Equity Restructuring. In connection with any Equity Restructuring, notwithstanding anything to the contrary in this Article VIII, the Administrator will equitably adjust each outstanding Award as it deems appropriate to reflect the Equity Restructuring, which may include adjusting the number and type of securities subject to each outstanding Award and/or the Award’s exercise price or ▇▇▇▇▇ ▇▇▇▇▇ (if applicable), granting new Awards to Participants, and making a cash payment to Participants. The adjustments provided under this Section 8.1 will be nondiscretionary and final and binding on the affected Participant and the Company; provided that the Administrator will determine whether an adjustment is equitable.
Appears in 3 contracts
Sources: Business Combination Agreement (L&F Acquisition Corp.), Merger Agreement (Locust Walk Acquisition Corp.), Merger Agreement (FAST Acquisition Corp.)