Initial Value. The per share “Initial Value” that shall apply with respect to such Performance Unit Award immediately after the Spin-Off (the “New Initial Value”) shall be equal to the product (rounded up to the nearest whole cent) of (i) the per share “Initial Value” in effect under the Performance Unit Award immediately prior to the Spin-Off (the “Pre-Spin Initial Value”) multiplied by (ii) a fraction, the numerator of which shall be equal to the Post- Spin FMV per Share, and the denominator of which shall be equal to the Pre-Spin FMV per Share.
Appears in 2 contracts
Sources: Employee Matters Agreement (Forest Oil Corp), Employee Matters Agreement (Lone Pine Resources Inc.)