Examples of LTIP Rules in a sentence
Any part of your LTIP Options that do not vest will lapse on Court Sanction.All LTIP Options will cease to be exercisable one month after the date of Court Sanction, unless they lapse earlier in accordance with the LTIP Rules (in which case they will lapse at that point if they are not exercised).
If you wish to exercise your LTIP Options, an explanation of the steps you will need to take is set out in section 6 below.If the Acquisition does not happen for any reason, your Vested LTIP Options will continue to be exercisable until their normal lapse date, subject to the LTIP Rules and your Unvested LTIP Options will continue as normal, subject to the LTIP Rules.
If you leave employment with the Tungsten Group before exercising your Vested LTIP Options (or if you have already left as a “good leaver”), the leaver provisions under the LTIP Rules will apply in the normal way.
If you hold Unvested LTIP Options and Court Sanction does not happen for any reason, your Unvested LTIP Options will continue and vest on the normal vesting date and become exercisable in accordance with the LTIP Rules.
You can still exercise your Vested LTIP Options until one month after the date of Court Sanction (unless they lapse earlier in accordance with the LTIP Rules).
Nothing in this letter or its appendices constitutes financial advice to any holder of shares, share awards or share options in Tungsten or Bidco.If there is a conflict between the information in this letter and appendices and the LTIP Rules or applicable legislation, the LTIP Rules and the legislation will prevail.
If you hold Vested LTIP Options and Court Sanction does not happen for any reason, your Vested LTIP Options will continue to be exercisable until they lapse under the LTIP Rules.