Number of Shares Subject to Options. The number of KAR Shares subject to each of the adjusted KAR Options will be equal to the number of KAR Shares subject to the KAR Option immediately prior to the Effective Time. The number of SpinCo Shares subject to the SpinCo Option will be equal to the number of KAR Shares subject to the KAR Option immediately prior to the Effective Time.
Appears in 4 contracts
Samples: Employee Matters Agreement (KAR Auction Services, Inc.), Employee Matters Agreement (IAA, Inc.), Employee Matters Agreement (IAA Spinco Inc.)
