Settlement and Delivery of Stock. This provision supplements Paragraph 2(f) of the Performance Unit Agreement: Settlement of the Performance Units is conditioned on the Company’s completion of the initial registration of the Plan with SAFE and the continued effectiveness of such registration based on necessary follow-up filings with SAFE (the “SAFE Registration”). If the Company is unable to complete or maintain the SAFE Registration for any reason, no shares of Stock subject to the Performance Units shall be issued. Furthermore, notwithstanding anything in the Performance Unit Agreement, if Participant’s employment or service relationship with the Company Group is terminated at a time when the SAFE Registration is not in effect, all Performance Units shall not vest or shall be forfeited if vested.
Appears in 2 contracts
Samples: Performance Unit Agreement (Yum China Holdings, Inc.), Performance Unit Agreement (Yum China Holdings, Inc.)
Settlement and Delivery of Stock. This provision supplements Paragraph 2(f) of the Performance Restricted Stock Unit Agreement: Settlement of the Performance Restricted Stock Units is conditioned on the Company’s completion of the initial registration of the Plan with SAFE and the continued effectiveness of such registration based on necessary follow-up filings with SAFE (the “SAFE Registration”). If the Company is unable to complete or maintain the SAFE Registration for any reason, no shares of Stock subject to the Performance Restricted Stock Units shall be issued. Furthermore, notwithstanding anything in the Performance Restricted Stock Unit Agreement, if Participant’s employment or service relationship with the Company Group is terminated at a time when the SAFE Registration is not in effect, all Performance Restricted Stock Units shall not vest or shall be forfeited if vested.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Yum China Holdings, Inc.)
Settlement and Delivery of Stock. This provision supplements Paragraph 2(f) of the Performance Unit Agreement: Settlement The implementation of the Plan or settlement of the Performance Units is conditioned on the Company’s completion of the initial registration of the Plan with SAFE and the continued effectiveness of such registration based on necessary follow-up filings with SAFE (the “SAFE Registration”). If the Company is unable to complete or maintain the SAFE Registration for any reason, no shares of Stock subject to the Performance Units shall be issued. Furthermore, notwithstanding anything in the Performance Unit Agreement, if Participant’s employment or service relationship with the Company Group is terminated at a time when the SAFE Registration is not in effect, all Performance Units shall not vest or shall be forfeited if vested.
Appears in 1 contract
Samples: Performance Unit Agreement (Yum China Holdings, Inc.)