Common use of Local Compliance Clause in Contracts

Local Compliance. The Holder remains personally responsible for any local compliance requirements resulting from their receipt, ownership, and subsequent sale of Stock, as well as the transfer of funds abroad, the making of a foreign investment, and the opening or use of a U.S. brokerage account in relation to their receipt of Stock. If the Award under this Agreement is subject to China SAFE regulations, the Holder agrees to abide by applicable requirements for disposal of vested Stock following termination of employment and hereby affirmatively authorizes the Company to direct the sale or disposal of Stock within 6 months following termination of employment in order to comply with these requirements.

Local Compliance. The Holder remains personally responsible for any local compliance requirements resulting from their receipt, ownership, and subsequent sale of Stock, as well as the transfer of funds abroad, the making of a foreign investment, and the opening or use of a U.S. brokerage account in relation to their receipt of Stock. If the Award under this Agreement is subject to China SAFE regulations, the Holder agrees to abide by applicable requirements for disposal of vested Stock shares following termination of employment and hereby affirmatively authorizes the Company to direct the sale or disposal of Stock shares within 6 months following termination of employment in order to comply with these requirements.