Option Awards Not Held by a Former Employee. Each Parent Option Award held by an individual other than a Former Employee that is outstanding as of immediately prior to the Effective Time shall be converted, as of the Effective Time, into both a Post-Separation Parent Option Award and a SpinCo Option Award and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective Time as were applicable to such Parent Option Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time:
Appears in 4 contracts
Samples: Employee Matters Agreement (Equitrans Midstream Corp), Employee Matters Agreement (EQT Corp), Employee Matters Agreement (Equitrans Midstream Corp)
