South Africa. Tax Acknowledgment By accepting the Award, the Employee agrees to notify the Employer of the amount of any gain realized upon vesting of the Award. If the Employee fails to advise the Employer of the gain realized upon vesting, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting the Award, the Employee Participant agrees to notify the Employer of the amount of any gain realized upon vesting of the Award. If the Employee Participant fails to advise the Employer of the gain realized upon vesting, the Employee Participant may be liable for a fine. The Employee Participant will be responsible for paying any difference between the actual tax liability and the amount withheld. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee Participant acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee Participant understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee Participant understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable. In addition, the Employee Participant understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee Participant understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting the Award, the Employee agrees to notify the Employer of the amount of any gain realized upon vesting of the Award. If the Employee fails to advise the Employer of the gain realized upon vesting, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void.. UNITED KINGDOM
Appears in 1 contract
South Africa. Tax Acknowledgment Responsibility for Taxes. This provision supplements Section 8 of the Award Agreement: By accepting the grant of the Award, Participant agrees that, immediately upon vesting and settlement of the Employee agrees to Units, Participant will notify the Employer of the amount of any gain realized upon vesting of the Awardrealized. If the Employee Participant fails to advise the Employer of the gain realized upon vestingvesting and settlement, the Employee Participant may be liable for a fine. The Employee Participant will be solely responsible for paying any difference between the actual tax liability and the amount withheldwithheld by the Employer. SOUTH KOREA There are no country-specific provisions. SPAIN Labor Law Acknowledgment No Special Employment or Similar Rights. This provision supplements Sections 11 and 12 of the Award Agreement: By accepting the grant of the Award, the Employee acknowledges that he or she understands and agrees Participant consents to participation in the Plan and acknowledges that he or she has received a copy of the Plan. The Employee Participant understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally discretionarily decided to grant Awards Units under the Plan to individuals who may be employees of the Corporation Company or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basisAffiliate, other than to the extent set forth in the Award Agreement. Consequently, the Employee Participant understands that any grant is given the Units are granted on the assumption and condition that it shall the Units and any Shares acquired upon vesting of the Units are not become a part of any employment contract (either with the Corporation Company or any of its AffiliatesAffiliate) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) ), or any other right whatsoever. Further, the Employee Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of that, other than as may be expressly set forth under the Award and Agreement, Participant will not be entitled to continue vesting in any Units once Participant’s employment with the underlying shares is unknown and unpredictableCompany or any of its Affiliates ceases. In addition, the Employee Participant understands that this grant Award would not be made granted but for the assumptions and conditions referred to above; thus, the Employee understands, Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of or right to the Award Units shall be null and void.. The Award is a conditional right to Shares and may be forfeited or affected by Participant’s termination of employment, as set forth in the Award Agreement. If Participant’s employment or service with the
Appears in 1 contract
Samples: Restricted Stock Unit Global Award Agreement (Motorola Mobility Holdings, Inc)
South Africa. Tax Acknowledgment By accepting the Awardthis Option, the Employee agrees to notify the Employer of the amount of any gain realized upon vesting exercise of the Awardthis Option. If the Employee fails to advise the Employer of the gain realized upon vestingexercise, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather then a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting the Awardthis Option, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards Options under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award this Option and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award this Option shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting Terms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the AwardPlan, Grantee understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees “Exchange Control Regulations”) in South Africa. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to notify the purchase or sale of shares under the Plan to ensure compliance with current regulations. Grantee understands that it is Grantee’s responsibility to comply with South African exchange control laws, and neither the Company nor your Employer of the amount of any gain realized upon vesting of the Award. If the Employee fails to advise the Employer of the gain realized upon vesting, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheldfines or penalties resulting from failure to comply with applicable laws. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Grantee understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Awards distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s option grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award awards and the underlying shares is unknown and unpredictable. In addition, the Employee Grantee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. - 7 - Further, the Option provides a conditional right to Shares and may be forfeited or affected by Grantee’s termination of employment, as set forth in the Agreement. For avoidance of doubt, Grantee’s rights, if any, to the Options upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other employment or contractual condition; or (iv) Grantee terminates service due to the Company’s or any of its subsidiaries’ unilateral breach of contract.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting the Award, the Employee Participant agrees to notify the Employer of the amount of any gain realized upon vesting of the Award. If the Employee Participant fails to advise the Employer of the gain realized upon vesting, the Employee Participant may be liable for a fine. The Employee Participant will be responsible for paying any difference between the actual tax liability and the amount withheld. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee Participant acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee Participant understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee Participant understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable. In addition, the Employee Participant understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee Participant understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Participant to the Employer, effective on the Due Date. The Participant agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Participant is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Participant. In the event that the Participant is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Participant by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Participant on which additional income tax and National Insurance Contributions may be payable. The Participant acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Participant authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting the Awardthis Option, the Employee agrees to notify the Employer of the amount of any gain realized upon vesting exercise of the Awardthis Option. If the Employee fails to advise the Employer of the gain realized upon vestingexercise, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. If the Employee uses cash to exercise this Option and purchase shares, rather than a cashless exercise method, the Employee must first obtain a “Tax Clearance Certificate (in Respect of Foreign Investment)” from the South African Reserve Service. The Employee must also complete a transfer of funds application form to transfer the funds. The Tax Clearance Certificate should be presented to a dealer of the Exchange Control Department of the South Africa Reserve Bank (it is likely that the Employee’s bank will qualify as such a dealer), together with a completed application form to transfer funds. No transfer of funds may be completed unless the original Tax Clearance Certificate bears the official stamp and signature of the Office of Receiver of Revenue of the South African Reserve Service. SPAIN Labor Law Acknowledgment By accepting the Awardthis Option, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards Options under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award this Option and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award this Option shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment By accepting the Award, the Employee agrees to notify the Employer of the amount of any gain realized upon vesting of the Award. If the Employee fails to advise the Employer of the gain realized upon vesting, the Employee may be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheld. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan. The Employee understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis. Consequently, the Employee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Employee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable. In addition, the Employee understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void. UNITED KINGDOM Tax Acknowledgment The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement: If payment or withholding of the income tax due is not made within 90 days of the event giving rise to the Tax-Related Items or such other period specified in section 222(1)(c) of the U.K. Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (the “Due Date”), the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Employee to the Employer, effective on the Due Date. The Employee agrees that the loan will bear interest at the then-current Her Majesty’s Revenue and Customs (“HMRC”) official rate; it will be immediately due and repayable. Notwithstanding the foregoing, if the Employee is an officer or executive director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of this provision will not apply to the Employee. In the event that the Employee is an officer or director, as defined above, and Tax-Related Items are not collected from or paid by the Employee by the Due Date, the amount of any uncollected Tax-Related Items may constitute a benefit to the Employee on which additional income tax and National Insurance Contributions may be payable. The Employee acknowledges the Corporation or the Employer may recover it at any time thereafter by any of the means referred to in the Award Agreement. The Employee authorizes the Corporation to withhold the transfer of any shares unless and until the loan is repaid in full.
Appears in 1 contract
South Africa. Tax Acknowledgment Responsibility for Taxes. This provision supplements Section 8 of the Award Agreement: By accepting the grant of the Award, Participant agrees that, immediately upon vesting and settlement of the Employee agrees to Units, Participant will notify the Employer of the amount of any gain realized upon vesting of the Awardrealized. If the Employee Participant fails to advise the Employer of the gain realized upon vestingvesting and settlement, the Employee Participant may be liable for a fine. The Employee Participant will be solely responsible for paying any difference between the actual tax liability and the amount withheldwithheld by the Employer. SOUTH KOREA There are no country-specific provisions. SPAIN Labor Law Acknowledgment No Special Employment or Similar Rights. This provision supplements Sections 11 and 12 of the Award Agreement: By accepting the grant of the Award, the Employee acknowledges that he or she understands and agrees Participant consents to participation in the Plan and acknowledges that he or she has received a copy of the Plan. The Employee Participant understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally discretionarily decided to grant Awards Units under the Plan to individuals who may be employees of the Corporation Company or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basisAffiliate, other than to the extent set forth in the Award Agreement. Consequently, the Employee Participant understands that any grant is given the Units are granted on the assumption and condition that it shall the Units and any Shares acquired upon vesting of the Units are not become a part of any employment contract (either with the Corporation Company or any of its AffiliatesAffiliate) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) ), or any other right whatsoever. Further, the Employee Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of that, other than as may be expressly set forth under the Award and Agreement, Participant will not be entitled to continue vesting in any Units once Participant’s employment with the underlying shares is unknown and unpredictableCompany or any of its Affiliates ceases. In addition, the Employee Participant understands that this grant Award would not be made granted but for the assumptions and conditions referred to above; thus, the Employee understands, Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of or right to the Award Units shall be null and void. The Award is a conditional right to Shares and may be forfeited or affected by Participant’s termination of employment, as set forth in the Award Agreement. If Participant’s employment or service with the Company or an Affiliate terminates for any reason other than those reasons expressly set forth in Sections 3(a) through (e) of the Award Agreement, including, without limitation, where (a) Participant is deemed to have been unfairly dismissed without good cause; (b) Participant terminates employment or service due to a change of work location, duties or any other employment or contractual condition; or (c) Participant terminates employment or service due to the Company’s or any of its Affiliates’ unilateral breach of contract, Participant’s unvested Units shall be automatically forfeited upon termination of Participant’s employment or service. The Company will not be obligated to pay Participant any consideration whatsoever for such forfeited Units.
Appears in 1 contract
Samples: Restricted Stock Unit Global Award Agreement (Motorola Mobility Holdings, Inc)
South Africa. Tax Acknowledgment By accepting Terms and Conditions There are no country-specific provisions. Notifications Exchange Control Information. To participate in the AwardPlan, Xxxxxxx understands that Grantee must comply with exchange control regulations and rulings (the Employee agrees “Exchange Control Regulations”) in South Africa. Because the Exchange Control Regulations change frequently and without notice, Grantee understands that Grantee should consult a legal advisor prior to notify the purchase or sale of shares under the Plan to ensure compliance with current regulations. Xxxxxxx understands that it is Xxxxxxx’s responsibility to comply with South African exchange control laws, and neither the Company nor your Employer of the amount of any gain realized upon vesting of the Award. If the Employee fails to advise the Employer of the gain realized upon vesting, the Employee may will be liable for a fine. The Employee will be responsible for paying any difference between the actual tax liability and the amount withheldfines or penalties resulting from failure to comply with applicable laws. SPAIN Labor Law Acknowledgment By accepting the Award, the Employee acknowledges that he Terms and Conditions There are no country-specific provisions. Notifications No Special Employment or she understands and agrees to participation in the Plan and that he or she has received a copy of the PlanSimilar Rights. The Employee Xxxxxxx understands that the Corporation Company has unilaterally, gratuitously gratuitously, and discretionally decided to grant Awards distribute awards under the Plan to individuals who may be employees of the Corporation Company or its Affiliates subsidiaries throughout the world. The decision is a limited temporary decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation Company or any of its Affiliates on an ongoing basissubsidiaries presently or in the future, other than as specifically set forth in the Plan and the terms and conditions of Grantee’s option grant. Consequently, the Employee Grantee understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation Company or any of its Affiliatessubsidiaries) and shall not be considered a mandatory benefit, salary for any purposes purpose (including severance compensation) or any other right whatsoever. Further, the Employee Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award awards and the underlying shares is unknown and unpredictable. In addition, the Employee Xxxxxxx understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Employee understands, Grantee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award any grant of awards shall be null and voidvoid and the Plan shall not have any effect whatsoever. - 7 - Further, the Option provides a conditional right to Shares and may be forfeited or affected by Grantee’s termination of employment, as set forth in the Agreement. For avoidance of doubt, Xxxxxxx’s rights, if any, to the Options upon termination of employment shall be determined as set forth in the Agreement, including, without limitation, where (i) Grantee is considered to be unfairly dismissed without good cause; (ii) Grantee is dismissed for disciplinary or objective reasons or due to a collective dismissal; (iii) Grantee terminates service due to a change of work location, duties or any other employment or contractual condition; or (iv) Grantee terminates service due to the Company’s or any of its subsidiaries’ unilateral breach of contract.
Appears in 1 contract
