Exchange Control Restrictions. By accepting the Award, the Participant understands and agrees that, due to exchange control laws in China, the Participant will be required to immediately repatriate all proceeds from the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement of the Award to China. The Participant further understands that, under local law, such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, or another Affiliate in China, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan may be transferred to such special account prior to being delivered to the Participant. Proceeds may be paid in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant may be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are under no obligation to secure any currency conversion rate, and may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges and agrees that the Participant bears the risk of any fluctuation in the U.S. dollar exchange rate between the dates that the Participant’s Award is vested, exercised or settled, the proceeds are delivered to the special exchange control account and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 3 contracts
Sources: Global Performance Based Restricted Stock Unit Award Agreement (Waters Corp /De/), Global Stock Option Award Agreement (Waters Corp /De/), Global Restricted Stock Unit Award Agreement (Waters Corp /De/)
Exchange Control Restrictions. By accepting the Award, the Participant acknowledges that he or she understands and agrees that, due to exchange control laws in China, the Participant is not permitted to transfer any Shares acquired under the Plan out of the Participant’s account established with the Company’s designated broker, and that the Participant will be required to immediately repatriate all proceeds from due to the Participant’s Participants as a result of his or her participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement of acquired under the Award Plan to China. The Participant further understands that, under local lawLocal Law, such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, or another an Affiliate in China, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan may be transferred to such special account prior to being delivered to the ParticipantParticipant in China. Proceeds The proceeds may be paid in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant he or she may be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, and that it may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges and agrees that the Participant he or she bears the risk of any currency conversion rate fluctuation in the U.S. dollar exchange rate between the dates date that the Participant’s Award is vested, exercised or settled, the proceeds Shares are delivered to the special exchange control account sold and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 2 contracts
Sources: Restricted Stock Unit Award Agreement (Cadence Design Systems Inc), Incentive Stock Award Agreement (Cadence Design Systems Inc)
Exchange Control Restrictions. By accepting the Award, the The Participant understands and agrees that, due pursuant to local exchange control laws in Chinarequirements, the Participant will be required immediately to immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement any shares of Common Stock acquired under the Award to ChinaPlan. The Participant further understands that, under local law, that such repatriation of the cash proceeds will may need to be effected through a special exchange control bank account established by the Company, the Employer, Company or another Affiliate in Chinaits Subsidiaries, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in sale of shares of Common Stock acquired under the Plan may be transferred to such special account by the Company on the Participant’s behalf prior to being delivered to the ParticipantParticipant and that no interest shall be paid with respect to funds held in such account. Proceeds The proceeds may be paid to the Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Participant understands that the Participant may be required to set up a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into this such account. If the proceeds are converted paid to the Participant in local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any currency particular exchange conversion rate, rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions in Chinarestrictions. The Participant acknowledges and agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the shares of Common Stock are sold and the net proceeds are converted into local currency and distributed to the Participant’s Award is vested, exercised or settled, the proceeds are delivered to the special exchange control account and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company or its Subsidiaries in China in the future in order to facilitate compliance with exchange control requirements in China. The Participant acknowledges and agrees that the processes and requirements set forth herein shall continue to apply following the Participant’s termination. 5.
Appears in 2 contracts
Sources: Stock Settled Performance Share Unit Award Agreement (Tenneco Inc), Stock Settled Restricted Stock Unit Award Agreement (Tenneco Inc)
Exchange Control Restrictions. By accepting the Award, the Participant understands and agrees that, due if he or she is a PRC national and subject to exchange control laws restrictions in China, the Participant he or she will be required to immediately repatriate all the proceeds from the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise and any cash dividends or settlement of the Award Dividend Equivalents to China. The Participant further understands that, under local law, such that the repatriation of the cash proceeds will such funds may need to be effected through a special exchange control account established by the Company, the Employer, Company or another an Affiliate in China, and the Participant he or she hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan such funds may be transferred to such special account prior to being delivered to Participant’s personal account. Participant also understands that the ParticipantCompany will deliver any sale proceeds, cash dividends or Dividend Equivalents to Participant as soon as practicable, but that there may be delays in distributing the funds due to exchange control requirements in China. Proceeds may be paid to Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant may will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to paid in local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, rate and the Company may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The restrictions, and Participant acknowledges and agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the Participant’s Award is vested, exercised or settled, Shares are sold and the time (i) the Tax-Related Items are converted to local currency and remitted to the tax authorities and/or (ii) the net proceeds are delivered to the special exchange control account and the date of conversion of the proceeds converted to local currencycurrency and distributed to Participant. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 2 contracts
Sources: Global Restricted Stock Unit Award Agreement (Trane Technologies PLC), Restricted Stock Unit Award Agreement (Allegion PLC)
Exchange Control Restrictions. By accepting the Award, the The Participant understands and agrees that, due pursuant to local exchange control laws in Chinarequirements, the Participant will be required immediately to immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement any shares of Common Stock acquired under the Award to ChinaPlan. The Participant further understands that, under local law, that such repatriation of the cash proceeds will may need to be effected through a special exchange control bank account established by the Company, the Employer, Company or another Affiliate in Chinaits Subsidiaries, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in sale of shares of Common Stock acquired under the Plan may be transferred to such special account by the Company on the Participant’s behalf prior to being delivered to the ParticipantParticipant and that no interest shall be paid with respect to funds held in such account. Proceeds The proceeds may be paid to the Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Participant understands that the Participant may be required to set up a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into this such account. If the proceeds are converted paid to the Participant in local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any currency particular exchange conversion rate, rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions in Chinarestrictions. The Participant acknowledges and agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the shares of Common Stock are sold and the net proceeds are converted into local currency and distributed to the Participant’s Award is vested, exercised or settled, the proceeds are delivered to the special exchange control account and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company or its Subsidiaries in China in the future in order to facilitate compliance with exchange control requirements in China. The Participant acknowledges and agrees that the processes and requirements set forth herein shall continue to apply following the Participant’s termination.
Appears in 2 contracts
Sources: Performance Share Unit Award Agreement (Tenneco Inc), Restricted Stock Unit Award Agreement (Tenneco Inc)
Exchange Control Restrictions. By accepting the Award, the Participant understands and agrees that, due to exchange control laws in China, the Participant is not permitted to transfer any Shares acquired under the Plan out of the Participant’s account established with the Designated Broker, and that the Participant will be required to immediately repatriate all proceeds from due to the Participant’s Participants as a result of his or her participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement of acquired under the Award Plan to China. The Participant further understands that, under local law, that such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, or another an Affiliate in China, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan may be Omnibus Equity Incentive Plan - RSU Agreement - 14 Rev. June 2025 transferred to such special account prior to being delivered to the ParticipantParticipant in China. Proceeds The proceeds may be paid in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant he or she may be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, and that it may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges and agrees that the Participant he or she bears the risk of any currency conversion rate fluctuation in the U.S. dollar exchange rate between the dates date that the Participant’s Award is vested, exercised or settled, the proceeds Shares are delivered to the special exchange control account sold and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Restricted Stock Unit Agreement (Cadence Design Systems Inc)
Exchange Control Restrictions. By accepting the Award, the Participant The Employee understands and agrees that, due if the Employee is subject to exchange control laws in China, the Participant Employee will be required to repatriate immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement any shares of Common Stock acquired under the Award to ChinaPlan. The Participant Employee further understands that, under local law, that such repatriation of the cash sale proceeds will need to must be effected through a special exchange control bank account established by the Company, the Employer, or another Affiliate Company with a financial institution in China, China and the Participant Employee hereby consents and agrees that the proceeds resulting from the Participant’s participation in sale of shares of Common Stock acquired under the Plan may be transferred to such special account by the Company on the Employee’s behalf prior to being delivered to the ParticipantEmployee and that no interest shall be paid with respect to funds held in such account. Proceeds Sale proceeds may be paid to the Employee in U.S. dollars or local currency at the Company’s discretion. If the sale proceeds are paid to the Employee in U.S. dollars, the Participant Employee understands that the Participant may be required to set up Employee must establish and maintain a U.S. dollar bank account in China so that the proceeds may be deposited into this such account. If the sale proceeds are converted paid to the Employee in local currency, the Participant Employee acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any currency particular exchange conversion rate, rate and that the Company may face delays in converting the sale proceeds to local currency due to exchange control restrictions in Chinarestrictions. The Participant acknowledges and Employee agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the Participant’s Award is vested, exercised or settled, shares of Common Stock are sold and the net proceeds are delivered converted into local currency and distributed to the special exchange control account and the date of conversion of the proceeds to local currencyEmployee. The Participant Employee further agrees to RSU | Revised February 2021 - A-9 - comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Restricted Stock Unit Award Agreement (Hillenbrand, Inc.)
Exchange Control Restrictions. By accepting the Award, the Participant The Awardee understands and agrees that, due to exchange control laws in China, that the Participant Awardee will be required to immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of any Shares issued upon vesting, exercise or settlement of acquired under the Award to ChinaPlan. The Participant Awardee further understands that, under local law, that such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, Company or another Affiliate in Chinaa Subsidiary or Affiliate, and the Participant Awardee hereby consents and agrees that the proceeds resulting from the Participant’s participation in sale of Shares acquired under the Plan may be transferred to such special account by the Company (or the External Administrator) on the Awardee's behalf prior to being delivered to the ParticipantAwardee. Proceeds The Awardee also agrees to sign any agreements, forms and/or consents that may be reasonably requested by the Company (or the External Administrator) to effectuate such transfers. The proceeds may be paid to the Awardee in U.S. dollars or local currency at the Company’s 's discretion. If the proceeds are paid to the Awardee in U.S. dollars, the Participant Awardee understands that the Participant may he or she will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted paid to the Awardee in local currency, (a) the Participant Awardee acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges restrictions, and (b) the Awardee agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the Participant’s Award is vested, exercised or settled, Shares are sold and the time the proceeds are delivered converted to local currency and distributed to the special exchange control account and the date of conversion of the proceeds to local currencyAwardee. The Participant further Awardee agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Global Stock Option Award Agreement (Keysight Technologies, Inc.)
Exchange Control Restrictions. By accepting Participant understands and agrees that Participant’s participation in the AwardPlan and the vesting of Stock Units under the Plan is subject to the continued registration and compliance of the Plan with applicable exchange control regulations in China. Participant agrees that if the registration of the Plan lapses or the Company determines, in its discretion, that the Stock Units cannot vest due to regulatory restrictions, Participant’s participation in the Plan may be suspended, terminated or otherwise modified to ensure compliance with applicable laws and regulations. Participant understands and agrees that, due pursuant to local exchange control laws in Chinarequirements, the Participant will be required to immediately repatriate all proceeds from the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement and the receipt of the Award any dividends to China. The Participant further understands that, under local lawapplicable laws, such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, Employer or another Affiliate in Chinaany other Parent or Subsidiary, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in sale of Shares and the Plan may receipt of any dividends will be transferred to such special account prior to being delivered to Participant. Participant also understands that the ParticipantCompany will deliver the proceeds to Participant as soon as possible, but there may be delays in distributing the funds to Participant due to exchange control requirements in China. Proceeds may be paid to Participant in U.S. dollars or local currency currency, at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant may will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are under no obligation to secure any currency conversion rate, and may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges and agrees that the Participant bears the risk of any fluctuation in the U.S. dollar exchange rate between the dates that the Participant’s Award is vested, exercised or settled, the proceeds are delivered to the special exchange control account and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Exchange Control Restrictions. By accepting the Award, the The Participant understands and agrees that, due to exchange control laws in China, that the Participant will be required to immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of any Shares issued upon vesting, exercise or settlement of acquired under the Award to ChinaPlan and any cash dividends paid on such Shares. The Participant further understands that, under local law, that such repatriation of the cash proceeds will may need to be effected through a special exchange control bank account established by the Company, the Employer, Company (or another Affiliate in Chinaa Subsidiary), and the Participant hereby consents and agrees that the any sale proceeds resulting from the Participant’s participation in the Plan and cash dividends may be transferred to such special account by the Company (or a Subsidiary) on the Participant’s behalf prior to being delivered to the ParticipantParticipant and that no interest shall be paid with respect to funds held in such account. Proceeds The proceeds may be paid to the Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Participant understands that the Participant may be required to set up a U.S. dollar bank account in China must be established and maintained so that the proceeds may be deposited into this such account. If the proceeds are converted paid to the Participant in local currency, the Participant acknowledges that the Company, the Employer Company (or any other Affiliate in China its Subsidiaries) are under no obligation to secure any currency particular exchange conversion rate, rate and that the Company (or its Subsidiaries) may face delays in converting the proceeds to local currency due to exchange control restrictions in Chinarestrictions. The Participant acknowledges and agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the Shares are sold and the net proceeds are converted into local currency and distributed to the Participant’s Award is vested, exercised or settled, the proceeds are delivered to the special exchange control account and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Restricted Share Unit Award Agreement (Howmet Aerospace Inc.)
Exchange Control Restrictions. By accepting the Award, the The Participant understands and agrees that, due to exchange control laws in China, the Participant that he or she will be required to immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise any share of Common Stock acquired under the Plan or settlement of the Award to Chinafrom any cash dividend paid on such share. The Participant further understands that, under local law, that such repatriation of the cash proceeds will may need to be effected through a special exchange control account established by the Company, the Employer, Company or another any Affiliate in Chinaor Subsidiary, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan may be transferred to such special account by the Company (or its designated broker) on the Participant’s behalf prior to being delivered to the Participant. Proceeds The Participant also acknowledges and understands that there may be a delay between the date the shares of Common Stock are sold and the date the cash proceeds are distributed to the Participant. The Participant also agrees to sign any agreement, form and/or consent that may be reasonably requested by the Company (or the Company’s designated broker) to effectuate such transfers. The proceeds may be paid to the Participant in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Participant in U.S. dollars, the Participant understands that the Participant may he or she will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted paid to the Participant in local currency, (i) the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any currency particular exchange conversion rate, rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions in Chinarestrictions, and (ii) the Participant agrees to bear any currency fluctuation risk between the time the shares of Common Stock are sold or dividends are paid and the time the proceeds are converted to local currency and distributed to the Participant. The Participant acknowledges and agrees that the Participant bears the risk of any fluctuation in the U.S. dollar exchange rate between the dates that the Participant’s Award is vested, exercised or settled, the proceeds are delivered to the special exchange control account and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements requirement that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Exchange Control Restrictions. By accepting the Award, the Participant The Awardee understands and agrees that, due to exchange control laws in China, that the Participant Awardee will be required to immediately repatriate all proceeds from to China the Participant’s participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of any Shares issued upon vesting, exercise or settlement of acquired under the Award to ChinaPlan. The Participant Awardee further understands that, under local law, that such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, Company or another Affiliate in Chinaa Subsidiary or Affiliate, and the Participant Awardee hereby consents and agrees that the proceeds resulting from the Participant’s participation in sale of Shares acquired under the Plan may be transferred to such special account by the Company (or the External Administrator) on the Awardee’s behalf prior to being delivered to the ParticipantAwardee. Proceeds The Awardee also agrees to sign any agreements, forms and/or consents that may be reasonably requested by the Company (or the External Administrator) to effectuate such transfers. The proceeds may be paid to the Awardee in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to the Awardee in U.S. dollars, the Participant Awardee understands that the Participant may he or she will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted paid to the Awardee in local currency, (a) the Participant Awardee acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, rate and that the Company may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges restrictions, and (b) the Awardee agrees that the Participant bears the to bear any currency fluctuation risk of any fluctuation in the U.S. dollar exchange rate between the dates that time the Participant’s Award is vested, exercised or settled, Shares are sold and the time the proceeds are delivered converted to local currency and distributed to the special exchange control account and the date of conversion of the proceeds to local currencyAwardee. The Participant further Awardee agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Global Stock Option Award Agreement (Keysight Technologies, Inc.)
Exchange Control Restrictions. By accepting the Award, the Participant understands and agrees that, due to exchange control laws in China, the Participant is not permitted to transfer any Shares acquired under the Plan out of the Participant’s account established with the Designated Broker, and that the Participant will be required to immediately repatriate all proceeds from due to the Participant’s Participants as a result of his or her participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement of acquired under the Award Plan to China. The Participant further understands that, under local law, that such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, or another an Omnibus Equity Incentive Plan - ISA Agreement - 15 Rev June 2025 Affiliate in China, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan may be transferred to such special account prior to being delivered to the ParticipantParticipant in China. Proceeds The proceeds may be paid in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant he or she may be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, and that it may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges and agrees that the Participant he or she bears the risk of any currency conversion rate fluctuation in the U.S. dollar exchange rate between the dates date that the Participant’s Award is vested, exercised or settled, the proceeds Shares are delivered to the special exchange control account sold and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Incentive Stock Award Agreement (Cadence Design Systems Inc)
Exchange Control Restrictions. By accepting the Award, the Participant understands and agrees that, due to exchange control laws in China, the Participant is not permitted to transfer any Shares acquired under the Plan out of the Participant’s account established with the Designated ▇▇▇▇▇▇, and that the Participant will be required to immediately repatriate all proceeds from due to the Participant’s Omnibus Equity Incentive Plan - ISA Agreement - 13 Rev. Jun. 2022 Participants as a result of his or her participation in the Plan, including any cash proceeds paid in settlement of the Award or proceeds from the sale of Shares issued upon vesting, exercise or settlement of acquired under the Award Plan to China. The Participant further understands that, under local law, that such repatriation of the cash proceeds will need to be effected through a special exchange control account established by the Company, the Employer, or another an Affiliate in China, and the Participant hereby consents and agrees that the proceeds resulting from the Participant’s participation in the Plan may be transferred to such special account prior to being delivered to the ParticipantParticipant in China. Proceeds The proceeds may be paid in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid in U.S. dollars, the Participant understands that the Participant he or she may be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, the Participant acknowledges that the Company, the Employer or any other Affiliate in China are Company is under no obligation to secure any particular currency conversion rate, and that it may face delays in converting the proceeds to local currency due to exchange control restrictions in China. The Participant acknowledges and agrees that the Participant he or she bears the risk of any currency conversion rate fluctuation in the U.S. dollar exchange rate between the dates date that the Participant’s Award is vested, exercised or settled, the proceeds Shares are delivered to the special exchange control account sold and the date of conversion of the proceeds to local currency. The Participant further agrees to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.
Appears in 1 contract
Sources: Incentive Stock Award Agreement (Cadence Design Systems Inc)