If a Director elects to direct deferred amounts of Cash Compensation into the Deferred Stock Account, then, on the applicable Compensation Payment Date, the Director’s Deferred Stock Account shall be credited with a number of Deferred Stock Units equal to # the amount deferred into the Deferred Stock Account, divided by # the Market Value on the Compensation Payment Date, and rounded to the nearest ten-thousandth; provided, however, that the Board may adopt another valuation method so long as such method is communicated in writing to Participants prior to the commencement of the Plan Period during which such valuation method will apply.
If a Director elects to direct deferred amounts of Cash Compensation into the DeferredPhantom Stock Investment Account, then, on the applicable Compensation Payment Date, the Director’s DeferredPhantom Stock Investment Account shall be credited with a number of DeferredPhantom Stock Units equal to # the amount deferred into the DeferredPhantom Stock Investment Account, divided by # the Market Value on the Compensation Payment Date,such date, and rounded to the nearest ten-thousandth; provided, however, that the Board may adopt another valuation method so long as such method is communicated in writing to Participants prior to the commencement of the Plan Period during which such valuation method will apply.thousandth.
IfAs of each date on which any amount of a Director elects to direct deferred amounts ofDirector’s Deferred Cash Compensation into the Deferredbecomes payable, his or her Stock Account, then, on the applicable Compensation Payment Date, the Director’s Deferred StockUnit Account shall be credited with athat number of Deferred Stock Unitsunits as are equal to # the amount deferred intonumber of full or fractional Shares as could be purchased at the Deferred Stock Account, divided by # theFair Market Value on the Compensation Payment Date, and rounded tofirst trading day preceding such date with the nearest ten-thousandth; provided, however, that the Board may adopt another valuation method so longportion of such Deferred Cash Compensation as such method is communicated in writingDirector has elected be credited to Participants prior to the commencement of the Plan Period during which such valuation method will apply.his or her Stock Unit Account.
If a Director elects to direct deferred amountsIn the case of Cash Compensation into the Deferred Stock Account, then, on the applicable Compensation Payment Date, the Director’s Deferred Stock Account shall be credited withdividends payable in cash or property other than cash or Common Stock, a number of Deferred Stock Units equal to # the amount deferred intocash or fair market value of any dividends declared and made with respect to the Common Stock payable in cash or other property which the Director would have received had the Director been the owner on the record dates for the payment of such dividends of the number of shares of Common Stock equal to the number of Deferred Stock Account,Units in the Director’s Deferred Stock Account on such dates, divided by # the Market Value on the Compensation Payment Date, anddividend payment date, rounded to the nearest ten-thousandth; provided, however, that the Board may adopt another valuation method so long as such method is communicated in writing to Participants prior to the commencement of the Plan Period during which such valuation method will apply.apply; or
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