Motorola Restricted Stock and Restricted Stock Units. Transferred Employees and any other Freescale employees will continue to hold their shares of Motorola restricted stock and restricted stock units after the Reorganization Date on the same terms and conditions under which they were held as of the Reorganization Date. As of the Distribution Date, certain shares of Motorola restricted stock and restricted stock units held by Transferred Employees and any other Freescale employees will become free of restriction by virtue of the terms of the award document pursuant to which they were granted. A portion of the balance of the Motorola restricted stock and restricted stock units held by Transferred Employees and any other Freescale employees will be freed of restriction on the Distribution Date. The portion freed of restriction will be determined by multiplying the number of shares or units subject to restriction by a fraction, the numerator of which is the number of years of service performed by the subject employee during the restricted period and the denominator is the total number of years in the restricted period. The balance of the Motorola restricted stock and restricted stock units will be forfeited. Freescale will issue shares of restricted stock or restricted stock units to certain employees to compensate for those otherwise forfeited grants within 60 days after the Distribution Date.
Appears in 4 contracts
Samples: Employee Matters Agreement (Freescale Semiconductor Inc), Employee Matters Agreement (Freescale Semiconductor Inc), Employee Matters Agreement (Freescale Semiconductor Inc)
