Conversion of RSUs. (a) The conversion rate of RSUs into the right to receive a number of shares of Common Stock depends on the “Intel TSR” relative to the “S&P 500 IT TSR” at the end of the “Performance Period,” as those terms are defined in this Section 4. The conversion rate of RSUs into the right to receive a number of shares of Common Stock will be determined in accordance with following:
Conversion of RSUs. Subject to Section 2(h) below, vested RSUs shall be converted into shares of Common Stock and be distributed to the Grantee within 30 days following the earlier of (i) “separation from service” or (ii) Change in Control. “Separation from service” (and variations thereof) shall, for all purposes of this Agreement, have the meaning given in Section 1.409A-1(h) of the Treasury Regulations (or any successor provision).
Conversion of RSUs. (a) The conversion multiplier for converting RSUs into the right to receive a number of shares of Common Stock will be determined by combining two equally weighted components at the end of the Performance Period (as defined below), subject to a maximum conversion multiplier of 200% and certification of the conversion multiplier by the Committee (as defined below). Those components, as explained below in this Section 4 are: (i) the Intel Relative TSR and (ii) Intel EPS Growth. The maximum percentage for each component is 200%. In the event that the conversion multiplier results in the right to receive a partial share of Common Stock, the partial share will be rounded down to zero.
Conversion of RSUs. No shares of Common Stock shall be issued to a Participant prior to the applicable Vesting Date. After an RSU vests, the Company shall promptly cause to be registered in Participant’s name or in the name of the executor or personal representative of the Participant’s estate, as the case may be, one share of Common Stock in payment for each vested RSU. For purposes of the Award, the date on which vested RSUs are converted into Common Stock shall be referred to as the “Conversion Date.”
Conversion of RSUs. The conversion rate of RSUs into the right to receive a number of shares of Common Stock depends on the Corporation’s Total Stockholder Return (“Intel TSR”) relative to the Total Stockholder Return of the Comparison Group (“CG TSR”) at the end of the Performance Period, as those terms are defined below. The minimum conversion rate shall be 33% of the Target Number of Shares as specified on the Notice of Grant and the maximum conversion rate shall be 200% of the Target Number of Shares as specified on the Notice of Grant. If the Intel TSR and CG TSR are within 1 percentage point, the conversion rate shall be 100%. If the Intel TSR is less than the CG TSR, the conversion rate shall be 100% minus two times the difference in percentage points. If the Intel TSR is greater than the CG TSR, the conversion rate shall be 100% plus three times the difference in percentage points. In the event that the conversion rate results in the right to receive a partial share of Common Stock, the conversion rate shall be rounded down so that the RSUs shall not convert into the right to receive the partial share. By way of illustration, assume the CG TSR is 100%. If the Intel TSR equals 100.5%, the conversion rate is 100%, so that your RSUs convert into the right to receive 100% of the Target Number of Shares. If the Intel TSR is 90%, the difference is 10 percentage points and the conversion rate is 80%, so that your RSUs convert into the right to receive 80% of the Target Number of Shares. If the Intel TSR is 105%, the difference is 5 percentage points and the conversion rate is 115%, so that your RSUs convert into the right to receive 115% of the Target Number of Shares.
Conversion of RSUs. The conversion rate of RSUs into the right to receive a number of shares of Common Stock depends on the Corporation’s Total Stockholder Return (“Intel TSR”) relative to the Total Stockholder Return of the Comparison Group (“CG TSR”) at the end of the Performance Period, as those terms are defined below. The minimum conversion rate shall be 33% of the Target Number of Shares as specified on the Notice of Grant and the maximum conversion rate shall be 200% of the Target Number of Shares as specified on the Notice of Grant. If the Intel TSR and CG TSR are within 1 percentage point, the conversion rate shall be 100%. If the Intel TSR is less than the CG TSR, the conversion rate shall be 100% minus two times the difference in percentage points. If the Intel TSR is greater than the CG TSR, the conversion rate shall be 100% plus three times the difference in
Conversion of RSUs. The Grantee shall be entitled to receive a payment with respect to the Grantee’s vested RSUs credited to the Grantee’s RSU Account on the first vesting date as provided in Paragraph 3, which is the earlier of (i) the Service Date, (ii) the Separation Date or (iii) the Change of Control Date. The date on which the vested RSUs credited to the Grantee’s RSU Account are payable to the Grantee pursuant to the immediately preceding sentence is referred to as the “Conversion Date”. Each RSU credited to the Grantee’s RSU Account shall be converted into and settled in cash, with such cash payment equal to the Fair Market Value of a whole share of common stock of the Company on the Conversion Date multiplied by the number of vested RSUs credited to the Grantee’s RSU Account on the Conversion Date. The Company shall make such cash payment to the Grantee within thirty (30) days after the Conversion Date. Any RSUs not vested because of the failure to satisfy the vesting conditions are forfeited as described in Paragraph 3 above.
Conversion of RSUs. In the event of a Parent or Company IPO, the Company shall use commercially reasonable efforts to cause any rights in respect of Matching RSUs and any Annual RSUs that are then outstanding to be converted at or about the occurrence of the Parent or Company IPO, on a basis that does not cause Executive to incur a taxable event by reason of such conversion and does not cause Code Section 409A(a)(1) to apply, into rights in respect to the class of common stock of the Public Entity that is offered for sale in the Parent or Company IPO having a value at the date of conversion equivalent to the value of Executive’s rights in respect of the Applicable Common Stock represented by such Matching RSUs and Annual RSUs.
Conversion of RSUs. In the event this Award vests prior to the Effective Time, as soon as practicable after the vesting of this Award, TCO will issue and transfer to the Company one share of Common Stock for each RSU granted and vested under this Award as determined according to paragraph 3 above. In the event the Effective Time occurs while this Award is outstanding, upon the Effective Time and in accordance with the Plan and pursuant to the Merger Agreement, the RSUs shall convert into a right to receive a cash payment equal to the product of (x) $52.50 and
Conversion of RSUs. In connection with the Merger, the Company shall use commercially reasonable efforts to cause any rights in respect of matching awards of restricted stock units granted under the EOP (“Matching RSUs”) and any Annual RSUs that are outstanding at the Merger Effective Time to be converted, on a basis that does not cause Executive to incur a taxable event by reason of such conversion and does not cause Code Section 409A(a)(1) to apply, into rights in respect to the Common Stock, having a value at the Merger Effective Date equivalent to the value of Executive’s rights in respect of such Matching RSUs and Annual RSUs.
