Income tax on the fair market value of the shares at vesting.

Tax on the date sales proceeds are repatriated to Morocco.

Deduction available if the subsidiary reimburses the parent for the RS/RSUs. Prior approval of the exchange control authorities is required for reimbursement payments.

Income Tax:
Likely no, unless the sale proceeds are paid out through local payroll or the subsidiary reimburses parent.

Social Insurance Contribution:
Likely no, unless the sale proceeds are paid out through local payroll or the subsidiary reimburses parent.

No, provided the underlying shares are not traded on the Moroccan Securities Exchange.

Companies may grant equity awards without approval from the exchange control authorities (Office des Changes or "OdC") to employees of Moroccan subsidiaries in which they have more than a 50% direct or indirect interest. Approval from the OdC may be required to allow employees to hold shares after vesting. Forcing the sale of shares at vesting is recommended to ensure compliance with exchange control requirements.

Please contact Baker McKenzie for details.

Sale proceeds and dividends must be repatriated to Morocco.

Written disclaimer recommended to reduce risk of plan entitlement.

Employee's written consent to the transfer of personal data outside Morocco must be obtained. In addition, if not already completed for employment data collection, either a prior authorization must be obtained from, or a declaration must be filed with, the National Commission for Data Protection, depending on the type of data to be collected and used in connection with the RS/RSUs.