Common use of Joint Election Clause in Contracts

Joint Election. As a condition of Grantee’s participation in the Plan and the vesting of the Restricted Stock Units, Grantee agrees to accept any liability for secondary Class 1 national insurance contributions which may be payable by the Company and/or the Employer in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s Liability”). To accomplish the foregoing, Grantee agrees to execute the following joint election with the Company, the form of such Joint Election being formally approved by HMRC (the “Joint Election”), and any other required consent or elections. Grantee further agrees to execute such other joint elections as may be required between Grantee and any successor to the Company and/or the Employer. Grantee further agrees that the Company and/or the Employer may collect the Employer’s Liability from Grantee by any of the means set forth in Section 6 of the Agreement. If Grantee does not enter into the Joint Election prior to the vesting of the Restricted Stock Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to the Company at no cost to the Company, without any liability to the Company and/or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARY

Appears in 2 contracts

Samples: Terms and Conditions (Emulex Corp /De/), Terms and Conditions (Emulex Corp /De/)

AutoNDA by SimpleDocs

Joint Election. As a condition of GranteeAwardee’s participation in the Plan and the vesting of the Restricted Stock UnitsPlan, Grantee Awardee agrees to accept any liability for secondary Class 1 national insurance contributions NICs which may be payable by the Company and/or the Employer in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s LiabilityNICs”). To accomplish Without limitation to the foregoing, Grantee Awardee agrees to execute the following enter into a joint election with the CompanyCompany and/or the Employer (the “Joint Election”), the form of such Joint Election being formally approved by HMRC (the “Joint Election”)HMRC, and to execute any other consents or elections required consent or electionsto accomplish the transfer of the Employer’s NICs to Awardee. Grantee Awardee further agrees to execute such other joint elections as may be required between Grantee Awardee and any successor to the Company and/or the Employer. Grantee Awardee further agrees that the Company and/or the Employer may collect the Employer’s Liability NICs from Grantee him or her by any of the means set forth in Section 6 the “Tax Withholding” section of the Award Agreement. If Grantee Awardee does not enter into a Joint Election, if approval of the Joint Election prior has been withdrawn by HMRC, if the Joint Election is revoked by the Company or the Employer (as applicable), or if the Joint Election is jointly revoked by Awardee and the Company or the Employer, as applicable, the Company, in its sole discretion and without any liability to the Company or the Employer, may choose not to issue or deliver any shares of Stock or proceeds from the sale of shares to Awardee upon vesting of the Restricted Stock Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to the Company at no cost to the Company, without any liability to the Company and/or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARY* * * * *

Appears in 2 contracts

Samples: Global Restricted Stock Unit Agreement (Citrix Systems Inc), Global Restricted Stock Unit Agreement (Citrix Systems Inc)

Joint Election. As a condition of Grantee’s participation in the Plan and the vesting of the Restricted Stock Units, Grantee agrees you agree to accept any liability for secondary Class 1 national insurance contributions NICs which may be payable by the Company and/or the Employer in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s LiabilityEmployer NICs”). To accomplish Without prejudice to the foregoing, Grantee agrees you agree to execute the following a joint election with the Company, the form of such Joint Election being joint election having been approved formally approved by HMRC Her Majesty’s Revenue and Customs (“HMRC”) (the “Joint Election”), and any other required consent or electionselection to accomplish the transfer of Employer NICs to you. Grantee You further agrees agree to execute such other joint elections as may be required between Grantee you and any successor to the Company and/or or the Employer. Grantee You further agrees agree that the Company and/or or the Employer may collect the Employer’s Liability Employer NICs from Grantee you by any of the means set forth in Section 6 the “Tax Obligations” section of the Award Agreement. If Grantee does you do not enter into the a Joint Election prior to the vesting of the Restricted Stock UnitsUnits or any other event giving rise to Tax-Related Items or if approval of the joint election has been withdrawn by HMRC, Grantee you will forfeit not be entitled to vest in the Restricted Stock Units or receive any benefit in connection with the Restricted Stock Units unless and any shares of Common Stock that have been issued until you enter into a Joint Election, and no Shares will be returned issued or delivered to you under the Company at no cost to the CompanyPlan, without any liability to the Company and/or or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARY.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Trimble Navigation LTD /Ca/)

Joint Election. As a condition of Grantee’s participation in the Plan and the vesting of the Restricted Stock Units, Grantee agrees to accept any liability for secondary Class 1 national insurance contributions which may be payable by the Company and/or and the Employer in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s Liability”). To accomplish the foregoing, Grantee agrees to execute the following joint election with the Company, the form of such Joint Election being formally approved by HMRC (the “Joint Election”), and any other required consent or elections. Grantee further agrees to execute such other joint elections as may be required between Grantee and any successor to the Company and/or or the Employer. Grantee further agrees that the Company and/or and the Employer may collect the Employer’s Liability from Grantee by any of the means set forth in Section 6 of the Agreement. If Grantee does not enter into the Joint Election prior to the vesting of the Restricted Stock Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to the Company at no cost to the Company, without any liability to the Company and/or and the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARYKingdom

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Emulex Corp /De/)

Joint Election. As a condition of Grantee’s participation in the Plan and the vesting of the Restricted Stock Units, Grantee agrees to accept any liability for secondary Class 1 national insurance contributions which may be payable by the Company and/or the Employer in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s Liability”). To accomplish the foregoing, Grantee agrees to execute the following joint election with the Company, the form of such Joint Election being formally approved by HMRC (the “Joint Election”), and any other required consent or elections. Grantee further agrees to execute such other joint elections as may be required between Grantee and any successor to the Company and/or the Employer. Grantee further agrees that the Company and/or the Employer may collect the Employer’s Liability from Grantee by any of the means set forth in Section 6 of the Agreement. If Grantee does not enter into the Joint Election prior to the vesting of the Restricted Stock Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to the Company at no cost to the Company, without any liability to the Company and/or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARYKingdom

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Emulex Corp /De/)

Joint Election. The Company reserves the right to transfer Secondary Class 1 NICs to Participant. As a condition of Grantee’s participation participating in the Plan Plan, Participant acknowledges and agrees that Participant may be liable for the vesting of the Restricted Stock Units, Grantee agrees to accept any liability for secondary Secondary Class 1 national insurance contributions NICs which may be payable by the Company and/or or the Employer (or by any successor to the Company or the Employer) with respect to the acquisition of Shares pursuant to the Stock Units, the assignment or release of the Stock Units for consideration, or the receipt of any other benefit in connection with the Restricted Stock Units and that liability for the Secondary Class 1 NICs payments may be transferred to Participant to the fullest extent permitted by law. If the Company chooses to transfer the Secondary Class 1 NICs, and without limitation to the above, Participant agrees to make an election, in the form specified and/or approved for such election by HMRC, that the liability for the Secondary Class 1 NICs payments on any event giving rise such gains shall be transferred to Tax-Related Items Participant (the “Employer’s LiabilityElection”). To accomplish the foregoing, Grantee agrees to execute the following joint election with the Company, the form of such Joint Election being formally approved by HMRC (the “Joint Election”), and any other required consent or elections. Grantee Participant further agrees to execute such other joint elections as may be required between Grantee Participant and any successor to the Company and/or the Employer. Grantee further agrees that Participant hereby authorizes the Company and/or and the Employer may collect the Employer’s Liability from Grantee to withhold such Secondary Class 1 NICs by any of the means set forth in Section 6 7 of the AgreementAgreement if and when such Secondary Class 1 NICs are transferred to Participant. If Grantee Further, if the Company chooses to transfer the Secondary Class 1 NICs payments and Participant does not enter into make an Election, or the Joint Election prior to the vesting approval of the Restricted Stock UnitsElection is been withdrawn by HMRC, Grantee will forfeit or the Restricted Election is jointly revoked by Participant and the Company or the Employer, as applicable, then these Stock Units and any shares shall, at the discretion of Common Stock that have been issued will be returned to the Company at no cost to the Company, without any liability to the Company and/or or the Employer, cease vesting and become null and void. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARY* * * * *

Appears in 1 contract

Samples: Stock Unit Agreement (Marvell Technology Group LTD)

AutoNDA by SimpleDocs

Joint Election. As a condition of GranteeAwardee’s participation in the Plan and the vesting of the Restricted Stock UnitsPlan, Grantee Awardee agrees to accept any liability for secondary Class 1 national insurance contributions NICs which may be payable by the Company and/or the Employer in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s LiabilityNICs”). To accomplish Without limitation to the foregoing, Grantee Awardee agrees to execute the following enter into a joint election with the CompanyCompany and/or the Employer (the “Joint Election”), the form of such Joint Election being formally approved by HMRC (the “Joint Election”)HMRC, and to execute any other consents or elections required consent or electionsto accomplish the transfer of the Employer’s NICs to Awardee. Grantee Awardee further agrees to execute such other joint elections as may be required between Grantee Awardee and any successor to the Company and/or the Employer. Grantee Awardee further agrees that the Company and/or the Employer may collect the Employer’s Liability NICs from Grantee him or her by any of the means set forth in Section 6 the “Tax Withholding” section of the Award Agreement. If Grantee Awardee does not enter into a Joint Election, if approval of the Joint Election prior has been withdrawn by HMRC, if the Joint Election is revoked by the Company or the Employer (as applicable), or if the Joint Election is jointly revoked by Awardee and the Company or the Employer, as applicable, the Company, in its sole discretion and without any liability to the Company or the Employer, may choose not to issue or deliver any shares of Stock or proceeds from the sale of shares to Awardee upon vesting of the Restricted Stock Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to the Company at no cost to the Company, without any liability to the Company and/or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARY* * * * * 35

Appears in 1 contract

Samples: Restricted Stock Unit Agreement

Joint Election. As a condition of GranteeRecipient’s participation in the Plan and the vesting of the Restricted Stock UnitsPlan, Grantee Recipient agrees to accept any liability for secondary Class 1 national insurance contributions NICs which may be payable by the Company and/or the Employer in connection with the Restricted Stock Units award and any event giving rise to Tax-Related Items (the “Employer’s LiabilityNICs”). To accomplish Without limitation to the foregoing, Grantee Recipient agrees to execute the following enter into a joint election with the CompanyCompany and/or the Employer (the “Joint Election”), the form of such Joint Election being formally approved by HMRC (the “Joint Election”)HMRC, and to execute any other consents or elections required consent or electionsto accomplish the transfer of the Employer’s NICs to Recipient. Grantee Recipient further agrees to execute such other joint elections as may be required between Grantee Recipient and any successor to the Company and/or the Employer. Grantee Recipient further agrees that the Company and/or the Employer may collect the Employer’s Liability NICs from Grantee him or her by any of the means set forth in Section 6 the “Tax Withholding” section of the this Agreement. If Grantee Recipient does not enter into a Joint Election, if approval of the Joint Election prior to has been withdrawn by HMRC, if the vesting of the Restricted Stock Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to Joint Election is revoked by the Company at no cost to or the Employer (as applicable), or if the Joint Election is jointly revoked by Recipient and the Company or the Employer, as applicable, the Company, in its sole discretion and without any liability to the Company and/or or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN , may choose not to issue or deliver any shares of Stock or proceeds from the sale of shares to Recipient upon vesting of the Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARYaward. Schedule A

Appears in 1 contract

Samples: Restricted Stock Agreement (Conformis Inc)

Joint Election. As a condition of Grantee’s participation in the Plan and of the vesting of the Restricted Stock Units, Grantee agrees to accept any liability for secondary Class 1 national insurance contributions National Insurance Contributions which may be payable by the Company and/or the Employer in connection with respect to the Restricted Stock Units and any event giving rise to Tax-Related Items Chargeable Event (the Employer’s LiabilityEmployer NICs”). To accomplish Without limitation to the foregoing, Grantee agrees to execute the following a joint election with the CompanyCompany or the Employer, the form of such Joint Election joint election being formally approved by HMRC (the “Joint Election”), and any other required consent consents or electionselections as provided to Grantee by the Company or the Employer. Grantee further agrees to execute such other joint elections as may be required between Grantee and any successor to the Company and/or or the Employer. If Grantee does not enter into the NICs Joint Election, if approval of the NICs Joint election has been withdrawn by HMRC, if the NICs Joint Election is revoked by the Company or the Employer (as applicable), or if the NICs Joint Election is jointly revoked by Grantee and the Company or the Employer, as applicable, the Restricted Stock Units shall cease vesting and become null and void, and no Shares shall be acquired under the Plan, without any liability to the Company, the Employer and/or any Parent or Subsidiary. Grantee further agrees that the Company and/or the Employer may collect the Employer’s Liability from Grantee Employer NICs by any of the means set forth in Section 6 of the Agreement. If Grantee does not enter into the Joint Election prior to the vesting 9 of the Restricted Stock UnitsUnit Agreement, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have been issued will be returned to the Company at as supplemented above. UNITED STATES There are no cost to the Company, without any liability to the Company and/or the Employer. EMULEX CORPORATION AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN Restricted Stock Units for Employees in the United Kingdom FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARYcountry specific provisions.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Maxim Integrated Products Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.