Summary of Amendments to Fisher Scientific International Inc. Restricted Stock Unit Awards (Thermo Fisher Merger)
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Summary
This document summarizes changes to restricted stock unit (RSU) awards originally granted by Fisher Scientific International Inc. following its merger with Thermo Electron Corporation (now Thermo Fisher Scientific Inc.) on November 9, 2006. After the merger, Fisher's RSU awards were converted into Thermo Fisher RSU awards using the merger exchange ratio. The performance conditions for vesting were deemed satisfied at closing, and the awards now vest in three equal parts on the first three anniversaries of the original grant date, provided the holder remains employed. Alan Malus and Joseph Massaro were among the affected award holders.
EX-10.81 6 tmok06ex10_81.htm TMO 10-K EXHIBIT 10.81 TMO 10-K Exhibit 10.81
Exhibit 10.81
Summary of Amendments to Certain Fisher Scientific International Inc.
Restricted Stock Unit Awards
In connection with the closing of the merger of Thermo Electron Corporation (the predecessor to Thermo Fisher Scientific Inc., also referred to as “the company”) and Fisher Scientific International Inc. (“Fisher”) on November 9, 2006, each existing stock unit award in respect of Fisher common stock was assumed by the company and converted into a stock unit award in respect of the number of shares of company common stock equal to the number of shares of Fisher common stock subject to the Fisher stock unit award, multiplied by the merger exchange ratio. Upon closing of the merger, each converted stock unit award had the same terms and conditions as were in effect immediately prior to the closing of the merger, except that performance conditions applicable to the vesting of the converted stock unit awards were deemed to have been satisfied upon closing of the merger, and the converted stock unit awards instead generally vest and are settled in three equal increments on the first three anniversaries of their original grant date, subject to the holder’s continued employment with the company as of each such vesting date, with certain exceptions. Alan Malus and Joseph Massaro were among the holders at the time of the closing of the merger of stock unit awards including performance conditions that were so converted.
