South Africa. Tax Acknowledgment By accepting this Option, the Employee agrees to notify the Employer of the amount of any gain realized upon exercise of this Option. If the Employee fails to advise the Employer of the gain realized upon exercise, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Options under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment Terms and Conditions Withholding Taxes. This provision supplements Section 7 of the Award Agreement: By accepting this Optionthe Restricted Stock Units, the Employee Participant agrees to immediately notify the Employer of the amount of any gain realized upon exercise vesting of this Optionthe Restricted Stock Units. If the Employee Participant fails to advise the Employer of the gain realized upon exerciseat vesting, the Employee Participant may be liable for a fine. The Employee Participant will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the Notifications Exchange Control Information. Participant is responsible for complying with applicable South African Reserve Serviceexchange control regulations. The Employee must also complete a transfer Since the exchange control regulations change frequently and without notice, Participant should consult Participant’s legal advisor prior to the acquisition or sale of funds application form Shares acquired under the Plan to transfer ensure compliance with current regulations. As noted, it is Participant’s responsibility to comply with South African exchange control laws, and neither the fundsCompany nor any Parent or Subsidiary will be liable for any fines or penalties resulting from Participant’s failure to comply with applicable laws. The Tax Clearance Certificate should be presented to a dealer SPAIN Terms and Conditions 6584426-v15\GESDMS Nature of Grant. This provision supplements Section 10 of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment Award Agreement: By accepting this Optionthe Restricted Stock Units, the Employee acknowledges that he or she understands and agrees Participant consents to participation in the Plan and acknowledges that he or she Participant has received a copy of the Plan. The Employee Participant understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally in its sole discretion decided to grant Options Restricted Stock Units under the Plan to individuals who may be employees of the Corporation or its Affiliates Service Providers throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basisParent or Subsidiary, other than to the extent set forth in this Award Agreement. Consequently, the Employee Participant understands that any grant is given the Restricted Stock Units are granted on the assumption and condition that it shall the Restricted Stock Units and any Shares acquired at vesting of the Restricted Stock Units are not become a part of any employment or service contract (either with the Corporation Company or any of its Affiliates) Parent or Subsidiary), and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) ), or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option and the underlying shares is unknown and unpredictable. In addition, the Employee Participant understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Participant acknowledges and freely accepts that that, should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option any grant of or right to the Restricted Stock Units shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items Further, except as otherwise provided in the Acknowledgment of Conditions section of Plan and the Award Agreement: If payment , Participant understands that he or withholding of she will not be entitled to continue vesting in any Restricted Stock Units once Participant’s status as a Service Provider terminates. This will be the income tax due is not made within 90 days of case, for example, even in the event giving rise of a termination of Participant’s status of a Service Provider by reason of, but not limited to, resignation, retirement, disciplinary dismissal adjudged to the Tax-Related Items be with cause, disciplinary dismissal adjusted or such other period specified in section 222(1)(c) recognized to be without cause, individual or collective dismissal or objective grounds, whether adjudged or recognized to be without cause, material modification of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to employment under Article 41 of the Employee. In Workers’ Statute, relocation under Article 40 of the event that Workers’ Statute, Article 50 of the Employee is an officer or directorWorkers’ Statute, as defined above, and Tax-Related Items are not collected from or paid unilateral withdrawal by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax Employer and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any under Article 10.3 of the means referred to Royal Decree 1382/1985. Participant acknowledges that Participant has read and specifically accepts the vesting and termination conditions in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Fortinet Inc)
South Africa. Tax Acknowledgment By accepting this Optionthe Award, the Employee agrees to notify the Employer of the amount of any gain realized upon exercise vesting of this Optionthe Award. If the Employee fails to advise the Employer of the gain realized upon exercisevesting, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting this Optionthe Award, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Options Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the Award and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option the Award shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting this OptionTerms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the Plan, Xxxxxxx understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees “Exchange Control Regulations”) in South Africa. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to notify the purchase or sale of shares under the Plan to ensure compliance with current regulations. Xxxxxxx understands that it is Xxxxxxx’s responsibility to comply with South African exchange control laws, and neither the Company nor your Employer of the amount of any gain realized upon exercise of this Option. If the Employee fails to advise the Employer of the gain realized upon exercise, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash fines or penalties resulting from failure to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together comply with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Serviceapplicable laws. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Xxxxxxx understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Options distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s option grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the awards and the underlying shares is unknown and unpredictable. In addition, the Employee Xxxxxxx understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. UNITED KINGDOM Tax Acknowledgment The following information supplements - 7 - Further, the information regarding Tax-Related Items Option provides a conditional right to Shares and may be forfeited or affected by Grantee’s termination of employment, as set forth in the Acknowledgment Agreement. For avoidance of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise doubt, Xxxxxxx’s rights, if any, to the Tax-Related Items Options upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or such objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other period specified in section 222(1)(cemployment or contractual condition; or (iv) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee Grantee terminates service due to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her MajestyCompany’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer its subsidiaries’ unilateral breach of any shares unless and until the loan is repaid in fullcontract.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting this Optionthe Award, the Employee Participant agrees to notify the Employer of the amount of any gain realized upon exercise vesting of this Optionthe Award. If the Employee Participant fails to advise the Employer of the gain realized upon exercisevesting, the Employee Participant may be liable for a fine. The Employee Participant will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting this Optionthe Award, the Employee Participant acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee Participant understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Options Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee Participant understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the Award and the underlying shares is unknown and unpredictable. In addition, the Employee Participant understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee Participant understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option the Award shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting this OptionTerms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the Plan, Grantee understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees “Exchange Control Regulations”) in South Africa. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to notify the purchase or sale of shares under the Plan to ensure compliance with current regulations. Grantee understands that it is Grantee’s responsibility to comply with South African exchange control laws, and neither the Company nor your Employer of the amount of any gain realized upon exercise of this Option. If the Employee fails to advise the Employer of the gain realized upon exercise, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash fines or penalties resulting from failure to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together comply with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Serviceapplicable laws. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Grantee understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Options distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s option grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the awards and the underlying shares is unknown and unpredictable. In addition, the Employee Grantee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. UNITED KINGDOM Tax Acknowledgment The following information supplements - 7 - Further, the information regarding Tax-Related Items Option provides a conditional right to Shares and may be forfeited or affected by Grantee’s termination of employment, as set forth in the Acknowledgment Agreement. For avoidance of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise doubt, Grantee’s rights, if any, to the Tax-Related Items Options upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or such objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other period specified in section 222(1)(cemployment or contractual condition; or (iv) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee Grantee terminates service due to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her MajestyCompany’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer its subsidiaries’ unilateral breach of any shares unless and until the loan is repaid in fullcontract.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting this OptionTerms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the Plan, Xxxxxxx understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees to notify “Exchange Control Regulations”) in South Africa. For RSUs, because no transfer of funds from South Africa is required, no filing or reporting requirements should apply when the Employer RSUs, if any, are granted or when shares are issued upon vesting and settlement of the amount RSUs. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to the purchase or sale of any gain realized upon exercise of this Optionshares under the Plan to ensure compliance with current regulations. If Xxxxxxx understands that it is Xxxxxxx’s responsibility to comply with South African exchange control laws, and neither the Employee fails to advise the Company nor Xxxxxxx’s Employer of the gain realized upon exercise, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash fines or penalties resulting from failure to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together comply with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Serviceapplicable laws. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Xxxxxxx understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Options distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s RSU grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the awards and the underlying shares is unknown and unpredictable. In addition, the Employee Xxxxxxx understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. UNITED KINGDOM Tax Acknowledgment The following information supplements Further, the information regarding Tax-Related Items RSU Award provides a conditional right to Shares and may be forfeited or affected by Xxxxxxx’s termination of employment, as set forth in the Acknowledgment Agreement. For avoidance of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise doubt, Xxxxxxx’s rights, if any, to the Tax-Related Items RSUs upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or such objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other period specified in section 222(1)(cemployment or contractual condition; or (iv) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee Grantee terminates service due to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her MajestyCompany’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer its subsidiaries’ unilateral breach of any shares unless and until the loan is repaid in fullcontract.
Appears in 1 contract
Samples: Form of Restricted Stock Unit Agreement (Fluor Corp)
South Africa. Tax Acknowledgment By accepting this Option, the Employee agrees to notify the Employer of the amount of any gain realized upon exercise of this Option. If the Employee fails to advise the Employer of the gain realized upon exercise, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then than a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Options under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Terms and Conditions Tax Acknowledgment Withholding. This provision supplements the Tax Withholding section of the Award: By accepting this Optionthe Award, the Employee Participant agrees to immediately notify the Employer of the amount of any gain realized upon exercise vesting of this Optionthe Restricted Stock Units. If the Employee Participant fails to advise the Employer of the gain realized upon at exercise, the Employee Participant may be liable for a fine. The Employee Participant will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the Notifications Exchange Control Information. Participant is solely responsible for complying with applicable South African Reserve Serviceexchange control regulations. The Employee must also complete a Because no transfer of funds application form to transfer from South Africa is required under the funds. The Tax Clearance Certificate Award, no filing or reporting requirements should be presented to a dealer apply when the Restricted Stock Units are granted or when Award Shares are issued upon vesting/settlement of the Exchange Control Department Restricted Stock Units. However, since the exchange control regulations change frequently and without notice, Participant should consult his or her legal advisor prior to the acquisition or sale of Award Shares acquired under the South Africa Reserve Bank (Plan to ensure compliance with current regulations. As noted, it is likely that the EmployeeParticipant’s bank will qualify as such a dealer), together responsibility to comply with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Serviceexchange control laws, and neither the Company nor the Employer will be liable for any fines or penalties resulting from Participant’s failure to comply with applicable laws. SPAIN Labor Law Terms and Conditions Acknowledgment By of Nature of Plan and Award. This provision supplements the Acknowledgment of Nature of Plan and Award section the Award: In accepting this Optionthe Award, the Employee acknowledges that he or she understands and agrees Participant consents to participation participate in the Plan and acknowledges that he or she has received a copy of the Plan. The Employee Participant understands that the Corporation Company has unilaterally, gratuitously and discretionally decided to grant Options Restricted Stock Units under the Plan to individuals who may be employees of the Corporation Company or its Affiliates a Subsidiary or affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basisSubsidiaries or affiliates. Consequently, the Employee Participant understands that any grant is given the Restricted Stock Units are granted on the assumption and condition that it the Restricted Stock Units and the Award Shares issued upon vesting/settlement of the Restricted Stock Units shall not become a part of any employment contract (either with the Corporation Company or any of its AffiliatesSubsidiary or affiliate) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option and the underlying shares is unknown and unpredictable. In addition, the Employee Participant understands that this grant Award would not be made to Participant but for the assumptions and conditions referred to aboveherein; thus, the Employee understands, Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option the grant of these Restricted Stock Units shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements Notifications Exchange Control Information. Participant must declare the information regarding Tax-Related Items in the Acknowledgment acquisition of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise Shares to the Tax-Related Items or such other period specified in section 222(1)(cDirección General de Politica Comercial y de Inversiones Extranjeras (the “DGPCIE”) of the U.K. Income Tax Ministerio de Economia for statistical purposes. Participant must also declare ownership of any Shares with the Directorate of Foreign Transactions each January while the Award Shares are owned. In addition, if Participant wishes to import the ownership title of any Award Shares (Earnings and Xxxxxxxxi.e., share certificates) Xxx 0000 into Spain, he or she must declare the importation of such securities to the DGPCIE. When receiving foreign currency payments derived from the ownership of Award Shares (the “Due Date”i.e., cash dividends or sale proceeds), Participant must inform the financial institution receiving the payment of the basis upon which such payment is made. Participant will need to provide the financial institution with the following information: (i) Participant’s name, address and fiscal identification number; (ii) the name and corporate domicile of the Company; (iii) the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to payment; (iv) the Employer, effective on currency used; (v) the Due Date. The Employee agrees country of origin; (vi) the reasons for the payment; and (vii) additional information that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payablerequired. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award AgreementSWEDEN There are no country-specific provisions. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.SWITZERLAND Notifications
Appears in 1 contract
Samples: www.sec.gov
South Africa. Tax Acknowledgment By accepting this Optionthe Award, the Employee agrees to notify the Employer of the amount of any gain realized upon exercise vesting of this Optionthe Award. If the Employee fails to advise the Employer of the gain realized upon exercisevesting, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting this Optionthe Award, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Options Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the Award and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option the Award shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.KINGDOM
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting this OptionTerms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the Plan, Grantee understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees to notify “Exchange Control Regulations”) in South Africa. For RSUs, because no transfer of funds from South Africa is required, no filing or reporting requirements should apply when the Employer RSUs, if any, are granted or when shares are issued upon vesting and settlement of the amount RSUs. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to the purchase or sale of any gain realized upon exercise of this Optionshares under the Plan to ensure compliance with current regulations. If Grantee understands that it is Grantee’s responsibility to comply with South African exchange control laws, and neither the Employee fails to advise the Company nor Grantee’s Employer of the gain realized upon exercise, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash fines or penalties resulting from failure to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together comply with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Serviceapplicable laws. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Grantee understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Options distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s RSU grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the awards and the underlying shares is unknown and unpredictable. In addition, the Employee Grantee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. UNITED KINGDOM Tax Acknowledgment The following information supplements Further, the information regarding Tax-Related Items RSU Award provides a conditional right to Shares and may be forfeited or affected by Grantee’s termination of employment, as set forth in the Acknowledgment Agreement. For avoidance of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise doubt, Grantee’s rights, if any, to the Tax-Related Items RSUs upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or such objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other period specified in section 222(1)(cemployment or contractual condition; or (iv) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee Grantee terminates service due to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her MajestyCompany’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer its subsidiaries’ unilateral breach of any shares unless and until the loan is repaid in fullcontract.
Appears in 1 contract
Samples: Form of Restricted Stock Unit Agreement (Fluor Corp)
South Africa. Tax Acknowledgment By accepting this OptionTerms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the Plan, Xxxxxxx understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees “Exchange Control Regulations”) in South Africa. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to notify the purchase or sale of shares under the Plan to ensure compliance with current regulations. Xxxxxxx understands that it is Xxxxxxx’s responsibility to comply with South African exchange control laws, and neither the Company nor your Employer of the amount of any gain realized upon exercise of this Option. If the Employee fails to advise the Employer of the gain realized upon exercise, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash fines or penalties resulting from failure to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together comply with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Serviceapplicable laws. SPAIN Labor Law Acknowledgment By accepting this Option, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Xxxxxxx understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Options distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s option grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of this Option the awards and the underlying shares is unknown and unpredictable. In addition, the Employee Xxxxxxx understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then this Option any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. UNITED KINGDOM Tax Acknowledgment The following information supplements Further, the information regarding Tax-Related Items Option provides a conditional right to Shares and may be forfeited or affected by Grantee’s termination of employment, as set forth in the Acknowledgment Agreement. For avoidance of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise doubt, Xxxxxxx’s rights, if any, to the Tax-Related Items Options upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or such objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other period specified in section 222(1)(cemployment or contractual condition; or (iv) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee Grantee terminates service due to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her MajestyCompany’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer its subsidiaries’ unilateral breach of any shares unless and until the loan is repaid in fullcontract.
Appears in 1 contract
