Award is Not Assumed or Substituted. Upon the occurrence of a Change in Control in which the acquirer does not assume or substitute the Performance Units, the Performance Units shall be deemed immediately vested at the greater of (x) target or (y) actual achievement of the applicable Performance-Vesting Conditions as of the last day of the quarter preceding the Change in Control, and shall be promptly settled within 60 days following the Change in Control. Coordination with CIC Agreement. For the avoidance of doubt, the provisions of Section 3 “Impact of a Change in Control on Equity Compensation Awards” in the CIC Agreement shall not apply to this Award.
Appears in 6 contracts
Samples: Performance Unit Award Agreement (First Solar, Inc.), Performance Unit Award Agreement (First Solar, Inc.), Performance Unit Award Agreement (First Solar, Inc.)
