Common use of Earned RSUs Becoming Vested Clause in Contracts

Earned RSUs Becoming Vested. If a Change of Control occurs and the Grantee has remained continuously employed by the Company Group from the Effective Date to the date of such Change of Control, then, notwithstanding any other provision of this Agreement to the contrary, all Earned RSU’s (determined after calculating 1, above) shall vest on the date of such Change of Control. It is understood that to the extent a Change of Control occurs after an applicable Performance Period, any Earned RSUs relating to such previously occurring Performance Period (as determined by the Committee pursuant to Exhibit A) shall be considered, in addition to the Earned RSUs calculated pursuant to paragraph 1 above, Earned RSUs for purposes of this paragraph 2. 11 HOU:3760738.2

Appears in 1 contract

Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)

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Earned RSUs Becoming Vested. If a Change of Control occurs and the Grantee has remained continuously employed by the Company Group from the Effective Date to the date of such Change of Control, then, notwithstanding any other provision of this Agreement to the contrary, all Earned RSU’s (determined after calculating 1, above) shall vest on the date of such Change of Control. It is understood that to the extent a Change of Control occurs after an applicable Performance Period, any Earned RSUs relating to such previously occurring Performance Period (as determined by the Committee pursuant to Exhibit A) shall be considered, in addition to the Earned RSUs calculated pursuant to paragraph 1 above, Earned RSUs for purposes of this paragraph 2. 11 * * * * * 1 HOU:3760738.2

Appears in 1 contract

Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)

Earned RSUs Becoming Vested. If a Change of Control occurs and the Grantee has remained continuously employed by the Company Group from the Effective Date to the date of such Change of Control, then, notwithstanding any other provision of this Agreement to the contrary, all Earned RSU’s (determined after calculating 1, above) shall vest on the date of such Change of Control. It is understood that to the extent a Change of Control occurs after an applicable Determination Date or Performance Period, any Earned RSUs relating to such previously occurring Determination Date and Performance Period (as determined by the Committee pursuant to Exhibit A) shall be considered, in addition to the Earned RSUs calculated pursuant to paragraph 1 above, Earned RSUs for purposes of this paragraph 2. 11 12 HOU:3760738.2

Appears in 1 contract

Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)

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Earned RSUs Becoming Vested. If a Change of Control occurs and the Grantee has remained continuously employed by the Company Group from the Effective Date to the date of such Change of Control, then, notwithstanding any other provision of this Agreement to the contrary, all Earned RSU’s (determined after calculating 1, above) shall vest on the date of such Change of Control. It is understood that to the extent a Change of Control occurs after an applicable Determination Date or Performance Period, any Earned RSUs relating to such previously occurring Determination Date and Performance Period (as determined by the Committee pursuant to Exhibit A) shall be considered, in addition to the Earned RSUs calculated pursuant to paragraph 1 above, Earned RSUs for purposes of this paragraph 2. 11 1 HOU:3760738.2

Appears in 1 contract

Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)

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