Change in Control Prior to Vesting. The Participant’s right to vest in the Restricted Stock following a Change in Control shall depend on whether the Restricted Stock is assumed, converted or replaced by the continuing entity as follows: (i) In the event that the Restricted Stock is not assumed, converted, or replaced by the continuing entity following the Change in Control (as determined by the Committee), the Restricted Stock shall immediately become unrestricted and vested. (ii) In the event that the Restricted Stock is assumed, converted, or replaced by the continuing entity following the Change in Control (as determined by the Committee), the Restricted Stock shall not immediately vest and shall instead continue to vest in accordance with Section 3(a).
Appears in 3 contracts
Samples: Restricted Stock Agreement (Andersons, Inc.), Restricted Stock Agreement (Andersons, Inc.), Restricted Stock Agreement (Andersons, Inc.)
Change in Control Prior to Vesting. The Participant’s right to vest in the Restricted Stock following a Change in Control shall depend on whether the Restricted Stock is assumed, converted or replaced by the continuing entity as follows:
(i) In the event that the Restricted Stock is not assumed, converted, or replaced by the continuing entity following the Change in Control (as determined by the Committee), the Restricted Stock shall immediately become unrestricted and vested.
(ii) In the event that the Restricted Stock is assumed, converted, or replaced by the continuing entity following the Change in Control (as determined by the Committee), the Restricted Stock shall not immediately vest and shall instead continue to vest in accordance with Section 3(a).
Appears in 1 contract
