Common use of Parent RSUs Clause in Contracts

Parent RSUs. Within two Business Days following the Closing Date the Continuing Employees will be awarded 45,966,445 Parent RSUs (the “Employee RSUs”) and up to an additional 766,107 Parent RSUs (the “New Hire RSUs”) by the compensation committee of Parent’s board of directors, which Employee RSUs and New Hire RSUs shall be allocated as determined by the Chief Executive Officer of the Company following consultation with Parent; provided, that (a) New Hire RSUs may only be allocated to individuals who are first hired by the Company during the Pre-Closing Period and (b) unless Parent consents thereto, any allocation of New Hire RSUs must be consistent with Parent’s new hire equity bands. The Employee RSUs will be subject to all of the terms and conditions set forth in the Plan, the recipient’s offer letter with Parent, a restricted stock unit agreement to be entered into between the recipients of such Employee RSUs and Parent setting forth vesting terms that are in accordance with Parent’s standard policies and Schedule 5.12. No Continuing Employee shall be deemed to be a third party beneficiary of this Section 5.12.

Parent RSUs. Within two Business Days following the Closing Date the Continuing Employees will be awarded 45,966,445 Parent RSUs (the “Employee RSUs”) and up to an additional 766,107 Parent RSUs (the “New Hire RSUs”) by the compensation committee of Parent’s board of directors, which Employee RSUs and New Hire RSUs shall be allocated as determined by the Chief Executive Officer of the Company following consultation with Parent; Parent; provided, that (a) New Hire RSUs may only be allocated to individuals who are first hired by the Company during the Pre-Closing Pre­Closing Period and (b) unless Parent consents thereto, any allocation of New Hire RSUs must be consistent with Parent’s new hire equity bands. The Employee RSUs will be subject to all of the terms and conditions set forth in the Plan, the recipient’s offer letter with Parent, a restricted stock unit agreement to be entered into between the recipients of such Employee RSUs and Parent setting forth vesting terms that are in accordance with Parent’s standard policies and Schedule 5.12. No Continuing Employee shall be deemed to be a third party beneficiary of this Section 5.12.