Common use of Award Conditioned on Satisfaction of Regulatory Obligations Clause in Contracts

Award Conditioned on Satisfaction of Regulatory Obligations. Notwithstanding anything to the contrary in the Award Agreement, settlement of the Special Retention Award is conditioned on the Company’s obtaining a registration of the Plan with SAFE and on the continued effectiveness of such registration (the “SAFE Registration Requirement”). If, for any reason, the Company does not complete or maintain such registration, no Shares subject to the Special Retention Award for which a registration is not completed or maintained shall be issued. In this case, the Company retains the discretion to settle any Special Retention Awards for which the vesting conditions, but not the SAFE Registration Requirement, have been met in cash paid through local payroll in an amount equal to the market value of the Shares subject to the Special Retention Award less any Tax-Related Items.

Award Conditioned on Satisfaction of Regulatory Obligations. Notwithstanding anything to the contrary in the Award Agreement, settlement of the Special Retention Award is conditioned on the Company’s obtaining a registration of the Plan with SAFE and on the continued effectiveness of such registration (the “SAFE Registration Requirement”). If, for any reason, If or to the extent the Company does not is unable to complete the registration or maintain such the registration, no Shares subject to the Special Retention Award for which a registration is cannot be completed or maintained shall be issued. In this case, the Company retains the discretion to settle any Special Retention Awards Award for which the vesting conditions, but not the SAFE Registration Requirement, have been met in cash paid through local payroll in an amount equal to the market value of the Shares subject to the Special Retention Award less any Tax-Related Items.