Common use of Poland Clause in Contracts

Poland. Xxxxxx acknowledges and agrees that the following restrictions shall apply in respect of equity securities issued by Polish companies (“Polish Securities”): a) the Journal of laws of Poland 2015, No.1272, which became effective in October 2015 (the “Act”) introduced pre-approval requirements from the Polish Government prior to any acquisition of significant shareholdings in certain Protected Companies (as defined by the Act and subject to change from time to time). In order to manage the transaction pre-approval requirements for the Lender, X.X. Xxxxxx will be limiting the securities lending program to actively lend only those Polish Securities where the Lender’s aggregate holding is less than 5%; b) as the list of Protected Companies impacted by the Act is subject to on-going change, this arrangement will be applied to all Polish Securities held through X.X. Xxxxxx that have been made eligible for lending in the program by the Lender. As Xxxxxx’s Lending Agent, X.X. Xxxxxx are unable to determine the Lender’s total aggregate size of holding in such Polish Securities, therefore Lender will be responsible for notifying X.X. Xxxxxx where Lender is either holding, or proposing to acquire a total holding of 5% or greater of voting capital in Polish Securities. Lenders are required to provide such notification to X.X. Xxxxxx no later than trade date of the acquisition transaction resulting in a 5% or above holding; and c) a failure to comply with the notification requirement could result in securities lending transactions being undertaken by X.X. Xxxxxx without Lender seeking the requisite pre-approval potentially resulting in penalties being levied against the Lender by the Polish Government for which the Lender is solely responsible.

Poland. Xxxxxx acknowledges and agrees that the following restrictions shall apply in respect of equity securities issued by Polish companies (“Polish Securities”): a) the Journal of laws of Poland 2015, No.1272, which became effective in October 2015 (the “Act”) introduced pre-approval requirements from the Polish Government prior to any acquisition of significant shareholdings in certain Protected Companies (as defined by the Act and subject to change from time to time). In order to manage the transaction pre-approval requirements for the Lender, X.X. Xxxxxx will be limiting the securities lending program to actively lend only those Polish Securities where the Lender’s aggregate holding is less than 5%; b) as the list of Protected Companies impacted by the Act is subject to on-going change, this arrangement will be applied to all Polish Securities held through X.X. Xxxxxx that have been made eligible for lending in the program by the Lender. As Xxxxxx’s Lending Agent, X.X. Xxxxxx are unable to determine the Lender’s total aggregate size of holding in such Polish Securities, therefore Lender will be responsible for notifying X.X. Xxxxxx where Lender is either holding, or proposing to acquire a total holding of 5% or greater of voting capital in Polish Securities. Lenders are required to provide such notification to X.X. Xxxxxx no later than trade date of the acquisition transaction resulting in a 5% or above holding; and c) a failure to comply with the notification requirement could result in securities lending transactions being undertaken by X.X. Xxxxxx without Lender seeking the requisite pre-pre- approval potentially resulting in penalties being levied against the Lender by the Polish Government for which the Lender is solely responsible.

Poland. Xxxxxx Lender acknowledges and agrees that the following restrictions shall apply in respect of equity securities issued by Polish companies (“Polish Securities”): a) the Journal of laws of Poland 2015, No.1272, which became effective in October 2015 (the “Act”) introduced pre-approval requirements from the Polish Government prior to any acquisition of significant shareholdings in certain Protected Companies (as defined by the Act and subject to change from time to time). In order to manage the transaction pre-approval requirements for the Lender, X.X. Xxxxxx will be limiting the securities lending program to actively lend only those Polish Securities where the Lender’s aggregate holding is less than 5%; b) as the list of Protected Companies impacted by the Act is subject to on-going change, this arrangement will be applied to all Polish Securities held through X.X. Xxxxxx that have been made eligible for lending in the program by the Lender. As XxxxxxLender’s Lending Agent, X.X. Xxxxxx are unable to determine the Lender’s total aggregate size of holding in such Polish Securities, therefore Lender will be responsible for notifying X.X. Xxxxxx where Lender is either holding, or proposing to acquire a total holding of 5% or greater of voting capital in Polish Securities. Lenders are required to provide such notification to X.X. Xxxxxx no later than trade date of the acquisition transaction resulting in a 5% or above holding; and c) a failure to comply with the notification requirement could result in securities lending transactions being undertaken by X.X. Xxxxxx without Lender seeking the requisite pre-approval potentially resulting in penalties being levied against the Lender by the Polish Government for which the Lender is solely responsible.