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PCG » Topics » Effect of Change in Control on Other Awards

This excerpt taken from the PCG 10-K filed Feb 24, 2009.
Effect of Change in Control on Other Awards.  In the event of a Change in Control, the Acquiror may, without the consent of any Participant, either assume or continue the Company’s rights and obligations under outstanding Awards other than Options or SARs or substitute for such Awards substantially equivalent Awards covering the Acquiror’s stock.  Any such Awards which are neither assumed or continued by the Acquiror in connection with the Change in Control shall, contingent on the Change in Control, become fully vested.  Awards which are assumed or continued in connection with a Change in Control shall be subject to such
 
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additional accelerated vesting or lapse of restrictions in connection with the Participant’s subsequent termination of Service as the Board may determine.
 
14.3           
These excerpts taken from the PCG 10-K filed Feb 22, 2008.
Effect of Change in Control on Other Awards.  In the event of a Change in Control, the Acquiror may, without the consent of any Participant, either assume or continue the Company’s rights and obligations under outstanding Awards other than Options or SARs or substitute for such Awards substantially equivalent Awards covering the Acquiror’s stock.  Any such Awards which are neither assumed or continued by the Acquiror in connection with the Change in Control shall, contingent on the Change in Control, become fully vested and all restrictions shall be released immediately prior to the Change in Control.  Awards which are assumed or continued in connection with a Change in Control shall be subject to such additional accelerated vesting or lapse of restrictions in connection with the Participant’s subsequent termination of Service as the Board may determine.
 
14.3 
Effect of Change in Control on Other
Awards.  In
the event of a Change in Control, the Acquiror may, without the consent of any
Participant, either assume or continue the Company’s rights and obligations
under outstanding Awards other than Options or SARs or substitute for such
Awards substantially equivalent Awards covering the Acquiror’s
stock.  Any such Awards which are neither assumed or continued by the
Acquiror in connection with the Change in Control shall, contingent on the
Change in Control, become fully vested and all restrictions shall be released
immediately prior to the Change in Control.  Awards which are assumed
or continued in connection with a Change in Control shall be subject to such
additional accelerated vesting or lapse of restrictions in connection with the
Participant’s subsequent termination of Service as the Board may
determine.

 

14.3 

EXCERPTS ON THIS PAGE:

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

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