First Data 2014 Annual Report Download - page 161
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defined in Section 409A of the Code, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result
of such termination of service is necessary in order to prevent the imposition of any accelerated or additional tax under Section 409A of the
Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in
such payments or benefits ultimately paid or provided to the Participant) until the date that is six months and one day following the
Participant’s termination of employment with all Service Recipients (or the earliest date as is permitted under Section 409A of the Code), if such
payment or benefit is payable upon a termination of employment and (ii) if any other payments of money or other benefits due to the Participant
hereunder would cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits
shall be deferred, if deferral will make such payment or other benefits compliant under Section 409A of the Code, or otherwise such payment or
other benefits shall be restructured, to the extent possible, in a manner, reasonably determined by the Board in consultation with the Participant,
that does not cause such an accelerated or additional tax or result in an additional cost to the Company (without any reduction in such
payments or benefits ultimately paid or provided to the Participant).
11. Governing Law; International Participants
(a) This Plan shall be governed by and construed in accordance with the laws of the State of Delaware applicable therein.
(b) With respect to Participants who reside or work outside the United States of America, the Committee may, in its sole discretion, amend the terms
of the Plan or awards with respect to such Participants in order to conform such terms with the requirements of local law or to obtain more
favorable tax or other treatment for a Participant, the Company or any other Service Recipient.
12. Withholding Taxes
The Company shall have the right to deduct from any payment made under the Plan any federal, state or local income or other taxes required by law
to be withheld with respect to such payment. It shall be a condition to the obligation of the Company to deliver Shares upon the exercise of a Stock Option
that the Participant pays to the Company such amount as may be requested by the Company for the purpose of satisfying any liability for such withholding
taxes.
13. Effective Date and Termination Dates
The Plan shall be effective on September 24, 2007 and shall terminate ten years later, subject to earlier termination by the Board pursuant to
Section 10.