Common use of Exchange Control Requirements Clause in Contracts

Exchange Control Requirements. You understand and agree that, pursuant to Russian exchange control requirements, you will be required to repatriate to Russia the cash proceeds from the sale of the Shares issued to you upon settlement of the Units and from the receipt of any dividends paid on such Shares or Dividend Equivalents. You further understand that, under applicable laws, such proceeds must be initially credited to you through a foreign currency account opened in your name at an authorized bank in Russia. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion depending on developments in Russian exchange control laws and regulations, to force the immediate sale of any Shares to be issued upon vesting of the Units. You further agree that, if applicable, the Company is authorized to instruct Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to complete the sale of such Shares. You further acknowledge that Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax Obligations.

Exchange Control Requirements. You understand and agree that, pursuant to Russian exchange control requirements, you will be required to repatriate to Russia the cash proceeds from the sale of the Shares issued to you upon settlement of the Performance Units and from the receipt of any dividends paid on such Shares shares or Dividend Equivalents. You further understand that, under applicable laws, such proceeds must be initially credited to you through a foreign currency account opened in your name at an authorized bank in Russia. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion discretion, depending on developments in Russian exchange control laws and regulations, to force the immediate sale of any Shares to be issued upon vesting of the UnitsAward granted hereunder. You further agree that, if applicable, the Company is authorized to instruct Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to complete the sale of such Sharesshares. You further acknowledge that Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Sharessuch shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax Obligations.

Exchange Control Requirements. You understand and agree that, pursuant to Russian exchange control requirements, you will be required to repatriate to Russia the cash proceeds from the sale of the Shares issued to you upon settlement of the Units RSUs and from the receipt of any dividends Dividend Equivalents paid on such Shares or Shares, unless such proceeds will be paid into and held in your brokerage account in the U.S., for example, for reinvestment purposes. As an express statutory exception to this requirement, cash dividends (but not Dividend Equivalents. You further understand that, under applicable laws, such proceeds must ) paid on Shares can be initially credited to you through paid directly into a foreign currency bank or brokerage account opened with a foreign bank located in your name at an authorized Organisation for Economic Co-operation and Development (“OECD”) or Financial Action Task Force (“FATF”) countries, without first remitting them to a bank account in Russia. Other statutory exceptions may apply, and you should consult with your personal legal advisor in this regard. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion depending on developments in Russian exchange control laws and regulations, to force the immediate sale of any Shares to be issued upon vesting of the UnitsRSUs. You further agree that, if applicable, the Company is authorized to instruct Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) to complete the sale of such Shares. You further acknowledge that Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax ObligationsTax-Related Items.

Exchange Control Requirements. You understand and agree that, pursuant to Russian exchange control requirements, you will be required to repatriate to Russia the cash proceeds from the sale of the Shares issued to you upon settlement of the Performance Units and from the receipt of any dividends paid on such Shares shares or Dividend Equivalents. You further understand that, under applicable laws, such proceeds must be initially credited to you through a foreign currency account opened in your name at an authorized bank in Russia. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion discretion, depending on developments in Russian exchange control laws and regulations, to force the immediate sale of any Shares to be issued upon vesting of the UnitsAward granted hereunder. You further agree that, if applicable, the Company is authorized to instruct Xxxxxxx Xxxxx Bank & Trust Co., FSB (or Appendix - 16 such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to complete the sale of such Sharesshares. You further acknowledge that Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Sharessuch shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax Obligations.

Exchange Control Requirements. You understand and agree that, pursuant to Russian exchange control requirements, you will be required to repatriate to Russia the cash proceeds from the sale of the Shares issued to you upon settlement exercise of the Units Option, unless such proceeds will be paid into and from held in your brokerage account in the receipt of any U.S., for example, for reinvestment purposes. As an express statutory exception to this requirement, cash dividends (but not dividend equivalents) paid on such Shares or Dividend Equivalents. You further understand that, under applicable laws, such proceeds must can be initially credited to you through paid directly into a foreign currency bank or brokerage account opened with a foreign bank located in your name at an authorized Organisation for Economic Co-operation and Development (“OECD”) or Financial Action Task Force (“FATF”) countries, without first remitting them to a bank account in Russia. Other statutory exceptions may apply, and you should consult with your personal legal advisor in this regard. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion depending on developments in Russian exchange control laws and regulations, to force require you to exercise the immediate sale of any Shares to be issued upon vesting of the UnitsOptions via a cashless exercise. You further agree that, if applicable, the Company is authorized to instruct Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) to complete the sale of such Shares. You further acknowledge that Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax ObligationsTax-Related Items.

Exchange Control Requirements. As the Shares are listed on a specified foreign stock exchange determined according to the Russian law “On the Securities Market,” Russian residents may receive certain funds (e.g., cash Dividends and sale proceeds but not Dividend Equivalents) directly into a foreign bank account held in an Organization for Economic Cooperation and Development (“OECD”) country (such as the U.S.) or a Financial Action Task Force (“FATF”) country without first repatriating such cash proceeds (as was previously required). You understand and agree that, pursuant to Russian exchange control requirements, you will may still be required to repatriate to Russia the certain cash proceeds from the sale of the Shares issued to you upon settlement of the Units and from the receipt of any dividends (e.g., Dividend Equivalents) paid on Shares, unless such Shares proceeds will be paid into and held in your brokerage account in the U.S., for example, for reinvestment purposes, or Dividend Equivalentsa different statutory exception applies. You further understand that, under applicable laws, such proceeds must be initially credited to you through a foreign currency account opened should consult with your personal legal advisor in your name at an authorized bank in Russiathis regard. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion depending on developments in Russian exchange control laws and regulations, to force the immediate sale of any Shares to be issued upon vesting of the Units. You further agree that, if applicable, the Company is authorized to instruct Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) to complete the sale of such Shares. You further acknowledge that Xxxxxxx Xxxxx Bank & Trust Co., FSB (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax Obligations.

Exchange Control Requirements. You understand and agree that, pursuant to Russian exchange control requirements, you will be required to repatriate to Russia the cash proceeds from the sale of the Shares issued to you upon settlement of the Performance Units and from the receipt of any dividends Dividend Equivalents paid on such Shares or Shares, unless such proceeds will be paid into and held in your brokerage account in the U.S., for example, for reinvestment purposes. As an express statutory exception to this requirement, cash dividends (but not Dividend Equivalents. You further understand that, under applicable laws, such proceeds must ) paid on Shares can be initially credited to you through paid directly into a foreign currency bank or brokerage account opened with a foreign bank located in your name at an authorized Organisation for Economic Co-operation and Development (“OECD”) or Financial Action Task Force (“FATF”) countries, without first remitting them to a bank account in Russia. Other statutory exceptions may apply, and you should consult with your personal legal advisor in this regard. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in Russia. Without limiting the generality of the foregoing, you acknowledge that the Company reserves the right, in its sole discretion depending on developments in Russian exchange control laws and regulations, to force the immediate sale of any Shares to be issued upon vesting of the Performance Units. You further agree that, if applicable, the Company is authorized to instruct Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) to complete the sale of such Shares. You further acknowledge that Xxxxxx Xxxxxxx Xxxxx Bank & Trust Co., FSB Xxxxxx LLC (or such other broker as may be designated by the Company) is under no obligation to arrange for the sale of the Shares at any particular trading price. Upon the sale of Shares, you will receive the cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to your obligations in connection with the Tax ObligationsTax-Related Items.