RPS SIPs 2 Sample Clauses

RPS SIPs 2. 5.1 Tetra Tech acknowledges that RPS Shares held as partnership, matching and dividend shares in the RPS SIPs trusts on behalf of participants in the RPS SIPs and any unallocated RPS Shares held in the RPS SIPs trusts will participate in the Scheme on the same terms as all other RPS Shareholders. 2.5.2 Tetra Tech acknowledges RPS’s intention to continue its usual practice of operating the RPS SIPs up to the Effective Date. In this respect RPS confirms that (i) any RPS Shares awarded as partnership shares or dividend shares will be purchased from the market; and (ii) it intends to also continue with its current practice of delivering awards of matching shares by procuring that the RPS Shares are purchased from the market or satisfied using unallocated RPS Shares held in the relevant SIP trust, such that RPS intends that no RPS Shares would be (a) issued; or (b) transferred from the EBT for the purpose of the RPS SIPs. 2.5.3 RPS confirms that as of 16 September 2022 the number of unallocated RPS Shares held in the SIP trusts is 13,614, and that it will recommend that such RPS Shares are applied on a monthly basis to satisfy awards under the SIP in priority to awards being satisfied in any other manner.
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Related to RPS SIPs 2

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