A » Topics » DENMARK

This excerpt taken from the A 10-K filed Dec 21, 2009.

DENMARK

 

Additional Documents.  A copy of the Employer Statement has also been provided to the Awardee in addition to this Award Agreement.

 

Exchange Control and Tax Information.  Awardee may hold shares of Common Stock acquired under the Plan in a safety-deposit account (e.g., a brokerage account) with either a Danish bank or with an approved foreign broker or bank.  If the shares of Common Stock are held with a foreign broker or bank, the Awardee is required to inform the Danish Tax Administration about the safety-deposit account.  For this purpose, the Awardee must file a Form V (Erklaering V) with the Danish Tax Administration.  Both the Awardee and the External Administrator or bank must sign the Form V.  By signing the Form V, the broker or bank undertakes an obligation, without further request each year, to forward information to the Danish Tax Administration concerning the shares in the account.  By signing the Form V, the Awardee authorizes the Danish Tax Administration to examine the account.

 

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In addition, if the Awardee opens a brokerage account (or a deposit account with a U.S. bank), the brokerage account (or bank account, as applicable) will be treated as a deposit account because cash can be held in the account.  Therefore, the Awardee must also file a Form K (Erklaering K) with the Danish Tax Administration.  Both the Awardee and the External Administrator must sign the Form K.  By signing the Form K, the External Administrator undertakes an obligation, without further request each year, to forward information to the Danish Tax Administration concerning the content of the deposit account.  By signing the Form K, the Awardee authorizes the Danish Tax Administration to examine the account.

 

If the Awardee uses the cashless method of exercise, the Awardee is not required to file a Form V because the Awardee will not hold any shares of Common Stock.  However, if the Awardee opens a deposit account with a foreign broker or bank to hold the cash proceeds, the Awardee are required to file a Form K as described above.

 

This excerpt taken from the A 8-K filed Mar 25, 2009.

DENMARK

 

Additional Documents.  A copy of the Employer Statement has also been provided to the Awardee in addition to this Award Agreement.

 

Exchange Control and Tax Information.  Awardee may hold shares of Common Stock acquired under the Plan in a safety-deposit account (e.g., a brokerage account) with either a Danish bank or with an approved foreign broker or bank.  If the shares of Common Stock are held with a foreign broker or bank, the Awardee is required to inform the Danish Tax Administration about the safety-deposit account.  For this purpose, the Awardee must file a Form V (Erklaering V) with the Danish Tax Administration.  Both the Awardee and the External Administrator or bank must sign the Form V.  By signing the Form V, the broker or bank undertakes an obligation, without further request each year, to forward information to the Danish Tax Administration concerning the shares in the account.  By signing the Form V, the Awardee authorizes the Danish Tax Administration to examine the account.

 

9



 

In addition, if the Awardee opens a brokerage account (or a deposit account with a U.S. bank), the brokerage account (or bank account, as applicable) will be treated as a deposit account because cash can be held in the account.  Therefore, the Awardee must also file a Form K (Erklaering K) with the Danish Tax Administration.  Both the Awardee and the External Administrator must sign the Form K.  By signing the Form K, the External Administrator undertakes an obligation, without further request each year, to forward information to the Danish Tax Administration concerning the content of the deposit account.  By signing the Form K, the Awardee authorizes the Danish Tax Administration to examine the account.

 

If the Awardee uses the cashless method of exercise, the Awardee is not required to file a Form V because the Awardee will not hold any shares of Common Stock.  However, if the Awardee opens a deposit account with a foreign broker or bank to hold the cash proceeds, the Awardee are required to file a Form K as described above.

 

EXCERPTS ON THIS PAGE:

10-K
Dec 21, 2009
8-K
Mar 25, 2009

RELATED TOPICS for A:

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