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Newtex plc's UK withholding obligations on Geoff's anticipated stock option exercises and RSU income can be summarised as follows:

Stock options

The liability to UK income tax and UK National Insurance Contributions (NIC) need to be considered separately on the stock option income as each are calculated in a slightly different way.

The UK income tax liability at exercise of an unapproved stock option will be calculated on the option gain, or 'spread' (ie the difference between the market value on exercise and the exercise price) sourced over the grant to vest period (Tolley's Global Mobility: Employment Taxes (Europe), United Kingdom, 3.5). Geoff was treated as non-resident in the UK during his assignments to China and Singapore, and he did not have any UK taxable work duties during these periods, and as such the following proportions of the option gains will be liable to UK income tax (under domestic law):

*1 March 2012 to 20 April 2014

** 1 July 2019