New D&B Employees. As of the Effective Time, Corporation Performance Share opportunities granted to New D&B Employees shall be canceled and such individuals shall receive a replacement performance share opportunity, pursuant to the New D&B Replacement Plan, consisting of (i) a number of shares of New D&B Common Stock equal to fifty percent of the target number of Corporation Performance Shares plus (ii) a cash payment opportunity equal to the fair market value (as of the date the award is approved) of a number of shares of Moody's Common Stock equal to the target number of Corporation Performance Shares.
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Samples: Employee Benefits Agreement (Moodys Corp /De/), Employee Benefits Agreement (New D&b Corp), Employee Benefits Agreement (New D&b Corp)
New D&B Employees. As of the Effective Time, Corporation Performance Share opportunities granted to New D&B Employees shall be canceled cancelled and such individuals shall receive a replacement performance share opportunity, pursuant to the New D&B Replacement Plan, opportunity consisting of (i) a number of shares of New D&B Common Stock equal to fifty percent of the target number of Corporation Performance Shares plus (ii) a cash payment opportunity equal to the fair market value (as of the date the award is approvedof payment) of a number of shares of Moody's Common Stock equal to the target number of Corporation Performance Shares.
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