Going Private Transaction. If an Acceleration Event occurs that constitutes a change in control under Section 409A of the Code and any related regulations or other effective guidance promulgated thereunder (“Section 409A”) and, immediately following the Acceleration Event the common stock of the Company (or, if applicable, its successor) is not publicly traded, the Award shall immediately become 100% vested as of the date of the Acceleration Event and be settled in cash on such date in the amount described in clause (iii) below.
Appears in 7 contracts
Samples: Omnibus Incentive Plan (Itt Inc.), Corporation 2011 Omnibus Incentive Plan (ITT Corp), Omnibus Incentive Plan (ITT Inc.)
Going Private Transaction. If an Acceleration Event occurs that constitutes a change in control under Section 409A of the Code and any related regulations or other effective guidance promulgated thereunder (“Section 409A”) and, immediately following the Acceleration Event the EXHIBIT 10.1 common stock of the Company (or, if applicable, its successor) is not publicly traded, the Award shall immediately become 100% vested as of the date of the Acceleration Event and be settled in cash on such date in the amount described in clause (iii) below.
Appears in 2 contracts
Samples: Omnibus Incentive Plan (ITT Inc.), Omnibus Incentive Plan (ITT Inc.)