Terms and Conditions of Exchange. For greater certainty, the Masonite Securityholder will receive no consideration for the Employee Rollover Options other than the Replacement Option(s). The number of Stile Holding Shares and the exercise price per share under the Replacement Option(s) has been determined on the basis that the aggregate In-the-Money Amount of the Replacement Option(s), immediately after the exchange, will be equal to the aggregate In-the-Money Amount of the Employee Rollover Options, immediately before the exchange. Upon the exchange, the Employee Rollover Options will be cancelled.
Appears in 2 contracts
Sources: Employee Rollover Agreement, Employee Rollover Agreement (Masonite International Corp)