Common use of Restricted Units Clause in Contracts

Restricted Units. (a) Each award of Covidien RSUs held by a Covidien Group Employee or Former Employee immediately prior to the Effective Time shall be adjusted, effective as of the Effective Time, by multiplying the number of Covidien Ordinary Shares subject to such Covidien RSU award by the Covidien Share Ratio, which product shall be rounded down to the nearest whole number of units with a cash payment for any fractional units to be made as soon as administratively practicable after the Effective Time but in any event no later than September 1, 2013 (each such adjusted Covidien RSU, an “Adjusted Covidien RSU”); provided, however, that for any Covidien Group Employee who has satisfied the requirements for Normal Retirement (as defined in the applicable terms and conditions) as of the Effective Time, such product shall be subject to regular rounding in lieu of a cash payment for fractional units. Each Adjusted Covidien RSU shall be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to the corresponding Covidien RSU immediately prior to the Effective Time. (b) Except as otherwise provided in Section 4.1(d), each award of Covidien RSUs held by a Mallinckrodt Group Employee immediately prior to the Effective Time who continues to be employed by the Mallinckrodt Group immediately after the Distribution shall be converted to a restricted unit award relating to a number of Mallinckrodt Ordinary Shares (the “Mallinckrodt RSUs”) determined by multiplying the number of Covidien Ordinary Shares subject to each Covidien RSU award by the Mallinckrodt Share Ratio, which product shall be rounded down to the nearest whole number of Mallinckrodt RSUs with a cash payment for any fractional units to be made as soon as administratively practicable after the Effective Time but in any event no later than September 1, 2013; provided, however, that for any Mallinckrodt Group Employee who has satisfied the requirements for Normal Retirement (as defined in the applicable terms and conditions) as of the Effective Time, such product shall be subject to regular rounding in lieu of a cash payment for fractional units. Except as otherwise provided herein, each Mallinckrodt RSU shall be subject to the same terms and conditions after the Distribution as the terms and conditions applicable to the corresponding Covidien RSUs immediately prior to the Distribution.

Restricted Units. Pursuant to the requirements of Section 142(d) of the Code, the Owner hereby represents, as of the date hereof, and warrants, covenants and agrees as follows: (a) Each award During the Qualified Project Period: (i) Not less than twenty percent (20%) of Covidien RSUs the completed dwelling units in the Project, which at all times during the Qualified Project Period shall be the 85 residential rental units in the Affordable Rate Condominium, shall be designated as Very Low Income Units and shall be occupied, or held vacant and available for occupancy, by Very Low Income Tenants. For clarity, none of the dwelling units in the Market Rate Condominium shall be designated as Very Low Income Units. (ii) Very Low Income Units shall remain available on a priority basis for occupancy by Very Low Income Tenants. A unit occupied by a Covidien Group Employee or Former Employee immediately prior to Very Low Income Tenant who at the Effective Time commencement of the occupancy is a Very Low Income Tenant shall be adjustedtreated as occupied by a Very Low Income Tenant until a recertification of such tenant’s income in accordance with Section 4(c) below demonstrates that such tenant no longer qualifies as a Very Low Income Tenant and thereafter any residential unit in the Affordable Rate Condominium is occupied by a new resident other than a Very Low Income Tenant. Moreover, effective as a unit previously occupied by a Very Low Income Tenant and then vacated shall be considered occupied by a Very Low Income Tenant until reoccupied, other than for a temporary period, at which time the character of the Effective Time, by multiplying the number of Covidien Ordinary Shares subject to such Covidien RSU award by the Covidien Share Ratio, which product unit shall be rounded down to the nearest whole number of units with a cash payment for any fractional units to be made as soon as administratively practicable after the Effective Time but in any redetermined. In no event no later than September 1, 2013 shall such temporary period exceed thirty-one (each such adjusted Covidien RSU, an “Adjusted Covidien RSU”); provided, however, that for any Covidien Group Employee who has satisfied the requirements for Normal Retirement (as defined in the applicable terms and conditions31) as of the Effective Time, such product shall be subject to regular rounding in lieu of a cash payment for fractional units. Each Adjusted Covidien RSU shall be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to the corresponding Covidien RSU immediately prior to the Effective Timedays. (b) Except as otherwise provided in Section 4.1(d)Immediately prior to a Very Low Income Tenant’s occupancy of a Very Low Income Unit, the Affordable Owner will obtain and maintain on file an Income Certification form from each award of Covidien RSUs held by Very Low Income Tenant occupying a Mallinckrodt Group Employee Very Low Income Unit, dated immediately prior to the Effective Time who continues to initial occupancy of such Very Low Income Tenant in the Project. In addition, the Affordable Owner will provide such further information as may be employed required in the future by the Mallinckrodt Group immediately after State of California, the Distribution shall be converted to a restricted unit award relating to a number of Mallinckrodt Ordinary Shares (the “Mallinckrodt RSUs”) determined by multiplying the number of Covidien Ordinary Shares subject to each Covidien RSU award Issuer and by the Mallinckrodt Share RatioAct, which product shall be rounded down to the nearest whole number of Mallinckrodt RSUs with a cash payment for any fractional units to be made as soon as administratively practicable after the Effective Time but in any event no later than September 1, 2013; provided, however, that for any Mallinckrodt Group Employee who has satisfied the requirements for Normal Retirement (as defined in the applicable terms and conditionsSection 142(d) as of the Effective TimeCode and the Regulations, such product shall be subject to regular rounding in lieu of a cash payment for fractional units. Except as otherwise provided herein, each Mallinckrodt RSU shall be subject to the same terms may be amended from time to time, or in such other form and conditions after manner as may be required by applicable rules, rulings, policies, procedures or other official statements now or hereafter promulgated, proposed or made by the Distribution Department of the Treasury or the Internal Revenue Service with respect to obligations issued under Section 142(d) of the Code. The Affordable Owner shall verify that the income provided by an applicant is accurate by taking one or more of the following steps as a part of the terms and conditions applicable to verification process: (1) obtain a pay stub for the corresponding Covidien RSUs immediately prior to most recent pay period, (2) obtain an income tax return for the Distribution.most recent tax year,

Restricted Units. The Viacom Compensation Committee will award you four (a4) grants under the LTMIP, each for 115,000 restricted share units (“Restricted Units”), during the first calendar quarter of 2005, 2006, 2007 and 2008. Each Restricted Unit will correspond to one (1) share of Viacom Class B Common Stock. At the time of each grant, the Compensation Committee will establish a performance goal requirement for such award of Covidien RSUs held by Restricted Units for a Covidien Group Employee or Former Employee immediately prior to the Effective Time shall be adjusted, effective as of the Effective Time, by multiplying the number of Covidien Ordinary Shares subject to such Covidien RSU award by the Covidien Share Ratio, which product shall be rounded down to the nearest whole number of units with a cash payment for any fractional units to be made as soon as administratively practicable after the Effective Time but in any event performance period that will end no later than September 1, 2013 (each such adjusted Covidien RSU, an “Adjusted Covidien RSU”); provided, however, that for any Covidien Group Employee who has satisfied the requirements for Normal Retirement (as defined in the applicable terms and conditions) as December 31st of the Effective Time, such product year in which the grant was made. The Compensation Committee shall be subject to regular rounding in lieu of a cash payment for fractional units. Each Adjusted Covidien RSU shall be subject to establish the same terms and conditions performance goal for each grant of Restricted Units that it establishes for the Senior Executive STIP for the performance period during which such grant of Restricted Units is awarded. At the first Compensation Committee meeting held after the Effective Time as the terms and conditions applicable end of each performance period during which Restricted Units were awarded (which meeting is expected to the corresponding Covidien RSU immediately prior to the Effective Time. (b) Except as otherwise provided be held in Section 4.1(dJanuary), the Compensation Committee will determine whether the performance goal for each award of Covidien RSUs held by a Mallinckrodt Group Employee immediately prior Restricted Units has been achieved. If the Committee certifies that the performance goal established for an award of Restricted Units has been achieved, the award will vest and become payable as described below. If the Compensation Committee finds that the goal established for any grant of Restricted Units has not been achieved, the award will not vest and will be cancelled. The Restricted Units will be payable only in Xxxxxx Xxxxxxx July 1, 2004 shares of Class B Common Stock. Prior to the Effective Time who continues end of each calendar year during the Employment Term, you will have an option to defer receipt of payment of the Restricted Units that will be employed by awarded during the Mallinckrodt Group immediately following year; you can defer payment of such Restricted Units as follows: (x) for up to ten (10) years after the Distribution shall Restricted Units vest for in-service distributions, and (y) for up to three (3) years after the termination of your Viacom employment for post-termination distributions. If a timely election to defer is not made for any award of Restricted Units, payment of such Restricted Units will be converted to a restricted unit made shortly after the Restricted Units vest. Notwithstanding any of the foregoing, payment of each award relating to a number of Mallinckrodt Ordinary Shares (the “Mallinckrodt RSUs”) determined by multiplying the number of Covidien Ordinary Shares subject to each Covidien RSU award by the Mallinckrodt Share Ratio, which product shall Restricted Units will be rounded down deferred to the nearest whole number of Mallinckrodt RSUs date determined in accordance with a cash payment for any fractional units to be made as soon as administratively practicable after the Effective Time but in any event no paragraph 20 if such date is later than September 1, 2013; provided, however, that for any Mallinckrodt Group Employee who has satisfied the requirements for Normal Retirement (as defined in the applicable terms and conditions) as of the Effective Time, such product shall date on which payment would otherwise be subject to regular rounding in lieu of a cash payment for fractional units. Except as otherwise provided herein, each Mallinckrodt RSU shall be subject to the same terms and conditions after the Distribution as the terms and conditions applicable to the corresponding Covidien RSUs immediately prior to the Distributionmade.