Common use of Repatriation; Compliance with Laws Clause in Contracts

Repatriation; Compliance with Laws. The Employee agrees, as a condition of the grant of the Stock Units, to repatriate all payments attributable to the Stock Units and/or cash acquired under the Plan (including, but not limited to, dividends, dividend equivalents, and any proceeds derived from the sale of the Stock acquired pursuant to the Stock Units) in accordance with all foreign exchange rules and regulations applicable to the Employee. In addition, the Employee also agrees to take any and all actions, and consents to any and all actions taken by the Company and its subsidiaries and Affiliates, as may be required to allow the Company and its subsidiaries and Affiliates to comply with all applicable laws, rules and regulations. Finally, the Employee agrees to take any and all actions as may be required to comply with the Employee’s personal legal and tax obligations under all applicable laws, rules and regulations.

Appears in 13 contracts

Samples: 2023 Stock Incentive Plan Stock Unit Award Agreement (Borgwarner Inc), 2023 Stock Incentive Plan Stock Unit Award Agreement (Phinia Inc.), Incentive Plan Conversion Award (Phinia Inc.)

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Repatriation; Compliance with Laws. The Employee agrees, as a condition of the grant of the Stock Units, to repatriate all payments attributable to the Stock Units and/or cash acquired under the Plan (including, but not limited to, dividends, dividend equivalents, and any proceeds derived from the sale of the Stock acquired pursuant to the Stock Units) in accordance with all foreign exchange rules and regulations applicable to the Employee. In addition, the Employee also agrees to take any and all actions, and consents consent to any and all actions taken by the Company and its subsidiaries and Affiliates, as may be required to allow the Company and its subsidiaries and Affiliates to comply with all applicable laws, rules and regulationsregulations applicable to the Employee. Finally, the Employee agrees to take any and all actions as may be required to comply with the Employee’s 's personal legal and tax obligations under all applicable laws, rules and regulationsregulations applicable to the Employee.

Appears in 1 contract

Samples: 2004 Stock Incentive Plan (Borgwarner Inc)

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