Settlement of Restricted Stock Units Clause Example with 19 Variations from Business Contracts
This page contains Settlement of Restricted Stock Units 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.
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but in no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock del...ivered to the Grantee. 6.2 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.View More
Variations of a "Settlement of Restricted Stock Units" Clause from Business Contracts
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock that have vested pursuant to the terms of this Agreement and cash equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Com...pany as the shareholder of record any Dividend Equivalents credited with respect to such vested units and the interest thereon or, at the discretion of the Board, shares of Common Stock delivered having a Fair Market Value equal to such Dividend Equivalents and the Grantee. 6.2 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause. interest thereon. View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock that have vested pursuant to the terms of this Agreement and cash equal to any Dividend Equivalents credited with respect to such vested units and the number i...nterest thereon or, at the discretion of Vested Units; the Board, shares of Common Stock having a Fair Market Value equal to such Dividend Equivalents and the interest thereon; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee. 6.2 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Company as the shareholder stockholder of record with respect to the ...shares of Common Stock delivered to the Grantee. 2 6.2 If To the extent that the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained does not vest in any position, as an employee, consultant or director of the Company. Further, nothing Restricted Stock Units, all interest in the Plan or this Agreement such Restricted Stock Units shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at forfeited. The Grantee has no right or interest in any time, with or without Cause. Restricted Stock Units that are forfeited. View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 13 hereof, promptly as soon as administratively practical following the each vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting date occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Company as the sha...reholder of record with respect to the shares of Common Stock delivered to the Grantee. 6.2 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but date and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, 30 days thereafter, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with re...spect to the shares of Common Stock delivered to the Grantee. 6.2 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Co...mmon Stock delivered to the Grantee. 6.2 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following on or after January 1, 2026, the vesting date, and, if requested by the Grantee, at a later time but in no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, Grantee may elect to require the Company shall to (a) issue and deliver to the Grantee up to fifty-percent (50%) of the number of shares of Common Stock underlying the Restricted Stock Units granted hereunder and cash equal to any Divid...end Equivalents credited with respect to such Vested Units, at the number discretion of Vested Units; the Committee, shares of Common Stock having a Fair Market Value equal to such Dividend Equivalents; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee. 6.2 Subject to Section 9 hereof, on or after January 1, 2027, the Grantee may elect to require the Company to (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of all remaining Common Stock underlying the Restricted Stock Units granted hereunder not previously delivered pursuant to Section 6.1 above and cash equal to any Dividend Equivalents credited with respect to such Vested Units, at the discretion of the Committee, shares of Common Stock having a Fair Market Value equal to such Dividend Equivalents; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee. 6.3 If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, Committee, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither 6.4 To the Plan nor this Agreement shall confer upon extent that the Grantee any right to be retained does not vest in any position, as an employee, consultant or director of the Company. Further, nothing Restricted Stock Units, all interest in the Plan or this Agreement such Restricted Stock Units and any related Dividend Equivalents shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at forfeited. The Grantee has no right or interest in any time, with or without Cause. Restricted Stock Units that are forfeited. View More
Settlement of Restricted Stock Units. 6.1 Subject to the tax withholding provisions of Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but in no event later than March 15 of the calendar year following Plan, if the calendar year in which such vesting occurs, Grantee's employment Terminates on or after the Grantee has attained age 55 and 10 years of service or attained a combined age and years of service totaling 65 (as determined under the Arrow Financial Corporation Employees... Pension Plan and Trust, or successor plan), the Company shall (a) (i) issue and deliver to the Grantee (A) the number of shares of Common Stock equal to the number of Vested Units; Units, and (B) cash equal to any Dividend Equivalents credited with respect to such Vested Units in ten (10) substantially equal annual installments commencing on the first anniversary of the date of Retirement; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee. 6.2 Notwithstanding Section 6.1 and subject to the tax withholding provisions of Section 15 of the Plan, if the Grantee's employment Terminates as a result of death or Disability, or if a Change of Control occurs and the Grantee's employment is Terminated by the Company without cause or by the Grantee for good reason (as the terms "cause" and "good reason" are defined in Grantees' employment agreement) within twelve (12) months following the Change of Control, the Company shall (i) issue and deliver to the Grantee (or his beneficiary, if applicable) (A) the number of shares of Stock equal to the number of Vested Units and (B) cash equal to any Dividend Equivalents credited with respect to such Vested Units within thirty (30) business days of such Termination of employment; and (b) enter the Grantee's (or beneficiary's) name on the books of the Company as the shareholder of record with respect to the shares of Stock delivered to the Grantee. If the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, Committee, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant Employee, Consultant or director Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service employment at any time, with or without Cause. 8. Adjustments. If any change is made to the outstanding Stock or the capital structure of the Company, if required, the Restricted Stock Units shall be adjusted or terminated in any manner as contemplated by Section 13 of the Plan. 9. Compliance with Law. The issuance and transfer of shares of Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Stock may be listed. No shares of Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee's name on the books of the Company as the shareholder stockholder of record with respect to the ...shares of Common Stock delivered to the Grantee. 6.2 If To the extent that the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board does not vest in any Restricted Stock Units, all interest in such Restricted Stock Units shall be forfeited. The Grantee has no right or a committee appointed by the Board, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent interest in any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date Restricted Stock Units that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 are forfeited. 2 7. No Right to Continued Service. Neither the Plan nor this This Agreement shall not confer upon the Grantee any right to be retained in any position, as an employee, consultant Employee, Consultant or director Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause. View More
Settlement of Restricted Stock Units. 6.1 Subject to Section 9 hereof, promptly following the vesting date, and, if requested by the Grantee, at a later time but and in any event no event later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; Units and cash equal to any Dividend Equivalents credited with respect to such Vested Units or, at the discretion of the C...ommittee, shares of Common Stock having a Fair Market Value equal to such Dividend Equivalents; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee. 6.2 If Notwithstanding Section 6.1, to the extent the Company reasonable anticipates that the Company's corporate income tax deduction for the payment of shares under this Agreement as a result of the application of Code Section 162(m), will be limited or eliminated, the Company shall defer the payment and delivery of such shares to Participant to the earliest date where the Company reasonably anticipates that such deduction will not be limited or eliminated by application of Code Section 162(m). 6.3 Notwithstanding Section 6.1, if the Grantee is deemed a "specified employee" within the meaning of Section 409A of the Code, as determined by the Board or a committee appointed by the Board, Committee, at a time when the Grantee becomes eligible for settlement of the RSUs upon his "separation from service" within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee's separation from service and (b) the Grantee's death. 11 7. No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an employee, consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.View More
