|J. C. Penney Company, Inc. Grants Equity Inducement Award to Daniel Walker|
The RSUs will vest in thirds on the fourth, fifth and sixth anniversary, respectively, of the grant date, provided Mr. Walker remains continuously employed with the Company through those dates. The award vests pro rata if Mr. Walker is terminated for any reason other than cause, and it will fully vest if his employment terminates in certain cases within two years following a change of control at the Company.
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