Deferred Stock. As soon as administratively practicable after -------------- the Distribution Date, holders of Existing HMC Stock Awards of deferred shares shall have their accounts, determined as of the Distribution Date, treated as follows: (1) the Existing HMC Stock Awards of each Retained Employee and Retained Individual will be adjusted to the number of Host REIT Stock with a total value based on the HMC Stock Price equal to the Aggregate Value of the shares credited to their accounts, and (2) the Existing HMC Stock Awards of each Crestline Employee will be assumed by the Crestline Comprehensive Stock Incentive Plan and credited to accounts under such plan, as appropriate, and will be adjusted to the number of shares of Crestline Common Stock with a total value based on the Crestline Stock Price equal to the Aggregate Value of the shares credited to their accounts.
Appears in 2 contracts
Sources: Employee Benefits and Other Employment Matters Allocation Agreement (Crestline Capital Corp), Employee Benefits and Other Employment Matters Allocation Agreement (HMC Merger Corp)