Form and Time of Payment of RSUs Contract Clauses (24)

Form and Time of Payment of RSUs. (a) General: Subject to Section 5 and Section 6(b), payment for Vested RSUs will be made in shares of Common Stock within 15 days following the Vesting dates specified in Section 5. (b) Other Payment Events. Notwithstanding Section 6(a), to the extent that the RSUs are Vested on the dates set forth below, payment with respect to the RSUs will be made as follows: (i) Change in Control. Within 15 days of a Change in Control, the Participant will receive payment for Vested RSUs in shares of Common ...Stock; provided, however, that if such Change in Control would not qualify as a permissible date of distribution under Section 409A(a)(2)(A) of the Code, and the regulations thereunder, and where Section 409A of the Code applies to such distribution, the Participant is entitled to receive the corresponding payment on the date that would have otherwise applied pursuant to Sections 6(a) or 6(b)(ii) as though such Change in Control had not occurred. (ii) Death or Disability. Within 15 days of the date of the Participant's termination of employment due to the Participant's death or Disability, the Participant will receive payment for Vested RSUs in shares of Common Stock. View More

Form and Time of Payment of RSUs. (a)Payment for the RSUs, after and to the extent they have become vested, shall be made in the form of Common Shares. Payment shall be made within 10 days following the date that the RSUs become vested pursuant to Section 1 or Section 4 hereof. (b)Except to the extent provided by Section 409A of the Code and permitted by the Committee, no Common Shares may be issued to the Holder at a time earlier than otherwise expressly provided in this Agreement. (c)The Company's obligations to the Holder wit...h respect to the RSUs will be satisfied in full upon the issuance of Common Shares corresponding to such RSUs. View More

Form and Time of Payment of RSUs. (a) Payment for the RSUs, after and to the extent they have become vested and nonforfeitable, shall be made in the form of shares of Common Stock. (b) With respect to RSUs granted to a Participant who will not become eligible for Retirement at any time during the Vesting Period, payment for such RSUs shall be made as soon as administratively practicable following (but no later than thirty (30) days after) the date that the RSUs vest and become nonforfeitable pursuant to Section 4 hereof and in a...ll events within the short-term deferral period specified in Treasury Regulation § 1.409A-1(b)(4). (c) With respect to RSUs granted to a Participant who may become eligible for Retirement at any time during the Vesting Period, payment for such RSUs, if any, that are vested as of such date as determined in accordance with Section 409A of the Code (less RSUs, if any, which became vested and were paid on an earlier date) shall be made on (or within thirty (30) days after) the earliest of the following dates that follows the date on which the RSUs become vested: (i) the last day of the Vesting Period; (ii) the date that the Participant experiences a "separation from service" within the meaning of Section 409A(a)(2)(A)(i) of the Code (including by reason of the Participant's Retirement or Disability); provided, however, that if the Participant is a "specified employee" as determined pursuant to procedures adopted by the Company in compliance with Section 409A of the Code, then payment for the RSUs shall be made on the earlier of the (A) first day of the seventh month after the date of the Participant's "separation from service" within the meaning of Section 409A(a)(2)(A)(i) of the Code; or (B) the Participant's death; (iii) the date of a Change in Control that constitutes a "change in ownership," a "change in effective control," or a "change in the ownership of a substantial portion of the assets" of the Company under Section 409A(a)(2)(A)(v) of the Code (such circumstances, a "409A Change in Control"); provided, that if a Change in Control occurs and it does not constitute a 409A Change in Control, payment for the RSUs shall not be made until the occurrence of the next event set forth in this Section 5(c); and (iv) the date of the Participant's death. (d) Except to the extent provided by Section 409A of the Code and permitted by the Board or the Committee, no shares of Common Stock may be issued to the Participant at a time earlier than otherwise expressly provided in this Agreement. 4 (e) The Company's obligations to the Participant with respect to the RSUs will be satisfied in full upon the issuance of shares of Common Stock corresponding to such RSUs. View More

Form and Time of Payment of RSUs. (a)Payment for the RSUs, after and to the extent they have become vested, shall be made in the form of one share of Common Stock for each vested RSU. Payment shall be made as soon as administratively practicable following (but no later than thirty (30) days following) the date that the RSUs become vested pursuant to Section 4 hereof. (b)[In all events, payment for the RSUs (to the extent vested) shall be made within the short-term deferral period for purposes of Section 409A of the Code.] (c)The... Company's obligations to the Participant with respect to the RSUs will be satisfied in full upon the issuance of shares of Common Stock corresponding to such RSUs. View More