Conversion of Restricted Stock Units and Issuance of Shares Contract Clauses (22)

Conversion of Restricted Stock Units and Issuance of Shares. Upon the vesting of all or any portion of the Award in accordance with Section 2 hereof, one share of the Company's Common Stock, $0.01 par value, shall be issuable for each restricted stock unit that vests on such date (the "Shares"), subject to the terms and provisions of the Plan and this Agreement. Thereafter, the Company will transfer such Shares to the Employee upon satisfaction of any required tax withholding obligations. No fractional shares shall be issued under this Agreement. 3 4. Rig...hts as a Stockholder. The Employee shall not be entitled to any privileges of ownership (including any voting rights or rights with respect to dividends paid on the Common Stock) with respect to any of the Shares issuable under the Award unless and until, and only to the extent, the Award is settled by the issuance of such Shares to the Employee. View More

Conversion of Restricted Stock Units and Issuance of Shares. Upon the vesting of the Award in accordance with Section 2 hereof, one share of Common Stock shall be issuable for each restricted stock unit that vests on such date (the "Shares"), subject to the terms and provisions of the Plan and this Agreement. Thereafter, the Company will transfer such Shares to the Director in accordance with the provisions hereof. No fractional shares shall be issued under this Agreement.