Settlement Clause Example with 7 Variations from Business Contracts
This page contains Settlement 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. (a)Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the earliest date to occur of: (i) your Termination; (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant Date (the "Settlement Date"). Your whole RSUs shall be... settled in full Shares, and any fractional RSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. (b)Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs unless and until you become the record holder of such Shares. (c)If there is a Change in Control, your RSUs, including any RSUs credited pursuant to Section 5, may vest in accordance with the Plan. See the Plan for further details. (d)Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If a cash dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the quotient of: (i)The product of (I) the number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by (ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the product of: (i)The number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share.View More
Variations of a "Settlement" Clause from Business Contracts
Settlement. (a)Subject (a) Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement deferral election under subsection (d) below, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days practicable following the earliest date to occur of: (i) your Termination; (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant each Vesting Date (th...e (each a "Settlement Date"). Your whole RSUs shall be settled in full Shares, and any fractional RSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the applicable Settlement Date. (b)Except Date, which shall be equal to the closing price of a Share on the applicable Settlement date if it is a trading day or, if such date is not a trading day, on the next preceding trading day..(b) Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs unless and until you become the record holder of such Shares. (c)If (c) If there is a Change in Control, your RSUs, including any RSUs credited pursuant to Section 5, may vest and settle in accordance with the Plan. See the Plan for further details. (d)Notwithstanding (d) Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before defer the third anniversary settlement of the Grant Date, your vested RSUs, RSUs (a "Deferred Settlement Election"), including any RSUs credited pursuant to Section 5, shall to the date specified in such Deferred Settlement Election form, which date must be settled in after January 31, 2026. If applicable, a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary copy of the Grant Date. signed Deferred Settlement Election form must be attached to this Agreement as Exhibit A. For such an election a Deferred Settlement Election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. 31, 2022. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If a cash dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the quotient of: (i)The product of (I) the number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by (ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the product of: (i)The number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share.View More
Settlement. (a)Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the earliest date to occur of: (i) your Termination; or (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant Date January 31, 2017 (the "Settlement D...ate"). Your whole RSUs DSUs shall be settled in full Shares, and any fractional RSU DSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. (b)Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs DSUs unless and until you become the record holder of such Shares. (c)If (c) Normally, your DSUs will vest and be settled only under the circumstances described above. However, if there is a Change in Control, your RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, may vest will become 100% vested on the date of the Change in accordance with Control and will be settled as described in the Plan. See the Plan for further details. (d)Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. details.5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If equivalent:(a)If a cash dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the quotient of: (i)The of:(i)The product of (I) the number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by (ii)The by(ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the product of: (i)The of:(i)The number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs DSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs DSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs DSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share. View More
Settlement. (a)Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 [Number] days following the earliest date to occur of: (i) your Termination; or (ii) your death, (iii) your Disability, or (iv) the third [Number] anniversary of the Grant Date (the "Settlement ...Date"). Your whole RSUs DSUs shall be settled in full Shares, and any fractional RSU DSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. (b)Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs DSUs unless and until you become the record holder of such Shares. (c)If (c) Normally, your DSUs will vest and be settled only under the circumstances described above. However, if there is a Change in Control, your RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, may vest will become 100% vested on the date of the Change in accordance with Control and will be settled as described in the Plan. See the Plan for further details. (d)Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If equivalent:(a)If a cash dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the quotient of: (i)The of:(i)The product of (I) the number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by (ii)The by(ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the product of: (i)The of:(i)The number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs DSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs DSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs DSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share. View More
Settlement. (a)Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the earliest date to occur of: (i) your Termination; or (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant Date (the "Settlement Date"). Your whole...RSUs DSUs shall be settled in full Shares, and any fractional RSU DSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. (b)Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs DSUs unless and until you become the record holder of such Shares. (c)If (c) Normally, your DSUs will vest and be settled only under the circumstances described above. However, if there is a Change in Control, your RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, may vest will become 100% vested on the date of the Change in accordance with Control and will be settled as described in the Plan. See the Plan for further details. (d)Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. details.5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If equivalent:(a)If a cash dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the quotient of: (i)The of:(i)The product of (I) the number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by 2 (ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the product of: (i)The of:(i)The number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs DSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs DSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs DSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share. View More
Settlement. (a)Subject (a) Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the earliest date to occur of: (i) your Termination; (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant Date (the "Settlement Date"). Your whole R...SUs shall be settled in full Shares, and any fractional RSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. (b)Except Date, which shall be equal to the closing price of a Share on the Settlement date if it is a trading day or, if such date is not a trading day, on the next preceding trading day..(b) Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs unless and until you become the record holder of such Shares. (c)If (c) If there is a Change in Control, your RSUs, including any RSUs credited pursuant to Section 5, may vest in accordance with the Plan. See the Plan for further details. (d)Notwithstanding (d) Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. If applicable, a copy of the signed election must be attached to this Agreement as Exhibit A. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If a cash dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the quotient of: (i)The product of (I) the number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by (ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the product of: (i)The number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share.View More
Settlement. (a)Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the earliest date to occur of: (i) your Termination; or (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant Date (the "Settlement Date"). Your whole...RSUs DSUs shall be settled in full Shares, and any fractional RSU DSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. (b)Except as provided in Section 5 below, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs DSUs unless and until you become the record holder of such Shares. (c)If there is a Change in Control, your RSUs, DSUs, including any RSUs DSUs credited pursuant to Section 5, may vest in accordance with the Plan. See the Plan for further details. (d)Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. details.5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If equivalent:(a)If a cash dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the quotient of: (i)The of:(i)The product of (I) the number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by 2 (ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, DSUs, you will be credited with an additional number of RSUs DSUs equal to the product of: (i)The of:(i)The number of RSUs DSUs granted under this Award Agreement (including additional RSUs DSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs DSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs DSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs DSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share. View More
Settlement. (a)Subject to the terms of the Plan and this Award Agreement, unless you have made a settlement election under subsection (d) below, your vested RSUs, including any RSUs credited pursuant to Section 5, and related dividend equivalents, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the earliest date to occur of: (i) your Termination; (ii) your death, (iii) your Disability, or (iv) the third anniversary of the Grant Vesting Date (the "S...ettlement Date"). Your whole RSUs shall be settled in full Shares, and any fractional RSU shall be settled in cash, determined based upon the Fair Market Value of a Share on the Settlement Date. Date equal to the closing price of a Share on the Settlement date if it is a trading day or, if such date is not a trading day, on the next preceding trading day. 2 (b)Except as provided in Section 5 below, of this Award Agreement, you will have none of the rights of a shareholder with respect to Shares underlying the RSUs unless and until you become the record holder of such Shares. (c)If (c)Normally, your RSUs will vest and be settled only under the circumstances described above. However, if there is a Change in Control, your RSUs, including any RSUs credited pursuant to Section 5, may vest will become 100% vested on the date of the Change in accordance with Control and will be settled as described in the Plan. See the Plan for further details. (d)Notwithstanding subsection (a) above, subject to the terms of the Plan and this Award Agreement, you may make an election to provide that if your Termination occurs before the third anniversary of the Grant Date, your vested RSUs, including any RSUs credited pursuant to Section 5, shall be settled in a lump sum as soon as administratively practicable, but no later than 90 days following the third anniversary of the Grant Date. For such an election to be effective, you must have completed such an election on a form provided by the Company no later than December 31st of the year before the year in which the Grant Date occurred. If you do not complete the election form within such time period provided in the form, you will receive your vested RSUs as provided in subsection (a) above. 2 5. details.5. DIVIDEND EQUIVALENTS. With respect to each dividend equivalent: (a)If equivalent:(a)If a cash dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the quotient of: (i)The of:(i)The product of (I) the number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (II) the amount of the cash dividend paid per Share; divided by (ii)The by(ii)The Fair Market Value (which shall be equal to the closing price) of a Share on the date such cash dividend is paid. (b)If a Share dividend is declared and paid on the Shares underlying the RSUs, you will be credited with an additional number of RSUs equal to the product of: (i)The of:(i)The number of RSUs granted under this Award Agreement (including additional RSUs previously credited in accordance with this Section 5) that have not been settled as of the dividend payment date, multiplied by (ii)The number of Shares paid as a dividend per Share. (c)Any additional RSUs credited pursuant to this Section 5 shall be subject to the same terms and conditions as the RSUs DSUs granted pursuant to Section 1 above. (d)Any fractional number of RSUs resulting from the calculations under this Section 5 shall be rounded to the nearest whole Share. View More
