Peer Group Changes. If a member of the Peer Group declares bankruptcy or ceases to be publicly traded as a result of bankruptcy, it shall be deemed to remain in the Peer Group until the expiration of the Performance Period and shall occupy the lowest ranking in the Payout Schedule. If, as a result of a merger, acquisition or a similar corporate transaction, in which any member of the Peer Group ceases to be publicly traded, the Committee may in its sole discretion, revise the makeup of the Peer Group and calculate the resulting Total Shareholder Return for such affected member of the Peer Group, adjusting accordingly, the associated TSR Multipliers in a manner consistent with the methodologies contained herein. HOU:3760738.2 Certain Definitions.
Appears in 2 contracts
Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.), Performance Unit Award Agreement (Independence Contract Drilling, Inc.)
Peer Group Changes. If a member of the Peer Group declares bankruptcy or ceases to be publicly traded as a result of bankruptcy, it shall be deemed to remain in the Peer Group until the expiration of the Performance Period and shall occupy the lowest ranking in the Payout Schedule. If, as a result of a merger, acquisition or a similar corporate transaction, in which any member of the Peer Group ceases to be publicly traded, the Committee may in its sole discretion, revise the makeup of the Peer Group and calculate the resulting Total Shareholder Return for such affected member of the Peer Group, adjusting accordingly, the associated TSR Payout Multipliers in a manner consistent with the methodologies contained herein. HOU:3760738.2 Certain Definitions. .
Appears in 1 contract
Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)
Peer Group Changes. If a member of the Peer Group declares bankruptcy bankruptcy, or ceases to be publicly traded as a result of bankruptcy, it shall be deemed to remain in the Peer Group until the expiration of the Performance Period and shall occupy the lowest ranking in the Payout Schedule. If, as a result of a merger, acquisition or a similar corporate transaction, in which any member of the Peer Group ceases to be publicly traded, the Committee may in its sole discretion, revise the makeup of the Peer Group and calculate the resulting Total Shareholder Return for such affected member of the Peer Group, adjusting accordingly, the associated TSR Payout Multipliers in a manner consistent with the methodologies contained herein. HOU:3760738.2 Certain Definitions. 2 HOU:3760738.2
Appears in 1 contract
Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)
