Effect of Change in Control During Performance Period. In the event that a Change of Control occurs after the Grant Date and prior to the end of the Performance Period, a Pro Rata Portion of the Award will vest and be earned. The remaining Performance Share Units will be forfeited, and the number of Shares issuable in respect of the vested Pro Rata Portion of the Award (based on the vested Pro Rata Portion of the Target Payment Amount) shall be distributed in accordance with Section 3.
Appears in 3 contracts
Samples: Performance Share Unit Award Agreement (Legg Mason, Inc.), Performance Share Unit Award Agreement (Legg Mason, Inc.), Performance Share Unit Award Agreement (Legg Mason, Inc.)
Effect of Change in Control During Performance Period. In the event that a Change of Control occurs after the Grant Date and prior to the end of the Performance Period, a Pro Rata Portion of the Participant’s Award will shall vest and be earned. The remaining Performance Share Units will be forfeited, and the number of Shares issuable in respect of the vested Pro Rata Portion of the Award Performance Share Units (based on the vested Pro Rata Portion of the Target Payment Amount) shall be distributed in accordance with Section 3.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Legg Mason, Inc.)
