Establishment of SpinCo Equity Plan. No later than immediately prior to the Effective Time, SpinCo shall adopt the SpinCo Equity Plan, pursuant to which SpinCo Equity Awards shall be granted in accordance with Section 5.2 and pursuant to which awards may be granted to SpinCo Group Employees on and after the Effective Time. SpinCo and Parent (in its capacity as holder of a majority of SpinCo Common Units) shall, prior to the Effective Time, execute and deliver a written consent approving the adoption by SpinCo of the SpinCo Equity Plan, with the SpinCo Equity Plan to be effective no later than immediately prior to the Effective Time.
Appears in 3 contracts
Samples: Employee Matters Agreement (Atlas Energy, L.P.), Employee Matters Agreement (Targa Resources Partners LP), Employee Matters Agreement (Atlas Energy Group, LLC)
Establishment of SpinCo Equity Plan. No later than immediately prior to the Effective Time, SpinCo shall adopt the SpinCo Equity Plan, pursuant to which SpinCo Equity Awards shall be granted in accordance with Section 5.2 and pursuant to which awards may be granted to SpinCo Group Employees on and after the Effective Time. SpinCo GP (in its capacity as general partner of SpinCo and on behalf of SpinCo) and Parent (in its capacity as holder of a majority of SpinCo Common Units) shall, prior to the Effective Time, execute and deliver a written consent approving the adoption by SpinCo of the SpinCo Equity Plan, with the SpinCo Equity Plan to be effective no later than immediately prior to the Effective Time.
Appears in 3 contracts
Samples: Merger Agreement (Targa Resources Corp.), Merger Agreement (Atlas Energy, L.P.), Merger Agreement (Atlas Pipeline Partners Lp)
