UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 8‑K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report  ( Date of earliest event reported): August 2, 2019


Talend S.A.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

France

 

001-37825

 

Not Applicable

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer
Identification No.)

 

 

 

 

 

 

9, rue Pages

 

 

 

 

Suresnes, France

 

 

 

92150

(Address of principal executive offices)

 

 

 

(Zip Code)

 

+33 (0) 1 46 25 06 00

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction  A.2. below):

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

Title of each class

Trading Symbol (s)

Name of exchange on which registered

American Depositary Shares, each representing one
ordinary share, nominal value €0.08 per share

 

Ordinary shares, nominal value €0.08 per share*

TLND

The NASDAQ Stock Market LLC

 

 

The NASDAQ Stock Market LLC*

* Not for trading, but only in connection with the listing of the American Depositary Shares on the NASDAQ Stock Market LLC.

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

 

Emerging growth company [  ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  [  ]

 

Item 5.02. Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(e) On August 2, 2019, the Board of Directors (the “Board”) of Talend S.A. (the “Company”) approved the Company’s 2019 Free Share Plan (the “Plan”), effective immediately.

 

The Plan, governed by French law, provides for the issuance of free shares (restricted stock units) to the Company’s employees and employees of any company or group in which the Company holds, directly or indirectly, 10% or more of the share capital or voting rights as of the date of grant. Specific participants in the Plan are determined at the discretion of the Board, subject to the terms of the Plan.

 

Pursuant to authority delegated by shareholders to the Board at the Company’s June 25, 2019 Annual Combined General Meeting of shareholders (the “AGM”), the maximum number of ordinary shares that may be delivered and issued in satisfaction of awards under the Plan cannot exceed 2,000,000 shares, subject to certain adjustments.

 

The Plan is administered by the Board, which has the discretion, subject to applicable French law, and delegations of authority of the Company’s shareholders at the Company’s AGM, to determine (i) the terms, conditions and restrictions applicable to free shares granted to any participant and (ii) whether, to what extent, and under what circumstances an award of free shares may be settled, canceled, forfeited, exchanged, or surrendered. The Board has the authority to amend, alter, suspend or terminate the Plan, subject to certain limitations.

 

Free shares vest at the times and upon the conditions as determined by the Board and as reflected in applicable award grant letters. The Plan generally requires a minimum one-year vesting period and requires that free shares that have been definitively acquired may not be sold or transferred before the second anniversary of the grant date pursuant to French law.

 

The summary of the 2019 Free Share Plan is qualified in its entirety by reference to the full text of the 2019 Free Share Plan, the English translation of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

 

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

 

(a) On August 2, 2019, the Board approved an update to Article 6 of the Company’s By-laws, effective immediately, solely to reflect an adjustment in the Company’s share capital as a result of shares issued upon the exercise of employee stock options and warrants, and the vesting of restricted stock units.

 

The foregoing description is qualified in its entirety by reference to the full text of the By-laws, the English translation of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.  

(d) Exhibits

 

 

 

3.1

 

Amended and Restated By-laws (statuts) of Talend S.A. (English Translation), effective as of August 2, 2019

 

 

10.1

2019 Free Share Plan (English Translation)

 

 

10.2

Form of 2019 Free Share Plan Time-Based Grant Letter

 

 

10.3

Form of 2019 Free Share Plan Performance-Based Grant Letter

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

Talend S.A.

 

 

 

 

By:

/s/ Aaron Ross

 

 

Aaron Ross

 

 

General Counsel

 

 

Date:  August 8, 2019

 

 

 

 

Exhibit 3.1

TALEND

 

Société anonyme (French public limited company) with capital of  € 2,444,699.84

Registered office: 9, rue Pagès - 92150 Suresnes

484 175 252 R.C.S. (Trade and Companies Register) Nanterre

 

 

 

 

 

 

 

 

 

 

 

 

BYLAWS

 

 

UPDATED ON AUGUST 2, 2019

 

 

 

 

 

 

 

 

 

 

 

 Copy certified by a Deputy Managing Director

 

 

 

 

 

Emilie Trailin

 

 

 

 

 

TITLE I

 

Form - Purpose - Company name - Registered Office - Duration

 

 

Article 1 Form

 

Talend (hereafter the " Company ") was established as a société par actions simplifiée then changed into a société anonyme on the decision of the shareholders on April 14, 2006. The Company is governed by the provisions of Book II of the French Commercial Code and by these bylaws (the " Bylaws ").

 

 

Article 2 Name

 

The name of the Company is:

TALEND

 

All the deeds and documents issued by the Company to third parties, in particular, the letters, invoices, notices and various publications, must show the company name immediately and legibly preceded or followed by the words " Société Anonyme " or the initials "S.A.", the statement of share capital and the registration number in the Trade and Companies Register.

 

 

Article 3 Purpose

 

The Company's purpose, either directly or indirectly, in particular through the intermediary of subsidiaries or holdings, in France and abroad, is:

 

- the development, research, production, marketing, purchase, sale, rental, after-sales support of software and/or IT equipment;

- the supply and sale of user services including in particular training, demonstration, methodology, rollout and use;

- the supply and sale of IT resources whether combined or not with software or service delivery.

 

The Company's purpose is also:

 

- the creation, acquisition, rental, lease-management of all business assets or facilities, lease, installation, operation of all establishments;

- the acquisition, use or sale of all intellectual or industrial property rights as well as any expertise in the field of information technology;

- and, more generally, investing in any enterprise or company created or to-be-created as well as carrying out any legal, economic, financial, industrial, civil and commercial transactions, whether in movable property or real estate, directly or indirectly relating, in whole or in part, to the aforementioned purpose or to other similar or related purposes.

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Article 4 Registered Office - branches

 

The registered office is located at:

9, rue Pages - 92150 Suresnes

 

It may be transferred to any other location in the French territory upon decision of the Board of Directors, subject to ratification by the next General Meeting, and in any other location by decision of an Extraordinary General Meeting.

 

The Board of Directors may create agencies, factories and branches wherever it deems useful.

 

 

Article 5     Duration

 

The duration of the Company is set at ninety-nine (99) years, starting from its first registration in the Trade and Companies Register, except in the case of extension or early dissolution decided by shareholders.

 

 

TITLE II

 

Share capital - Shares

 

 

Article 6 Share Capital 

 

The share capital is set at €  2,444,699.84. 

 

It is divided into 30,558,748 ordinary shares with a par value of €  0.08 per share, fully paid up and all of the same class.

 

 

Article 7 Change in the share capital

 

The share capital may be increased, reduced or amortized under the conditions set by law.

 

 

Article 8 Payment of shares

 

The shares are issued and paid up under the conditions set by law.

 

Capital calls and the date on which the corresponding sums must be paid are disclosed to shareholders at least 15 days before the date set for each payment by registered letter with acknowledgment of receipt, addressed to the shareholders or by a notice in a legal announcements newspaper published where the registered office is located.

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The shareholder who does not make the requested additional payments for the shares on their due date is legally and without any other formality liable to the Company for late interest calculated daily from the due date at the legal rate.

 

The Company has the right, in order to obtain the payment of these amounts, of enforcement and penalties as provided by law.

 

 

Article 9 Type of Shares

 

Fully paid-up shares may be held in nominative or bearer form, at the shareholder’s request, subject, nonetheless, to the legal provisions relating to the form of the shares held by certain natural or legal persons. Shares that are not fully paid-up must be held in nominative form.

 

Shares must be registered in an account in accordance with the terms and conditions provided for by the current legal and regulatory provisions.

 

Ownership of shares delivered in nominative form results from them being recorded in the share register.

 

 

Article 10   Transfer of Shares – Identification of the bearer of shares

 

10.1 Shares are freely transferable by transfer between accounts, in accordance with the current legal and regulatory provisions.

 

10.2 Furthermore, the Company has the right to request, in accordance with current legal and regulatory provisions, at any time and at its own expense, from any authorized body, the name, or corporate name in the case of legal persons, nationality and address of the holders of securities conferring immediate or future voting rights in its own Shareholders' Meetings, as well as the number of securities held by each of them and any restrictions on these securities. 

 

 

Article 11 Rights and Obligations Governing Shares

 

Shares will be indivisible with respect to the Company.

 

Multiple holders of undivided interests in shares will be represented at General Meetings by one of them or by a single agent; in the event of disagreement, the agent will be designated by a court of law at the request of the co-owner who acts first.

 

Each share entitles its holder to one vote at General Meetings of shareholders.

 

As a result of the reverse share split approved by the Combined Shareholders’ Meeting of 1 June 2016, and until the expiry of a period of two (2) years following the start date for reverse split transactions as set by the reverse share split notice published by the Company in the BALO (Bulletin des Annonces Légales et Obligatoires) pursuant to the resolutions adopted by the Combined Shareholders’ Meeting of 1 June 2016, any shares that are not grouped (former shares with a par value of €0.01 each), will each give the holder the right to one (1) vote and any grouped shares with a par value of €0.08 each, will each

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give the holder the right to eight (8) votes, such that the number of votes attached to the shares will be proportional to the share of the capital that they represent.

 

The right to vote is held by the usufruct shareholder in Ordinary General Meetings and by the bare owner in Extraordinary General Meetings. Shareholders may, however, agree to allocate voting rights in a different manner at General Meetings, provided that the usufruct shareholder is not deprived of the right to vote on decisions concerning profits; in this case, they must bring their agreement to the Company's attention by registered letter with a notice of receipt sent to the registered office. The Company will be required to respect the above agreement for any General Meeting held at least five days after receipt of the notice of that agreement.

Even deprived of the voting right, the bare-owner of the shares will always have the right to participate in General Meetings.

 

Each share entitles the holder thereof to a proportionate ownership right in the profits of the Company and in the proceeds after liquidation equal to the pro rata portion of the registered capital represented by such share.

 

Ownership of a share automatically entails compliance with the Company's Bylaws and with resolutions duly adopted by the General Meeting of shareholders.

 

Whenever it is necessary to own several shares in order to exercise any right, the owners of isolated shares or a number of shares less than the required number may exercise those rights only on the condition that they personally see to the pooling and, possibly, the purchase or sale of the necessary number of shares.

 

 

TITLE III

 

Company Management

 

 

Article 12   Board of Directors

 

The Company is managed by a Board of Directors composed of a minimum of three members and a maximum of twelve members. 

 

The directors shall be appointed by the Ordinary General Meeting of shareholders.

 

 

Article 13 Appointment and Revocation of Directors

 

The directors' term of office is three (3) years. A director's duties end at the conclusion of the general meeting that approved the financial statements of the past year that is held in the current year in which the term of the said director expires.

 

Directors may be reappointed and they may be revoked at any time by decision of the Ordinary General Meeting of shareholders.

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If a director seat becomes empty between two General Meetings, the Board of Directors may, in compliance with applicable laws and regulations, make temporary appointments. A director appointed to replace another holds the office only for the time remaining in the term of his or her predecessor.

Appointments of directors made by the Board of Directors are subject to the approval of the next Ordinary General Meeting. When there is no ratification, the rulings and the acts carried out previously by the Board still remain valid.

 

A person more than 70 years old cannot be appointed director if their appointment brings the number of Board members over 70 years old to more than one third.

 

If this limit is reached, the oldest director shall be considered as resigning at the end of the meeting of the Annual Ordinary General Meeting ruling on the financial statements of the previous year held in the current year in which this one-third limit has been reached.

 

 

Article 14   Organization and Deliberations of the Board of Directors

 

1) Board meetings

 

The Board of Directors meets as often as required in the interest of the Company.

 

Directors are called to attend Board meetings by the Chairman. In addition, Directors representing at least one-third of the Board members may validly call a Board meeting if no such meeting has been held for more than two months.

 

Meetings of the Board of Directors are held at the registered office of the Company or at any other place.

Advance notice for calling directors to the meetings of the Board of Directors is at least five (5) working days on first call and twenty-four (24) hours on second call, except, for these two cases, when the directors would all be present or represented.

 

The calls for meeting may be made by any means of written communication including by simple postal or electronic mail.

 

2) Quorum

 

A meeting of the Board of Directors is considered valid when at least half of its members are present. 

 

3) Deliberations

 

Decisions of the Board of Directors are made on the majority of the votes of participating members, present or represented. Decisions are binding on all members of the Board of Directors, even those absent or dissenting. 

 

4) Meeting minutes

 

The meetings of the Board of Directors are documented in minutes prepared in a special register that is numbered, initialled and held in the registered office of the Company, in compliance with regulatory provisions.

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5) Representation

 

Any director may be represented by another director at a meeting of the Board by means of a written proxy.

 

Each director can only have, during the same meeting, one single proxy received in application of the previous sub-paragraph.

 

These provisions are applicable to the permanent representatives of legal persons who are directors.  

 

6) Confidentiality

 

Any and all directors or any person called to the meetings of the Board are held to confidentiality with respect to the information presenting a confidential character and data considered as such by the Chairman of the Board.

 

 

Article 15   Powers of the Board of Directors – Committees

 

1) Powers

 

The Board of Directors shall determine the focuses of the activity of the Company and oversee their implementation. Subject to the powers expressly granted to shareholders' meetings and limited to the Company's purpose, the Board of Directors deliberates on all matters concerning the operation of the Company's activities and rules on all affairs over which it has authority.

 

In its relations with third parties, the Company is committed even by the actions of the Board of Directors that are not within the scope of the Company's purpose, unless it can prove that the third-party knew that the action exceeded this purpose or that it could not be unaware of it in view of the circumstances, and mere publication of the Bylaws shall not be sufficient proof thereof.

 

The Board of Directors shall carry out the controls and verifications that it deems necessary. The Chairman or the Chief Executive Officer shall provide each director with all of the documents and information necessary to carry out their mission.

 

2) Committees

 

The Board may decide to create committees charged with studying the issues that itself or its Chairman submits to them for their examination and advisement. The Board shall determine the composition and the responsibilities of the committees that conduct their activity under its responsibility. It shall set the compensation of the people who compose them.

 

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Article 16   Executive Management

 

1) Chairman of the Board of Directors

 

The Board of Directors shall choose from among its members a Chairman who must be a physical person, otherwise the appointment is null and void. It shall determine his or her compensation in the conditions set by law.

 

The Chairman shall be appointed for a term that cannot exceed that of his or her director's term. He or she may be reappointed.

 

The Board of Directors may revoke the Chairman at any time.

 

The Chairman of the Board cannot be more than 70 years old. If the Chairman reaches this age limit during his or her term as Chairman, he or she is deemed to have resigned automatically from office. The term office is extended however until the next meeting of the Board of Directors during which the successor will be appointed. 

In the case of temporary unavailability or death of the Chairman, the Board of Directors may appoint a director for the functions of the Chairman.

 

In the case of temporary unavailability, this appointment is made for a limited amount of time. It is renewable. In the case of death, it is valid until the election of the new Chairman.

 

The Chairman of the Board of Directors shall organize and manage its work, which is reported to the General Meeting. It shall oversee the proper functioning of the Company's management bodies and ensures, in particular, that the directors are able to carry out their mission.

 

2) Executive Management

 

Executive management of the Company shall be assumed, under its responsibility, by the Chairman of the Board of Directors, or by another physical person appointed by the Board of Directors and bearing the title of Chief Executive Officer.

 

The Board must choose between the two forms of exercising executive management at all times and, at least, each time the term of Chief Executive Officer expires or that of the Chairman of the Board of Directors when he or she also assumes the executive management of the Company.

 

Shareholders and third parties shall be informed of this choice in the conditions defined by decree.

The final decision of the Board of Directors on the choice of the form of exercising executive management shall be carried out based on the majority of the votes of the participating members, present or represented.

 

When the executive management of the Company is assumed by the Chairman of the Board of Directors, the provisions in the Bylaws relating to the Chief Executive Officer are applicable to him or her.

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3) Chief Executive Officer

 

The Chief Executive Officer is empowered with the most extensive powers to act in all circumstances in the name of the Company. He or she shall exercise those powers within the limits of the Company's purpose and subject to those expressly granted by law to shareholders' meetings and to the Board of Directors. 

 

The Chief Executive Officer represents the Company in its relations with third parties. The Company is committed even by the actions of the Chief Executive Officer that are not part of the Company's purpose, unless the Company proves that the third party knew that the action exceeded this purpose or could not be unaware of it in view of the circumstances, and mere publication of the Bylaws shall not be sufficient proof thereof.

 

The provisions in the Bylaws or the decisions of the Board of Directors limiting the powers of the Chief Executive Officer are unenforceable against third parties.

 

The Chief Executive Officer can delegate the powers belonging to him or her by law or the Bylaws or that are delegated to him or her by the Board of Directors or the shareholders. 

 

The Board of Directors determines the compensation of the Chief Executive Officer in the conditions set by law.

 

The Chief Executive Officer cannot be more than 70 years old. When a Chief Executive Officer reaches this age limit during their term of office, he or she is deemed to have resigned automatically from office. The term of office is extended however until the next meeting of the Board of Directors in which the successor will be appointed. Subject to this provision, the Chief Executive Officer may be re-appointed.

 

4) Delegate Chief Executive Officers

 

On proposal of the Chief Executive Officer, the Board of Directors may grant authority to one or more physical persons to assist the Chief Executive Officer with the title of Delegate Chief Executive Officer. The Delegate Chief Executive Officer(s) may be revoked at any time by the Board of Directors on proposal of the Chief Executive Officer.

 

As approved by the Chief Executive Officer, the Board will determine the extent and the duration of the powers given to the Delegate Chief Executive Officer. The Board shall determine his or her compensation in the conditions set by law.

 

With respect to third parties, the Delegate Chief Executive Officers have the same powers as the Chief Executive Officer; in particular the Delegate Chief Executive Officers can take part in legal proceedings.

A Delegate Chief Executive Officer cannot be more than 70 years old. When a Delegate Chief Executive Officer reaches this age, he or she is deemed to have resigned automatically from office. The term of office is extended however until the next meeting of the Board of Directors during which a new Delegate Chief Executive Officer will be appointed.

 

There cannot be more than five (5) Delegate Chief Executive Officers.

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Article 17   Compensation of Directors

 

The General Meeting can allocate a fixed annual amount to the directors, as compensation for their activity, for attendance fees. The General Meeting will determine this amount without being bound by previous decisions. 

 

The Board of Directors shall freely distribute among its members the overall amounts allocated to the directors in the form of attendance fees.

 

The Board of Directors may allocate exceptional compensation for missions or mandates granted to directors in the conditions specified by law.

 

The directors bound to the Company by an employment contract can receive compensation for said contract in the conditions specified by law.

 

The Board of Directors can authorize reimbursement of travel and movement fees and for expenses incurred by directors in the interest of the Company.

 

 

TITLE IV

 

Audits of the Company's Financial Statements

 

 

Article 18   Appointment of the Statutory Auditors – Incompatibility

 

One or more principal and alternate Statutory Auditors must be appointed pursuant to the current legal and regulatory provisions.

 

The Statutory Auditors are appointed for six (6) financial periods by the Ordinary General Meeting and their duties expire after the Ordinary General Meeting deliberating on the financial statements of the sixth financial period.

 

 

Article 19   Duties of the Statutory Auditors

 

The Statutory Auditors have the duties and powers granted to them by the applicable laws and regulations.

 

The Statutory Auditors can, at any time of the year, carry out the audits or controls that they deem necessary.

 

The compensation of the Statutory Auditors is determined according to procedures set by applicable regulations.

 

They must be invited to all shareholders' meetings as well as all meetings of the Board of Directors in which the annual or intermediate financial statements are examined or approved.

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TITLE V

 

General Meetings

 

 

Article 20 General Meetings

 

General Meetings are convened and held in the conditions set by law.

 

When the Company wants to make a call for meeting using electronic telecommunication instead of a postal invitation, it must first obtain the agreement of the interested shareholders who will provide their electronic addresses.

 

Meetings will take place at the registered office or in any other place specified in the meeting invitation.

 

The right to participate in General Meetings is governed by current legal and regulatory provisions and, notably, is subject to the shares being registered in the name of the shareholder or the intermediary registered on his or her behalf, on the second (2 nd ) business day prior to the General Meeting, at midnight (00:00) Paris time, either in the registered share accounts held by the Company, or in the bearer share accounts held by the authorized intermediary.

 

A shareholder who is unable to personally attend the meeting may choose one of the three following options, to:

 

give a proxy to another shareholder or to their spouse, or partner with whom they have a civil solidarity pact; or

vote by mail; or

send a proxy to the Company without indicating a representative;

 

in the conditions allowed by law and regulations.

 

The Board of Directors can organize, in the conditions specified by applicable laws and regulations, participation and voting of shareholders at meetings by videoconferencing or by other telecommunication means that allow their identification. If the Board of Directors decides to exercise this option for a given meeting, this decision of the Board shall be reported in the meeting notice and/or invitation. Shareholders who take part in meetings by videoconferencing or by any other telecommunication means mentioned above, depending on the choice of the Board of Directors, are deemed to be present with respect to quorum and majority.

 

The meetings are chaired by the Chairman of the Board of Directors, or when absent, by the Chief Executive Officer, by a Delegate Chief Executive Officer who is a director, or by a director specially appointed for this purpose by the Board. Otherwise, the Meeting itself will choose its Chairman.

 

The observers' duties are filled by the two members of the meeting who are present, who accept these duties and who have the greatest number of votes. The office will designate the Secretary, who may be chosen outside of the shareholders.

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An attendance sheet will be kept in the conditions specified by law.

 

The general shareholders' meeting, whether ordinary,  extraordinary or special, whether it is held on first or second convocation, validly deliberates only if the shareholders present or represented own at least 33 1/3 of the voting shares.

 

The deliberations of the Ordinary General Meeting are approved on the majority of votes of the shareholders present or represented.

 

The deliberations of the Extraordinary General Meeting are approved by a two-thirds majority of the votes of the shareholders present or represented.

 

Copies or extracts of meeting minutes are validly certified by the Chairman of the Board of Directors, by a director exercising the functions of Chief Executive Officer or by the meeting Secretary.

 

Ordinary and Extraordinary General Meetings exercise their respective powers in the conditions specified by law.

 

 

TITLE VI

 

Company Performance

 

 

Article 21 Financial Year

 

Each financial period lasts one year, starting on January 1 and ending on December 31.

 

 

Article 22 Profits - Legal Reserve 

 

At least five per cent (5%) of the profits of the financial period, minus any prior losses, must be withheld and assigned to the creation of a reserve fund called the "legal reserve". This withholding no longer applies when the amount of the legal reserve reaches one-tenth of the share capital.

 

The distributable profit is made up of the profits of the financial period minus any prior losses and the withholding mentioned in the previous paragraph and increased by the retained earnings.

 

 

Article 23 Dividends

 

If the financial statements of the period, approved by the General Meeting, show the existence of a distributable profit, the General Meeting shall recognize it in one or more reserve items whose allocation or use it governs, carry it forward or distribute it in the form of dividends.

 

After having recognized the existence of reserves that it has at its disposal, the General Meeting may decide to distribute amounts taken from these reserves. In this case, the decision shall expressly indicate

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the reserve items from which these distributions shall be taken. However, the dividends shall be taken in priority from the distributable profits of the financial period.

 

The procedures for paying the dividends shall be set by the General Meeting or otherwise by the Board of Directors.

 

However, the payment of dividends must be made within a maximum time of nine (9) months after the close of the financial period.

 

The General Meeting deliberating on the financial statements of the financial period can give to each shareholder, for all or part of the dividend being distributed, the option of payment either in cash or in shares.

 

Likewise, the Ordinary General Meeting, deliberating in the conditions specified in Article L. 232-12 of the French Commercial Code, can give each shareholder a partial dividend payment and for all or part of the said partial dividend payment, the option of payment either in cash or in shares.

 

The offer for payment in shares, the price and the conditions for issuing the shares as well as the request for payment in shares and the conditions for carrying out the capital increase are governed by applicable laws and regulations. 

 

When a balance sheet prepared during or at the end of the financial period and certified as compliant by the Statutory Auditor or Auditors shows that the Company, since the close of the previous financial period, after creation of the necessary amortizations and provisions and minus any prior losses as well as the amounts to place in reserves in application of the law or the Bylaws and taking into account the retained earnings, has made a profit, the Board of Directors may decide to distribute partial dividend payments before the approval of the financial statements of the period and set the amount and the date of the allocation. The amount of these partial payments cannot exceed the amount of the profit defined in this sub-paragraph. In this case, the Board of Directors cannot make use of the option described in the sub-paragraphs above.

 

 

 

TITLE VII

 

Dissolution - Liquidation

 

 

Article 24 Early Dissolution

 

The Extraordinary General Meeting can declare the early dissolution of the Company at any time.

 

 

Article 25 Loss of Half of the Share Capital

 

If, due to losses shown in the accounting documents, the shareholders' equity becomes less than half of the Company’s share capital, the Board of Directors must, within four months of the approval of the

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financial statements showing this loss, convene an Extraordinary General Meeting to decide whether there should be early dissolution of the Company.

 

If dissolution is not declared, the capital must, at the latest by the close of the second financial year following the one in which the losses were recorded, and subject to laws relating to the minimum capital of corporations, be reduced by an amount at least equal to the losses that were not charged against the reserves, if within this period the shareholders' equity has not been restored up to a value of at least half of the share capital.

 

If there is no General Meeting, for example, if the meeting is not able to validly deliberate, any interested party may petition the courts for the dissolution of the Company.

 

 

Article 26 Effects of the Dissolution

 

The Company is considered in liquidation immediately upon dissolution regardless of the cause. It remains a legal person for the purposes of liquidation until the closing of the liquidation.

 

Throughout the liquidation, the General Meeting holds the same powers that it had while the Company was in existence.

 

Shares may be traded until the closing of the liquidation.

 

The dissolution of the Company has no impact on third parties until the date on which it is published in the Trade and Companies Register.

 

 

Article 27 Appointment of Liquidators - Powers

 

Upon expiration of the duration of the Company or in the case of early dissolution, the General Meeting shall determine the procedure for liquidation and appoint one or more liquidators whose powers it will determine and who will carry out their duties pursuant to applicable laws. When the liquidators are appointed, the duties of the directors, Chairman, Chief Executive Officer and Delegate Chief Executive Officers automatically end.

 

 

Article 28 Liquidation - Closing

 

After settling the liabilities, the balance of the assets is firstly used to repay to shareholders the amount of the non-amortized paid-up share capital.

 

Any surplus is split between all the shares.

 

The shareholders are called to meet at the end of liquidation to rule upon the final account, on the final discharge of the management of the liquidators and the discharge of their mandate, and to record the closing of the liquidation.

 

The closing of the liquidation will be published in accordance with applicable laws.

14

 

TITLE VIII

 

Notices - Disputes

 

Article 29 Notices

 

All notices stipulated in the Bylaws will be made by certified mail with request for proof of delivery or by extra-judicial document. At the same time, a copy of the notice must be sent to its recipient by regular mail.

 

 

Article 30   Disputes

 

Any and all disputes that could arise during the lifetime of the Company or during its liquidation, whether between the shareholders and the Company, or between the shareholders themselves, concerning the Company business, the interpretation or the execution of the Bylaws, are subject to the jurisdiction of the competent courts.

 

- - ooOoo- -

15

Exhibit 10.1

 

 

 

 

 

 

 

 

Talend

 

2019 Free share plan

 

 

 

Approved by the Board of Directors on August 2 nd , 2019

 

 

TABLE OF CONTENTS

 

 

 

 

1.

IMPLEMENTATION OF THE FREE SHARE PLAN

1

2.

DEFINITIONS

1

3.

PURPOSE

1

4.

BENEFICIARIES

3

5.

NOTICE OF THE GRANT OF THE SHARES

3

6.

VESTING PERIOD

4

7.

HOLDING PERIOD

7

8.

CHARACTERISTICS OF THE SHARES

8

9.

DELIVERY AND HOLDING OF THE SHARES

8

10.

INTERMEDIARY OPERATIONS

9

11.

ADJUSTMENT

9

12.

AMENDMENT OF THE 2019 PLAN

9

13.

TAX AND SOCIAL RULES

10

14.

MISCELLANEOUS

10

 

 

 

 

 

1. Implementation of the free share plan

 

Pursuant to a decision dated June 25 th , 2019, the combined ordinary and extraordinary general shareholders’ meeting of Talend, a French société anonyme whose registered office is located at 9, rue Pages, 92150 Suresnes, registered with the French Registry of commerce and companies under number 484 175 252 R.C.S. Nanterre (hereafter referred to as the " Company ") authorized the board of directors of the Company (hereafter referred to as the “ Board of Directors ”) to grant restricted stock units (“ RSUs ”) (referred to under French law as free shares) of the Company to the benefit of employees of the Company or to certain categories of such employees, and/or to the benefit of its corporate officers who meet the conditions set forth by Article L. 225-197-1 II of the French commercial code, as well as to the benefit of employees of companies or economic interest groups whose share capital or voting rights are held, directly or indirectly, by more than ten percent (10%) by the Company at the date of grant of such shares.

 

The Board of Directors decided on August 2 nd , 2019, pursuant to the abovementioned authorization of the shareholders’ general meeting and after review and approval by the Compensation Committee of the Board of Directors (the “ Compensation Committee ”), to adopt this free share plan of the Company setting forth the conditions and criteria for the grant of such shares (hereafter referred to as the " 2019 Plan ").

 

2. Definitions

 

Under the 2019 Plan, the following capitalized terms and expressions used in the 2019 Plan shall have the meaning ascribe to them below:

 

 

 

 

"Beneficiaries"

means the person(s) to whom the Board of Directors decided to Grant free shares as well as, as the case may be, his or her estate.

"Bylaws"

means the bylaws of the Company as in force from time to time.

"Cause"

means the occurrence of any of the following: (i) an act of dishonesty made by the Beneficiary in connection with the Beneficiary’s responsibilities as an employee, (ii) the Beneficiary’s conviction of, or plea of nolo contendere to, a felony or any crime involving fraud, embezzlement or any other act of moral turpitude, (iii) the Beneficiary’s violation of any federal, state, or securities law or regulation in a manner detrimental to the business of any member of the Group or of any federal, state, or securities law or regulation applicable to the business of any member of the Group, (iv) the Beneficiary’s unauthorized use or disclosure of any proprietary information or trade secrets of the Group or any other party to whom the Beneficiary owes an obligation of nondisclosure as a result of the Beneficiary’s relationship with the Group, (v) the Beneficiary’s willful and gross misconduct that is or could be materially injurious to any member of the Group, (vi) a material breach of any confidentiality agreement or invention assignment agreement between Beneficiary and any member of the Group, or (vii) the Beneficiary’s continued failure to perform the Beneficiary’s employment duties (other than a failure resulting from the Beneficiary’s “Disability”) after the Beneficiary has received a written demand of performance from the Company which specifically sets forth the factual basis for the Company’s belief that the Beneficiary has not substantially performed the Beneficiary’s duties and has

 

 

 

 

failed to cure such non-performance to the Company’s satisfaction within 10 business days after receiving such notice.

"Change in Control"

means any of the following events: (i) a merger of the Company into another corporation which is not controlled by the shareholders controlling the Company immediately before the completion of the relevant merger, (ii) the sale by one or several shareholders of the Company, acting alone or in concert, to any acquirer of a number of Shares resulting in a transfer of more than fifty percent (50%) of the Shares and voting rights of the Company to said acquirer, or (iii) the sale of all or almost all assets of the Company to any acquirer which are not controlled by the Company or its shareholders.

"Change in Control Period"

means the period beginning three months prior to and ending 12 months following the Change in Control.

"Disability"

means the disability of a Beneficiary corresponding to the second or third categories set forth in article L. 341-4 of the French social security code 1 .     A Beneficiary shall not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to comply with the above definition and satisfy the Company in its discretion.

"Grant"

means the decision of the Board of Directors to grant free Shares ( actions gratuites ) to Beneficiary(ies) under the 2019 Plan; provided that such Grant shall constitute a right to acquire Shares for free upon expiration of their Vesting Period subject to compliance with the terms and conditions of the 2019 Plan and the Grant Notice.

"Grant Date"

means the date when the Board of Directors decided to grant free Shares ( actions gratuites ) under the 2019 Plan.

"Grant Notice"

means, in case of a Grant, the information notice sent by the Company to the relevant Beneficiaries in order to inform them of the Grant to them of free Shares by the Company under the 2019 Plan, as set forth in Article 5 of the 2019 Plan (including any applicable exhibits and appendices attached thereto).

"Group"

means the Company together with all its affiliated entities within the meaning of article L. 225-197-2 of the French commercial code.

"Holding Period"

means, with respect to a free Share granted to a Beneficiary under the 2019 Plan, the period (if any) starting from its Vesting Date as set forth in such Beneficiary’s Grant Notice.

“Involuntary Termination

means the termination of the Beneficiary’s Presence by the Company or any of the companies of the Group without “Cause” (and not by reason of the Beneficiary’s death or Disability)


1   Note : As at the date of adoption of this 2019 Plan by the Board of Directors, the second or third categories of disable persons set forth in article L. 341-4 of the French social security code are as follows: (i) a disable person unable to carry out any responsibilities and functions or (ii), in addition to being disable under (i) above, a disable person forced to call upon a third party in order to carry out the tasks necessary for everyday life.

2

 

 

 

"Presence"

means the presence of the Beneficiary in his or her capacity as an employee and/or corporate officer of the Company or of any of the companies of the Group.

"Shareholders’ Authorization"

means the authorization granted by the shareholders of the Company, at its meeting held on June 25 th , 2019, pursuant to its twentieth resolution, to the Board of Directors to grant free Shares.

"Shares"

means the ordinary shares issued or to be issued by the Company representing its share capital, whether any such shares are represented by American Depository Receipts (“ ADRs ”) or not.

"Trading Day"

means, if applicable, in case and when the Company becomes listed on the French regulated market of Euronext in Paris during the Vesting Period (or, if any, the Holding Period) 2 , the working days when shares are traded on such market, other than days when the listings end prior to the usual closing hour.

"Vesting Date"

means, with respect to a free Share granted to a Beneficiary under the 2019 Plan, the date when such free Share is definitively acquired by the relevant Beneficiary as set forth in his or her Grant Notice.

"Vesting Period"

means, with respect to a free Share granted to a Beneficiary under the 2019 Plan, the period from the Grant Date to the Vesting Date as set forth in the Grant Notice of the relevant Beneficiary.

 

3. Purpose

 

The purpose of the 2019 Plan is to set forth the terms and conditions for the Grant of free Shares in compliance with articles L. 225-197-1 et seq. of the French commercial code and the Shareholders’ Authorization.

 

4. Beneficiaries

 

Pursuant to the Shareholders’ Authorization, the Board of Directors shall (i) select the list of Beneficiaries among the Company’s eligible officers and employees as well as the eligible officers and employees of companies in which it holds, directly or indirectly, at least ten percent (10%) of the share capital and voting rights and (ii) determine the number of free Shares granted to each of them.

 

5. Notice of the Grant of the Shares 

 

In case of a Grant, a Grant Notice must be sent to each relevant Beneficiary by the Board of Directors (or by any delegate thereof) by registered mail (postage prepaid, return receipt requested), by electronic delivery managed by a qualified e-certification provider ( prestataire de services de certification électronique ) or by hand delivery with acknowledgement of receipt, together with a copy of the 2019 Plan, which notice shall specify, in particular, the number of Shares granted for free


2   Note: As at the date of execution of the 2019 Plan, the Company is not listed on the French regulated market of Euronext in Paris.

3

 

 

to the Beneficiary, their Vesting Period and, as the case may be, their Holding Period, as well as any country-specific provisions applicable to the Grant pursuant to Article 14.3 below.

 

The Beneficiary shall acknowledge receipt of the Grant Notice and of the 2019 Plan by returning signed copies of these documents within thirty (30) days from the date of receipt, the documents being deemed to have been received by Beneficiary on the date of first delivery. Failing which, the Grant to the relevant Beneficiary shall be null and void.

 

The fact that a person may benefit from the 2019 Plan does not imply that he or she shall benefit from any other plan that may be implemented thereafter.

 

6. Vesting Period

 

6.1. Principle

 

Any free Share granted under the 2019 Plan shall be definitively acquired by the relevant Beneficiary upon expiration of its Vesting Period, subject to the following conditions being met on the Vesting Date (or such other date, as may be set forth in the Grant Notice):

 

- continued Presence of the relevant Beneficiary during the Vesting Period (or such shorter period as may be set forth in the Grant Notice) (the “ Continuous Presence Condition ”); provided that, unless otherwise specified in his or her Grant Notice, should the Continuous Presence Condition no longer be met during the relevant Vesting Period, the relevant Beneficiary shall definitely and irrevocably lose his or her right to acquire the relevant Shares granted to him or her on the date when such condition is no longer met; and

 

- as the case may be, satisfaction of performance conditions (the “ Performance Conditions ”) to be determined by the Board of Directors, in its sole discretion, and set forth in the Grant Notice of the relevant Beneficiary;

 

provided that, at any time during a Vesting Period, the Board of Directors may, in its sole discretion, decide to waive and release the relevant Beneficiary of the Continuous Presence Condition and/or, as the case may be, the Performance Conditions with respect to all or part of his or her free Shares; and

 

provided further that, pursuant to article L. 225-197-1 of the French commercial code, with respect to any free Share granted under the 2019 Plan: (a) the Vesting Period should be equal to at least one year and (b) the total duration of its Vesting Period and the Holding Period (if any) shall be equal to at least two years from the Grant Date (e.g., in case there is no Holding Period, the Vesting Period shall be equal to at least two years from the Grant Date).

 

For purposes of the Continuous Presence Condition, should the relevant Beneficiary be at the same time an employee and a corporate officer of the same company or of two or more companies of the Group, the loss of one or more but not all of these functions during a Vesting Period shall not result in the loss of the right to acquire the relevant free Shares at the end of the relevant Vesting Period.

 

Pursuant to Article L. 225-197-3 of the French commercial code, during a Vesting Period, the Beneficiaries hold against the Company a right to acquire the relevant free Shares granted to him or her, which right is personal and may not be transferred until the end of the relevant Vesting Period.

4

 

 

Prior to the completion of a Vesting Period of free Shares, the Beneficiaries do not own the relevant free Shares granted to them and, thus, are not shareholders of the Company with respect to such Shares, nor do they hold any rights attached to the existing Shares issued by the Company, including that prior to the completion of a Vesting Period of free Shares, no holder of free Shares will be entitled to receive any dividends or other distributions paid with respect to the free Shares.  

 

6.2 Internal mobility

 

In the event of transfer or temporary assignment of the Beneficiary within a company of the Group during a Vesting Period, resulting in (i) the termination of the initial employment agreement or arrangement and the entering into of a new employment agreement or arrangement or of a position as corporate officer, and/or (ii) a resignation of the Beneficiary from his or her position as corporate officer and the acceptance of a new position of corporate officer or the entering into of a new employment agreement or arrangement in one of such companies, the Continuous Presence Condition of the relevant Beneficiary shall be deemed satisfied for purposes of Article 6.1 above so that the relevant Beneficiary shall retain his or her right to acquire free Shares at the end of the relevant Vesting Period.

 

6.3 Disability 

 

In the event of Disability before the end of a Vesting Period, the relevant free Shares shall be definitively acquired by the relevant Beneficiary on the date of his or her Disability.

 

 

6.4 Death

 

In the event of death of a Beneficiary during a Vesting Period, the relevant free Shares shall be definitively acquired on the date of a request for acquisition ( demande d'attribution des actions ) notified to the Company by his or her estate; provided that such request shall be notified to the Company within six (6) months from the date of death of the relevant Beneficiary in compliance with Article L. 225-197-3 of the French commercial code.

 

6.5 Retirement

 

In the event of retirement of a Beneficiary during a Vesting Period, the Board of Directors of the Company may decide, effective on the date of such retirement, that all or part of the conditions set forth in Article 6.1 applicable to the relevant Beneficiary pursuant to his or her Grant Notice shall be waived or deemed met for all or part of the relevant Shares granted to him or her; provided , however, that the Continuous Presence Condition of the relevant Beneficiary shall have been satisfied between the Grant Date of the relevant free Shares and the date of his or her retirement.

 

6.6 Change in Control

 

Unless otherwise provided by the Board of Directors, an agreement between a Group company and the Beneficiary or in the applicable Grant Notice, in the event of a Change in Control:

 

(i) Where the successor corporation or parent or subsidiary of the successor corporation does not agree to assume or substitute for any outstanding Grant, for each Grant that is not assumed or substituted for and for which the consummation of the Change in Control occurs, should the Change in Control occur before the first anniversary of the Grant Date : all the Shares shall become fully and definitely acquired by the relevant Beneficiary on the first anniversary

5

 

 

of the Grant Date; provided that (a) the Continuous Presence Condition shall be satisfied on the first anniversary of the Grant Date, (b) if not satisfied earlier, the Performance Conditions (if any) shall be satisfied automatically as if the Performance Conditions were achieved at target levels of performance on the first anniversary of the Grant Date, and (c) the relevant Shares shall be automatically subject to a mandatory additional 1-year Holding Period starting on the first anniversary of the Grant Date.

 

(ii) Where the successor corporation or parent or subsidiary of the successor corporation does not agree to assume or substitute for any outstanding Grant, for each Grant that is not assumed or substituted for and for which the consummation of the Change in Control occurs, should the Change in Control occur on or after the first anniversary of the Grant Date : all the Shares shall become fully and definitely acquired by the relevant Beneficiary on the date of completion of the Change in Control (such date being the Vesting Date for purposes of this paragraph (ii)); provided that, should the date of completion date of the relevant Change in Control occur between the first and the second anniversary of the Grant Date, (a) the Continuous Presence Condition shall be satisfied on the completion date of the Change in Control, (b) if not satisfied earlier, the Performance Conditions (if any) shall be satisfied automatically as if the Performance Conditions were achieved at target levels of performance on the completion date of the Change in Control and (c) the relevant Shares shall be automatically subject to a mandatory additional Holding Period starting on the completion date of the Change in Control until the second anniversary of the Grant Date.

 

(iii) Notwithstanding anything in Article 6.6(i) or (ii) to the contrary, and except as would otherwise result in adverse tax consequences under Section 409A of the U.S. Internal Revenue Code (“ Section 409A ”), at any time prior to the completion date of the Change in Control, the Board of Directors may, in its sole discretion, provide for different treatment of free Shares in connection with a Change in Control, including, without limitation, cancelling all or part of the free Shares not yet acquired and paying instead to the relevant Beneficiaries a gross indemnity equal to the number of relevant free Shares (and Performance Conditions (if any) shall be satisfied automatically as if the Performance Conditions were achieved at target levels of performance) times the price per Share paid by the acquirer in the Change in Control, subject to such conditions as the Board of Directors determines in its discretion. The Board of Directors shall not be required to treat all Grants similarly for purposes of this Article 6.6.

 

(iv) For the purposes of this Article 6.6, a Grant will be considered assumed or substituted if, (a) following the Change in Control, the Grant confers the right to receive, for each Free Share subject to the Grant immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) or the fair market value, as determined by the Board of Directors in good faith, of the consideration received in the Change in Control by holders of ordinary shares of the Company for each such share held on the effective date of the transaction; provided , however, that if such consideration received in the Change in Control is not solely common stock or ordinary shares of the successor corporation or its parent, the Board of Directors may, with the consent of the successor corporation, provide that the consideration to be received for each Free Share shall be solely common stock or ordinary shares of the successor corporation or its parent equal in fair market value, as determined by the Board of Directors in good faith, to the per share consideration received by holders of ordinary shares of the Company in the Change in Control; (b) any securities of the successor corporation or its parent forming part of the Grant following the Change in Control are freely tradable on a major stock exchange; and (c) the Grant otherwise remains

6

 

 

subject to the same terms and conditions that were applicable to the Grant immediately prior to the Change in Control.

 

Unless a Beneficiary is a party to a contract with the Company or any member of the Group providing for more favorable benefits, where the successor corporation or parent or subsidiary of the successor corporation does agree to assume or substitute for any outstanding Grant, in the event that an Involuntary Termination of a Beneficiary occurs within the Change in Control Period, and subject to the terms of the following paragraph (a) the Continuous Presence Condition shall be satisfied on the 55 th day following such Involuntary Termination (or, if later and if necessary to satisfy any applicable Laws, the first anniversary of the Grant Date), (b) if not satisfied earlier, the Performance Conditions (if any) shall be satisfied automatically as if the Performance Conditions were achieved at target levels of performance on the 55 th following such Involuntary Termination (or, if later and if necessary to satisfy any applicable Laws, the first anniversary of the Grant Date), and (c) to the extent necessary to satisfy any applicable laws, the relevant Shares (or any securities substituted therefor) shall be automatically subject to a mandatory additional 1-year Holding Period starting on the first anniversary of the Grant Date.

 

The receipt of the benefits set forth in the immediately preceding paragraph is subject to the Beneficiary signing and not revoking the Company’s then-standard separation agreement and release of claims (which may include an agreement not to disparage any member of the Group, non-solicit provisions, and other standard terms and conditions) (the “ Release ” and such requirement, the “ Release Requirement ”), which must become effective and irrevocable no later than the 60th day following the Beneficiary’s Involuntary Termination (the “ Release Deadline ”).  In addition, with respect to any Beneficiary that is a U.S. taxpayer, to the extent the benefits under the preceding paragraph qualify as deferred compensation under Section 409A, they will not be provided until the Beneficiary has a “separation from service” (within the meaning of Section 409A) and if the Beneficiary is a “specified employee” within the meaning of Section 409A, then the benefits will be delayed to the extent necessary to avoid the imposition of the additional tax imposed under Section 409A, which means that the Beneficiary will receive payment on the date that is six months and one day following the Beneficiary’s separation from service, or, if earlier, the Beneficiary’s death.  Each benefit is intended to constitute a separate payment for purposes of U.S. Treasury Regulation Section 1.409A-2(b)(2).

 

7. Holding Period

 

7.1 Principle

 

During a Holding Period of free Shares, if any, the relevant Beneficiaries will be the owner of the free Shares granted under the 2019 Plan and will be shareholders of the Company. As a consequence, they will benefit from all the rights granted to shareholders of the Company.

 

However, the free Shares shall not be available during a Holding Period and the Beneficiaries may not transfer or pledge the Shares, by any means, or convert them into bearer form.

 

At the end of a Holding Period, the relevant Shares will be fully available, subject to the provisions of the following paragraph.

 

If and when the Company’s shares become listed on a French regulated market of Euronext in Paris (if applicable), at the end of a Holding Period, the free Shares granted under the 2019 Plan may not be transferred during the “black-out” periods set forth in Article L. 225-197-1 of the French commercial code, i.e., as currently provided:

7

 

 

-  within ten (10) Trading Days before and three (3) Trading Days after the date on which the consolidated accounts are published or, in case the Company is not required to prepare consolidated accounts, its annual statutory accounts are published;

 

-  during the period between (i) the date when the Company's management has knowledge of information which, if publicly known, could have a significant impact on the price of the Shares, and (ii) the date following a ten (10) Trading Day period after the date on which the relevant information is released publicly.

 

7.2 Specific situations

 

As an exception to the second paragraph of Article 7.1 above, the free Shares granted to the Beneficiaries referred to in Article 6.3 above or to the beneficiaries of a deceased Beneficiary referred to in Article 6.4 above may be freely transferred as from the date when the relevant Shares become acquired pursuant to Article 6.3 or 6.4, as applicable.

 

8. Characteristics of the Shares

 

The Shares definitively acquired shall be, at the Company’s option, new ordinary shares to be issued by the Company or existing ordinary Shares acquired by the Company.

 

As from its Vesting Date, an acquired Share shall be subject to all the provisions of the Bylaws.

 

An acquired Share shall be assimilated to existing ordinary shares of the Company and shall benefit from the same rights as from its Vesting Date.

 

In compliance with article L. L225-197-1, I of the French commercial code, the Board of Directors has determined that, should a Beneficiary be an officer of the Company (i.e., managing director ( directeur général ) or deputy managing director ( directeur général délégué ), the relevant Beneficiary shall keep in registered form ( nominatif pur ) at least 10% of his or her free Shares until the termination of his or her functions as officer of the Company.

 

9. Delivery and holding of the Shares

 

At the end of a Vesting Period, the Company shall deliver to the Beneficiary the relevant free Shares granted under the 2019 Plan provided that the applicable conditions provided by Article 6 above are met.

 

If a Vesting Date is not a working day, the delivery of the Shares shall be completed the first working day following the end of the relevant Vesting Period.

 

The Shares that may be acquired under the 2019 Plan will be held, during the Holding Period (if any), under the registered form ( nominatif pur ) in an individual account opened in the name of the relevant Beneficiary at BNP Paribas Securities Services with a mention that they cannot be transferred prior to the expiration of the Holding Period (if any). 

 

If and when the Company becomes listed on the French regulated market of Euronext in Paris (if applicable), at the end of a Holding Period (or the end of a Vesting Period if there is no Holding Period), the relevant Shares will have to remain under the nominative form ( nominatif pur ) at BNP Paribas Securities Services until the time they are transferred to make sure that the restrictions set

8

 

 

forth in the last paragraph of Article 7.1 above are complied with. The conversion of the Shares in another form (bearer form or nominatif administré ) is not allowed under the rules of the 2019 Plan.

 

In the event that, as a consequence of the Grant of free Shares under the 2019 Plan, the Company or any of the companies of the Group shall be compelled to pay taxes, social costs or any other social security taxes or contributions in the name and on behalf of a Beneficiary, the Company retains the right to postpone or to forbid the delivery of the Shares on the Vesting Date until the relevant Beneficiary has paid to the Company or to the relevant company of the Group the amount corresponding to these taxes, social costs, or social security taxes or contributions.

 

10. Intermediary operations

 

In the event of an exchange of shares of the Company without payment in cash ( soulte ) resulting from a merger or spin-off of the Company completed in compliance with the applicable laws during a Vesting Period or a Holding Period, the parties receiving the shares of the Company in the relevant transaction shall substitute to the Company for purposes of the free Shares granted under the 2019 Plan and the terms and conditions of the 2019 Plan, including in particular the durations of the Vesting Period and of the Holding Period (if any) shall survive and apply to the rights and shares received by the Beneficiaries from the relevant receiving parties in compliance with article L. 225-197-1 III of the French commercial code.

 

Further, provisions of the previous paragraph shall apply mutatis mudandis in case of an exchange of shares of the Company resulting from a tender offer, a division or a grouping of shares completed during the Holding Period (if any) in compliance with applicable laws.

 

 

11. Adjustment

 

Should the Company proceed, during a Vesting Period, to an amortization, to a decrease of its share capital, to an amendment of the allocation of its profits among its shareholders, to a Grant of free Shares to all its then existing shareholders, to a capitalization of reserves, profits or issue premiums, to an allocation of reserves or to an issuance of equity securities or giving right to the allocation of equity securities including a preferential subscription right reserved to the shareholders, the maximum number of Shares granted under the 2019 Plan may be adjusted in order to take into account the impact of such operation by application, mutatis mutandis , of the adjustment provisions set forth under applicable French law to the holders of stock options ( options de souscription ou d’achat d’actions ).

 

Each Beneficiary shall be informed of the terms of the relevant adjustment and of the consequences on the free Shares granted to him or her under the 2019 Plan; provided that the additional new free Shares which would be granted to him or her as a result of such adjustment shall be governed by the 2019 Plan.

 

 

12. Amendment OF the 2019 Plan 

 

12.1 Principle

 

The 2019 Plan may be amended by the Board of Directors at any time; provided that no amendment, alteration, suspension or termination of the 2019 Plan shall impair the rights of any Beneficiary without the prior written consent of the relevant Beneficiary.

9

 

 

In case of any amendment during a Vesting Period, the amended provisions shall apply to the Beneficiaries of the Shares effective on the date of the decision to amend the 2019 Plan taken by the Board of Directors or, if applicable, the written consent of the Beneficiary.

 

12.2 Notice of the amendments

 

Any amendment to the 2019 Plan shall be notified to the Beneficiaries by any written means, including by regular mail, fax or e-mail.

 

13. Tax and social rules

 

The Beneficiary shall bear all taxes and costs imposed on him or her under applicable laws in connection with the Grant of free Shares to him or her under the 2019 Plan and shall pay such taxes and costs when due.

 

Each Beneficiary shall be solely liable with respect to any filing imposed on him or her in connection with the Grant of the free Shares to him or her under the 2019 Plan.

 

 

14. Miscellaneous

 

14.1 Rights of Beneficiary in his or her capacity of employee or officer

 

Neither the 2019 Plan nor any right granted to a Beneficiary in connection with the Grant of free Shares shall confer upon such Beneficiary any right with respect to continuing the Beneficiary's employment or his term of office with the Company or any company of the Group, nor shall they interfere in any way with the Beneficiary's right or the Company's or company of the Group's right, as the case may be, to terminate or amend such employment or such term of office at any time, with or without cause.

 

14.2 Applicable law - Jurisdiction

 

The 2019 Plan shall be governed by and construed in accordance with the laws of France. The relevant court of the registered office of the Company shall be exclusively competent to determine any claim or dispute arising in connection herewith.

 

14.3 Provisions Applicable to Beneficiaries Located Outside of France

 

To facilitate compliance with laws and the administration of the 2019 Plan in countries outside of France, the Board of Directors may (i) establish subplans and modify the terms and conditions of, as well as the procedures and rules applicable to, Grants of free Shares to Beneficiaries residing and/or providing services outside of France and in particular locations, and (ii) take any action, before or after Grant is made, that it deems advisable to obtain approval or comply with any necessary local governmental regulatory exemptions or approvals. Without limiting the generality of the foregoing, the Board of Directors may adopt rules, procedures and subplans with provisions that (A) limit or modify rights on eligibility to receive a Grant under the 2019 Plan or rights applicable upon death, disability, retirement, termination of employment and Change in Control, and (B) address the payment of income tax, social insurance contributions and payroll taxes, withholding procedures and handling of any indicia of ownership of the Shares which may vary with local requirements.

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Acknowledgement of 2019 Plan

 

 

By accepting a Grant under the 2019 Plan through the Company's electronic acceptance procedure, the Beneficiary represents that he or she has been provided with a copy of the 2019 Plan which he or she has perused and acknowledges and agrees that the provisions of the 2019 Plan apply to and are enforceable against him or her.

 

11

 

Exhibit 10.2

[Talend’s letterhead]  

 

 

 

[Beneficiary’s name]

 

[Personal address]

On [____], 20[  ]

 

 

By electronic delivery

 

Re:

 

[Madam/Sir],

 

We are pleased to inform you (the “ Beneficiary ”) that, pursuant to the authorization granted by the shareholders of Talend, a French société anonyme (the “ Company ”) at their meeting held on June 25 th , 2019, the Company's board of directors (the “ Board ”), during its meeting held on [____], 20[    ] (the “ Grant Date ”), has granted you a total number (the “ Total Grant ”) of [____] free shares ( actions gratuites ) of the Company (the “ RSUs ”), par value EUR 0.08 each, subject to the terms and conditions of this Grant Notice (including any applicable exhibits and appendices attached hereto) (the “ Grant Notice” ) and the plan approved by the Board on August 2 nd , 2019 (the “ 2019 Plan ”), a copy of which is attached hereto. Unless otherwise defined herein, capitalized terms used in this Grant Notice have the same meanings given to such terms in the 2019 Plan.

 

The RSUs are governed by articles L. 225-197-1 et seq. of the French commercial code. They are not part of the employment agreement or of the office which has allowed you to be granted the RSUs, nor do they constitute an element of your remuneration.

 

In compliance with the 2019 Plan and applicable French law, the acquisition of your RSUs will be effective and final (i.e., the underlying Shares will be issued to you and be your property) as they vest during the Vesting Period (as described below), unless you cease to be an employee and/or officer of the Group for any reason whatsoever during the Vesting Period and thus the Continuous Presence Condition set forth in the 2019 Plan is not met; provided , however, that the acquisition date of your RSUs may be accelerated under certain terms and conditions as set forth in the 2019 Plan or in this Grant Notice; and provided further , however, that the acquisition date of your RSUs may be accelerated in accordance with the terms of certain Company policies affecting Beneficiary and/or agreements between any member of the Group and Beneficiary, including, without limitation, any change of control and severance agreement between any member of the Group and Beneficiary.

Unless otherwise elected on the election form on Appendix 1 (the “ Election Form #1 ”), the Vesting Period of your RSUs is as follows (the “ Standard Vesting Scheme ”):

 

 

Vesting Period/Date

Vested RSUs

On [            ], 20[    ] (“ First Vesting Date ”)

[   ]% of Total Grant

Thereafter, [             ].

[          ]

As an exception to the foregoing, unless you have elected for the Optional Accelerated Vesting Period in the Election Form #1, in case of termination of your Presence in the Group for any reason whatsoever (other than upon your retirement, death or Disability, or your termination for Cause) between [             ], 20[    ] (the “ Interim Date ”) and the above First Vesting Date, the following accelerated vesting (the “ Departure Vesting Scheme ”) will apply to your RSUs in lieu of the above Standard Vesting Scheme:

 

 

Vesting Period

Holding Period

Vesting Date

Vested RSUs

On the Accelerated Vesting Date (as defined below).

[  ]% of Total Grant + [  ]% of Total Grant for each full quarter (i.e., each 3-month period) elapsed between the Interim Date and your Departure Date (as defined below).

Holding Period from the Accelerated Vesting Date to [          ], 20[  ] (the “ Mandatory Date ”).

provided that:

(i) For purposes of the Departure Vesting Scheme: (a) the term “ Departure Date ” shall be the date on which your Continuous Presence Condition ceases to be met (other than upon your retirement, death or Disability, or your termination for Cause) between the Interim Date and the First Vesting Date, and (b) the term “ Accelerated Vesting Date ” shall be the date that is the tenth (10 th ) calendar day (or, if such day is not a business day, the next business day) following your Departure Date;

(ii) In case of termination of your Presence in the Group for any reason whatsoever (other than upon your retirement, death or Disability, or your termination for Cause), you shall satisfy any applicable tax withholding obligations by tendering a cash payment to the Company or your Employer in accordance with Section 2(b) of Exhibit A hereto within ten (10) calendar days of your Departure Date; provided that if you fail to satisfy such obligation, the Company will refuse to deliver any Shares hereunder and you will definitively and irrevocably lose your right to acquire any of the Shares hereunder;

(iii) If you timely satisfy your obligations set forth in paragraph (ii), your Vested RSUs calculated based on the above Departure Vesting Scheme shall be effectively and finally acquired on the Accelerated Vesting Date and shall be subject to a Holding Period from the Accelerated Vesting Date through the Mandatory Date. You further shall definitively and irrevocably lose your right to acquire any of your other unvested RSUs as from your Departure Date; and

(iv) For the avoidance of doubt: should you have elected for the Optional Accelerated Vesting Period in the Election Form #1, the Departure Vesting Scheme will not apply to you and instead the Optional Accelerated Vesting Period in the Election Form #1 shall apply.

Further, unless you have elected for the Optional Accelerated Vesting Period in the Election Form #1, if you are terminated for Cause:

(a) should your Presence be terminated before the First Vesting Date, as defined in the Standard Vesting Scheme, you shall definitively and irrevocably lose your right to acquire any of your RSUs as from the date when your Continuous Presence Condition is no longer met;

(b) should your Presence be terminated after the First Vesting Date, as defined in the Standard Vesting Scheme: (a) the above Standard Vesting Scheme (i.e., [  ]% upon the First Vesting Period, etc.) shall apply, and (b) in case some or part of your RSUs have not vested before the termination of your Presence, you will definitively and irrevocably lose your right to acquire the relevant Shares on the date when your Continuous Presence Condition is no longer met; and

(c) none of your Vested RSUs shall be effectively and finally acquired before the First Vesting Date, as defined in the Standard Vesting Scheme.

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Upon effective acquisition of your RSUs and except otherwise set forth in this Grant Notice, the 2019 Plan, and/or the Election Form #1, your RSUs will not be subject to an additional Holding Period.

The other terms and conditions of your RSUs are further detailed in the 2019 Plan.  In addition, depending on your jurisdiction of residency and/or work, other terms and conditions may apply to your RSUs, as set out in the attached Exhibits A and B.

 

Moreover, if you timely complete and return the Election Form #1 in the attached Appendix 1, certain additional terms may apply to your RSUs that will supersede the provisions set forth in this Grant Notice.

 

In order to effect the Grant of RSUs to you, please sign and return to us via our electronic acceptance procedure no later than on [ notice date + 30 days ], 20[    ] one copy of (i) this Grant Notice (together with duly executed copy of the Election Form #1, if applicable) and (ii) the 2019 Plan, failing which the above Grant shall be null and void as from such date.

 

 

 

 

Yours sincerely,

 

 

 

 

 

[

 

]

 

 

Acknowledgement of Grant Notice

 

 

By accepting the Grant through the Company's electronic acceptance procedure, the Beneficiary represents that he or she has perused this Grant Notice (including Exhibits A and B, as well as Appendix 1, if applicable) which he or she accepts, and acknowledges that he or she is bound by this Grant Notice as from the date of such acceptance.

 

 

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Exhibit A

to

Grant Notice

Talend 2019 Free Share Plan

 

Provisions for All Beneficiaries

 

 

This Exhibit A includes additional (or if so indicated, different) terms and conditions that govern the RSUs. 

 

1. Non-Transferability of RSUs .  The RSUs may not be transferred in any manner otherwise than by will or by the laws of descent or distribution.  The terms of the 2019 Plan and this Grant Notice shall be binding upon the executors, administrators, heirs, successors and assignees of the Beneficiary.

 

2.   Tax Obligations .  

 

(a) Responsibility for Taxes.  The Beneficiary acknowledges that, regardless of any action taken by the Company or, if different, the Beneficiary’s employer (the “ Employer ”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Beneficiary’s participation in the 2019 Plan and legally applicable to the Beneficiary (“ Tax-Related Items ”) is and remains the Beneficiary’s responsibility and may exceed the amount actually withheld by the Company or the Employer, if any.  The Beneficiary further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including, but not limited to, the grant of the RSUs, the acquisition of the Shares, the lifting of any restrictions on the Shares, the subsequent sale of the Shares acquired under the 2019 Plan and the receipt of any dividends or other distributions on the Shares, and (ii) do not commit to and are under no obligation to structure the terms of the Grant or any aspect of the RSUs to reduce or eliminate the Beneficiary’s liability for Tax-Related Items or achieve any particular tax result.  The Beneficiary acknowledges and agrees that the Company may refuse to deliver the Shares or the proceeds of the sale of Shares if the Beneficiary fails to comply with the Beneficiary’s obligations in connection with the Tax-Related Items.

(b) Tax Withholding . Prior to any relevant taxable or tax withholding event, as applicable, the Beneficiary agrees to make appropriate arrangements with the Company and/or the Employer for the satisfaction of all Tax-Related Items. In this regard, to the extent permissible under local law, the Beneficiary authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the withholding obligation for Tax-Related Items by one or a combination of the following:

(i)  requiring the Beneficiary to tender a cash payment to the Company or the Employer in the amount of the Tax-Related Items;

(ii) withholding from the Beneficiary’s wages or other cash compensation paid to the Beneficiary by the Company or the Employer;

(iii)  withholding from proceeds of the sale of Shares acquired under the 2019 Plan, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Beneficiary’s behalf pursuant to this authorization without further consent); and/or

(iv) any other method permitted under the 2019 Plan and applicable law.

The withholding obligation for Tax-Related Items with respect to RSUs acquired (if any) prior to the Mandatory Date shall be satisfied by Beneficiary tendering a cash payment to the Company or the Employer in the amount of the Tax-Related Items.

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Unless the “Cash Default Withholding” box is checked on the Election Form #1, the withholding obligation for Tax-Related Items with respect to RSUs acquired on or after the First Vesting Date (as defined in the Standard Vesting Scheme) shall be satisfied through a mandatory sale arranged by the Company (on Beneficiary’s behalf pursuant to this authorization without further consent) until otherwise determined by the Board in its sole discretion.

 

Depending on the withholding method and to the extent permitted under the 2019 Plan and applicable law, the Company and/or the Employer may withhold or account for Tax-Related Items by considering minimum statutory withholding amounts or other applicable withholding rates, including maximum rates applicable in a jurisdiction (in which case the Beneficiary will receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent amount in Shares). 

 

If the Beneficiary is subject to Tax-Related Items in more than one jurisdiction, the Beneficiary acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

 

3. Nature of Grant .  In accepting the Grant, the Beneficiary acknowledges, understands and agrees that:

 

(a) the 2019 Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the 2019 Plan and this Grant Notice;

(b) the Grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs have been granted in the past;

(c) all decisions with respect to future RSU grants, if any, will be at the sole discretion of the Company;

(d) the Beneficiary’s participation in the 2019 Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Employer to terminate the Beneficiary’s employment relationship at any time with or without cause;

(e) the Beneficiary is voluntarily participating in the 2019 Plan;

(f) the RSUs and the Shares subject to the RSUs, and the income and value of the same, are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company or the Employer, and which are outside the scope of the Beneficiary’s employment contract, if any;

(g) the RSUs and the Shares subject to the RSUs, and the income and value of the same, are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long service awards, pension or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Employer;

(h) the RSUs and the Shares subject to the RSUs are not intended to replace any pension rights or compensation;

(i) the RSU grant will not be interpreted to form an employment contract with the Company, the Employer or any affiliated entity of the Company;

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(j) the future value of the underlying Shares is unknown and cannot be predicted with certainty;

(k) no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from termination of the Beneficiary’s Presence (regardless of the reason for the termination and whether or not the termination is later found to be invalid or in breach of employment laws in the jurisdiction where the Beneficiary is employed or the terms of the Beneficiary’s employment agreement, if any);

(l) in the event of termination of the Beneficiary’s Presence, the Beneficiary’s right to receive all or part of his/her unvested RSUs and to acquire the relevant Shares as, if any, will terminate effective as of the date the Beneficiary receives notice of termination regardless of when such termination is effective; the Company shall have the exclusive discretion to determine when the Beneficiary’s Presence has terminated for purposes of the RSUs; any period of notice, or compensation in lieu of such notice, that is given or ought to have been given under any contract, statute, common law or civil law shall be excluded from the period of the Beneficiary’s Presence; and

(m) neither the Company nor any of its affiliated entities shall be liable for any foreign exchange fluctuation between the Beneficiary’s local currency and the United States dollar or any other currency that may affect the value of the RSUs, or the value of any amount due to the Beneficiary pursuant to the RSUs or the subsequent sale of any Shares acquired under the 2019 Plan. 

4. No Advice Regarding Grant. The Company is not providing any tax, legal, or financial advice nor is the Company making any recommendations regarding the Beneficiary’s participation in the 2019 Plan or the Beneficiary’s acquisition or sale of the underlying Shares.  The Beneficiary should consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the 2019 Plan before taking any action related to the 2019 Plan.

5. Data Privacy .  

For Beneficiaries in the European Union / European Economic Area / Switzerland

The Beneficiary is hereby informed that the Company will process personal data of the Beneficiary for the exclusive purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan. Such processing of personal data implies the collection, use and transfer, in electronic or other form, of the Beneficiary’s personal data as described in this document by and among, as applicable, the Employer, the Company and its affiliated entities. The legal basis of such processing is the performance of the Grant.

The Beneficiary understands that the Company and the Employer may hold certain personal information about the Beneficiary, including, but not limited to, the Beneficiary’s name, home address and telephone number, e-mail address, date of birth, social insurance number or other identification number (e.g., resident registration number), salary, nationality, passport number, job title, any shares or directorships held in the Company, details of all RSUs or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in the Beneficiary’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the 2019 Plan. The Company may collect such Data from the Employer.

The Beneficiary understands that Personal Data may be transferred to Solium Shareworks or any other third parties assisting, as data processors, in the implementation, administration and management of the 2019 Plan.  The Beneficiary understands that the recipients of Data may be located in the United States or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Beneficiary’s country.  When required for transfers of the Data to a recipient located in a country outside of the EU, the Company implements adequate legal safeguards such as appropriate contractual clauses. The Beneficiary understands that he or she may

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request a list with the names and addresses of any potential recipients of Data, as well as confirmation of the legal safeguards implemented – and a copy of the contractual clauses securing the transfer, if any – by contacting the Beneficiary’s local human resources representative. The Beneficiary authorizes the Company, Solium Shareworks and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the 2019 Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan, including any requisite transfer of such Data to   Solium Shareworks or another third party with whom the Beneficiary may elect to deposit any Shares received under the 2019 Plan.

The Beneficiary understands that Data will be held only as long as is necessary to implement, administer and manage the Beneficiary’s participation in the 2019 Plan.  The Beneficiary understands that he or she may, at any time access the Data, require any necessary amendments to Data, exercise its rights to erasure and restriction, right to object, right to Data portability, by contacting the Beneficiary’s local human resources representative. 

The processing of the Beneficiary’s Data is necessary for the performance of the Grant. If the Beneficiary objects to the processing of his/her Data in relation to the Grant, his or her employment status would not be affected; the only consequence of such objection is that the Company would not be able to grant the RSUs to the Beneficiary or administer or maintain the RSUs.  Therefore, the Beneficiary understands that objecting to the processing may affect the Beneficiary’s ability to participate in the 2019 Plan. Beneficiary also has the right to lodge a complaint with a supervisory authority in relation to the processing of his Data.

For Beneficiaries outside of the European Union / European Economic Area / Switzerland

The Beneficiary hereby explicitly and unambiguously consents to the processing of personal data of the Beneficiary for the exclusive purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan. Such processing of personal data implies the collection, use and transfer, in electronic or other form, of the Beneficiary’s personal data as described in this document by and among, as applicable, the Employer, the Company and its affiliated entities. The legal basis of such processing is the Beneficiary's consent.

The Beneficiary understands that the Company and the Employer may hold certain personal information about the Beneficiary, including, but not limited to, the Beneficiary’s name, home address and telephone number, e-mail address, date of birth, social insurance number or other identification number (e.g., resident registration number), salary, nationality, passport number, job title, any shares or directorships held in the Company, details of all RSUs or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in the Beneficiary’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the 2019 Plan. The Company may collect such Data from the Employer.

The Beneficiary understands that Personal Data may be transferred to Solium Shareworks or any other third parties assisting in the implementation, administration and management of the 2019 Plan.  The Beneficiary understands that the recipients of Data may be located in the United States or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Beneficiary’s country. The Beneficiary understands that he or she may request a list with the names and addresses of any potential recipients of Data by contacting the Beneficiary’s local human resources representative. The Beneficiary authorizes the Company, Solium Shareworks and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the 2019 Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan, including any requisite transfer of such Data to   Solium Shareworks or another third party with whom the Beneficiary may elect to deposit any Shares received under the 2019 Plan.

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The Beneficiary understands that Data will be held only as long as is necessary to implement, administer and manage the Beneficiary’s participation in the 2019 Plan.  The Beneficiary understands that he or she may, at any time access the Data, require any necessary amendments to Data, exercise its rights to erasure and restriction, right to object, right to Data portability, by contacting the Beneficiary’s local human resources representative. 

Further, the Beneficiary understands that he or she is providing the consents herein on a purely voluntary basis. If the Beneficiary does not consent, or if the Beneficiary later seeks to withdraw his or her consent, his or her employment status would not be affected; the only consequence of refusing or withdrawing consent is that the Company would not be able to grant the RSUs to the Beneficiary or administer or maintain the RSUs.  Therefore, the Beneficiary understands that refusing or withdrawing the Beneficiary’s consent may affect the Beneficiary’s ability to participate in the 2019 Plan.  For more information on the consequences of refusal to consent or withdrawal of consent, the Beneficiary may contact the Beneficiary’s local human resources representative.

6. Country-Specific Provisions .  The RSUs and any Shares subject to or acquired pursuant to the RSUs shall be subject to any special terms and conditions set forth for the Beneficiary’s country in Exhibit B .  Moreover, if the Beneficiary relocates to one of the countries included in Exhibit B , the special terms and conditions for such country will apply to the Beneficiary to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. 

7. Imposition of Other Requirements . The Company reserves the right to impose other requirements on the RSUs and any Shares subject to or acquired upon vesting of the RSUs, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Beneficiary to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

8. Exchange Control, Tax and/or Foreign Asset/Account Reporting . The Beneficiary acknowledges that there may be exchange control, tax, foreign asset and/or account reporting requirements which may affect the Beneficiary’s ability to acquire or hold Shares acquired under the 2019 Plan or cash received from participating in the 2019 Plan (including from any dividends or other distributions paid on Shares acquired under the 2019 Plan) in a brokerage/bank account or legal entity outside the Beneficiary’s country.  The Beneficiary may be required to report such accounts, assets, the balances therein, the value thereof and/or the transactions related thereto to the tax or other authorities in the Beneficiary’s country.  The Beneficiary also may be required to repatriate sale proceeds or other funds received as a result of participation in the 2019 Plan to the Beneficiary’s country through a designated bank or broker or within a certain time after receipt.  The Beneficiary acknowledges that it is his or her responsibility to be compliant with such regulations.

9. Insider Trading Restrictions / Market Abuse Laws . The Beneficiary acknowledges that he or she may be subject to insider trading restrictions and/or market abuse laws which may affect the Beneficiary’s ability to acquire or sell Shares or rights to Shares (e.g., the RSUs) during such times as the Beneficiary is considered to have “insider information” regarding the Company (as defined by any applicable law).  Any restriction under these laws or regulations is separate from and in addition to any restriction that may be imposed under any applicable Company insider trading policy.

10. Electronic Delivery and Participation . The Company may, in its sole discretion, decide to deliver any documents related to the RSUs and participation in the 2019 Plan by electronic means or to request the Beneficiary’s consent to participate in the 2019 Plan by electronic means.  The Beneficiary hereby consents to receive such documents by electronic delivery and agrees to participate in the 2019 Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company.

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11. Waiver . The Beneficiary acknowledges that a waiver by the Company of breach of any provision of this Grant Notice shall not operate or be construed as a waiver of any other provision of this Grant Notice or of any subsequent breach by the Beneficiary or any other Beneficiary.

12. Entire Agreement . The 2019 Plan is incorporated herein by reference.  The 2019 Plan and this Grant Notice constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Beneficiary with respect to the subject matter hereof, and may not be modified adversely to the Beneficiary’s interest except by means of a writing signed by the Company and the Beneficiary.

13. Governing Law; Venue   This Grant Notice is governed by the laws of the Republic of France.  Any claim or dispute arising under the 2019 Plan or this Grant Notice shall be subject to the exclusive jurisdiction of the court competent for the place of the registered office of the Company.

14. U.S. Taxpayers .  The following provisions apply if the Beneficiary is subject to taxation in the United States without regard to the country of residence of the Beneficiary.

(a) The Shares that become definitively acquired (vest) pursuant to Article 6 of the 2019 Plan shall be issued to the Beneficiary upon the date they become definitely acquired (vest) and in any event no later than 45 days thereafter.  Nothing in the foregoing shall prevent the Holding Period from applying to the Shares that are issued to the Beneficiary or shall otherwise contravene any provisions contained in Article 7.

(b) It is intended that the RSUs are exempt from or compliant with Section 409A of the U.S. Internal Revenue Code (together with any U.S. Department of Treasury Regulations promulgated and other interpretive guidance issued thereunder, including, without limitation, any such regulations or other guidance that may be issued after the date hereof and any proposed regulations on which taxpayers may rely) (“ Section 409A ”), and the 2019 Plan and this Grant Notice shall be interpreted, construed and operated to reflect such intent. However, notwithstanding any other provision of the 2019 Plan or this Grant Notice, the Board shall have the right in its sole discretion (without any obligation to do so) to adopt such amendments to the 2019 Plan and/or this Grant Notice, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as it determines are necessary or appropriate for the RSUs to comply with the requirements of Section 409A. The Company does not make any representation to the Beneficiary or any other party that the RSUs satisfy the requirements of Section 409A and will have no liability or other obligation to indemnify or hold harmless the Beneficiary or any other party for any tax, additional tax, interest or penalties that the Beneficiary or any other party may incur in the event that any provision of the 2019 Plan and/or this Grant Notice, or any amendment or modification thereof or any other action taken with respect thereto, is deemed to violate any of the requirements of Section 409A.

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Exhibit B

to

Grant Notice

Talend 2019 Free Share Plan

 

Country-Specific Provisions for Beneficiaries Outside of France

 

 

This Exhibit B includes additional (or if so indicated, different) terms and conditions that govern the RSUs if the Beneficiary is in one of the countries listed herein.  If the Beneficiary is a citizen or resident of a country (or if the Beneficiary is considered as such for local law purposes) other than the one in which the Beneficiary is currently residing and/or working, or if the Beneficiary transfers to another country after being granted the RSUs, the Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to the Beneficiary.

 

 

AUSTRALIA

 

Offer Document .   The Company is pleased to provide the Beneficiary with this offer to participate in the 2019 Plan.  This offer document sets out information regarding the Grant of RSUs to Australian resident Beneficiaries of the Company and its affiliates.  The offer is provided by the Company to ensure compliance of the 2019 Plan with the Australian Securities and Investments Commission (“ ASIC ”) Class Order 14/1000 and the relevant provisions of the Corporations Act 2001 .  

 

In addition to the information set out in this Grant Notice, the Beneficiary is also being provided copies of the following documents:

 

(a) the 2019 Plan;

 

(b) 2019 Plan Prospectus; and

 

(c) the International Tax Supplement for Australia.

 

(collectively, the “ Additional Documents ”).

 

The Additional Documents provide further information to help the Beneficiary make an informed investment decision about participating in the 2019 Plan.  Neither the 2019 Plan nor any of the Additional Documents is a prospectus for the purpose of the Corporations Act 2001 .  

 

The Beneficiary should not rely upon any oral statements made in relation to this offer.  The Beneficiary should rely only upon the statements contained in the Grant Notice and the Additional Documents when considering participation in the 2019 Plan.

 

Nature of Plan .  The 2019 Plan is a plan to which Subdivision 83A-C of the Income Tax Assessment Act 1997 (Cth) applies (subject to conditions in the Act).

 

Securities Law Notification . Investment in Shares involves a degree of risk.  Beneficiaries who elect to participate in the 2019 Plan should monitor their participation and consider all risk factors relevant to the acquisition of Shares under the 2019 Plan as set out in the Grant Notice and the Additional Documents.

 

The information contained in this offer is general information only.  It is not advice or information that takes into account Beneficiary’s objectives, financial situation and needs.

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The Beneficiary should consider obtaining his or her own financial product advice from an independent person who is licensed by ASIC to give advice about participation in the 2019 Plan.

 

Additional Risk Factors for Australian Residents .  Beneficiaries should have regard to risk factors relevant to investment in securities generally and, in particular, to the holding of Shares.  For example, the price at which Shares are quoted may increase or decrease due to a number of factors.  There is no guarantee that the price of the Shares will increase.  Factors which may affect the price of Shares include fluctuations in the domestic and international market for listed shares, general economic conditions, including interest rates, inflation rates, commodity and oil prices, changes to government fiscal, monetary or regulatory policies, legislation or regulation, the nature of the markets in which the Company operates and general operational and business risks.

In addition, Beneficiaries should be aware that the Australian dollar value of any Shares acquired under the 2019 Plan will be affected by the Australian dollar / United States dollar exchange rate.  Participation in the 2019 Plan involves certain risks related to fluctuations in this rate of exchange.

 

Information about the   Shares . The offer of the RSUs relates to American Depository Receipts (“ ADRs ”) which evidence American Depository Shares (“ ADSs ”). Each ADR  represents a beneficial interest in one ordinary share of the Company.   ADS holders are not treated as shareholders and do not have shareholder rights.  The depositary, JPMorgan Chase Bank, N.A., is the holder of the ordinary shares underlying the ADSs.

 

A holder of an ADS may exercise voting rights with respect to the ordinary shares represented by the ADSs only in accordance with the provisions of the deposit agreement and not as a direct shareholder. ADS holders are entitled to give the depositary instructions as to how to vote the underlying ordinary shares.

 

Dividends may only be distributed from our distributable profits, plus any amounts held in our available reserves, which are those reserves other than the legal and statutory reserves and revaluation surplus.  ADS holders may be unable to participate in our rights offerings or to elect to receive dividends in shares.  However, the Company does not currently pay dividends and does not intend to pay dividends.

 

The ADRs are traded on the Nasdaq Global Market (“ Nasdaq ”) in the United States of America under the symbol “ TLND ”.

 

Ascertaining the Market Price of Shares .  Beneficiaries may ascertain the current market price of the Shares traded on the Nasdaq at www.nasdaq.com under symbol “TLND”.  The Australian dollar equivalent of that price can be obtained at: http://www.rba.gov.au/statistics/frequency/exchange-rates.html .

 

This will not be a prediction of what the market price per Share or the applicable exchange rate will be when the Shares are issued.

CANADA

 

Securities Law Notification .  The Beneficiary is permitted to sell the Shares acquired under the 2019 Plan through the designated broker appointed under the 2019 Plan, if any, provided the re-sale of the Shares acquired under the 2019 Plan takes place outside of Canada through the facilities of a securities exchange on which the Shares are listed.  The Shares are currently listed on the Nasdaq.

 

The following provisions will also apply to Beneficiaries who are resident in Quebec :

 

Data Privacy .  The following provision supplements Section 5 (Data Privacy) of Exhibit A to the Grant Notice:

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The Beneficiary hereby authorizes the Company and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or non-professional, involved in the administration and operation of the 2019 Plan.  The Beneficiary further authorizes the Company, any of its affiliated entities, as well as a third-party service provider, to disclose and discuss the 2019 Plan with their advisors and to record all relevant information and keep such information in Beneficiary’s employee file.

 

Language Consent .  The parties acknowledge that it is their express wish that the Grant Notice, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

 

Consentement Relatif à la Langue Utilisée.  Les parties reconnaissent avoir expressement souhaité que la convention “Grant Notice”, ainsi que tous les documents, avis et procédures judiciaries, éxecutés, donnés ou intentés en vertu de, ou liés, directement ou indirectement à la présente convention, soient rédigés en langue anglaise.

 

CHINA

 

The following provision shall apply to Beneficiaries who are subject to exchange control restrictions in the People's Republic of China ("PRC"), as determined by the Company in its sole discretion.

 

Exchange Control Restrictions . The Beneficiary understands and agrees that the RSUs and participation in the 2019 Plan are subject to any requirements imposed by the PRC State Administration of Foreign Exchange (" SAFE ") and no Shares will be issued and no funds related to the RSUs and the 2019 Plan will paid to the Beneficiary unless the Company has determined that such issuance and payment can be made in compliance with any such requirements, without any liability to the Company or any of its affiliates.

 

The Beneficiary understands and agrees that the Company may require that any Shares acquired upon vesting of the RSUs be sold (i) immediately upon acquisition, (ii) following termination of the Beneficiary's employment, or (iii) within such other time frame as the Company determines to be necessary or advisable for legal or administrative reasons. The Beneficiary further agrees that the Company is authorized to instruct its designated broker to assist with the sale of such Shares (on the Beneficiary's behalf pursuant to this authorization) and the Beneficiary expressly authorizes the Company’s designated broker to complete the sale of such Shares. The Beneficiary acknowledges that the Company’s designated broker is under no obligation to arrange for the sale of Shares at any particular price. Upon the sale of Shares, the Company agrees to pay to the Beneficiary any cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to any obligation to satisfy Tax-Related Items.

 

The Beneficiary understands and agrees that the Beneficiary will be required to immediately repatriate to China the cash proceeds from the sale of Shares (and any other funds received in relation to the RSUs and the 2019 Plan). The Beneficiary further understands that the repatriation of the cash proceeds (and other funds) will need to be effected through a special exchange control account established by the Company, the Employer or any affiliated entity of the Company, and the Beneficiary hereby consents and agrees that any funds related to the RSUs and the 2019 Plan may be transferred to such special account prior to being delivered to the Beneficiary. The Beneficiary also understands that the Company will deliver the funds to the Beneficiary as soon as practicable, but there may be delays in distributing the funds to the Beneficiary due to exchange control considerations in China. The funds may be paid in U.S. dollars or local currency, at the Company's discretion. If the funds are paid in U.S. dollars, the Beneficiary understands that he or she will be required to open a U.S. Dollar bank account in China into which the funds can be deposited. If the funds are converted to local currency, the Beneficiary acknowledges that the Company is under no obligation to secure any particular currency conversion rate, and there may be delays in converting the funds to local currency. The Beneficiary will bear the

12

risk of any currency conversion rate fluctuation between the date that the Shares are sold (or any other funds are realized) and the date the funds are distributed to the Beneficiary.

 

The Beneficiary agrees to comply with any requirements that may be imposed by the Company in the future to facilitate compliance with exchange control requirements.

 

DENMARK

 

Employer Statement .  The Beneficiary acknowledges that he or she has received an Employer Statement in Danish which sets forth certain prescribed information regarding the RSUs.

 

GERMANY

 

No country-specific provisions.

 

INDIA

 

No country-specific provisions.

 

IRELAND

 

No country-specific provisions.

 

ITALY

 

Plan Document Acknowledgement. The Beneficiary acknowledges that the Beneficiary has been given access to the 2019 Plan, has reviewed the 2019 Plan and the Grant Notice in their entirety and fully understands and accepts all provisions of the 2019 Plan and the Grant Notice.  Further the Beneficiary specifically and expressly approves the following clauses of Exhibit A to the Grant Notice: Section 2 - Tax Obligations; Section 7 - Imposition of Other Requirements; Section 10 - Electronic Delivery and Participation; Section 13 - Governing Law; Venue.

JAPAN

No country-specific provisions.

NETHERLANDS

No country-specific provisions.

SINGAPORE

Securities Law Notification . The grant of the RSUs under the 2019 Plan is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006 Ed.) (“ SFA ”) and is not made with a view to the Shares being subsequently offered for sale to any other party.  The 2019 Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore.  The Beneficiary should note that the RSUs are subject to section 257 of the SFA and the Beneficiary will not be able to make (i) any subsequent sale of the Shares in Singapore or (ii) any offer of such subsequent sale of the Shares subject to the RSUs in Singapore, unless such sale or offer is made (a) more than six months after the date of Grant or (b) pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA (Chapter 289, 2006 Ed.).

CEO and Director Notification Information.  If the Beneficiary is the Chief Executive Officer (“ CEO ”) or a director, associate director or shadow director of an affiliated entity of the Company in Singapore (a “ Singapore Entity ”), the Beneficiary is subject to certain notification requirements under

13

the Singapore Companies Act. Among these requirements is an obligation to notify the Singapore Entity in writing when the Beneficiary receives an interest ( e.g. , RSUs, Shares) or disposes of an interest in the Company or any related companies.  These notifications must be made within two business days of (i) acquiring or disposing of any interest in the Company or any of its affiliated entities or (ii) becoming the CEO or a director, associate director or shadow director if such an interest exists at that time.

SPAIN

Nature of Grant.  The following provision supplements Section 3 (Nature of Grant) of Exhibit A to the Grant Notice:

By accepting the RSUs, the Beneficiary acknowledges that her or she has received a copy of the 2019 Plan.

The Beneficiary further acknowledges, understands and agrees that the Company has unilaterally, gratuitously and discretionally decided to grant RSUs under the 2019 Plan to employees of the Company and its affiliated entities throughout the world.  The decision to grant the RSUs is a limited decision that is entered into upon the express assumption and condition that any Grant will not economically or otherwise bind the Company or any of its affiliated entities on an ongoing basis other than as set forth in this Grant Notice.  Consequently, the Beneficiary understands that any Grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Company or any of its affiliated entities) and shall not be considered a mandatory benefit, salary for any purpose (including severance compensation) or any other right whatsoever.  Further, the Beneficiary understands and freely accepts that there is no guarantee that any benefit shall arise from any gratuitous and discretionary grant since the future value of the RSUs and the Shares is unknown and unpredictable. 

Additionally, the Beneficiary understands that the right to acquire the Shares subject to the RSUs is expressly conditioned on his or her continued and active rendering of service to the Employer (or the Company or an affiliated entity) such that if the Beneficiary’s employment terminates for any reason whatsoever (except as expressly provided in Article 6 of the 2019 Plan), the Beneficiary will definitely and irrevocably lose his or her right to acquire the relevant Shares as described in the 2019 Plan.  This will be the case, for example, even if (a) the Beneficiary is considered to be unfairly dismissed without good cause (i.e., subject to a “ despido improcedente ”); (b) the Beneficiary is dismissed for disciplinary or objective reasons or due to a collective dismissal; (c) the Beneficiary terminates service due to a change of work location, duties or any other employment or contractual condition; (d) the Beneficiary terminates service due to the Company’s or any of its affiliated entity’s unilateral breach of contract; or (e) the Beneficiary’s employment terminates for any other reason whatsoever.  Consequently, upon termination of the Beneficiary’s employment for any of the above reasons, the Beneficiary will automatically lose the right to any Shares that have not been definitively acquired by the Beneficiary prior to the date of termination of employment.

Finally, the Beneficiary understands that this Grant would not be made to the Beneficiary but for the assumptions and conditions referred to herein; thus, the Beneficiary acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any Grant of RSUs shall be null and void.

Securities Law Notification.  No “offer of securities to the public,” as defined under Spanish law, has taken place or will take place in the Spanish territory in connection with the RSUs. This Grant Notice has not been nor will it be registered with the Comisión Nacional del Mercado de Valores , and does not constitute a public offering prospectus.

SWEDEN

No country-specific provisions.

14

SWITZERLAND

 

Securities Law Notification.   The Grant of the RSUs and the issuance of any Shares is not intended to be a public offering in Switzerland.  Neither this document nor any other materials relating to the RSUs constitute a prospectus as such term is understood pursuant to article 652a of the Swiss Code of Obligations, and neither this document nor any other materials relating to the RSUs may be publicly distributed nor otherwise made publicly available in Switzerland.  Neither this document nor any other offering or marketing material relating to the RSUs have been or will be filed with, or approved or supervised by, any Swiss regulatory authority (in particular, the Swiss Financial Market Supervisory Authority (FINMA)).

 

UNITED KINGDOM

 

Tax Obligations . The following provision supplements Section 2 (Tax Obligations) of Exhibit A to the Grant Notice:

 

Without limitation to Section 2 of Exhibit A, the Beneficiary agrees that the Beneficiary is liable for all Tax-Related Items and hereby covenants to pay all such Tax-Related Items as and when requested by the Company or any affiliated entity or by Her Majesty's Revenue and Customs (“ HMRC ”) (or any other tax authority or any other relevant authority). The Beneficiary also agrees to indemnify and keep indemnified the Company and any affiliated entity against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on the Beneficiary’s behalf.

 

Notwithstanding the foregoing, if the Beneficiary is a director or executive officer of the Company (within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision will not apply. In the event that the Beneficiary is such a director or executive officer and the income tax is not collected from or paid by the Beneficiary within ninety (90) days of the end of the U.K. tax year in which an event giving rise to the indemnification described above occurs, the amount of uncollected income tax may constitute a benefit to the Beneficiary on which additional income tax and national insurance contributions may be payable. The Beneficiary will be responsible for reporting and paying any income tax due on this additional benefit directly to the HMRC under the self-assessment regime and for paying the Company or the Employer, as applicable, for the value of any employee national insurance contributions due on this additional benefit.

 

Section 431 Election . The Beneficiary acknowledges and agrees that if requested by the Company or the Employer, the Beneficiary will enter into, jointly with the Employer, the joint election within Section 431 of the U.K. Income Tax (Earnings and Pensions) Act 2003 (“ ITEPA 2003 ”) in respect of computing any tax charge on the acquisitions of “restricted securities” (as defined in Sections 423 and 424 of ITEPA 2003), and the Beneficiary will not revoke such election at any time.  If applicable, this election will be to treat the Shares as if they were not restricted securities (for U.K. tax purposes only).

 

UNITED STATES

 

No additional country-specific provisions.

15

Appendix 1

to

Grant Notice

Talend 2019 Free Share Plan

 

Election Form #1

I am completing this election form (the “ Election Form #1 ”) in connection with the receipt of the free shares ( actions gratuites ) of the Company (the “ RSUs ”) that are the subject of the grant notice dated _________ __________ (the “ Grant Notice ”) and electing to designate one or both of the following:

The Vesting Period that applies to my RSUs; and/or

The default method for satisfying the Tax Related Items for the Shares I acquire under the RSUs

Optional Accelerated Vesting Period

By checking this box, I hereby elect for the following Vesting Period (the “ Optional Accelerated Vesting Period ”) to apply to the RSUs in lieu of the Standard   Vesting Scheme set forth in my Grant Notice. 

 

 

 

Vesting Date/Period

Vested RSUs

Holding Period

[       ], 20[    ] (the “ First Vesting Date ”)

[    ]% of Total Grant

Holding Period from the First Vesting Date to [        ], 20[    ] (the “ Mandatory Date ”).

Quarterly thereafter until [         ] (or if earlier, the termination date of my Presence)

[  ] % of Total Grant

For any RSUs that vest before the Mandatory Date, then a Holding Period shall apply to the relevant RSUs from their Vesting Date to the Mandatory Date.

 

Acknowledgements

By checking the box immediately above, I acknowledge and agree to the following:

1. For any RSUs that I acquire before the Mandatory Date, I agree to satisfy any applicable withholding obligation of any related Tax-Related Items by tendering a cash payment to the Company or the Employer in the amount of the Tax-Related Items in advance of such vesting date.  If I fail to make the appropriate arrangements for the payment of any Tax-Related Items when any of these RSUs otherwise are supposed to vest or Tax-Related Items related to RSUs otherwise are due, to the extent permissible under applicable law, the Company may refuse to deliver the Shares or the proceeds of the sale of Shares.

2. The acquisition date of my RSUs may be accelerated under certain terms and conditions as set forth in the 2019 Plan, or in accordance with the terms of certain Company policies affecting me and/or agreements between any member of the Group and me, including, without limitation, any change of control and severance agreement between any member of the Group and me.

16

3. Any Shares that vest before the Mandatory Date pursuant to the Vesting Period above shall be subject to an additional mandatory Holding Period starting on the relevant Vesting Date and expiring on the Mandatory Date. During the Holding Period, I agree and acknowledge that I will not have the ability to dispose of the Shares prior to expiration of the Holding Period to cover the cost of such Tax-Related Items or any other tax obligations associated with the RSUs I acquire prior to the expiration of the Holding Period.

4. My election on this Election Form #1 with respect to the Vesting Period is irrevocable with respect to the RSUs. A new separate Election Form #1 must be submitted with respect to any future grant of restricted stock units.

5. I understand that I may, if I choose, check the box under the “Optional Accelerated Vesting Period” without checking the box under the “Default Tax Withholding Mechanism.”

Default Tax Withholding Mechanism

By checking this box, I hereby elect that, to the extent permitted by applicable law, I shall satisfy any withholding obligation of any Tax-Related Items for any Shares I acquire under my RSUs on or after the Mandatory Date by tendering a cash payment to the Company or the Employer in the amount of the Tax-Related Items in advance of such date (the “ Cash Default Withholding ”).

Acknowledgements

By checking the box immediately above, I acknowledge and agree to the following:

1. Except as otherwise restricted by applicable law, my election of the Cash Default Withholding is irrevocable with respect to the RSUs unless and until otherwise approved by the Board. A new separate Election Form #1 must be submitted with respect to any future grant of restricted stock units.

2. If I fail to make the appropriate arrangements for the payment of any Tax-Related Items via the Cash Default Withholding when the RSUs otherwise are supposed to vest or Tax-Related Items related to RSUs otherwise are due, to the extent permissible under applicable law, the Company may refuse to deliver the Shares or the proceeds of the sale of Shares.

3. I understand that I may, if I choose, check the box under the “Default Tax Withholding Mechanism” without checking the box under the “Optional Accelerated Vesting Period.”

I have received the Grant Notice and 2019 Plan.  I have carefully read, understand and agree to be bound by all of the terms and conditions of the Grant Notice and 2019 Plan.  The Company   has advised me to consult my legal, accountant and/or financial advisor before making any decision about the Election Form #1 .

Nothing herein will be construed as a right to my continued employment or service with the Company or any affiliated entity of the Company for any period and my employment or service may be terminated at any time by me or the Company or my Employer, with or without cause or notice, subject to the provisions of applicable law.

 

Unless this form is timely completed properly and returned to the Company by [ notice date + 30 days ], 20[    ], the RSUs will be granted and issued subject to the terms of the Grant Notice and the 2019 Plan, and this Election Form #1 will have no impact.

Capitalized terms used herein will have the meaning ascribed to them in the Grant Notice or the 2019 Plan (as defined in the Grant Notice), unless otherwise defined herein.

17

If you have any questions regarding this Election Form #1, please contact Aaron Ross, General Counsel, by email at aross@talend.com.

 

 

 

 

BENEFICIARY

   

COMPANY

 

 

 

 

 

 

Signature

 

By

 

 

 

 

 

 

Print Name

 

Print Name

 

 

 

 

 

 

Date

 

Title

 

18

Exhibit 10.3

[Talend’s letterhead]

 

 

 

 

[Beneficiary’s name]

 

[Personal address]

On [____], 20[   ]

 

 

By electronic delivery

 

Re:

 

[Madam/Sir],

 

We are pleased to inform you (the “ Beneficiary ”) that, pursuant to the authorization granted by the shareholders of Talend, a French société anonyme (the “ Company ”) at their meeting held on June 25 th , 2019, the Company's board of directors (the “ Board ”), during its meeting held on [      ], 20[    ] (the “ Grant Date ”), has granted you a total number of [      ]  free shares ( actions gratuites ) of the Company (the “ RSUs ”), par value EUR 0.08 each, subject to the terms and conditions of this Grant Notice (including any applicable exhibits and appendices attached hereto) (the “ Grant Notice ”) and the plan approved by the Board on August 2 nd , 2019 (the “ 2019 Plan ”), a copy of which is attached hereto. Unless otherwise defined herein, capitalized terms used in this Grant Notice have the same meanings given to such terms in the 2019 Plan.

 

The RSUs are governed by articles L. 225-197-1 et seq. of the French commercial code. They are not part of the employment agreement or of the office which has allowed you to be granted the RSUs, nor do they constitute an element of your remuneration.

 

In compliance with the 2019 Plan and applicable French law, you will be entitled to acquire effectively and finally all or part of your RSUs (i.e., the underlying shares will be issued to you and be your property) upon the relevant Vesting Date below (the “ Standard Vesting Scheme ”) subject to the following calendar and performance conditions, and further subject to any election you make on the election form attached as Appendix 1 (the “ Election Form #1 ”):

(i) [   ]% of the Number of Vested Shares (as defined below) (which number shall be rounded down to the nearest full number) on [       ], 20[   ] (the “ First   Vesting Date ”); and

(ii) then, [    ]% of the Number of Vested Shares (which number shall be rounded down to the nearest full number) upon the expiration date of each quarter (i.e., each 3-month period) elapsed between the First Vesting Date and [   ] (any such expiration date being defined as a “ Quarterly Vesting Date ” and together with the First Vesting Date, a “ Vesting Date ”);

provided that the “ Number of Vested Shares ” means the number of RSUs which you effectively will be entitled to acquire on the applicable Vesting Date, calculated as follows:

Number of Vested Shares = X% x NFS

where:

(a) NFS ” is equal to the total number of RSUs granted to you, i.e., [____] RSUs;

(b) X% ” shall be equal to:

[insert performance metric];

provided   further that:

- should the Number of Vested Shares have decimals, such number shall be rounded down to the nearest whole number;

- for purposes of calculation of the Number of Vested Shares, the Company shall notify (the “ Company Notice ”) such amount to you no later than five (5) business days prior to the First Vesting Date, which notice shall also specify the Number of Vested Shares, which amount shall be final and binding and not subject to contest or appeal; and

- should the Number of Vested Shares be less than the total number of RSUs granted to you, you shall lose your right to acquire the balance of your RSUs that is less than the Number of Vested Shares effective on the earlier of (a) the date of the Company Notice or (b) the First Vesting Date.

The acquisition of the relevant Number of Vested Shares on the applicable Vesting Date is further subject to your Continuous Presence Condition set forth in the 2019 Plan being met upon such Vesting Date (i.e., you shall have not ceased to be an officer of the Group for any reason whatsoever upon such Vesting Date); provided , however, that the Vesting Date of your RSUs may be accelerated under certain terms and conditions as set forth in the 2019 Plan or in this Grant Notice; and provided further , however, that the Vesting Date of your RSUs may be accelerated in accordance with the terms of certain Company policies affecting Beneficiary and/or agreements between any member of the Group and Beneficiary, including, without limitation, any change of control and severance agreement between any member of the Group and Beneficiary.

As an exception to the foregoing, unless you have elected for the Optional Accelerated Vesting Period in the Election Form #1, in case of termination of your Presence in the Group for any reason whatsoever (other than upon your retirement, death or Disability, or your termination for Cause) between [      ], 20[   ] (the “ Interim Date ”) and the above First Vesting Date, the following accelerated vesting (the “ Departure Vesting Scheme ”) will apply to your RSUs in lieu of the above Standard Vesting Scheme :  

You will acquire effectively and finally on the Accelerated Vesting Date (as defined below):

(a) [  ]% of the Number of Vested Shares (which number shall be rounded down to the nearest full number; plus

(b) Additional [  ]% of the Number of Vested Shares (which number shall be rounded down to the nearest full number) for each quarter (i.e., each 3-month period) (any such expiration date being defined as a “ Quarterly Vesting Date ”) elapsed between the Interim Date and your Departure Date (as defined below);

provided that,

- for purposes of the Departure Vesting Scheme: (x) the term “ Departure Date ” shall be the date on which your Continuous Presence Condition ceases to be met (other than upon your retirement, death or Disability, or your termination for Cause) between the Interim Date and the First Vesting Date, and (y) the terms “ Accelerated Vesting Date ” or “ Vesting Date ” shall be the date that is the tenth (10th) calendar day (or, if such day is not a business day, the next business day) following your Departure Date; and

2

- the Shares acquired on the Accelerated Vesting Date shall be subject to an additional mandatory Holding Period starting on the Accelerated Vesting Date and expiring on [      ], 20[  ] (the “ Mandatory Date ”).

provided that:

(i) In case of termination of your Presence in the Group for any reason whatsoever (other than upon your retirement, death or Disability, or your termination for Cause), you shall satisfy any applicable tax withholding obligations by tendering a cash payment to the Company or your Employer in accordance with Section 2(b) of Exhibit A hereto within ten (10) calendar days of your Departure Date; provided that if you fail to satisfy such obligation, the Company will refuse to deliver any Shares hereunder and you will definitively and irrevocably lose your right to acquire any Shares hereunder; 

(ii) If you timely satisfy your obligations set forth in paragraph (i), your Vested RSUs calculated based on the above Departure Vesting Scheme shall be effectively and finally acquired on the Accelerated Vesting Date and shall be subject to a Holding Period from the Accelerated Vesting Date through the Mandatory Date. You further shall definitively and irrevocably lose your right to acquire any of your other unvested RSUs as from your Departure Date; and

(iii) For the avoidance of doubt: should you have elected for the Optional Accelerated Vesting Period in the Election Form #1, the Departure Vesting Scheme will not apply to you and instead the Optional Accelerated Vesting Period in the Election Form #1 shall apply.

Further, unless you have elected for the Optional Accelerated Vesting Period in the Election Form #1, if you are terminated for Cause:

(a) should your Presence be terminated before the First Vesting Date, as defined in the Standard Vesting Scheme, you shall definitively and irrevocably lose your right to acquire any of your RSUs as from the date when your Continuous Presence Condition is no longer met;

(b) should your Presence be terminated after the First Vesting Date, as defined in the Standard Vesting Scheme: (a) the above Standard Vesting Scheme shall apply, and (b) in case some or part of your RSUs have not vested before the termination of your Presence, you will definitively and irrevocably lose your right to acquire the relevant Shares on the date when your Continuous Presence Condition is no longer met; and

(c) none of your Vested RSUs shall be effectively and finally acquired before the First Vesting Date, as defined in the Standard Vesting Scheme.

Upon effective acquisition of your RSUs and except otherwise set forth in this Grant Notice, the 2019 Plan, and/or the Election Form #1, your RSUs will not be subject to an additional Holding Period.

 

The other terms and conditions of your RSUs are further detailed in the 2019 Plan.  In addition, depending on your jurisdiction of residency and/or work, other terms and conditions may apply to your RSUs, as set out in the attached Exhibits A and B.

 

Moreover, if you timely complete and return the Election Form #1 in the attached Appendix 1, certain additional terms may apply to your RSUs that will supersede the provisions set forth in this Grant Notice.

3

In order to effect the Grant of RSUs to you, please sign and return to us via our electronic acceptance procedure no later than on [ notice date + 30 days ], 20[    ] one copy of (i) this Grant Notice (together with duly executed copy of the Election Form #1, if applicable) and (ii) the 2019 Plan, failing which the above Grant shall be null and void as from such date.

 

 

 

 

Yours sincerely,

 

 

 

 

 

[

 

]

 

 

Acknowledgement of Grant Notice

 

 

By accepting the Grant through the Company's electronic acceptance procedure, the Beneficiary represents that he or she has perused this Grant Notice (including Exhibits A and B, as well as Appendix 1, if applicable) which he or she accepts, and acknowledges that he or she is bound by this Grant Notice as from the date of such acceptance.

 

 

4

Exhibit A

to

Grant Notice

Talend 2019 Free Share Plan

 

Provisions for All Beneficiaries

 

This Exhibit A includes additional (or if so indicated, different) terms and conditions that govern the RSUs. 

 

(i) Non-Transferability of RSUs .  The RSUs may not be transferred in any manner otherwise than by will or by the laws of descent or distribution.  The terms of the 2019 Plan and this Grant Notice shall be binding upon the executors, administrators, heirs, successors and assignees of the Beneficiary.

 

(ii)   Tax Obligations .  

 

(a) Responsibility for Taxes.  The Beneficiary acknowledges that, regardless of any action taken by the Company or, if different, the Beneficiary’s employer (the “ Employer ”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Beneficiary’s participation in the 2019 Plan and legally applicable to the Beneficiary (“ Tax-Related Items ”) is and remains the Beneficiary’s responsibility and may exceed the amount actually withheld by the Company or the Employer, if any.  The Beneficiary further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including, but not limited to, the grant of the RSUs, the acquisition of the Shares, the lifting of any restrictions on the Shares, the subsequent sale of the Shares acquired under the 2019 Plan and the receipt of any dividends or other distributions on the Shares, and (ii) do not commit to and are under no obligation to structure the terms of the Grant or any aspect of the RSUs to reduce or eliminate the Beneficiary’s liability for Tax-Related Items or achieve any particular tax result.  The Beneficiary acknowledges and agrees that the Company may refuse to deliver the Shares or the proceeds of the sale of Shares if the Beneficiary fails to comply with the Beneficiary’s obligations in connection with the Tax-Related Items.

(b) Tax Withholding . Prior to any relevant taxable or tax withholding event, as applicable, the Beneficiary agrees to make appropriate arrangements with the Company and/or the Employer for the satisfaction of all Tax-Related Items. In this regard, to the extent permissible under local law, the Beneficiary authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the withholding obligation for Tax-Related Items by one or a combination of the following:

(i)  requiring the Beneficiary to tender a cash payment to the Company or the Employer in the amount of the Tax-Related Items;

(ii)  withholding from the Beneficiary’s wages or other cash compensation paid to the Beneficiary by the Company or the Employer;

(iii)  withholding from proceeds of the sale of Shares acquired under the 2019 Plan, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Beneficiary’s behalf pursuant to this authorization without further consent); and/or

(iv) any other method permitted under the 2019 Plan and applicable law.

The withholding obligation for Tax-Related Items with respect to RSUs acquired (if any) prior to the Mandatory Date shall be satisfied by Beneficiary tendering a cash payment to the Company or the Employer in the amount of the Tax-Related Items.

5

Unless the “Cash Default Withholding” box is checked on the Election Form #1, the withholding obligation for Tax-Related Items with respect to RSUs acquired on or after the First Vesting Date (as defined in the Standard Vesting Scheme) shall be satisfied through a mandatory sale arranged by the Company (on Beneficiary’s behalf pursuant to this authorization without further consent) until otherwise determined by the Board in its sole discretion.

 

Depending on the withholding method and to the extent permitted under the 2019 Plan and applicable law, the Company and/or the Employer may withhold or account for Tax-Related Items by considering minimum statutory withholding amounts or other applicable withholding rates, including maximum rates applicable in a jurisdiction (in which case the Beneficiary will receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent amount in Shares). 

 

If the Beneficiary is subject to Tax-Related Items in more than one jurisdiction, the Beneficiary acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

 

(iii) Nature of Grant .  In accepting the Grant, the Beneficiary acknowledges, understands and agrees that:

 

(a) the 2019 Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the 2019 Plan and this Grant Notice;

(b) the Grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs have been granted in the past;

(c) all decisions with respect to future RSU grants, if any, will be at the sole discretion of the Company;

(d) the Beneficiary’s participation in the 2019 Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Employer to terminate the Beneficiary’s employment relationship at any time with or without cause;

(e) the Beneficiary is voluntarily participating in the 2019 Plan;

(f) the RSUs and the Shares subject to the RSUs, and the income and value of the same, are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company or the Employer, and which are outside the scope of the Beneficiary’s employment contract, if any;

(g) the RSUs and the Shares subject to the RSUs, and the income and value of the same, are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long service awards, pension or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Employer;

(h) the RSUs and the Shares subject to the RSUs are not intended to replace any pension rights or compensation;

(i) the RSU grant will not be interpreted to form an employment contract with the Company, the Employer or any affiliated entity of the Company;

6

(j) the future value of the underlying Shares is unknown and cannot be predicted with certainty;

(k) no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from termination of the Beneficiary’s Presence (regardless of the reason for the termination and whether or not the termination is later found to be invalid or in breach of employment laws in the jurisdiction where the Beneficiary is employed or the terms of the Beneficiary’s employment agreement, if any);

(l) in the event of termination of the Beneficiary’s Presence, the Beneficiary’s right to receive all or part of his/her unvested RSUs and to acquire the relevant Shares, if any, will terminate effective as of the date the Beneficiary receives notice of termination regardless of when such termination is effective; the Company shall have the exclusive discretion to determine when the Beneficiary’s Presence has terminated for purposes of the RSUs; any period of notice, or compensation in lieu of such notice, that is given or ought to have been given under any contract, statute, common law or civil law shall be excluded from the period of the Beneficiary’s Presence; and

(m) neither the Company nor any of its affiliated entities shall be liable for any foreign exchange fluctuation between the Beneficiary’s local currency and the United States dollar or any other currency that may affect the value of the RSUs, or the value of any amount due to the Beneficiary pursuant to the RSUs or the subsequent sale of any Shares acquired under the 2019 Plan. 

(iv) No Advice Regarding Grant. The Company is not providing any tax, legal, or financial advice nor is the Company making any recommendations regarding the Beneficiary’s participation in the 2019 Plan or the Beneficiary’s acquisition or sale of the underlying Shares.  The Beneficiary should consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the 2019 Plan before taking any action related to the 2019 Plan.

(v) Data Privacy .  

For Beneficiaries in the European Union / Eureopean Economic Area / Switzerland

The Beneficiary is hereby informed that the Company will process personal data of the Beneficiary for the exclusive purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan. Such processing of personal data implies the collection, use and transfer, in electronic or other form, of the Beneficiary’s personal data as described in this document by and among, as applicable, the Employer, the Company and its affiliated entities. The legal basis of such processing is the performance of the Grant.

The Beneficiary understands that the Company and the Employer may hold certain personal information about the Beneficiary, including, but not limited to, the Beneficiary’s name, home address and telephone number, e-mail address, date of birth, social insurance number or other identification number (e.g., resident registration number), salary, nationality, passport number, job title, any shares or directorships held in the Company, details of all RSUs or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in the Beneficiary’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the 2019 Plan. The Company may collect such Data from the Employer.

The Beneficiary understands that Personal Data may be transferred to Solium Shareworks or any other third parties assisting, as data processors, in the implementation, administration and management of the 2019 Plan.  The Beneficiary understands that the recipients of Data may be located in the United States or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Beneficiary’s country.  When required for transfers of the Data to a recipient located in a country outside of the EU, the Company implements adequate legal safeguards such as appropriate contractual clauses. The Beneficiary understands that he or she may

7

request a list with the names and addresses of any potential recipients of Data, as well as confirmation of the legal safeguards implemented – and a copy of the contractual clauses securing the transfer, if any – by contacting the Beneficiary’s local human resources representative. The Beneficiary authorizes the Company, Solium Shareworks and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the 2019 Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan, including any requisite transfer of such Data to   Solium Shareworks or another third party with whom the Beneficiary may elect to deposit any Shares received under the 2019 Plan.

The Beneficiary understands that Data will be held only as long as is necessary to implement, administer and manage the Beneficiary’s participation in the 2019 Plan.  The Beneficiary understands that he or she may, at any time access the Data, require any necessary amendments to Data, exercise its rights to erasure and restriction, right to object, right to Data portability, by contacting the Beneficiary’s local human resources representative. 

The processing of the Beneficiary’s Data is necessary for the performance of the Grant. If the Beneficiary objects to the processing of his/her Data in relation to the Grant, his or her employment status would not be affected; the only consequence of such objection is that the Company would not be able to grant the RSUs to the Beneficiary or administer or maintain the RSUs.  Therefore, the Beneficiary understands that objecting to the processing may affect the Beneficiary’s ability to participate in the 2019 Plan. Beneficiary also has the right to lodge a complaint with a supervisory authority in relation to the processing of his Data.

For Beneficiaries outside of the European Union / European Economic Area / Switzerland

The Beneficiary hereby explicitly and unambiguously consents to the processing of personal data of the Beneficiary for the exclusive purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan. Such processing of personal data implies the collection, use and transfer, in electronic or other form, of the Beneficiary’s personal data as described in this document by and among, as applicable, the Employer, the Company and its affiliated entities. The legal basis of such processing is the Beneficiary's consent.

The Beneficiary understands that the Company and the Employer may hold certain personal information about the Beneficiary, including, but not limited to, the Beneficiary’s name, home address and telephone number, e-mail address, date of birth, social insurance number or other identification number (e.g., resident registration number), salary, nationality, passport number, job title, any shares or directorships held in the Company, details of all RSUs or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in the Beneficiary’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the 2019 Plan. The Company may collect such Data from the Employer.

The Beneficiary understands that Personal Data may be transferred to Solium Shareworks or any other third parties assisting in the implementation, administration and management of the 2019 Plan.  The Beneficiary understands that the recipients of Data may be located in the United States or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Beneficiary’s country. The Beneficiary understands that he or she may request a list with the names and addresses of any potential recipients of Data by contacting the Beneficiary’s local human resources representative. The Beneficiary authorizes the Company, Solium Shareworks and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the 2019 Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Beneficiary’s participation in the 2019 Plan, including any requisite transfer of such Data to   Solium Shareworks or another third party with whom the Beneficiary may elect to deposit any Shares received under the 2019 Plan.

8

The Beneficiary understands that Data will be held only as long as is necessary to implement, administer and manage the Beneficiary’s participation in the 2019 Plan.  The Beneficiary understands that he or she may, at any time access the Data, require any necessary amendments to Data, exercise its rights to erasure and restriction, right to object, right to Data portability, by contacting the Beneficiary’s local human resources representative. 

Further, the Beneficiary understands that he or she is providing the consents herein on a purely voluntary basis. If the Beneficiary does not consent, or if the Beneficiary later seeks to withdraw his or her consent, his or her employment status would not be affected; the only consequence of refusing or withdrawing consent is that the Company would not be able to grant the RSUs to the Beneficiary or administer or maintain the RSUs.  Therefore, the Beneficiary understands that refusing or withdrawing the Beneficiary’s consent may affect the Beneficiary’s ability to participate in the 2019 Plan.  For more information on the consequences of refusal to consent or withdrawal of consent, the Beneficiary may contact the Beneficiary’s local human resources representative.

(vi) Country-Specific Provisions .  The RSUs and any Shares subject to or acquired pursuant to the RSUs shall be subject to any special terms and conditions set forth for the Beneficiary’s country in Exhibit B .  Moreover, if the Beneficiary relocates to one of the countries included in Exhibit B , the special terms and conditions for such country will apply to the Beneficiary to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. 

(vii) Imposition of Other Requirements . The Company reserves the right to impose other requirements on the RSUs and any Shares subject to or acquired upon vesting of the RSUs, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Beneficiary to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

(viii) Exchange Control, Tax and/or Foreign Asset/Account Reporting . The Beneficiary acknowledges that there may be exchange control, tax, foreign asset and/or account reporting requirements which may affect the Beneficiary’s ability to acquire or hold Shares acquired under the 2019 Plan or cash received from participating in the 2019 Plan (including from any dividends or other distributions paid on Shares acquired under the 2019 Plan) in a brokerage/bank account or legal entity outside the Beneficiary’s country.  The Beneficiary may be required to report such accounts, assets, the balances therein, the value thereof and/or the transactions related thereto to the tax or other authorities in the Beneficiary’s country.  The Beneficiary also may be required to repatriate sale proceeds or other funds received as a result of participation in the 2019 Plan to the Beneficiary’s country through a designated bank or broker or within a certain time after receipt.  The Beneficiary acknowledges that it is his or her responsibility to be compliant with such regulations.

(ix) Insider Trading Restrictions / Market Abuse Laws . The Beneficiary acknowledges that he or she may be subject to insider trading restrictions and/or market abuse laws which may affect the Beneficiary’s ability to acquire or sell Shares or rights to Shares (e.g., the RSUs) during such times as the Beneficiary is considered to have “insider information” regarding the Company (as defined by any applicable law).  Any restriction under these laws or regulations is separate from and in addition to any restriction that may be imposed under any applicable Company insider trading policy.

(x) Electronic Delivery and Participation . The Company may, in its sole discretion, decide to deliver any documents related to the RSUs and participation in the 2019 Plan by electronic means or to request the Beneficiary’s consent to participate in the 2019 Plan by electronic means.  The Beneficiary hereby consents to receive such documents by electronic delivery and agrees to participate in the 2019 Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company.

9

(xi) Waiver . The Beneficiary acknowledges that a waiver by the Company of breach of any provision of this Grant Notice shall not operate or be construed as a waiver of any other provision of this Grant Notice or of any subsequent breach by the Beneficiary or any other Beneficiary.

(xii) Entire Agreement . The 2019 Plan is incorporated herein by reference.  The 2019 Plan and this Grant Notice constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Beneficiary with respect to the subject matter hereof, and may not be modified adversely to the Beneficiary’s interest except by means of a writing signed by the Company and the Beneficiary.

(xiii) Governing Law; Venue   This Grant Notice is governed by the laws of the Republic of France.  Any claim or dispute arising under the 2019 Plan or this Grant Notice shall be subject to the exclusive jurisdiction of the court competent for the place of the registered office of the Company.

(xiv) U.S. Taxpayers .  The following provisions apply if the Beneficiary is subject to taxation in the United States without regard to the country of residence of the Beneficiary.

(a) The Shares that become definitively acquired (vest) pursuant to Article 6 of the 2019 Plan shall be issued to the Beneficiary upon the date they become definitely acquired (vest) and in any event no later than 45 days thereafter.  Nothing in the foregoing shall prevent the Holding Period from applying to the Shares that are issued to the Beneficiary or shall otherwise contravene any provisions contained in Article 7.

(b) It is intended that the RSUs are exempt from or compliant with Section 409A of the U.S. Internal Revenue Code (together with any U.S. Department of Treasury Regulations promulgated and other interpretive guidance issued thereunder, including, without limitation, any such regulations or other guidance that may be issued after the date hereof and any proposed regulations on which taxpayers may rely) (“ Section 409A ”), and the 2019 Plan and this Grant Notice shall be interpreted, construed and operated to reflect such intent. However, notwithstanding any other provision of the 2019 Plan or this Grant Notice, the Board shall have the right in its sole discretion (without any obligation to do so) to adopt such amendments to the 2019 Plan and/or this Grant Notice, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as it determines are necessary or appropriate for the RSUs to comply with the requirements of Section 409A. The Company does not make any representation to the Beneficiary or any other party that the RSUs satisfy the requirements of Section 409A and will have no liability or other obligation to indemnify or hold harmless the Beneficiary or any other party for any tax, additional tax, interest or penalties that the Beneficiary or any other party may incur in the event that any provision of the 2019 Plan and/or this Grant Notice, or any amendment or modification thereof or any other action taken with respect thereto, is deemed to violate any of the requirements of Section 409A.

10

Exhibit B

to

Grant Notice

Talend 2019 Free Share Plan

 

Country-Specific Provisions for Beneficiaries Outside of France

 

 

This Exhibit B includes additional (or if so indicated, different) terms and conditions that govern the RSUs if the Beneficiary is in one of the countries listed herein.  If the Beneficiary is a citizen or resident of a country (or if the Beneficiary is considered as such for local law purposes) other than the one in which the Beneficiary is currently residing and/or working, or if the Beneficiary transfers to another country after being granted the RSUs, the Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to the Beneficiary.

 

 

AUSTRALIA

 

Offer Document .   The Company is pleased to provide the Beneficiary with this offer to participate in the 2019 Plan.  This offer document sets out information regarding the Grant of RSUs to Australian resident Beneficiaries of the Company and its affiliates.  The offer is provided by the Company to ensure compliance of the 2019 Plan with the Australian Securities and Investments Commission (“ ASIC ”) Class Order 14/1000 and the relevant provisions of the Corporations Act 2001 .  

 

In addition to the information set out in this Grant Notice, the Beneficiary is also being provided copies of the following documents:

 

(a) the 2019 Plan;

 

(b) 2019 Plan Prospectus; and

 

(c) the International Tax Supplement for Australia.

 

(collectively, the “ Additional Documents ”).

 

The Additional Documents provide further information to help the Beneficiary make an informed investment decision about participating in the 2019 Plan.  Neither the 2019 Plan nor any of the Additional Documents is a prospectus for the purpose of the Corporations Act 2001 .  

 

The Beneficiary should not rely upon any oral statements made in relation to this offer.  The Beneficiary should rely only upon the statements contained in the Grant Notice and the Additional Documents when considering participation in the 2019 Plan.

 

Nature of Plan .  The 2019 Plan is a plan to which Subdivision 83A-C of the Income Tax Assessment Act 1997 (Cth) applies (subject to conditions in the Act).

 

Securities Law Notification . Investment in Shares involves a degree of risk.  Beneficiaries who elect to participate in the 2019 Plan should monitor their participation and consider all risk factors relevant to the acquisition of Shares under the 2019 Plan as set out in the Grant Notice and the Additional Documents.

 

The information contained in this offer is general information only.  It is not advice or information that takes into account Beneficiary’s objectives, financial situation and needs.

11

The Beneficiary should consider obtaining his or her own financial product advice from an independent person who is licensed by ASIC to give advice about participation in the 2019 Plan.

 

Additional Risk Factors for Australian Residents .  Beneficiaries should have regard to risk factors relevant to investment in securities generally and, in particular, to the holding of Shares.  For example, the price at which Shares are quoted may increase or decrease due to a number of factors.  There is no guarantee that the price of the Shares will increase.  Factors which may affect the price of Shares include fluctuations in the domestic and international market for listed shares, general economic conditions, including interest rates, inflation rates, commodity and oil prices, changes to government fiscal, monetary or regulatory policies, legislation or regulation, the nature of the markets in which the Company operates and general operational and business risks.

In addition, Beneficiaries should be aware that the Australian dollar value of any Shares acquired under the 2019 Plan will be affected by the Australian dollar / United States dollar exchange rate.  Participation in the 2019 Plan involves certain risks related to fluctuations in this rate of exchange.

 

Information about the   Shares . The offer of the RSUs relates to American Depository Receipts (“ ADRs ”) which evidence American Depository Shares (“ ADSs ”). Each ADR represents a beneficial interest in one ordinary share of the Company.   ADS holders are not treated as shareholders and do not have shareholder rights.  The depositary, JPMorgan Chase Bank, N.A., is the holder of the ordinary shares underlying the ADSs.

 

A holder of an ADS may exercise voting rights with respect to the ordinary shares represented by the ADSs only in accordance with the provisions of the deposit agreement and not as a direct shareholder. ADS holders are entitled to give the depositary instructions as to how to vote the underlying ordinary shares.

 

Dividends may only be distributed from our distributable profits, plus any amounts held in our available reserves, which are those reserves other than the legal and statutory reserves and revaluation surplus.  ADS holders may be unable to participate in our rights offerings or to elect to receive dividends in shares.  However, the Company does not currently pay dividends and does not intend to pay dividends.

 

The ADRs are traded on the Nasdaq Global Market (“ Nasdaq ”) in the United States of America under the symbol “ TLND ”.

 

Ascertaining the Market Price of Shares .  Beneficiaries may ascertain the current market price of the Shares traded on the Nasdaq at www.nasdaq.com under symbol “TLND”.  The Australian dollar equivalent of that price can be obtained at: http://www.rba.gov.au/statistics/frequency/exchange-rates.html .

 

This will not be a prediction of what the market price per Share or the applicable exchange rate will be when the Shares are issued.

CANADA

 

Securities Law Notification .  The Beneficiary is permitted to sell the Shares acquired under the 2019 Plan through the designated broker appointed under the 2019 Plan, if any, provided the re-sale of the Shares acquired under the 2019 Plan takes place outside of Canada through the facilities of a securities exchange on which the Shares are listed.  The Shares are currently listed on the Nasdaq.

 

The following provisions will also apply to Beneficiaries who are resident in Quebec :

 

Data Privacy .  The following provision supplements Section 5 (Data Privacy) of Exhibit A to the Grant Notice:

12

The Beneficiary hereby authorizes the Company and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or non-professional, involved in the administration and operation of the 2019 Plan.  The Beneficiary further authorizes the Company, any of its affiliated entities, as well as a third-party service provider, to disclose and discuss the 2019 Plan with their advisors and to record all relevant information and keep such information in Beneficiary’s employee file.

 

Language Consent .  The parties acknowledge that it is their express wish that the Grant Notice, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

 

Consentement Relatif à la Langue Utilisée.  Les parties reconnaissent avoir expressement souhaité que la convention “Grant Notice”, ainsi que tous les documents, avis et procédures judiciaries, éxecutés, donnés ou intentés en vertu de, ou liés, directement ou indirectement à la présente convention, soient rédigés en langue anglaise.

 

CHINA

 

The following provision shall apply to Beneficiaries who are subject to exchange control restrictions in the People's Republic of China ("PRC"), as determined by the Company in its sole discretion.

 

Exchange Control Restrictions . The Beneficiary understands and agrees that the RSUs and participation in the 2019 Plan are subject to any requirements imposed by the PRC State Administration of Foreign Exchange (" SAFE ") and no Shares will be issued and no funds related to the RSUs and the 2019 Plan will paid to the Beneficiary unless the Company has determined that such issuance and payment can be made in compliance with any such requirements, without any liability to the Company or any of its affiliates.

 

The Beneficiary understands and agrees that the Company may require that any Shares acquired upon vesting of the RSUs be sold (i) immediately upon acquisition, (ii) following termination of the Beneficiary's employment, or (iii) within such other time frame as the Company determines to be necessary or advisable for legal or administrative reasons. The Beneficiary further agrees that the Company is authorized to instruct its designated broker to assist with the sale of such Shares (on the Beneficiary's behalf pursuant to this authorization) and the Beneficiary expressly authorizes the Company’s designated broker to complete the sale of such Shares. The Beneficiary acknowledges that the Company’s designated broker is under no obligation to arrange for the sale of Shares at any particular price. Upon the sale of Shares, the Company agrees to pay to the Beneficiary any cash proceeds from the sale of Shares, less any brokerage fees or commissions and subject to any obligation to satisfy Tax-Related Items.


The Beneficiary understands and agrees that the Beneficiary will be required to immediately repatriate to China the cash proceeds from the sale of Shares (and any other funds received in relation to the RSUs and the 2019 Plan). The Beneficiary further understands that the repatriation of the cash proceeds (and other funds) will need to be effected through a special exchange control account established by the Company, the Employer or any affiliated entity of the Company, and the Beneficiary hereby consents and agrees that any funds related to the RSUs and the 2019 Plan may be transferred to such special account prior to being delivered to the Beneficiary. The Beneficiary also understands that the Company will deliver the funds to the Beneficiary as soon as practicable, but there may be delays in distributing the funds to the Beneficiary due to exchange control considerations in China. The funds may be paid in U.S. dollars or local currency, at the Company's discretion. If the funds are paid in U.S. dollars, the Beneficiary understands that he or she will be required to open a U.S. Dollar bank account in China into which the funds can be deposited. If the funds are converted to local currency, the Beneficiary acknowledges that the Company is under no obligation to secure any particular currency conversion rate, and there may be delays in converting the funds to local currency. The Beneficiary will bear the

13

risk of any currency conversion rate fluctuation between the date that the Shares are sold (or any other funds are realized) and the date the funds are distributed to the Beneficiary.

 

The Beneficiary agrees to comply with any requirements that may be imposed by the Company in the future to facilitate compliance with exchange control requirements.

 

DENMARK

 

Employer Statement .  The Beneficiary acknowledges that he or she has received an Employer Statement in Danish which sets forth certain prescribed information regarding the RSUs.

 

GERMANY

 

No country-specific provisions.

 

INDIA

 

No country-specific provisions.

 

IRELAND

 

No country-specific provisions.

 

ITALY

 

Plan Document Acknowledgement. The Beneficiary acknowledges that the Beneficiary has been given access to the 2019 Plan, has reviewed the 2019 Plan and the Grant Notice in their entirety and fully understands and accepts all provisions of the 2019 Plan and the Grant Notice.  Further the Beneficiary specifically and expressly approves the following clauses of Exhibit A to the Grant Notice: Section 2 - Tax Obligations; Section 7 - Imposition of Other Requirements; Section 10 - Electronic Delivery and Participation; Section 13 - Governing Law; Venue.

JAPAN

No country-specific provisions.

NETHERLANDS

No country-specific provisions.

SINGAPORE

Securities Law Notification . The grant of the RSUs under the 2019 Plan is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006 Ed.) (“ SFA ”) and is not made with a view to the Shares being subsequently offered for sale to any other party.  The 2019 Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore.  The Beneficiary should note that the RSUs are subject to section 257 of the SFA and the Beneficiary will not be able to make (i) any subsequent sale of the Shares in Singapore or (ii) any offer of such subsequent sale of the Shares subject to the RSUs in Singapore, unless such sale or offer is made (a) more than six months after the date of Grant or (b) pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA (Chapter 289, 2006 Ed.).

CEO and Director Notification Information.  If the Beneficiary is the Chief Executive Officer (“ CEO ”) or a director, associate director or shadow director of an affiliated entity of the Company in Singapore (a “ Singapore Entity ”), the Beneficiary is subject to certain notification requirements under

14

the Singapore Companies Act. Among these requirements is an obligation to notify the Singapore Entity in writing when the Beneficiary receives an interest ( e.g. , RSUs, Shares) or disposes of an interest in the Company or any related companies.  These notifications must be made within two business days of (i) acquiring or disposing of any interest in the Company or any of its affiliated entities or (ii) becoming the CEO or a director, associate director or shadow director if such an interest exists at that time.

SPAIN

Nature of Grant.  The following provision supplements Section 3 (Nature of Grant) of Exhibit A to the Grant Notice:

By accepting the RSUs, the Beneficiary acknowledges that her or she has received a copy of the 2019 Plan.

The Beneficiary further acknowledges, understands and agrees that the Company has unilaterally, gratuitously and discretionally decided to grant RSUs under the 2019 Plan to employees of the Company and its affiliated entities throughout the world.  The decision to grant the RSUs is a limited decision that is entered into upon the express assumption and condition that any Grant will not economically or otherwise bind the Company or any of its affiliated entities on an ongoing basis other than as set forth in this Grant Notice.  Consequently, the Beneficiary understands that any Grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Company or any of its affiliated entities) and shall not be considered a mandatory benefit, salary for any purpose (including severance compensation) or any other right whatsoever.  Further, the Beneficiary understands and freely accepts that there is no guarantee that any benefit shall arise from any gratuitous and discretionary grant since the future value of the RSUs and the Shares is unknown and unpredictable.    

Additionally, the Beneficiary understands that the right to acquire the Shares subject to the RSUs is expressly conditioned on his or her continued and active rendering of service to the Employer (or the Company or an affiliated entity) such that if the Beneficiary’s employment terminates for any reason whatsoever (except as expressly provided in Article 6 of the 2019 Plan), the Beneficiary will definitely and irrevocably lose his or her right to acquire the relevant Shares as described in the 2019 Plan.  This will be the case, for example, even if (a) the Beneficiary is considered to be unfairly dismissed without good cause (i.e., subject to a “ despido improcedente ”); (b) the Beneficiary is dismissed for disciplinary or objective reasons or due to a collective dismissal; (c) the Beneficiary terminates service due to a change of work location, duties or any other employment or contractual condition; (d) the Beneficiary terminates service due to the Company’s or any of its affiliated entity’s unilateral breach of contract; or (e) the Beneficiary’s employment terminates for any other reason whatsoever.  Consequently, upon termination of the Beneficiary’s employment for any of the above reasons, the Beneficiary will automatically lose the right to any Shares that have not been definitively acquired by the Beneficiary prior to the date of termination of employment.

Finally, the Beneficiary understands that this Grant would not be made to the Beneficiary but for the assumptions and conditions referred to herein; thus, the Beneficiary acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any Grant of RSUs shall be null and void.

Securities Law Notification.  No “offer of securities to the public,” as defined under Spanish law, has taken place or will take place in the Spanish territory in connection with the RSUs. This Grant Notice has not been nor will it be registered with the Comisión Nacional del Mercado de Valores , and does not constitute a public offering prospectus.

SWEDEN

No country-specific provisions.

15

SWITZERLAND

 

Securities Law Notification.   The Grant of the RSUs and the issuance of any Shares is not intended to be a public offering in Switzerland.  Neither this document nor any other materials relating to the RSUs constitute a prospectus as such term is understood pursuant to article 652a of the Swiss Code of Obligations, and neither this document nor any other materials relating to the RSUs may be publicly distributed nor otherwise made publicly available in Switzerland.  Neither this document nor any other offering or marketing material relating to the RSUs have been or will be filed with, or approved or supervised by, any Swiss regulatory authority (in particular, the Swiss Financial Market Supervisory Authority (FINMA)).

 

UNITED KINGDOM

 

Tax Obligations . The following provision supplements Section 2 (Tax Obligations) of Exhibit A to the Grant Notice:

 

Without limitation to Section 2 of Exhibit A, the Beneficiary agrees that the Beneficiary is liable for all Tax-Related Items and hereby covenants to pay all such Tax-Related Items as and when requested by the Company or any affiliated entity or by Her Majesty's Revenue and Customs (“ HMRC ”) (or any other tax authority or any other relevant authority). The Beneficiary also agrees to indemnify and keep indemnified the Company and any affiliated entity against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on the Beneficiary’s behalf.

 

Notwithstanding the foregoing, if the Beneficiary is a director or executive officer of the Company (within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision will not apply. In the event that the Beneficiary is such a director or executive officer and the income tax is not collected from or paid by the Beneficiary within ninety (90) days of the end of the U.K. tax year in which an event giving rise to the indemnification described above occurs, the amount of uncollected income tax may constitute a benefit to the Beneficiary on which additional income tax and national insurance contributions may be payable. The Beneficiary will be responsible for reporting and paying any income tax due on this additional benefit directly to the HMRC under the self-assessment regime and for paying the Company or the Employer, as applicable, for the value of any employee national insurance contributions due on this additional benefit.

 

Section 431 Election . The Beneficiary acknowledges and agrees that if requested by the Company or the Employer, the Beneficiary will enter into, jointly with the Employer, the joint election within Section 431 of the U.K. Income Tax (Earnings and Pensions) Act 2003 (“ ITEPA 2003 ”) in respect of computing any tax charge on the acquisitions of “restricted securities” (as defined in Sections 423 and 424 of ITEPA 2003), and the Beneficiary will not revoke such election at any time.  If applicable, this election will be to treat the Shares as if they were not restricted securities (for U.K. tax purposes only).

 

UNITED STATES

 

No additional country-specific provisions.

16

Appendix 1

to

Grant Notice

Talend 2019 Free Share Plan

 

Election Form #1

I am completing this election form (the “ Election Form #1 ”) in connection with the receipt of the free shares ( actions gratuites ) of the Company (the “ RSUs ”) that are the subject of the grant notice dated _________ __________ (the “ Grant Notice ”) and electing to designate one or both of the following:

The Vesting Period that applies to my RSUs; and/or

The default method for satisfying the Tax Related Items for the Shares I acquire under the RSUs

Optional Accelerated Vesting Period

By checking this box, I hereby elect for the following Vesting Period (the “ Optional Accelerated Vesting Period ”) to apply to the RSUs in lieu of the Standard Vesting Scheme set forth in my Grant Notice. 

(a) [  ]% of the Number of Vested Shares (which number shall be rounded down to the nearest full number) on [        ], 20[    ] (the “ First   Vesting Date ”); provided that the Shares acquired on the First Vesting Date pursuant to this paragraph shall be subject to an additional mandatory Holding Period starting on the First Vesting Date and expiring on [      ], 20[    ] (the “ Mandatory Date ”);

(b) [  ]% of the Number of Vested Shares (which number shall be rounded down to the nearest full number) upon the expiration date of each quarter (i.e., each 3-month period) (any such expiration date being defined as a “ Quarterly Vesting Date ”) elapsed between [     ];   provided that the Shares acquired before the Mandatory Date pursuant to this paragraph shall be subject to an additional mandatory Holding Period starting on the relevant Quarterly Vesting Date and expiring on the Mandatory Date; and

(c) then, [  ]% of the Number of Vested Shares (which number shall be rounded down to the nearest full number) upon each Quarterly Vesting Date elapsed between [    ] (any Quarterly Vesting Date under (b) and (c), together with the First Vesting Date, being defined as a “ Vesting Date ”).

Acknowledgements

By checking the box immediately above, I acknowledge and agree to the following:

1. For any RSUs that I acquire before the Mandatory Date, I agree to satisfy any applicable withholding obligation of any related Tax-Related Items by tendering a cash payment to the Company or the Employer in the amount of the Tax-Related Items in advance of such vesting date.  If I fail to make the appropriate arrangements for the payment of any Tax-Related Items when any of these RSUs otherwise are supposed to vest or Tax-Related Items related to RSUs otherwise are due, to the extent permissible under applicable law, the Company may refuse to deliver the Shares or the proceeds of the sale of Shares.

2. The acquisition date of my RSUs may be accelerated under certain terms and conditions as set forth in the 2019 Plan, or in accordance with the terms of certain Company policies affecting

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me and/or agreements between any member of the Group and me, including, without limitation, any change of control and severance agreement between any member of the Group and me.

3. Any Shares that vest before the Mandatory Date pursuant to the Vesting Period above shall be subject to an additional mandatory Holding Period starting on the relevant Vesting Date and expiring on the Mandatory Date. During the Holding Period, I agree and acknowledge that I will not have the ability to dispose of the Shares prior to expiration of the Holding Period to cover the cost of such Tax-Related Items or any other tax obligations associated with the RSUs I acquire prior to the expiration of the Holding Period.

4. My election on this Election Form #1 with respect to the vesting schedule is irrevocable with respect to the RSUs. A new separate Election Form #1 must be submitted with respect to any future grant of RSUs.

5. I understand that I may, if I choose, check the box under the “Optional Accelerated Vesting Period” without checking the box under the “Default Tax Withholding Mechanism.”

Default Tax Withholding Mechanism

By checking this box, I hereby elect that, to the extent permitted by applicable law, I shall satisfy any withholding obligation of any Tax-Related Items for any Shares I acquire under my RSUs on or after the Mandatory Date by tendering a cash payment to the Company or the Employer in the amount of the Tax-Related Items in advance of such date (the “ Cash Default Withholding ”).

Acknowledgements

By checking the box immediately above, I acknowledge and agree to the following:

1. Except as otherwise restricted by applicable law, my election of the Cash Default Withholding is irrevocable with respect to the RSUs unless and until otherwise approved by the Board. A new separate Election Form #1 must be submitted with respect to any future grant of restricted stock units.

2. If I fail to make the appropriate arrangements for the payment of any Tax-Related Items via the Cash Default Withholding when the RSUs otherwise are supposed to vest or Tax-Related Items related to RSUs otherwise are due, to the extent permissible under applicable law, the Company may refuse to deliver the Shares or the proceeds of the sale of Shares.

3. I understand that I may, if I choose, check the box under the “Default Tax Withholding Mechanism” without checking the box under the “Optional Accelerated Vesting Period.”

I have received the Grant Notice and 2019 Plan.  I have carefully read, understand and agree to be bound by all of the terms and conditions of the Grant Notice and 2019 Plan.  The Company   has advised me to consult my legal, accountant and/or financial advisor before making any decision about the Election Form #1 .

Nothing herein will be construed as a right to my continued employment or service with the Company or any affiliated entity of the Company for any period and my employment or service may be terminated at any time by me or the Company or my Employer, with or without cause or notice, subject to the provisions of applicable law.

 

Unless this form is timely completed properly and returned to the Company by [ notice date + 30 days ], 20[    ], the RSUs will be granted and issued subject to the terms of the Grant Notice and the 2019 Plan, and this Election Form #1 will have no impact.

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Capitalized terms used herein will have the meaning ascribed to them in the Grant Notice or the 2019 Plan (as defined in the Grant Notice), unless otherwise defined herein.

 

If you have any questions regarding this Election Form #1, please contact Aaron Ross, General Counsel by email at aross@talend.com.

 

 

 

 

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COMPANY

 

 

 

 

 

 

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