Conversion to Stock Settled Award. (a) Notwithstanding any provision of the Agreement to the contrary, effective on the Conversion Date, the Executive’s outstanding CSARs under the 2020 Award, whether vested or unvested, will be converted to Converted CSARs in accordance with the terms of the 2020 Plan and this Amendment. Except as expressly stated in this Amendment or the 2020 Plan, the terms of a CSAR as in effect immediately before the Conversion Date (including, but not limited to, the vesting provisions and Base Price thereof) shall remain in effect with respect to such Award after the Conversion Date. (b) Any Converted CSARs that are exercisable pursuant to Sections 2.1(b) or 2.1(d) of the Agreement may be exercised at any time after the Conversion Date and on or before the applicable Expiration Date. (c) Any Converted CSARs that are exercisable pursuant to Section 2.1(c) of the Agreement with respect to an Executive whose employment with all Employers terminates by reason of the Executive’s Early Retirement after the first day of the twenty-seventh (27th) month following the Award Date may be exercised at any time following the later of (i) the Conversion Date or (ii) the date of the Executive’s Early Retirement and, in either case, on or before the applicable Expiration Date. (d) Section 2.2 of the Agreement is amended in its entirety to read as follows:
Appears in 4 contracts
Samples: Executive Award Agreement (UL Solutions Inc.), Executive Award Agreement (UL Solutions Inc.), Executive Award Agreement (UL Solutions Inc.)
Conversion to Stock Settled Award. (a) Notwithstanding any provision of the Agreement to the contrary, effective on the Conversion Date, the ExecutiveEmployee’s outstanding CSARs under the 2020 2017 Award, whether vested or unvested, will be converted to Converted CSARs in accordance with the terms of the 2020 2017 Plan and this Amendment. Except as expressly stated in this Amendment or the 2020 2017 Plan, the terms of a CSAR as in effect immediately before the Conversion Date (including, but not limited to, the vesting provisions and Base Price thereof) shall remain in effect with respect to such Award after the Conversion Date.
(b) Any Converted CSARs that are exercisable pursuant to Sections 2.1(b) or 2.1(d) of the Agreement may be exercised at any time after the Conversion Date and on or before the applicable Expiration Date.
(c) Any Converted CSARs that are exercisable pursuant to Section 2.1(c) of the Agreement with respect to an Executive Employee whose employment with all Employers terminates by reason of the ExecutiveEmployee’s Early Retirement after the first day of the twentythirty-seventh sixth (27th36th) month following the Award Date may be exercised at any time following the later of (i) the Conversion Date or (ii) the date of the ExecutiveEmployee’s Early Retirement and, in either case, on or before the applicable Expiration Date.
(d) Section 2.2 of the Agreement is amended in its entirety to read as follows:
Appears in 2 contracts
Samples: Employee Award Agreement (Cash Stock Appreciation Rights) (UL Solutions Inc.), Employee Award Agreement (UL Solutions Inc.)
Conversion to Stock Settled Award. (a) Notwithstanding any provision of the Agreement to the contrary, effective on the Conversion Date, the Executive’s outstanding CSARs under the 2020 2019 Award, whether vested or unvested, will be converted to Converted CSARs in accordance with the terms of the 2020 2019 Plan and this Amendment. Except as expressly stated in this Amendment or the 2020 2019 Plan, the terms of a CSAR as in effect immediately before the Conversion Date (including, but not limited to, the vesting provisions and Base Price thereof) shall remain in effect with respect to such Award after the Conversion Date.
(b) Any Converted CSARs that are exercisable pursuant to Sections 2.1(b) or 2.1(d) of the Agreement may be exercised at any time after the Conversion Date and on or before the applicable Expiration Date.
(c) Any Converted CSARs that are exercisable pursuant to Section 2.1(c) of the Agreement with respect to an Executive whose employment with all Employers terminates by reason of the Executive’s Early Retirement after the first day of the twentythirty-seventh sixth (27th36th) month following the Award Date may be exercised at any time following the later of (i) the Conversion Date or (ii) the date of the Executive’s Early Retirement and, in either case, on or before the applicable Expiration Date.
(d) Section 2.2 of the Agreement is amended in its entirety to read as follows:
Appears in 2 contracts
Samples: Executive Award Agreement (UL Solutions Inc.), Executive Award Agreement (UL Solutions Inc.)
Conversion to Stock Settled Award. (a) Notwithstanding any provision of the Agreement to the contrary, effective on the Conversion Date, the Executive’s outstanding CSARs under the 2020 2018 Award, whether vested or unvested, will be converted to Converted CSARs in accordance with the terms of the 2020 2018 Plan and this Amendment. Except as expressly stated in this Amendment or the 2020 2018 Plan, the terms of a CSAR as in effect immediately before the Conversion Date (including, but not limited to, the vesting provisions and Base Price thereof) shall remain in effect with respect to such Award after the Conversion Date.
(b) Any Converted CSARs that are exercisable pursuant to Sections 2.1(b) or 2.1(d) of the Agreement may be exercised at any time after the Conversion Date and on or before the applicable Expiration Date.
(c) Any Converted CSARs that are exercisable pursuant to Section 2.1(c) of the Agreement with respect to an Executive whose employment with all Employers terminates by reason of the Executive’s Early Retirement after the first day of the twentythirty-seventh sixth (27th36th) month following the Award Date may be exercised at any time following the later of (i) the Conversion Date or (ii) the date of the Executive’s Early Retirement and, in either case, on or before the applicable Expiration Date.
(d) Section 2.2 of the Agreement is amended in its entirety to read as follows:
Appears in 2 contracts
Samples: Executive Award Agreement (UL Solutions Inc.), Executive Award Agreement (UL Solutions Inc.)