Coach 2015 Annual Report Download - page 162
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RSUs Payable Only in Shares. Notwithstanding any discretion in the Plan or anything to the contrary in the Agreement, the grant of RSUs does not provide
any right for you to receive a cash payment, and the RSUs are payable in Shares only.
Joint Election for Transfer of the Employer’s Secondary Class 1 NICs Liability . As a condition of participation in the Plan and the vesting of the Award,
you agree to accept any liability for secondary Class 1 NICs which may be payable by the Company and/or the Employer in connection with the RSUs and
any event giving rise to Tax-Related Items (the “Employer NICs”). Without prejudice to the foregoing, you agree to execute a joint election with the
Company, the form of such joint election being formally approved by HMRC (the “Joint Election”), in the form set forth in Exhibit A to this Annex, and any
other required consent or election. You further agree to execute such other joint elections as may be required between you any successor to the Company
and/or the Employer. You further agree that the Company and/or the Employer may collect the Employer NICs from him or her by any of the means set forth
in this Appendix.
If you do not enter into a Joint Election prior to vesting of the Award, you will not be entitled to vest in the Shares unless and until you enter into a Joint
Election and no Shares will be issued to you under the Plan, without any liability to the Company and/or the Employer.
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