Common use of Exchange Control Requirements Clause in Contracts

Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee understands and agrees that Awardee will be required to immediately repatriate the cash proceeds from the sale of the shares of Stock or the receipt of any dividends to the PRC. Awardee understands and agrees that such cash proceeds will need to be repatriated to the PRC through a special exchange control account established by the Company or one of its Affiliates in the PRC, and Awardee hereby consents and agrees that any proceeds from the sale of shares of Stock or the receipt of any dividends may be transferred to such special account prior to being delivered to him or her. The proceeds may be paid to Awardee in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee in U.S. dollars, Awardee understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee in local currency, Awardee agrees to bear any currency fluctuation risk between the time the shares of Stock are sold or dividends are paid and the time the proceeds are distributed to Awardee through any such special account. Awardee further agrees 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 China.

Appears in 2 contracts

Samples: Global Restricted Stock Unit Agreement (Citrix Systems Inc), Global Restricted Stock Unit Agreement (Citrix Systems Inc)

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Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee The Employee understands and agrees that Awardee that, if he or she is subject to local exchange control requirements, the Employee will be required to immediately repatriate the cash proceeds from the immediate sale of the shares of Common Stock or issued upon the receipt vesting of any dividends the Award to China. The Employee further understands that, under local law, such repatriation of the PRC. Awardee understands and agrees that such Employee’s cash proceeds will may need to be repatriated to the PRC effected through a special exchange control account established by the Company or one of its Affiliates in the PRCan Affiliate, and Awardee the Employee hereby consents and agrees that any proceeds from the sale of any shares of Common Stock or the receipt of any dividends Employee acquires may be transferred to such special account prior to being delivered to him or herthe Employee. The proceeds may be paid to Awardee the Employee in U.S. dollars or local currency at the Company’s discretion. In the event If the proceeds are paid to Awardee the Employee in U.S. dollars, Awardee the Employee understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee the Employee in local currency, Awardee the Employee acknowledges that the Company is under no obligation to secure any particular exchange conversion rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions. The Employee agrees to bear any currency fluctuation risk between the time the shares of Common Stock are sold or dividends are paid and the time the proceeds are distributed to Awardee through any such special accountthe Employee. Awardee The Employee further agrees 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 China.

Appears in 2 contracts

Samples: Global Restricted Stock Unit (Sapient Corp), Restricted Stock Unit Agreement (Sapient Corp)

Exchange Control Requirements. Due to exchange control laws in the PRCBy accepting this Award of Restricted Stock Units, Awardee Participant understands and agrees that Awardee that, pursuant to local exchange control requirements, Participant will be required to immediately repatriate the cash proceeds from the immediate sale of the shares Shares to China. Participant further understands that, under local law, such repatriation of Stock or the receipt of any dividends to the PRC. Awardee understands and agrees that such cash proceeds will may need to be repatriated to the PRC effectuated through a special exchange control account established by the Company or one of and/or its Affiliates in the PRCChinese Subsidiary, and Awardee Participant hereby consents and agrees that any proceeds from the sale of shares of Stock or the receipt of any dividends Shares Participant acquires may be transferred to such special account prior to being delivered to him or herParticipant. The proceeds may be paid to Awardee in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee in U.S. dollars, Awardee understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee in local currency, Awardee agrees to bear any currency fluctuation risk between the time the shares of Stock are sold or dividends are paid and the time the proceeds are distributed to Awardee through any such special account. Awardee Participant further agrees 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 China. The proceeds may be paid to Participant in U.S. dollars or in local currency, at the Company’s discretion. If the proceeds are paid in U.S. dollars, Participant understands and agrees that he or she will be required to set up a U.S. dollar bank account in China (if Participant does not already have one) so that the proceeds may be deposited into this account. If the proceeds are paid in local currency, Participant further understands and agrees that the Company or its Chinese Subsidiary is under no obligation to secure any particular exchange conversion rate and there may be delays in converting the cash proceeds to local currency due to exchange control restrictions. Participant agrees to bear any currency fluctuation risk between the time the cash proceeds are received and the time the cash proceeds are distributed to Participant through the special account described above. Participant further agrees to comply with any other requirements that may be imposed by the Company in the future to facilitate compliance with China exchange control requirements.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Rimini Street, Inc.), Restricted Stock Unit Agreement (Rimini Street, Inc.)

Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee understands and agrees that Awardee will be required to immediately repatriate the cash proceeds from the sale of the shares of Stock or the receipt of any dividends to the PRC. Awardee understands and agrees that such cash proceeds will need to be repatriated to the PRC through a special exchange control account established by the Company or one of its Affiliates in the PRCChina, and Awardee hereby consents and agrees that any proceeds from the sale of shares of Stock or the receipt of any dividends may be transferred to such special account prior to being delivered to him or her. The proceeds may be paid to Awardee in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee in U.S. dollars, Awardee understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee in local currency, Awardee agrees to bear any currency fluctuation risk between the time the shares of Stock are sold or dividends are paid and the time the proceeds are distributed to Awardee through any such special account. Awardee further agrees 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 China. COSTA RICA There are no country-specific provisions.

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement (Citrix Systems Inc)

Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee understands and agrees that Awardee will be required to immediately repatriate the cash proceeds from the sale of the shares of Stock or the receipt of any dividends to the PRC. Awardee understands and agrees that such cash proceeds will need to be repatriated to the PRC through a special exchange control account established by the Company or one of its Affiliates in the PRCChina, and Awardee hereby consents and agrees that any proceeds from the sale of shares of Stock or the receipt of any dividends may be transferred to such special account prior to being delivered to him or her. The proceeds may be paid to Awardee in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee in U.S. dollars, Awardee understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee in local currency, Awardee agrees to bear any currency fluctuation risk between the time the shares of Stock are sold or dividends are paid and the time the proceeds are distributed to Awardee through any such special account. Awardee further agrees 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 China.. DENMARK

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement

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Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee The Optionee understands and agrees that Awardee that, pursuant to local exchange control requirements, the Optionee will be required to immediately repatriate the cash proceeds from the sale cashless exercise of the shares Option to China. The Optionee further understands that, under local law, such repatriation of Stock his or the receipt of any dividends to the PRC. Awardee understands and agrees that such her cash proceeds will may need to be repatriated to the PRC effectuated through a special exchange control account established by the Company Company, subsidiary, affiliate or one of its Affiliates in the PRCEmployer, and Awardee the Optionee hereby consents and agrees that any proceeds from the sale of shares of Stock or the receipt of any dividends may be transferred to such special account prior to being delivered to him or herthe Optionee. The proceeds may be paid to Awardee the Optionee in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee the Optionee in U.S. dollars, Awardee the Optionee understands that he or she the Optionee will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer and/or the Company so that the proceeds may be deposited into this account. If The Company is under no obligation to secure any particular exchange conversion rate and/or conversion date and the Company may face delays in converting the proceeds are paid to Awardee in local currency, Awardee currency due to exchange control restrictions. The Optionee agrees to bear any currency fluctuation risk between the time the shares of Stock are sold or dividends are paid received and the time the proceeds are distributed to Awardee through any such special exchange account. Awardee The Optionee further agrees 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 China.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Nike Inc)

Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee the Optionee understands and agrees that Awardee the Optionee will be required to immediately repatriate the cash proceeds from the sale cashless sell-all exercise of the shares of Stock or the receipt of any dividends Option to the PRC. Awardee The Optionee further understands and agrees that such cash any proceeds from the cashless sell-all exercise of the Option will need to be repatriated to the PRC through a special exchange control account established by the Company or one of its Affiliates in the PRC, and Awardee the Optionee hereby consents and agrees that any proceeds from the sale cashless sell-all exercise of shares of Stock or the receipt of any dividends Option may be transferred to such special account prior to being delivered to him or herthe Optionee. The proceeds may be paid to Awardee the Optionee in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee the Optionee in U.S. dollars, Awardee the Optionee understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer Service Recipient and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee the Optionee in local currency, Awardee the Optionee agrees to bear any currency fluctuation risk between the time the shares of Stock Option Shares are sold or dividends are paid and the time the proceeds are distributed to Awardee the Optionee through any such special account. Awardee The Optionee further agrees 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 China.

Appears in 1 contract

Samples: Substitute Global Stock Option Agreement (SunEdison Semiconductor LTD)

Exchange Control Requirements. Due to exchange control laws in the PRC, Awardee the Participant understands and agrees that Awardee the Participant will be required to immediately repatriate the cash proceeds from the sale of the shares of Stock Shares or the receipt of any dividends to the PRC. Awardee The Participant understands and agrees that such cash proceeds will need to be repatriated to the PRC through a special exchange control account established by the Company or one of its Affiliates in the PRCAffiliates, and Awardee the Participant hereby consents and agrees that any proceeds from the sale of shares of Stock Shares or the receipt of any dividends may be transferred to such special account prior to being delivered to him or her. The proceeds may be paid to Awardee the Participant in U.S. dollars or local currency at the Company’s discretion. In the event the proceeds are paid to Awardee the Participant in U.S. dollars, Awardee the Participant understands that he or she will be required to set up a U.S. dollar bank account in China and provide the bank account details to the Employer Service Recipient and/or the Company so that the proceeds may be deposited into this account. If the proceeds are paid to Awardee the Participant in local currency, Awardee the Participant agrees to bear any currency fluctuation risk between the time the shares of Stock Shares are sold or dividends are paid and the time the proceeds are distributed to Awardee the Participant through any such special account. Awardee The Participant further agrees 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 China.. FRANCE

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (SunEdison Semiconductor LTD)

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