Common use of Purpose of Election Clause in Contracts

Purpose of Election. 2.1 This Election relates to the Employer's secondary Class 1 National Insurance Contributions (the “Employer's Liability”) which may arise on the occurrence of a “Taxable Event” which gives rise to relevant employment income within section 4(4)(a) and/or paragraph 3B(1A) of Schedule 1 of the Social Security Contributions and Benefits Xxx 0000 (“SSCBA”), including but not limited to: (i) the acquisition of securities pursuant to the Awards (pursuant to section 477(3)(a) ITEPA); and/or (ii) the assignment or release of the Awards in return for consideration (pursuant to section 477(3)(b) ITEPA); and/or (iii) the receipt of any other benefit in connection with the Awards other than a benefit within (i) or (ii) above (pursuant to section 477(3)(c) ITEPA); and/or (iv) post-acquisition events relating to the Awards or the securities acquired pursuant to the Awards (within section 426 ITEPA); and/or (v) post-acquisition events relating to the Awards or the securities acquired pursuant to the Awards (within section 438 ITEPA). In this Election, ITEPA means the Income Tax (Earnings and Pensions) Xxx 0000. 2.2 This Election is made in accordance with paragraph 3B(1) of Schedule 1 to SSCBA. 2.3 This Election applies to all Awards granted to the Participant under the Plan on or after May 22, 2009 up to the termination date of the Plan. 2.4 This Election does not apply in relation to any liability, or any part of any liability, arising as a result of regulations being given retrospective effect by virtue of section 4B(2) of either the SSCBA, or the Social Security Contributions and Benefits (Northern Ireland) Xxx 0000. 2.5 This Election will not apply to the extent that it relates to relevant employment income which is employment income of the earner by virtue of Chapter 3A of Part 7 of ITEPA (employment income: securities with artificially depressed market value).

Purpose of Election. 2.1 This Election relates to the Employer's secondary Class 1 National Insurance Contributions (the “Employer's Liability”) which may arise on the occurrence of a “Taxable Event” which gives rise to relevant employment income within section 4(4)(a) and/or paragraph 3B(1A) of Schedule 1 of the Social Security Contributions and Benefits Xxx 0000 (“SSCBA”), including but not limited to: (i) a. the acquisition of securities pursuant to the Awards (pursuant to section 477(3)(a) ITEPA); and/or (ii) b. the assignment or release of the Awards in return for consideration (pursuant to section 477(3)(b) ITEPA); and/or (iii) c. the receipt of any other benefit in connection with the Awards other than a benefit within (i) or (ii) above (pursuant to section 477(3)(c) ITEPA); and/or (iv) d. post-acquisition events relating to the Awards or the securities acquired pursuant to the Awards (within section 426 ITEPA); and/or (v) e. post-acquisition events relating to the Awards or the securities acquired pursuant to the Awards (within section 438 ITEPA). In this Election, ITEPA means the Income Tax (Earnings and Pensions) Xxx 0000. 2.2 This Election is made in accordance with paragraph 3B(1) of Schedule 1 to SSCBA. 2.3 This Election applies to all Awards granted to the Participant under the Plan on or after May 22, 2009 up to the termination date of the Plan. 2.4 This Election does not apply in relation to any liability, or any part of any liability, arising as a result of regulations being given retrospective effect by virtue of section 4B(2) of either the SSCBA, or the Social Security Contributions and Benefits (Northern Ireland) Xxx 0000. 2.5 This Election will not apply to the extent that it relates to relevant employment income which is employment income of the earner by virtue of Chapter 3A of Part 7 of ITEPA (employment income: securities with artificially depressed market value).

Purpose of Election. 2.1 This Election relates to the Employer's ’s secondary Class 1 National Insurance Contributions (the “Employer's ’s Liability”) which may arise on the occurrence of a “Taxable Event” which gives rise to relevant employment income within section 4(4)(a) and/or paragraph 3B(1A) of Schedule 1 of the Social Security Contributions and Benefits Xxx 0000 (“SSCBA”), including but not limited to: (i) the acquisition of securities pursuant to the Awards (pursuant to section 477(3)(a) ITEPA); and/or (ii) the assignment or release of the Awards in return for consideration (pursuant to section 477(3)(b) ITEPA); and/or (iii) the receipt of any other benefit in connection with the Awards other than a benefit within (i) or (ii) above (pursuant to section 477(3)(c) ITEPA); and/or (iv) post-acquisition events relating to the Awards or the securities acquired pursuant to the Awards (within section 426 ITEPA); and/or (v) post-acquisition events relating to the Awards or the securities acquired pursuant to the Awards (within section 438 ITEPA). In this Election, ITEPA means the Income Tax (Earnings and Pensions) Xxx 0000. 2.2 This Election is made in accordance with paragraph 3B(1) of Schedule 1 to SSCBA. 2.3 This Election applies to all Awards granted to the Participant under the Plan on or after May 22, 2009 up to the termination date of the Plan. 2.4 This Election does not apply in relation to any liability, or any part of any liability, arising as a result of regulations being given retrospective effect by virtue of section 4B(2) of either the SSCBA, or the Social Security Contributions and Benefits (Northern Ireland) Xxx 0000. 2.5 This Election will not apply to the extent that it relates to relevant employment income which is employment income of the earner by virtue of Chapter 3A of Part 7 of ITEPA (employment income: securities with artificially depressed market value).