Common use of Distribution of Stock Options Clause in Contracts

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2018 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options. The Company shall hold the stock options on behalf of the stock option owner until the beginning of the share subscription period. To the extent the legislation or the Company’s insider rules in force from time to time do not impose restrictions for transfer, the stock options may freely be transferred and pledged, when the relevant share subscription period has begun. The Board of Directors may, however, permit the transfer or pledge of stock options also before such date. Should the stock option owner transfer or pledge his or her stock options, such person shall be obliged to inform the Company about the transfer or pledge in writing, without delay. The Board of Directors may, at its discretion, decide to restrict the transfer of stock options in certain countries, e.g. for legal or administrative reasons. Should a stock option owner cease to be employed by or in the service of the Company, for any reason other than the death or the statutory retirement of a stock option owner or the retirement of a stock option owner in compliance with the employment or service contract, or the retirement of a stock option owner otherwise determined by the Company, or the permanent disability of a stock option owner, such person shall, without delay, forfeit to the Company or its designee, without compensation, such stock options that the Board of Directors has distributed to him or her at its discretion, for which the share subscription period specified in Section II.2 has not begun, on the last day of such person's employment or service. Should the rights and obligations arising from the stock option owner's employment or service be transferred to a new owner or holder, upon the employer's transfer of business, the process shall be similar. As an exception to the above, the Board of Directors may, at its discretion, decide, when appropriate, that the stock option owner is entitled to keep such stock options, or a part of them. The Board of Directors may decide on incorporation of the stock options into the book-entry securities system. If the stock options have been incorporated into the book-entry securities system, the Company shall have the right to request and get transferred all forfeited stock options from the stock option owner's book-entry account to the book-entry account appointed by the Company, without the consent of the stock option owner. In addition, the Company shall be entitled to register transfer restrictions and other respective restrictions concerning the stock options on the stock option owner's book-entry account, without the consent of the stock option owner. A stock option owner shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options that have been forfeited in accordance with these terms and conditions.

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2018 2022-2024 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors expects that it will allocate approximately 1/3 of the maximum total number of stock options annually starting 2022. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options. The Company shall hold the stock options on behalf of the stock option owner until the beginning of the share subscription period. To the extent the legislation or the Company’s insider rules in force from time to time do not impose restrictions for transfer, the stock options may freely be transferred and pledged, when the relevant share subscription period has begun. The Board of Directors may, however, permit the transfer or pledge of stock options also before such date. Should the stock option owner transfer or pledge his or her stock options, such person shall be obliged to inform the Company about the transfer or pledge in writing, without delay. The Board of Directors may, at its discretion, decide to restrict the transfer of stock options in certain countries, e.g. for legal or administrative reasons. Should a an owner of stock option owner cease to be employed by or in the service of the Company, Company for any reason other than the death or the statutory retirement of a stock option owner or the retirement of a stock option owner in compliance with the employment or service contract, or the retirement of a stock option owner otherwise determined by the Company, or the permanent disability of a stock option owner, such person shall, without delay, forfeit to the Company or its designee, without compensation, such stock options that the Board of Directors has distributed to him or her at its discretion, for which the share subscription period specified in Section II.2 has not begun, on the last day of such person's employment or service. Should the rights and obligations arising from the stock option owner's employment or service be transferred to a new owner or holder, upon the employer's transfer of business, the process shall be similar. As an exception to the above, the Board of Directors may, at its discretion, decide, when appropriate, that the stock option owner is entitled to keep such stock options, or a part of them. The Board of Directors may decide on incorporation of the stock options into the book-entry securities system. If the stock options have been incorporated into the book-entry securities system, the Company shall have the right to request and get transferred all forfeited stock options from the stock option owner's book-entry account to the book-entry account appointed by the Company, without the consent of the stock option owner. In addition, the Company shall be entitled to register transfer restrictions and other respective restrictions concerning the stock options on the stock option owner's book-entry account, without the consent of the stock option owner. A stock option owner shall, during his employment, employment or service or thereafter, have no right to receive compensation on any grounds for stock options that have been forfeited in accordance with these terms and conditions.

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2018 2019 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options. The Company shall hold the stock options on behalf of the stock option owner until the beginning of the share subscription period. To the extent the legislation or the Company’s insider rules in force from time to time do not impose restrictions for transfer, the stock options may freely be transferred and pledged, when the relevant share subscription period has begun. The Board of Directors may, however, permit the transfer or pledge of stock options also before such date. Should the stock option owner transfer or pledge his or her stock options, such person shall be obliged to inform the Company about the transfer or pledge in writing, without delay. The Board of Directors may, at its discretion, decide to restrict the transfer of stock options in certain countries, e.g. for legal or administrative reasons. Should a stock option owner cease to be employed by or in the service of the Company, for any reason other than the death or the statutory retirement of a stock option owner or the retirement of a stock option owner in compliance with the employment or service contract, or the retirement of a stock option owner otherwise determined by the Company, or the permanent disability of a stock option owner, such person shall, without delay, forfeit to the Company or its designee, without compensation, such stock options that the Board of Directors has distributed to him or her at its discretion, for which the share subscription period specified in Section II.2 has not begun, on the last day of such person's employment or service. Should the rights and obligations arising from the stock option owner's employment or service be transferred to a new owner or holder, upon the employer's transfer of business, the process shall be similar. As an exception to the above, the Board of Directors may, at its discretion, decide, when appropriate, that the stock option owner is entitled to keep such stock options, or a part of them. The Board of Directors may decide on incorporation of the stock options into the book-entry securities system. If the stock options have been incorporated into the book-entry securities system, the Company shall have the right to request and get transferred all forfeited stock options from the stock option owner's book-entry account to the book-entry account appointed by the Company, without the consent of the stock option owner. In addition, the Company shall be entitled to register transfer restrictions and other respective restrictions concerning the stock options on the stock option owner's book-entry account, without the consent of the stock option owner. A stock option owner shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options that have been forfeited in accordance with these terms and conditions.

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2018 2023-2025 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options. The Company shall hold the stock options on behalf of the stock option owner until the beginning of the share subscription period. To the extent the legislation or the Company’s insider rules in force from time to time do not impose restrictions for transfer, the stock options may freely be transferred and pledged, when the relevant share subscription period has begun. The Board of Directors may, however, permit the transfer or pledge of stock options also before such date. Should the stock option owner transfer or pledge his or her stock options, such person shall be obliged to inform the Company about the transfer or pledge in writing, without delay. The Board of Directors may, at its discretion, decide to restrict the transfer of stock options in certain countries, e.g. for legal or administrative reasons. Should a an owner of stock option owner cease to be employed by or in the service of the Company, Company for any reason other than the death or the statutory retirement of a stock option owner or the retirement of a stock option owner in compliance with the employment or service contract, or the retirement of a stock option owner otherwise determined by the Company, or the permanent disability of a stock option owner, such person shall, without delay, forfeit to the Company or its designee, without compensation, such stock options that the Board of Directors has distributed to him or her at its discretion, for which the share subscription period specified in Section II.2 has not begun, on the last day of such person's employment or service. Should the rights and obligations arising from the stock option owner's employment or service be transferred to a new owner or holder, upon the employer's transfer of business, the process shall be similar. As an exception to the above, the Board of Directors may, at its discretion, decide, when appropriate, that the stock option owner is entitled to keep such stock options, or a part of them. The Board of Directors may decide on incorporation of the stock options into the book-entry securities system. If the stock options have been incorporated into the book-entry securities system, the Company shall have the right to request and get transferred all forfeited stock options from the stock option owner's book-entry account to the book-entry account appointed by the Company, without the consent of the stock option owner. In addition, the Company shall be entitled to register transfer restrictions and other respective restrictions concerning the stock options on the stock option owner's book-entry account, without the consent of the stock option owner. A stock option owner shall, during his employment, employment or service or thereafter, have no right to receive compensation on any grounds for stock options that have been forfeited in accordance with these terms and conditions.