Examples of Deferred RSUs in a sentence
The non-employee director compensation program provides that, in the event of our change in control, each outstanding award of Deferred RSUs held by a non-employee director will be settled in shares of Maxwell common stock as of immediately prior to the effective time.
The Deferred RSUs shall be payable annually in four equal installments over the four-year period following the grant date, subject to acceleration in the event of the Employee’s termination of employment, in accordance with the specific terms set forth in the Award Agreement.
Accordingly, shares of Maxwell common stock issued pursuant to Deferred RSUs will be treated in the same manner as other shares of Maxwell common stock outstanding immediately prior to the effective time, as described further above.
Deferred RSUs are paid at the director’s election in a lump sum or equal annual installments over a period not to exceed three years.
Xxxxx (the “Xxxxx RSU”), such Xxxxx RSU shall be treated as if Xx. Xxxxx was a Designated Executive and, therefore, shall be converted in accordance with the provisions set forth in Section 3.3(a) above; and (iii) with respect to the Deferred RSUs held by Xxxxx X.