Fractional Shares Clause Example from Business Contracts

This example Fractional Shares clause appears in 2 contracts from 1 company

Fractional Shares. In lieu of issuing a fraction of a share, resulting from an adjustment of the Performance Based Restricted Stock Award pursuant to paragraph 5.2(f) of the Plan or otherwise, the Company will be entitled to pay to the Participant an amount equal to the fair market value of such fractional share.
Found in Chubb Limited contract
Chubb Limited Contracts

Form of Performance Based Restricted Stock Award Terms under the Chubb Limited 2016 Long-Term Incentive Plan for Executive Officers (Filed With SEC on April 29, 2020)

Form of Performance Based Restricted Stock Award Terms under the Chubb Limited 2016 Long-Term Incentive Plan for Swiss Executive Management (Filed With SEC on April 29, 2020)