Sharesave. 6.1 TClarke confirms that it does not intend to grant any further Sharesave options and acknowledges that the grant of any new Sharesave options will require the prior written consent of the Bidder.
Sharesave. 4.1 Unless paragraph 4.2 applies, Shell agrees to offer participants in the Sharesave the opportunity following the date of the Scheme Order (or the Unconditional Date, as the case may be) to release all or any of their Sharesave options over BG Shares (“Original Options”) in consideration for the grant of an equivalent option over Shell B Shares (“Replacement Option”) on and subject to the rules of the Sharesave and any approvals that may be required of HMRC (“Option Rollover”). Shell and BG will seek to agree with HMRC that the ratios on the basis of which an Original Option shall be exchanged for a Replacement Option shall be calculated by reference to the respective market values attributable to a Shell B Share and a BG Share by the value of the Offer Consideration measured at the date of the Scheme Order (or the Unconditional Date, as the case may be) or at such other time as is agreed by Shell and BG and approved by HMRC.
Sharesave. Paddy Power agrees to offer participants in the Betfair Sharesave Plan and the Betfair Irish Sharesave Plan the opportunity following the Effective Date (or the Unconditional Date, as the case may be), to release all or any of their Sharesave options over Betfair Shares (“Original Options”) in consideration for the grant of an equivalent option over Paddy Power Shares (“Replacement Option”) on and subject to the rules of the Betfair Sharesave Plan or the Betfair Irish Sharesave Plan (as applicable) and any approvals that may be required of the relevant tax authorities (“Option Rollover”). Options granted to existing employees of Paddy Power who are participants in the Paddy Power Share Save Scheme prior to the Effective Date (or the Unconditional Date, as the case may be) will remain unchanged and will continue in accordance with the terms of the Paddy Power Share Save Scheme.
