Common use of Foreign Exchange Restrictions Clause in Contracts

Foreign Exchange Restrictions. Employee may acquire and remit foreign currency (including proceeds from the sale of Shares) into and out of Taiwan of up to US $5,000,000 per year. If this threshold is exceeded, Employee may be required to apply for an approval from the Central Bank of China ("CBC"). In the event that the remittance amount reaches US $500,000 or more, Employee may be required to provide supporting documentation to the satisfaction of the remitting bank. Please also note that if the transaction amount is NT $500,000 or more in a single transaction, it should be declared on a CBC-prescribed form, but this is typically a standard procedure managed by the local bank handling the transaction.