Examples of New Equity Plan in a sentence
The Option and the Restricted Share Unit Grants (collectively referred to as the “IPO Grant”) are awarded pursuant to, in accordance with, and subject to, the terms and conditions of the New Equity Plan.
Each OPC LTI Mixed-Settlement Unit that is outstanding, unvested and held by a CRC Group Employee as of immediately prior to the Effective Time (a “CRC Employee Mixed-Settlement Unit”) shall, upon the Effective Time, be converted into an award of incentive units granted under the CRC New Equity Plan with respect to a number of shares of CRC Common Stock equal to the CRC Share Number (a “CRC MSU”).
Except as provided in the foregoing provisions of this Section 3.3(d), Additional SpinCo RSAs shall be subject to the SpinCo New Equity Plan and subject to terms which are in all material respects identical (including with respect to vesting) to the terms of the RemainCo RSAs to which they relate.
Except as otherwise provided in Section 4.1(d), each Covidien Option that is outstanding as of the Effective Time that is held by a Mallinckrodt Group Employee who continues to be employed by the Mallinckrodt Group immediately after the Distribution shall be converted into an option to purchase Mallinckrodt Ordinary Shares pursuant to the terms of the Mallinckrodt New Equity Plan and shall be adjusted as described below to reflect the Distribution (each such option, a “Mallinckrodt Option”).
Each OPC DSU that is outstanding and held by a CRC Director as of immediately prior to the Effective Time (a “CRC Director DSU”) shall, upon the Effective Time, be converted into a common stock unit granted under the CRC New Equity Plan with respect to a number of shares of CRC Common Stock equal to the CRC Share Number (a “CRC DSU”).
The CRC New Equity Plan and the CRC ESPP shall each be approved prior to the Effective Time by the member of the OPC Group that is the sole shareholder of CRC at the time of such approval.
Not later than the Effective Time, Civeo shall, or shall have caused a Civeo Entity to, have adopted the Civeo New Equity Plan.
Further, OPC (or one of its Subsidiaries) shall be responsible for remitting applicable tax withholdings for Persons who hold equity-based and other long-term incentive awards outstanding pursuant to the OPC Equity Plans to each applicable taxing authority, and CRC (or one of its Subsidiaries) shall be responsible for remitting applicable tax withholdings for Persons who hold equity-based and other long-term incentive awards granted under the CRC New Equity Plan to each applicable taxing authority.
The Civeo New Equity Plan shall be approved prior to the Effective Time by Oil States, as the sole shareholder of Civeo.
OPC (or one of its Subsidiaries) will be responsible for all income, payroll, or other tax reporting related to income of Persons from equity-based and other long-term incentive awards outstanding pursuant to the OPC Equity Plans, and CRC (or one of its Subsidiaries) will be responsible for all income, payroll, or other tax reporting related to income of Persons from equity-based and other long-term incentive awards granted under the CRC New Equity Plan.