Event-Vested Optioned Shares

Event-Vested Optioned Shares. The Optioned Shares that become Vested Optioned Shares upon a Business Unit Divesture or a Reduction in Force. For purposes of this Agreement, to determine the pro rata number of the Optioned Shares that become Event-Vested Optioned Shares on the occurrence of the applicable event, the total number of outstanding non-Vested Optioned Shares immediately prior to the date of the applicable event is to be divided by thirty six (36) and the resulting quotient multiplied by the number of months from... the Grant Date to the date of the applicable Vesting event for which such pro rata calculation is to be made (the "Included Months"). For purposes of this calculation, the Included Months shall include (a) the calendar month of the Grant Date only if such date is prior to the 16th day of such month, and (b) the calendar month of the event triggering the pro rata calculation only if such event occurred subsequent to the 15th day of such month. The pro rata calculation result shall be upwardly adjusted, if necessary, to the nearest whole Share. View More