Facebook 2014 Annual Report Download - page 113

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Please find page 113 of the 2014 Facebook annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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3. The Election
The Employee and the Company jointly elect that the entire liability of the Employer to pay the Employer’s Liability on the
Taxable Event is hereby transferred to the Employee. The Employee understands that by accepting (whether in writing,
electronically or otherwise) this Election he or she will become personally liable for the Employer’s Liability covered by this
Election.
4. Payment of the Employer’s Liability
5. Duration of Election
5.2 This Election will continue in effect until the earliest of the following:
Agreed to by the Employee by electronically accepting this award of RSUs.
Agreed to by Facebook, Inc.
4.1 The Employee hereby authorizes the Company and/or the Employer to collect the Employer’s Liability from the Employee at any
time after the Taxable Event:
(i) by deduction from salary or any other payment payable to the Employee at any time on or after the date of the Taxable
Event; and/or
(ii)
directly from the Employee by payment in cash or cleared funds; and/or
(iii)
by arranging, on behalf of the Employee, for the sale of some of the securities which the Employee is entitled to receive in
respect of the RSUs; and/or
(iv)
through any other method as set forth in the award agreement entered into between the Employee and the Company.
4.2 The Company hereby reserves for itself and the Employer the right to withhold the transfer of any securities to the Employee until
full payment of the Employer’s Liability is received.
4.3 The Company agrees to remit the Employer’s Liability to Her Majesty’s Revenue and Customs ( “HMRC” ) on behalf of the
Employee within fourteen (14) days after the end of the U.K. tax month during which the Taxable Event occurs.
5.1
The Employee and the Company agree to be bound by the terms of this Election regardless of whether the Employee is transferred
abroad or is not employed by the Employer on the date on which the Employer’s Liability becomes due.
(i)
such time as both the Employee and the Company agree that it should cease to have effect;
(ii)
on the date the Company serves notice on the Employee terminating its effect;
(iii)
on the date the HMRC withdraws approval of this Form of Election; or
(iv) on the date the Election ceases to have effect in accordance with its terms in respect of any outstanding RSUs granted
under the Plan.