Common use of Payment of Par Value Clause in Contracts

Payment of Par Value. Swiss law and the Company’s Articles of Association require that par value be paid in cash to the Company for any Shares issued in settlement of your Restricted Stock Unit Award if the Company does not have treasury shares available on the date of delivery of such Shares. However, if such cash payment is required, your employer has arranged with the Company to make the payment on your behalf as part of your award. Accordingly, you yourself will not have to make any such payment.

Payment of Par Value. Swiss law and the Company’s Articles of Association require that par value be paid in cash to the Company for any Shares issued in settlement of your Restricted Stock Unit Award if the Company does not have treasury shares available on the date of delivery of such Shares. However, if such cash payment is required, your employer the Company has arranged with the Company to make have the payment made on your behalf as part of your award. Accordingly, you yourself will not have to make any such payment.

Payment of Par Value. Swiss law and the Company’s 's Articles of Association require that par value be paid in cash to the Company for any Shares issued in settlement of your Restricted Stock Unit Award if the Company does not have treasury shares available on the date of delivery of such Shares. However, if such cash payment is required, your employer has arranged with the Company to make the payment on your behalf as part of your award. Accordingly, you yourself will not have to make any such payment.