2007 and 2008 Stock Options. Each vested and exercisable RRD Option granted in 2007 or 2008 that is outstanding immediately prior to the Relevant Time shall be adjusted as of 12:01 a.m. Eastern Time on the Relevant Time so that the RRD Option shall remain an RRD Option, with the number of shares subject to such RRD Option equal to the number of shares of RRD Common Stock subject to the original RRD Option, divided by the RRD Equity Award Exchange Ratio, which product shall be rounded down to the nearest whole number of shares. The per share exercise price shall be equal to the original exercise price multiplied by the RRD Equity Award Exchange Ratio, rounded up to the nearest cent. Each RRD Option shall otherwise be subject to the same terms and conditions (including with respect to vesting and expiration of exercise period, as applicable).
Appears in 5 contracts
Samples: Separation and Distribution Agreement (Donnelley Financial Solutions, Inc.), Separation and Distribution Agreement (Donnelley Financial Solutions, Inc.), Separation and Distribution Agreement (LSC Communications, Inc.)
