CenterPoint Energy 2014 Annual Report Download - page 185
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Participant’
s Service terminates for any reason before the Vesting Date, all unvested shares as of the date the
Participant’s Service terminates for any reason shall be forfeited as of such termination date.
4.
Distribution Upon a Change in Control.
(a) Notwithstanding any provision of this RSU Award Agreement to the contrary, upon the occurrence
of a Change in Control of the Company, provided the Participant’
s Service has not terminated prior to such date,
the Participant’s right to receive the unvested shares of Common Stock subject to this RSU
Award Agreement
shall be settled by a distribution to the Participant of:
(i)
the number of shares of Common Stock subject to this RSU
Award Agreement not
previously vested pursuant to Section 3 above, plus
(ii)
Dividend Equivalents on such shares of Common Stock in the form of shares of Common
Stock (rounded up to the nearest whole share) for the period commencing on the Grant Date and ending
on the date immediately preceding the date of the consummation of the Change in Control (the “
Change
in Control Closing Date”);
with such shares of Common Stock registered in book-entry form with the Company’
s transfer agent in the
Participant’s name.
(b) In lieu of the distribution in shares under clause (a) above, the Committee, in its sole discretion, may
direct that such distribution be made to the Participant in a lump sum cash payment equal to:
(i) the product of (x) the Fair Market Value per share of Common Stock on the date immediately
preceding the Change in Control Closing Date and (y) the number of shares of Common Stock subject to
this RSU Award Agreement not previously vested pursuant to Section 3 above, plus
(ii) Dividend Equivalents on such shares of Common Stock for the period commencing on the
Grant Date and ending on the date immediately preceding the Change in Control Closing Date;
with such cash payment to be made to the Participant not later than 70 days after the Change in Control Closing
Date. The Company shall have the right to withhold applicable taxes from any such distribution of the Common
Stock (including, but not limited to, Dividend Equivalents) or from other cash compensation payable to the
Participant at the time of such vesting and delivery pursuant to Section 11 of the Plan.
(c) The distribution under this Section 4, whether in the form of shares of Common Stock or, if directed
by the Committee, in cash, shall satisfy the rights of the Participant and the obligations of the Company under
this RSU Award Agreement in full.
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