Equity Restructurings Sample Clauses

Equity Restructurings. In the event of any extraordinary Class A Common Stock distribution or split, recapitalization, rights offering, split-up or spin-off or any other event that constitutes an “equity restructuring” (as defined under Financial Accounting Standards Board (FASB) Accounting Standards Codification 718) with respect to the Class A Common Stock, the Administrator shall, in the manner determined appropriate or desirable by the Administrator and without liability to any person, adjust any or all of (i) the number of shares of Class A Common Stock or other securities of the Corporation (or number and kind of other securities or property) with respect to which Awards may be granted under the Plan, and (ii) the terms of outstanding Awards, including, but not limited to (A) the number of shares of Class A Common Stock or other securities of the Corporation (or number and kind of other securities or property) subject to outstanding Awards or to which outstanding Awards relate, (B) the Option Price or exercise price of any Option or Stock Appreciation Right and (C) any performance targets or other applicable terms.

Equity Restructurings. In the event of any nonreciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the number or kind of shares or the share price of the Company’s common stock, the respective price targets that trigger each Tranche of the Additional Restricted Stock Award shall be equitably adjusted. For clarity, and as an example, in the event of a 2:1 stock split, each respective price target will be adjusted to a level fifty percent (50%) lower than it was prior to the stock split. For the purposes of this Section 2.4, “Time-Based Vesting Schedule” with respect to any Tranche shall mean fifty percent (50%) of the shares of the Additional Restricted Stock Award subject to the Tranche shall vest as of each of the first two anniversaries of the Effective Date, subject to the Executive’s continued employment through each vesting date, provided, that in the event that an applicable 30-Day Price performance goal is achieved with respect to any Tranche after the first anniversary of the Effective Date and prior to the Expiration Date, such Tranche shall, upon the date of the achievement of such performance goal, vest to the same extent such Tranche would have been vested as of the date of such achievement pursuant to the foregoing schedule had such performance goal been achieved prior to the first anniversary of the Effective Date. For clarity and as an example, if the performance goal for Tranche 1 is achieved between the first and second anniversaries of the Effective Date, then upon such achievement, fifty percent (50%) of the shares of the Additional Restricted Stock Award subject to Tranche 1 would immediately vest and fifty percent (50%) of the shares of the Additional Restricted Stock Award subject to Tranche 1 would vest on the second anniversary of the Effective Date, in each case subject to the Executive’s continued employment.

Equity Restructurings. In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Sections 5.1 and 5.2, the number and type of securities subject to the Option and the exercise price or g▇▇▇▇ ▇▇▇▇▇ thereof, if applicable, shall be equitably adjusted (and the adjustments provided under this Section 5.4(a) shall be nondiscretionary and shall be final and binding on the Holder and the Company.