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PCG » Topics » Effect of Change in Control on Nonemployee Director Awards.

This excerpt taken from the PCG 10-K filed Feb 24, 2009.
Effect of Change in Control on Nonemployee Director Awards.  Upon the occurrence of a Change in Control, (i) the vesting of all shares of Restricted Stock granted pursuant to Section 7.1(a) shall be accelerated so that all such shares become fully vested, (ii) the vesting of Nonstatutory Stock Options granted pursuant to Section 7.3(a) shall be accelerated and such Nonstatutory Stock Options shall remain fully exercisable until the Option Expiration Date, and (iii) all Restricted Stock Units shall immediately vest and be settled in accordance with Section 7.4(c).  
 
7.7           
These excerpts taken from the PCG 10-K filed Feb 22, 2008.
Effect of Change in Control on Nonemployee Director Awards.  Upon the occurrence of a Change in Control, (i) the vesting of all shares of Restricted Stock granted pursuant to Section 7.1(a) shall be accelerated so that all such shares become fully vested, (ii) the vesting of Nonstatutory Stock Options granted pursuant to Section 7.3(a) shall be accelerated and such Nonstatutory Stock Options shall remain fully exercisable until the Option Expiration Date,
 

  
 
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and (iii) all Restricted Stock Units shall be settled in accordance with Section 7.4(c) as if the Change of Control constituted Director Retirement.  
 
7.7 
Effect of Change in Control on
Nonemployee Director Awards.  Upon the occurrence of a Change
in Control, (i) the vesting of all shares of Restricted Stock granted
pursuant to Section 7.1(a) shall be accelerated so that all such shares
become fully vested, (ii) the vesting of Nonstatutory Stock Options granted
pursuant to Section 7.3(a) shall be accelerated and such Nonstatutory Stock
Options shall remain fully exercisable until the Option Expiration
Date,

 





  


 



18






 




and (iii)
all Restricted Stock Units shall be settled in accordance with Section 7.4(c) as
if the Change of Control constituted Director
Retirement.  

 

7.7 

EXCERPTS ON THIS PAGE:

10-K
Feb 24, 2009
10-K (2 sections)
Feb 22, 2008

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