Common use of Foreign Asset/Account Reporting Requirements; Exchange Controls Clause in Contracts

Foreign Asset/Account Reporting Requirements; Exchange Controls. The Participant acknowledges that his or her country may have certain foreign asset and/or foreign account reporting requirements and exchange controls which may affect Participant’s ability to acquire or hold Shares acquired under the Plan or cash received from participating in the Plan (including from any sale proceeds or dividends paid on Shares acquired under the Plan). The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country. The Participant also may be required to repatriate sale proceeds or other funds received as a result of participation in the Plan to his or her country through a designated bank or broker and/or within a certain time after receipt. The Participant acknowledges that it is his or her responsibility to be compliant with such regulations and the Participant should consult his or her personal legal advisor for any details.

Appears in 5 contracts

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

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Foreign Asset/Account Reporting Requirements; Exchange Controls. The Participant acknowledges that his or her country may have certain foreign asset and/or foreign account reporting requirements and and/or exchange controls which that may affect Participant’s his or her ability to acquire or hold Shares acquired under the Plan shares of Common Stock or cash received from participating in the Plan (including from any dividends or Dividend Equivalents received or sale proceeds arising from the sale of shares of Common Stock) in a brokerage or dividends paid on Shares acquired under bank account outside the Plan)Participant’s country. The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country. The Participant also may be required to repatriate sale proceeds or other funds received as a result of his or her participation in the Plan to his or her country through a designated bank or broker and/or within a certain time after receipt. The Participant acknowledges that it is his or her responsibility to be compliant with such regulations regulations, and the Participant should is advised to consult his or her personal legal advisor for any details.

Appears in 1 contract

Samples: Global TSR Share Award Agreement (PPG Industries Inc)

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