Restricted Stock Unit Award Clause Example with 4 Variations from Business Contracts
This page contains Restricted Stock Unit Award clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Restricted Stock Unit Award. A Restricted Stock Unit Award may be granted to any Eligible Person selected by the Committee. The value of each stock unit under a Restricted Stock Unit Award is equal to the Fair Market Value of the Common Stock on the applicable date or time period of determination, as specified by the Committee. A Restricted Stock Unit Award shall be subject to such restrictions and conditions as the Committee shall determine. A Restricted Stock Unit Award may be granted together with a dividend equivalent r...ight with respect to the shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested in additional stock units, as determined by the Committee in its sole discretion. If any dividend equivalents are paid while a Restricted Stock Unit Award is subject to restrictions under Section 9 of the Plan, the Committee may, in its sole discretion, provide in the Award Agreement for such dividend equivalents to immediately be paid to the Participant holding such Restricted Stock Unit Award or pay such dividend equivalents subject to the same restrictions on transferability as the Restricted Stock Units to which they relate. 9.2 Vesting of Restricted Stock Unit Awards. On the Date of Grant, the Committee shall, in its discretion, determine any vesting requirements with respect to a Restricted Stock Unit Award, which shall be set forth in the Award Agreement. The requirements for vesting of a Restricted Stock Unit Award may be based on the Continuous Service of the Participant for a specified time period (or periods) or on the attainment of a specified performance goal (or goals) established by the Committee in its discretion. The Committee may, in its sole discretion, accelerate the vesting of a Restricted Stock Unit Award at any time. A Restricted Stock Unit Award may also be granted on a fully vested basis, with a deferred payment date as may be determined by the Committee or elected by the Participant in accordance with rules established by the Committee. 9.3 Payment of Restricted Stock Unit Awards. A Restricted Stock Unit Award shall become payable to a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit Award may be made, at the discretion of the Committee, in cash or in shares of Common Stock, or in a combination thereof as described in the Award Agreement, subject to applicable tax withholding requirements set forth in Section 16.5. Any cash payment of a Restricted Stock Unit Award shall be made based upon the Fair Market Value of the Common Stock, determined on such date or over such time period as determined by the Committee. Notwithstanding the foregoing, unless specified otherwise in the Award Agreement, any Restricted Stock Unit, whether settled in Common Stock or cash, shall be paid no later than two and one-half months after the later of the calendar year or fiscal year in which the Restricted Stock Units vest. If Restricted Stock Unit Awards are settled in shares of Common Stock, then as soon as practicable following the date of settlement, the Company shall deliver to the Participant evidence of book entry shares of Common Stock, or upon the Participant's request, Common Stock certificates in an appropriate amount.View More
Variations of a "Restricted Stock Unit Award" Clause from Business Contracts
Restricted Stock Unit Award. 8.1 Grant of Restricted Stock Unit Awards. A Restricted Stock Unit Award may be granted to any Eligible Person selected by the Committee. The value Committee may require the payment by the Participant of each stock unit under a specified purchase price in connection with any Restricted Stock Unit Award is equal to the Fair Market Value of the Common Stock on the applicable date or time period of determination, as specified by the Committee. A Restricted Stock Unit Award shall be subject to such ...restrictions and conditions as the Committee shall determine. Award. 8.2 Payment. A Restricted Stock Unit Award may be granted together with a dividend equivalent right with respect to settled by the delivery of shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested or units of Stapled Securities, or their cash equivalent, any combination thereof, or in additional stock units, any other form of consideration, as determined by the Committee and contained in its sole discretion. If any dividend equivalents are paid while the Award Agreement. 8.3 Vesting Requirements. The restrictions or conditions imposed on shares granted under a Restricted Stock Unit Award is subject to restrictions under Section 9 of shall lapse in accordance with the Plan, vesting requirements specified by the Committee may, in its sole discretion, provide in the Award Agreement for such dividend equivalents to immediately be paid to the Participant holding such Restricted Stock Unit Award or pay such dividend equivalents subject to the same restrictions on transferability as the Restricted Stock Units to which they relate. 9.2 Vesting of Restricted Stock Unit Awards. On the Date of Grant, the Committee shall, in its discretion, determine any vesting requirements with respect to a Restricted Stock Unit Award, which shall be set forth in the applicable Award Agreement. The requirements for vesting of a Restricted Stock Unit Award may be based on the Continuous continued Service of the Participant for a specified time period (or periods) or Participant, on the attainment of a specified performance goal (or goals) established goals or on such other terms and conditions as approved by the Committee in its discretion. The Committee may, in its sole discretion, accelerate the vesting of a Restricted Stock Unit Award at any time. A Restricted Stock Unit Award may also be granted on a fully vested basis, with a deferred payment date as may be determined by the Committee or elected by the Participant in accordance with rules established by the Committee. 9.3 Payment of Restricted Stock Unit Awards. A Restricted Stock Unit Award shall become payable to a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment and/or settlement of a Restricted Stock Unit Award may be made, at accelerated by, and may be dependent upon, in whole or in part, the discretion occurrence of a Qualified Liquidity Event. At the time of the grant of a Restricted Stock Unit Award, the Committee, in cash as it deems appropriate, may impose such restrictions or in shares of Common Stock, or in a combination thereof as described in conditions that delay the Award Agreement, subject to applicable tax withholding requirements set forth in Section 16.5. Any cash payment settlement of a Restricted Stock Unit Award shall be made based upon to a time after the Fair Market Value vesting of such Restricted Stock Unit Award, subject to Section 409A of the Code. 8.4 No Rights as Shareholder. Unless and until shares of Common Stock, Stock or units of Stapled Securities underlying a Restricted Stock Unit Award are actually delivered to the Participant upon settlement of the Restricted Stock Unit Award, the Participant shall have no rights of a shareholder or unitholder, as the case may be, with respect to the shares or units granted to the Participant under a Restricted Stock Unit Award, including but not limited to the right to vote the shares or receive dividends or other distributions or amounts accrued, paid or made with respect thereto. 8.5 Dividend Equivalents. Dividend equivalents may be credited in respect of shares of Common Stock or units of Stapled Securities covered by a Restricted Stock Unit Award, as determined on by the Committee and contained in the applicable Award Agreement. At the sole discretion of the Committee, such date dividend equivalents may be converted into additional shares of Common Stock or over units of Stapled Securities covered by the Restricted Stock Unit Award in such time period manner as determined by the Committee. Notwithstanding the foregoing, unless specified otherwise in the Award Agreement, Any such dividend equivalents (including but not limited to any Restricted Stock Unit, whether settled in Common Stock additional shares or cash, shall be paid no later than two and one-half months after the later of the calendar year or fiscal year in which units covered by the Restricted Stock Units vest. If Restricted Stock Unit Awards are settled in shares Award credited by reason of Common Stock, then as soon as practicable following such dividend equivalents) will be subject to all of the date same terms and conditions of settlement, the Company shall deliver underlying Award Agreement to which they relate, including, without limitation, with respect to the Participant evidence of book entry shares of Common Stock, or upon the Participant's request, Common Stock certificates in an appropriate amount. vesting and settlement thereof. View More
Restricted Stock Unit Award. 8.1 Grant of Restricted Stock Unit Awards. A Restricted Stock Unit Award may be granted to any Eligible Person selected by the Committee. The value Committee may require the payment by the Participant of each stock unit under a specified purchase price in connection with any Restricted Stock Unit Award is equal to the Fair Market Value of the Common Stock on the applicable date or time period of determination, as specified by the Committee. A Restricted Stock Unit Award shall be subject to such ...restrictions and conditions as the Committee shall determine. Award. 8.2 Payment. A Restricted Stock Unit Award may be granted together with a dividend equivalent right with respect to settled by the delivery of shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested or their cash equivalent, any combination thereof, or in additional stock units, any other form of consideration, as determined by the Committee and contained in its sole discretion. If any dividend equivalents are paid while the Award Agreement. 8.3 Vesting Requirements. The restrictions or conditions imposed on shares granted under a Restricted Stock Unit Award is subject to restrictions under Section 9 of shall lapse in accordance with the Plan, vesting requirements specified by the Committee may, in its sole discretion, provide in the Award Agreement for such dividend equivalents to immediately be paid to the Participant holding such Restricted Stock Unit Award or pay such dividend equivalents subject to the same restrictions on transferability as the Restricted Stock Units to which they relate. 9.2 Vesting of Restricted Stock Unit Awards. On the Date of Grant, the Committee shall, in its discretion, determine any vesting requirements with respect to a Restricted Stock Unit Award, which shall be set forth in the applicable Award Agreement. The requirements for vesting of a Restricted Stock Unit Award may be based on the Continuous continued Service of the Participant for a specified time period (or periods) or Participant, on the attainment of a specified performance goal (or goals) established goals or on such other terms and conditions as approved by the Committee in its discretion. The Committee may, in its sole discretion, accelerate the vesting of a Restricted Stock Unit Award at any time. A Restricted Stock Unit Award may also be granted on a fully vested basis, with a deferred payment date as may be determined by the Committee or elected by the Participant in accordance with rules established by the Committee. 9.3 Payment of Restricted Stock Unit Awards. A Restricted Stock Unit Award shall become payable to a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment and/or settlement of a Restricted Stock Unit Award may be made, at accelerated by, and may be dependent upon, in whole or in part, the discretion occurrence of a Qualified Liquidity Event. At the time of the grant of a Restricted Stock Unit Award, the Committee, in cash as it deems appropriate, may impose such restrictions or in shares of Common Stock, or in a combination thereof as described in conditions that delay the Award Agreement, subject to applicable tax withholding requirements set forth in Section 16.5. Any cash payment settlement of a Restricted Stock Unit Award shall be made based upon to a time after the Fair Market Value vesting of such Restricted Stock Unit Award, subject to Section 409A of the Code. 8.4 No Rights as Shareholder. Unless and until shares of Common Stock, Stock underlying a Restricted Stock Unit Award are actually delivered to the Participant upon settlement of the Restricted Stock Unit Award, the Participant shall have no rights of a shareholder with respect to the shares granted to the Participant under a Restricted Stock Unit Award, including but not limited to the right to vote the shares or receive dividends or other distributions or amounts accrued, paid or made with respect thereto. 8.5 Dividend Equivalents. Dividend equivalents may be credited in respect of shares of Common Stock covered by a Restricted Stock Unit Award, as determined on by the Committee and contained in the applicable Award Agreement. At the sole discretion of the Committee, such date or over dividend equivalents may be converted into additional shares of Common Stock covered by the Restricted Stock Unit Award in such time period manner as determined by the Committee. Notwithstanding the foregoing, unless specified otherwise in the Award Agreement, Any such dividend equivalents (including but not limited to any Restricted Stock Unit, whether settled in Common Stock or cash, shall be paid no later than two and one-half months after the later of the calendar year or fiscal year in which additional shares covered by the Restricted Stock Units vest. If Restricted Stock Unit Awards are settled in shares Award credited by reason of Common Stock, then as soon as practicable following such dividend equivalents) will be subject to all of the date same terms and conditions of settlement, the Company shall deliver underlying Award Agreement to which they relate, including, without limitation, with respect to the Participant evidence of book entry shares of Common Stock, or upon the Participant's request, Common Stock certificates in an appropriate amount. vesting and settlement thereof. View More
Restricted Stock Unit Award. 9.1 Grant of Restricted Stock Unit Awards. A Restricted Stock Unit Award may be granted to any Eligible Person selected by the Committee. The value of each stock unit under a Restricted Stock Unit Award is will be equal to the Fair Market Value of the Common Stock on the applicable date or time period of determination, as specified by the Committee. A Restricted Stock Unit Award shall be subject to such restrictions and conditions as the Committee shall determine. A Restricted Stock Unit Award m...ay be granted together with a dividend equivalent right with respect to the shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested in additional stock units, as determined by the Committee in its sole discretion. If any dividend equivalents are paid while a Restricted Stock Unit Award is subject to restrictions under Section 9 of the Plan, the Committee may, in its sole discretion, provide in the Award Agreement for such dividend equivalents to immediately be paid to the Participant holding such Restricted Stock Unit Award or pay such dividend equivalents subject to the same restrictions on transferability as the Restricted Stock Units to which they relate. 9.2 Vesting of Restricted Stock Unit Awards. Requirements. On the Date of Grant, the Committee shall, shall in its discretion, discretion determine any vesting requirements with respect to a Restricted Stock Unit Award, which shall be set forth in the Award Agreement. The requirements for Agreement, provided that the Committee may accelerate the vesting of a Restricted Stock Unit Award at any time. Such vesting requirements may be based on the Continuous continued Service of the Participant with the Company or its Subsidiaries for a specified time period (or periods) or on the attainment of a specified performance goal (or goals) goals established by the Committee in its discretion. The Notwithstanding the foregoing, the Committee may, in its sole discretion, may accelerate the vesting of a Restricted Stock Unit Award at any time. A Restricted Stock Unit Award may also be granted on a fully vested basis, with a deferred payment date as may be determined by the Committee or elected by the Participant in accordance with rules established by the Committee. date. 9 9.3 Payment of Restricted Stock Unit Awards. A Restricted Stock Unit Award shall become payable to a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit Award may be made, at the discretion of the Committee, in cash or in shares of Common Stock, or in a combination thereof as described in the Award Agreement, subject to applicable tax withholding requirements set forth in Section 16.5. thereof. Any cash payment of a Restricted Stock Unit Award shall be made based upon the Fair Market Value of the Common Stock, determined on such date or over such time period as determined by the Committee. Notwithstanding 9.4 No Rights as Shareholder. The Participant shall not have any rights as a shareholder with respect to the foregoing, unless specified otherwise in the Award Agreement, any Restricted Stock Unit, whether settled in Common Stock or cash, shall be paid no later than two and one-half months after the later of the calendar year or fiscal year in which the Restricted Stock Units vest. If shares subject to a Restricted Stock Unit Awards are settled in Award until such time as shares of Common Stock, then as soon as practicable following the date of settlement, the Company shall deliver Stock are delivered to the Participant evidence pursuant to the terms of book entry shares of Common Stock, or upon the Participant's request, Common Stock certificates in an appropriate amount. Award Agreement. View More
Restricted Stock Unit Award. 9.1 Grant of Restricted Stock Unit Awards. A Restricted Stock Unit Award may be granted to any Eligible Person selected by the Committee. The value of each stock unit under a Restricted Stock Unit Award is will be equal to the Fair Market Value of the Common Stock on the applicable date or time period of determination, as specified by the Committee. A Restricted Stock Unit Award shall be subject to such restrictions and conditions as the Committee shall determine. A Restricted Stock Unit Award m...ay be granted together with a dividend equivalent right with respect to the shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested in additional stock units, as determined by the Committee in its sole discretion. If any dividend equivalents are paid while a Restricted Stock Unit Award is subject to restrictions under Section 9 of the Plan, the Committee may, in its sole discretion, provide in the Award Agreement for such dividend equivalents to immediately be paid to the Participant holding such Restricted Stock Unit Award or pay such dividend equivalents subject to the same restrictions on transferability as the Restricted Stock Units to which they relate. 10 9.2 Vesting of Restricted Stock Unit Awards. Requirements. On the Date of Grant, the Committee shall, shall in its discretion, discretion determine any vesting requirements with respect to a Restricted Stock Unit Award, which shall be set forth in the Award Agreement. The requirements for Agreement, provided that the Committee may accelerate the vesting of a Restricted Stock Unit Award at any time. Such vesting requirements may be based on the Continuous continued Service of the Participant with the Company or its Subsidiaries for a specified time period (or periods) or on the attainment of a specified performance goal (or goals) goals established by the Committee in its discretion. The Notwithstanding the foregoing, the Committee may, in its sole discretion, may accelerate the vesting of a Restricted Stock Unit Award at any time. A Restricted Stock Unit Award may also be granted on a fully vested basis, with a deferred payment date as may be determined by the Committee or elected by the Participant in accordance with rules established by the Committee. date. 9.3 Payment of Restricted Stock Unit Awards. A Restricted Stock Unit Award shall become payable to a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit Award may be made, at the discretion of the Committee, in cash or in shares of Common Stock, or in a combination thereof as described in the Award Agreement, subject to applicable tax withholding requirements set forth in Section 16.5. thereof. Any cash payment of a Restricted Stock Unit Award shall be made based upon the Fair Market Value of the Common Stock, determined on such date or over such time period as determined by the Committee. Notwithstanding 9.4 No Rights as Shareholder. The Participant shall not have any rights as a shareholder with respect to the foregoing, unless specified otherwise in the Award Agreement, any Restricted Stock Unit, whether settled in Common Stock or cash, shall be paid no later than two and one-half months after the later of the calendar year or fiscal year in which the Restricted Stock Units vest. If shares subject to a Restricted Stock Unit Awards are settled in Award until such time as shares of Common Stock, then as soon as practicable following the date of settlement, the Company shall deliver Stock are delivered to the Participant evidence pursuant to the terms of book entry shares of Common Stock, or upon the Participant's request, Common Stock certificates in an appropriate amount. Award Agreement. View More
