ARTICLE III EFFECT OF THE MERGER ON CAPITAL STOCK
(b) Company PSUs.
(i) As of the Effective Time, each Company PSU that is vested in accordance with its terms and outstanding as of immediately prior to the Effective Time (each, a “Vested Company PSU”) shall be canceled and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the total number of shares of Company Common Stock subject to such Vested Company PSU based on the achievement of the applicable performance metrics at the level of performance for which such Vested Company PSU vested in accordance with its terms and (ii) the Merger Consideration (the “Vested PSU Consideration”).
(ii) As of the Effective Time, each Company PSU that is outstanding immediately prior thereto and that is not a Vested Company PSU (each, an “Unvested Company PSU”) shall be canceled and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the total number of shares of Company Common Stock subject to such Unvested Company PSU based on the achievement of the applicable performance metrics at the target level of performance and (ii) the Merger Consideration (the “Unvested PSU Consideration”). Subject to the holder’s continued service with Parent and its Affiliates (including the Surviving Corporation and its Subsidiaries) through the applicable vesting dates, such Unvested PSU Consideration will vest and become payable at the same time as the Unvested Company PSU from which such Unvested PSU Consideration was converted would have vested and been payable pursuant to its terms and shall otherwise remain subject to the same terms and conditions as were applicable to the underlying Unvested Company PSU immediately prior to the Effective Time (except that performance-based vesting metrics and criteria shall not apply from and after the Effective Time).
【参考訳】(b) 会社のPSU。
(i) 効力発生時間において、その条項に従って権利が発生しており、効力発生時間直前に未だ有効な各会社PSU（以下、「権利発生会社PSU」）は、キャンセルされ、その権利発生会社PSUに対応する会社普通株の総数と合併対価との積と等価な現金額（利息無し）を受け取る権利に変換される（以下、「権利発生PSU対価」）。
(ii) 効力発生時間において、有効であり、かつ権利発生会社PSUでない各会社PSU（以下、「権利未発生会社PSU」）は、キャンセルされ、その権利未発生会社PSUに対応する会社普通株の総数と合併対価との積と等価な現金額（利息無し）を受け取る権利に変換される（以下、「権利未発生PSU対価」）。その保有者が親会社及びその関連会社（存続会社及びその子会社を含む）との間の継続的なサービスに従事し続ける場合、その権利未発生PSU対価は、その権利未発生会社PSUから変換されたものがその条項に基づいて権利が発生し、支払われるべきだった同じ時期に権利が発生し、支払われることとなる（ただし、効力発生時間以降は、業績に基づく権利発生の指標と基準は適用されない）。
