Company Performance Award definition
Examples of Company Performance Award in a sentence
Effective as of the Effective Time, each other Company Performance Award that remains outstanding as of the Effective Time will be cancelled and terminated without any consideration payable to the holders thereof.
Any Converted Performance Awards issued pursuant to this Section 2.3(d) shall be subject to the same terms and conditions as were applicable to such Company Performance Award; provided, however, vesting provisions relating to achievement of performance targets shall be subject to revision, in the reasonable discretion of Parent, following the Closing in order to appropriately reflect the acquisition by Parent and changes to the business of the Company as a result thereof.
At the Effective Time, each Company restricted stock unit (other than any Company Performance Award) that is outstanding immediately prior to the Effective Time (each, a “Company Restricted Stock Unit”), whether or not then vested, shall be converted into that number of restricted stock units of Parent Common Stock (“Converted Restricted Stock Unit”) equal to the product of (A) the number of shares of Company Common Stock subject to such award of Company Restricted Share Units and (B) the Exchange Ratio.
The Company has made available to Parent a list that is current, accurate and complete in all material respects, as of February 12, 2010, of each Company Stock-Based Award, including the name of the holder thereof, the name of the Company Stock Plan under which such award was granted and the number of shares of Company Common Stock subject thereto, determined assuming that the maximum level of performance is achieved with respect to each Company Performance Award and Company Phantom Performance Award.
Any Company Performance Awards that are deemed earned in accordance with the foregoing sentence will then (following the vesting of any Company Performance Award, in whole or in part, pursuant to its terms as a result of the transactions contemplated by this Agreement) be subject to vesting based on continued service with the Company, Parent, Ultimate Parent or their respective Subsidiaries through the scheduled vesting dates applicable to such awards.