Vested Options. To the extent that a Spinco Individual is holding an award consisting of an Alltel option that is vested and outstanding as of the Distribution Date, that Spinco Individual shall be treated as experiencing a separation from service from, or otherwise terminating employment with, Alltel. Any such Alltel option shall expire unless it is exercised within the time provided in the option itself.
Appears in 4 contracts
Samples: Employee Benefits Agreement (Valor Communications Group Inc), Employee Benefits Agreement (Alltel Corp), Employee Benefits Agreement (Alltel Corp)
