Upon the occurrence of a Change in Control, as defined in [Section 9(b)], any restrictions, deferral of settlement, and forfeiture conditions applicable to an Award shall lapse, and any performance goals and conditions applicable to an Award shall be deemed to have been met, as of the time of the Change in Control.
Impact of Change of Control. The terms of any Performance Award may provide in the occurrenceAward Agreement evidencing the Award that, upon a Change of a Change in Control, as defined in [Section 9(b)], any restrictions, deferralControl of settlement, and forfeiture conditions applicable to an Award shall lapse, and any performance goals and conditions applicable to an Awardthe Company, all Performance Awards shall be deemedconsidered to have been met,be earned and payable (either in full or pro rata based on the portion of the Performance Period completed as of the timedate of the Change of Control), and any deferral or other restriction shall lapse and such Performance Awards shall be immediately settled or distributed. For purposes hereof, a Change of Control shall mean an event described in Control.[Section 2.5].
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.