conditions of employment.

Exchange Control Reporting Notification. If the Participant sells the Shares acquired at settlement of the PSUs and/or receives cash dividends on the Shares, the Participant may be obligated to file a report with a Korean foreign exchange bank, provided the proceeds are in excess of a threshold amount (currently USD 5,000) (per transaction) and deposited into a non-Korean bank account. A report may not be required if proceeds are deposited into a non-Korean brokerage account. As it is the Participant's responsibility to comply with any applicable exchange control reporting obligations in Korea, the Participant should consult with a personal legal advisor to determine the Participant's obligations. There are no country-specific provisions. Labor Law Acknowledgement. The following provision supplements Section 8 of the Award Agreement: By accepting the PSUs, the Participant acknowledges that he or she understands and agrees that: (i) the PSUs are not related to the salary and other contractual benefits granted to the Participant by the Employer; and (ii) any modification of the Plan or its termination shall not constitute a change or impairment of the terms and conditions of employment.