Common use of Exchange Control Restrictions Clause in Contracts

Exchange Control Restrictions. The Grantee understands and agrees that, if the Grantee is subject to exchange control laws in China, the Grantee will be required immediately to repatriate to China the proceeds from the sale of any Shares acquired under the Plan. The Grantee further understands that such repatriation of proceeds may need to be effected through a special bank account established by the Company in China, and he or she hereby consents and agrees that proceeds from the sale of Shares acquired under the Plan may be transferred to such account by the Company on his or her behalf prior to being delivered to the Grantee and that no interest shall be paid with respect to funds held in such account. The proceeds may be paid to the Grantee in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Grantee understands that a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the proceeds are paid in local currency, the Grantee 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 Grantee agrees to bear any currency fluctuation risk between the time the Shares are sold and the net proceeds are converted into local currency and distributed to the Grantee. The Grantee 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 26 contracts

Samples: Restricted Stock Unit Award Agreement (Jabil Inc), Restricted Stock Unit Award Agreement (Jabil Inc), Restricted Stock Unit Award Agreement (Jabil Inc)

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Exchange Control Restrictions. The Grantee Participant understands and agrees that, if that the Grantee is subject to exchange control laws in China, the Grantee Participant will be required to immediately to repatriate to China the proceeds from the sale of any Shares acquired under the PlanPlan and any cash dividends paid on such Shares. The Grantee Participant further understands that such repatriation of proceeds may need to be effected through a special bank account established by the Company in China(or a Subsidiary), and he or she the Participant hereby consents and agrees that any sale proceeds from the sale of Shares acquired under the Plan and cash dividends may be transferred to such special account by the Company (or a Subsidiary) on his or her the Participant’s behalf prior to being delivered to the Grantee Participant and that no interest shall be paid with respect to funds held in such account. The proceeds may be paid to the Grantee Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Grantee Participant understands that a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the proceeds are paid to the Participant in local currency, the Grantee Participant acknowledges that the Company is (or its Subsidiaries) are under no obligation to secure any particular exchange conversion rate and that the Company (or its Subsidiaries) may face delays in converting the proceeds to local currency due to exchange control restrictions. The Grantee Participant agrees to bear any currency fluctuation risk between the time the Shares are sold and the net proceeds are converted into local currency and distributed to the GranteeParticipant. The Grantee 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.

Appears in 5 contracts

Samples: Award Agreement, Stock Incentive Plan Special Retention Award Agreement (Howmet Aerospace Inc.), Restricted Share Unit Award Agreement (Howmet Aerospace Inc.)

Exchange Control Restrictions. The Grantee Employee understands and agrees that, if the Grantee Employee is subject to exchange control laws in China, the Grantee Employee will be required immediately to repatriate immediately to China the proceeds from the sale of any Shares shares of Common Stock acquired under the Plan. The Grantee Employee further understands that such repatriation of sale proceeds may need to must be effected through a special bank account established by the Company with a financial institution in China, China and he or she the Employee hereby consents and agrees that proceeds from the sale of Shares shares of Common Stock acquired under the Plan may be transferred to such account by the Company on his or her the Employee’s behalf prior to being delivered to the Grantee Employee and that no interest shall be paid with respect to funds held in such account. The Sale proceeds may be paid to the Grantee Employee in U.S. dollars or local currency at the Company’s discretion. If the sale proceeds are paid to the Employee in U.S. dollars, the Grantee Employee understands that the Employee must establish and maintain a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the sale proceeds are paid to the Employee in local currency, the Grantee 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 sale proceeds to local currency due to exchange control restrictions. The Grantee Employee agrees to bear any currency fluctuation risk between the time the Shares shares of Common Stock are sold and the net proceeds are converted into local currency and distributed to the GranteeEmployee. The Grantee 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 5 contracts

Samples: Restricted Stock Unit Award Agreement (Hillenbrand, Inc.), Performance Based Unit Award Agreement (Hillenbrand, Inc.), Award Agreement (Hillenbrand, Inc.)

Exchange Control Restrictions. The Grantee Participant understands and agrees that, if the Grantee is subject pursuant to local exchange control laws in Chinarequirements, the Grantee Participant will be required immediately to repatriate to China the proceeds from the sale of any Shares shares of Common Stock acquired under the Plan. The Grantee Participant further understands that such repatriation of proceeds may need to be effected through a special bank account established by the Company in Chinaor its Subsidiaries, and he or she the Participant hereby consents and agrees that proceeds from the sale of Shares shares of Common Stock acquired under the Plan may be transferred to such account by the Company on his or her the Participant’s behalf prior to being delivered to the Grantee Participant and that no interest shall be paid with respect to funds held in such account. The proceeds may be paid to the Grantee Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Grantee Participant understands that a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the proceeds are paid to the Participant in local currency, the Grantee Participant 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 Grantee Participant agrees to bear any currency fluctuation risk between the time the Shares shares of Common Stock are sold and the net proceeds are converted into local currency and distributed to the GranteeParticipant. The Grantee Participant further agrees to comply with any other requirements that may be imposed by the Company or its Subsidiaries in China in the future in order to facilitate compliance with exchange control requirements in China. The Participant acknowledges and agrees that the processes and requirements set forth herein shall continue to apply following the Participant’s termination. 5.

Appears in 2 contracts

Samples: Performance Share Unit Award Agreement (Tenneco Inc), Award Agreement (Tenneco Inc)

Exchange Control Restrictions. The Grantee Participant understands and agrees that, if the Grantee he or she is a PRC national and subject to exchange control laws restrictions in China, the Grantee he or she will be required to immediately to repatriate to China the proceeds from of the sale of Shares and any Shares acquired under the Plancash dividends or Dividend Equivalents to China. The Grantee Participant further understands that such the repatriation of proceeds such funds may need to be effected through a special bank exchange control account established by the Company in China, or an Affiliate and he or she hereby consents and agrees that proceeds from the sale of Shares acquired under the Plan such funds may be transferred to such special account by the Company on his or her behalf prior to being delivered to the Grantee and that no interest shall be paid with respect to funds held in such Participant’s personal account. The proceeds Participant also understands that the Company will deliver any sale proceeds, cash dividends or Dividend Equivalents to Participant as soon as practicable, but that there may be delays in distributing the funds due to exchange control requirements in China. Proceeds may be paid to the Grantee Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Grantee understands that Participant will be required to set up a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such this account. If the proceeds are paid in local currency, the Grantee acknowledges that the Company is under no obligation to secure any particular exchange currency conversion rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions. The Grantee , and Participant agrees to bear any currency fluctuation risk between the time the Shares are sold and the time (i) the Tax-Related Items are converted to local currency and remitted to the tax authorities and/or (ii) the net proceeds are converted into to local currency and distributed to the GranteeParticipant. The Grantee 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.

Appears in 2 contracts

Samples: Global Restricted Stock Unit Award Agreement (Trane Technologies PLC), Restricted Stock Unit Award Agreement (Allegion PLC)

Exchange Control Restrictions. The Grantee By accepting the Award, the Participant acknowledges that he or she understands and agrees that, if the Grantee is subject due to exchange control laws in China, the Grantee will be required immediately Participant is not permitted to repatriate to China the proceeds from the sale of transfer any Shares acquired under the Plan. The Grantee further understands that such repatriation Plan out of proceeds may need to be effected through a special bank the Participant’s account established by with the Company in ChinaCompany’s designated broker, and he that the Participant will be required to immediately repatriate all proceeds due to the Participants as a result of his or she hereby consents and agrees that her participation in the Plan, including any proceeds from the sale of Shares acquired under the Plan to China. The Participant further understands that, under Local Law, such repatriation of the proceeds will need to be effected through a special exchange control account established by the Company, the Employer, or an Affiliate in China, and the Participant hereby consents and agrees that the proceeds may be transferred to such special account by the Company on his or her behalf prior to being delivered to the Grantee and that no interest shall be paid with respect to funds held Participant in such accountChina. The proceeds may be paid to the Grantee in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Grantee Participant understands that he or she may be required to set up a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such this account. If the proceeds are paid in converted to local currency, the Grantee Participant acknowledges that the Company is under no obligation to secure any particular exchange currency conversion rate rate, and that the Company it may face delays in converting the proceeds to local currency due to exchange control restrictionsrestrictions in China. The Grantee Participant acknowledges and agrees to bear that he or she bears the risk of any currency conversion rate fluctuation risk between the time date that the Shares are sold and the net date of conversion of the proceeds are converted into to local currency and distributed to the Granteecurrency. The Grantee 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.

Appears in 2 contracts

Samples: Incentive Stock Award Agreement (Cadence Design Systems Inc), Cadence Design Systems Inc

Exchange Control Restrictions. The Grantee Optionee understands and agrees that, if the Grantee is subject pursuant to local exchange control laws in Chinarequirements, the Grantee Optionee will be required immediately to repatriate to China the proceeds from the sale of any Shares acquired under the Plan. The Grantee Optionee further understands that such repatriation of proceeds may need to be effected through a special bank account established by the Company in Chinaor its Subsidiaries and Affiliates, and he or she Optionee hereby consents and agrees that proceeds from the sale of Shares acquired under the Plan may be transferred to such account by the Company on his or her Optionee's behalf prior to being delivered to the Grantee Optionee and that no interest shall be paid with respect to funds held in such account. The proceeds may be paid to the Grantee Optionee in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to Optionee in U.S. dollars, the Grantee Optionee understands that a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the proceeds are paid to Optionee in local currency, the Grantee Optionee 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 Grantee Optionee agrees to bear any currency fluctuation risk between the time the Shares are sold and the net proceeds are converted into local currency and distributed to the GranteeOptionee. The Grantee 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: Ceridian HCM (Ceridian HCM Holding Inc.)

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Exchange Control Restrictions. The Grantee Employee understands and agrees that, if the Grantee Employee is subject to exchange control laws in China, the Grantee Employee will be required immediately to repatriate immediately to China the proceeds from the sale of any Shares shares of Common Stock acquired under the Plan. The Grantee Employee further understands that such repatriation of sale proceeds may need to must be effected through a special bank account established by the Company with a financial institution in China, China and he or she the Employee hereby consents and agrees that proceeds from the sale of Shares shares of Common Stock acquired under the Plan may be transferred to such account by the Company on his or her the Employee’s behalf prior to being delivered to the Grantee Employee and that no interest shall be paid with respect to funds held in such account. The Sale proceeds may be paid to the Grantee Employee in U.S. dollars or local currency at the Company’s discretion. If the sale proceeds are paid to the Employee in U.S. dollars, the Grantee Employee understands that the Employee must establish and maintain a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the sale proceeds are paid to the Employee in local currency, the Grantee 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 sale proceeds to local currency due to exchange control restrictions. The Grantee Employee agrees to bear any currency fluctuation risk between the time the Shares shares of Common Stock are sold and the net proceeds are converted into local currency and distributed to the GranteeEmployee. The Grantee 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.. RSU | Revised February 2021 - A-9 -

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Hillenbrand, Inc.)

Exchange Control Restrictions. The Grantee understands and agrees that, if the Grantee is subject to exchange control laws in China, the Grantee will be required immediately to repatriate to China the proceeds from the sale of any Shares acquired under the Plan. The Grantee further understands that such repatriation of proceeds may need to be effected through a special bank account established by the Company in China, and he or she hereby consents and agrees that proceeds from the sale of Shares acquired under the Plan may be transferred to such account by the Company on his or her behalf prior to being delivered to the Grantee and that no interest shall be paid with respect to funds held in such account. The proceeds may be paid to the Grantee in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Grantee understands that a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the proceeds are paid in local currency, the Grantee 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 Grantee agrees to bear any currency fluctuation risk between the time the Shares are sold sold, and the net proceeds are converted into local currency and distributed to the Grantee. The Grantee 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: Restricted Stock Unit Award Agreement (Jabil Inc)

Exchange Control Restrictions. The Grantee Participant understands and agrees that, if that the Grantee is subject to exchange control laws in China, the Grantee Participant will be required to immediately to repatriate to China the proceeds from the sale of any Shares acquired under the PlanPlan and any cash dividends paid on such Shares. The Grantee Participant further understands that such repatriation of proceeds may need to be effected through a special bank account established by the Company in China(or a Subsidiary), and he or she the Participant hereby consents and agrees that any sale proceeds from the sale of Shares acquired under the Plan and cash dividends may be transferred to such special account by the Company (or a Subsidiary) on his or her the Participant’s behalf prior to being delivered to the Grantee Participant and that no interest shall be paid with respect to funds held in such account. The proceeds may be paid to the Grantee Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Grantee Participant understands that a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into such account. If the proceeds are paid to the Participant in local currency, the Grantee Participant acknowledges that the Company is (or its Subsidiaries) are under no obligation to secure any particular exchange conversion rate and that the Company (or its Subsidiaries) may face delays in converting the proceeds to local currency due to exchange control restrictions. The Grantee Participant agrees to bear any currency fluctuation risk between the time the Shares are sold and the net proceeds are converted into local currency and distributed to the GranteeParticipant. The Grantee 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.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Howmet Aerospace Inc.)

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