Change of Control of Company. In the event of a Change of Control, the Restricted Stock Units subject to this Agreement shall immediately become fully vested, and the Shares corresponding to such Restricted Stock Units shall be distributed as soon as practicable following the Change of Control; provided, however, that, in the event any modification to the Internal Revenue Code of 1986, as amended (the “Code”) is enacted into law that would be applicable to the distribution of stock contemplated in this Paragraph 9 and that would impose a tax penalty or additional tax liability by reason of such distribution being made within a specified period following a Change of Control, such distribution shall be deferred, if possible, to the extent necessary to avoid such tax penalty or additional tax.
Appears in 1 contract
Sources: Restricted Stock Unit Agreement (Bon Ton Stores Inc)
Change of Control of Company. In the event of a Change of Control, the Restricted Stock Units subject to this Agreement shall immediately become fully vested, and the Shares corresponding to such Restricted Stock Units shall be distributed as soon as practicable following the Change of Control; provided, however, that, in the event any modification to the Internal Revenue Code of 1986, as amended (the “"Code”") is enacted into law that would be applicable to the distribution of stock contemplated in this Paragraph Section 9 and that would impose a tax penalty or additional tax liability by reason of such distribution being made within a specified period following a Change of Control, such distribution shall be deferred, if possible, to the extent necessary to avoid such tax penalty or additional tax.
Appears in 1 contract
Sources: Restricted Stock Unit Agreement (Bon Ton Stores Inc)