WORKING TIME DECLARATION AND NOTIFICATION TO HMRC Sample Clauses

WORKING TIME DECLARATION AND NOTIFICATION TO HMRC. 1.1 The Option Holder hereby declares, pursuant to the requirement set out in paragraph 44(5)(c) of Schedule 5 to ITEPA, that he works for the Company or for a subsidiary of the Buyer for at least 25 hours a week or, if less, at least 75% of his working time, and therefore satisfies the committed time requirement in paragraph 26 of Schedule 5 to ITEPA. 1.2 The Buyer and the Company jointly and severally agree that one of them will notify HMRC of the grant of the New Option within 92 days of the date of this Agreement in accordance with paragraph 44 of Schedule 5 to ITEPA.
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