Settlement in Cash Only Clause Samples

Settlement in Cash Only. Notwithstanding any discretion in the Plan or anything to the contrary in the Award Agreement, the RSUs do not provide any right for the Participant to receive Shares. The Participant shall receive only a cash payment in an amount equal to the value of the Shares on the vesting date based on the number of Shares determined under the Award Agreement (less any Tax-Related Items).

Settlement in Cash Only. The following provision applies to the Participant to the extent that the Company, in its discretion, determines that the Participant's participation in the Plan will be subject to exchange control restrictions in the People’s Republic of China (“PRC”), as implemented by the PRC State Administration of Foreign Exchange (“SAFE”): Notwithstanding any discretion in the Plan or anything to the contrary in the Award Agreement, the RSUs do not provide any right for the Participant to receive Shares. The Participant shall receive only a cash payment in an amount equal to the value of the Shares on the Settlement Date based on the number of Shares determined under the Award Agreement (less any Tax-Related Items). Cash payments made to the Participant pursuant to the Award Agreement will be made to the Participant through the payroll of the Employer in China. In no event shall any payments to be made to the Participant pursuant to the Award Agreement be made into an account outside of China. Further, in no event shall any funds be transferred to China from outside China specifically to satisfy any payments made to the Participant pursuant to the Award Agreement. The Company reserves the right to make any necessary adjustments to the RSU Award and to require the Participant to sign any additional agreements or undertakings that may be necessary to effectuate this provision. Any provisions in this Award Agreement referring to the issuance of Shares pursuant to vested RSUs shall not be applicable to the Participant, and the Participant may not receive or hold Shares in connection with the RSUs granted under the Plan, so long as the Participant is subject to exchange control restrictions in China. The Participant acknowledges that, even though the Participant receives only a cash payment upon settlement of the RSUs, he or she may still be subject to certain exchange control requirements under local laws. The Participant should consult with his or her legal advisor to ensure compliance with any exchange control obligations arising from the Participant’s participation in the Plan.

Settlement in Cash Only. Notwithstanding anything to the contrary in the Plan and the Award Agreement, due to local regulatory requirements, Participant shall receive only a cash payment in an amount equal to the value of the Shares on the vesting date based on the number of Shares determined under the Award Agreement (less any Tax-Related Items and brokerage fees or commissions). Cash payments made to Participant pursuant to the Award Agreement will be made to Participant through the payroll of the Employer in China. In no event shall any payments to be made to Participant pursuant to this Award Agreement be made into an account outside of China. Further, in no event shall any funds be transferred to China from outside China specifically to satisfy any payments made to Participant pursuant to the Award Agreement. The Company reserves the right to make any necessary adjustments to the Restricted Stock Units and to require Participant to sign any additional agreements or undertakings that may be necessary to effectuate this provision. Any provisions in the Award Agreement referring to the issuance of Shares pursuant to vested Restricted Stock Units shall not be applicable to Participant so long as Participant is a resident of China. So long as Participant is a resident of China, Participant may not receive or hold Shares in connection with the Restricted Stock Units granted under the Plan. Participant acknowledges that, even though Participant receives only a cash payment upon settlement of the Restricted Stock Units, he or she may still be subject to certain exchange control requirements under local laws. Participant is advised to consult with his or her legal advisor to ensure compliance with any exchange control obligations arising from Participant’s participation in the Plan.

Settlement in Cash Only. Notwithstanding anything in the Award Agreement to the contrary, when the PSUs vest, the value of such PSUs (subject to Sections 7 and 21(b) of the Award Agreement) will be paid to you in cash by your employer and not by MSCI. Further, notwithstanding anything in Section 3 of the Award Agreement to the contrary, any dividend equivalents paid to you shall be paid in cash (and not in Shares). You shall not be entitled to receive and/or hold Shares under the Plan.

Settlement in Cash Only. Notwithstanding anything in the Award Agreement to the contrary, when the RSUs vest, the value of such RSUs (subject to Sections 7 and 21(b) of the Award Agreement below) will be paid to you in cash by your employer and not by MSCI. Further, notwithstanding anything in Section 3 of the Award Agreement to the contrary, any dividend equivalents paid to you shall be paid in cash (and not in Shares). You shall not be entitled to receive and/or hold Shares under the Plan.