Deferred Stock Units. (A) Each Tyco Deferred Stock Unit that is outstanding immediately prior to the Distribution Date and which is held by a Tyco Director shall be adjusted such that the number of Tyco Deferred Stock Units reflects the impact of the Distribution as set forth in Section 6.1(c). Such converted awards shall remain subject to the terms and conditions in effect with respect to the award immediately preceding the Distribution Date. (B) Each Tyco Deferred Stock Unit that is outstanding immediately prior to the Distribution Date and which is held by an employee listed in Schedule 6.1(d) shall be adjusted such that the number of Tyco Deferred Stock Units reflects the impact of the Distribution as set forth in Section 6.1(c). Such converted awards shall remain subject to the terms and conditions in effect with respect to the award immediately preceding the Distribution Date.
Appears in 3 contracts
Sources: Separation and Distribution Agreement (Covidien Ltd.), Separation and Distribution Agreement (Tyco Electronics Ltd.), Separation and Distribution Agreement (Tyco International LTD /Ber/)