Burger King 2012 Annual Report Download - page 203

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
NOTIFICATIONS

The offer of this Option is considered a private offering in Switzerland and is therefore not subject to registration in Switzerland.

TERMS & CONDITIONS

The following provisions supplement the Taxes section of the Award Agreement:
You shall pay to the Company or the Employer the amount of income tax that the Company or the Employer may be required to account to HM Revenue &
Customs (“HMRC”) with respect to the event giving rise to the income tax (the “Taxable Event”) that cannot be satisfied by the means described in the Award
Agreement. If payment or withholding of the income tax is not made within ninety (90) days of the Taxable Event or such other period specified in
Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), then the amount that should have been withheld shall constitute
a loan owed by you to the Employer, effective on the Due Date. You agree that the loan will bear interest at the HMRC official rate and will be immediately due
and repayable by you, and the Company and/or the Employer may recover it at any time thereafter by any of the means set forth in Award Agreement.
Notwithstanding the foregoing, if you are an executive officer or director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of
1934, as amended), the terms of the immediately foregoing provision will not apply. In the event that you are an executive officer or director, as defined above,
and income tax due is not collected from or paid by you by the Due Date, the amount of any uncollected income tax may constitute a benefit to you on which
additional income tax and National Insurance contributions may be payable. You will be responsible for reporting and paying any income tax due on this
additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company or the Employer, as applicable, for the value of any
employee National Insurance contributions due on this additional benefit.
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Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research
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