Examples of PayPal Equity Awards in a sentence
PayPal shall also assume and honor the terms of all QDROs and any other domestic relations orders in effect under the eBay Equity Plan in respect of PayPal Group Employees immediately prior to the Distribution Date (for PayPal Group Employees) for all purposes of PayPal Equity Awards under the PayPal Equity Plan.
To the extent necessary for any such awards to qualify for transitional relief under Treasury Regulation Section 1.162-27(f)(4)(iii), eBay shall take the necessary action to grant or approve the PayPal Equity Awards.
With respect to provisions related to vesting of eBay Equity Awards and, to the extent applicable, following the Effective Time, PayPal Equity Awards, an eBay Change of Control shall be treated as a PayPal Change of Control for purposes of PayPal Equity Awards held, after the Effective Time, by Continuing eBay Directors, and a PayPal Change of Control shall be treated as an eBay Change of Control for purposes of Post-Spin eBay Equity Awards held by Transferring Directors.
Each of the Parties shall establish an appropriate administration system in order to administer, in an orderly manner, (i) exercises of vested Post-Spin eBay Options and PayPal Options, (ii) the vesting and forfeiture of unvested Post-Spin eBay Equity Awards and PayPal Equity Awards, and (iii) the withholding and reporting requirements with respect to all equity awards.
Except as otherwise provided in this Section 4.02(h) and Section 4.02(i), after the Effective Time, Post-Spin eBay Equity Awards, regardless of whether held by Employees or Former Employees, shall be settled by eBay, and PayPal Equity Awards, regardless of whether held by Employees or Former Employees, shall be settled by PayPal.
Notwithstanding the foregoing, however, for all PayPal Equity Awards (other than PayPal Options) held by the Transitioning eBay Group Employees, PayPal shall be responsible for the collection of applicable withholding taxes and shall remit all such withheld amounts to the eBay Group (with eBay Group being responsible for remittance of such amounts to the appropriate Governmental Authority).
Following the Effective Time, the entitlement to Tax (as defined in the Tax Matters Agreement) deductions in respect of eBay Equity Awards and PayPal Equity Awards, as applicable, shall be governed by Section 6.02 of the Tax Matters Agreement.
Except as otherwise provided in this Section 4.02(h) and Section 4.02(i), after the Effective Time, Post-Spin eBay Equity Awards, regardless of whether held by Employees, Former Employees, Transitioning eBay Group Employees, Continuing eBay Directors or Transferring Directors, shall be settled by eBay, and PayPal Equity Awards, regardless of whether held by Employees, Former Employees, Transitioning eBay Group Employees, Continuing eBay Directors or Transferring Directors shall be settled by PayPal.