Examples of McAfee Shares in a sentence
As a result, you should consult with your personal tax advisor for current information and further guidance regarding your personal tax liabilities and responsibilities associated with the adjustment of your FTW Awards, the grant, vesting and exercise of McAfee Awards, any dividends or distributions under Company Awards, and the sale of McAfee Shares.
FTW Class A Units issued to you prior to the Effective Time (however acquired) may, at your election, but subject to the terms of the LLC Agreement (including the right of McAfee to cash settle exchanged FTW Class A Units), be exchanged for McAfee Shares (but, notwithstanding any term of the LLC Agreement to the contrary, in no event earlier than January 1, 2021).
Except as otherwise permitted by the Company pursuant to Section 9 below or as otherwise set forth in the Non-U.S. Addendum, a portion of such McAfee Shares will be sold pursuant to a broker-assisted sale in order to generate sufficient cash to satisfy applicable withholding taxes, if any (at up to maximum statutory withholding rates) in respect of such FTW RSUs and/or FTW CRSUs, as applicable.
In case of payments received in connection with your Company Awards (including any proceeds realized upon the sale of McAfee Shares or the receipt of any dividends or cash payment in lieu of TRA benefit), the report must be filed electronically by the fifth day of the month following the month in which the payment is received.
This Non-U.S. Addendum includes special terms and conditions that govern your Awards (“FTW Awards”) and any equity-based incentive awards of McAfee you are receiving under the Agreement (including McAfee Shares, “McAfee Awards” and, together with FTW Awards, “Company Awards”), if you reside and/or work in one of the countries listed below.
As of immediately following the Effective Time, Awards consisting of or in respect of (a) 14,782,684 FTW Management Incentive Units, (b) 1,505,400 FTW Class A Units are outstanding under the Plan, and (c) 47,725,582 McAfee Shares are available for issuance under the Plan.
Vested FTW MIUs (including FTW MIUs that, by their terms as adjusted herein, become vested following the IPO), may, at the election of the Participant, but not earlier than January 1, 2021 and subject to the other terms of the LLC Agreement (including the right of McAfee to cash settle exchanged Units of FTW), be exchanged for McAfee Shares after first being converted to FTW Class A Units.
In the event that “you” is construed to refer to a current or former individual employee of, or other service provider to, the Company, and related persons (e.g., permitted transferees of such individual), this Agreement shall be construed so all rights of such individual and such related persons shall be applied on a pro rata or other equitable basis among such individual and such other persons (e.g., rights to sell McAfee Shares pursuant to Section 7).
Any McAfee Shares or other securities, property or rights withheld pursuant to the immediately preceding sentence will be treated as having been delivered to you for all purposes.
WARNING: The grant of McAfee Awards and the issuance of McAfee Shares under McAfee Awards do not constitute public offerings of securities under Hong Kong law and are available only to certain eligible employees.