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The Restricted Stock Unit Award Agreement is a crucial document used by companies operating under Danish jurisdiction to grant equity-based compensation to their employees. This agreement is typically implemented as part of a broader employee retention and incentivization strategy, allowing companies to offer employees a stake in the company's future success while complying with Danish corporate and tax laws. The document becomes necessary when a company decides to grant RSUs to employees, requiring careful consideration of the Danish Stock Options Act, tax regulations, and corporate governance requirements. It sets forth detailed terms regarding vesting schedules, settlement procedures, and tax implications, while ensuring compliance with Danish data protection laws and securities regulations. The agreement is particularly important for companies looking to attract and retain talent in the competitive Danish market while maintaining legal compliance.

1. Parties: Identification of the company granting the RSUs and the employee receiving them

2. Background: Context of the RSU grant, reference to any equity incentive plan, and corporate approvals

3. Definitions: Definitions of key terms including 'RSUs', 'Shares', 'Vesting Date', 'Grant Date', and other relevant terms

4. Grant of RSUs: Details of the RSU grant including number of units and grant date

5. Vesting Schedule: Specific vesting conditions, timeline, and requirements for vesting

6. Settlement of RSUs: Process and timing for converting vested RSUs into shares or cash equivalent

7. Tax Obligations: Tax implications and responsibilities, including withholding requirements under Danish law

8. Transfer Restrictions: Limitations on transfer or sale of RSUs and resulting shares

9. Termination of Employment: Treatment of RSUs upon various types of employment termination

10. Data Privacy: Consent for personal data processing and compliance with Danish GDPR requirements

11. General Provisions: Standard clauses including governing law, notices, and amendments