Example ContractsClausesForm and Timing of Settlement
Form and Timing of Settlement
Form and Timing of Settlement contract clause examples

. Except as otherwise provided in this Section 2(c), vested Performance-Based Restricted Stock Units shall be settled as soon as practicable, but in no event later than thirty days, after the date for settlement specified in Section 2(a)(i) or 2(a)(ii), as applicable. In the event that the Company determines, pursuant to Section 6, to satisfy any withholding tax obligations arising upon the settlement of vested Performance-Based Restricted Stock Units by withholding shares of Common Stock otherwise issuable upon settlement, or by deducting such taxes from the proceeds of the sale of shares of Common Stock issued upon settlement, and the date specified for settlement in Section 2(a)(i) or 2(a)(ii), as applicable, does not fall within a trading “window period” permitted under the Company’s insider trading policy, then settlement shall be delayed until the first trading date of the first “window period” beginning after such specified settlement date. In no event, however, shall settlement occur later than March 15th of the calendar year following the calendar year in which vesting occurred.

Form of Settlement. The Committee may, in its sole discretion, provide that the Shares to be issued upon exercise of an Option shall be in the form of Restricted Stock or other similar securities.

Form of Settlement. The Administrator reserves the right in its sole discretion to provide (either at or after the grant thereof) that any Restricted Stock Unit represents the right to receive the amount of cash per unit that is determined by the Administrator in connection with the Award.

Form of Settlement. Vested Performance Units will be settled in a single lump sum distribution of shares of Common Stock. Prior to the date of issuance of shares of Common Stock, the Employee shall have no rights with respect to the shares of Common Stock, including but not limited to rights to sell, vote, exchange, transfer, pledge, hypothecate or otherwise dispose of the shares of Common Stock. In addition, prior to the issuance of shares of Common Stock, the Employee shall not be entitled to receive dividends and shall not have any other rights with respect to the shares of Common Stock.

Form of Settlement. In full satisfaction of the RSUs granted hereby, the Company will pay you the amount owed in cash, subject to applicable withholding.

PAYOUT FORM AND TIMING. Annual Incentive Awards will be paid in a lump sum in cash as soon as administratively practicable after the Committee or the CEO (in the case of Participants that are not [Section 16] Officers) determines whether and to what extent Performance Objectives were achieved, but in any event during the calendar year following the end of the Plan Year for which the Annual Incentive Awards, if any, were earned; provided that any Annual Incentive Award which is properly deferred by a Participant under a deferred compensation plan or arrangement adopted or approved by the Company shall be paid pursuant to the terms and conditions of such deferral.

Timing and Form of Payment. After the bonus amount for a quarter is certified by the Committee or the President, as applicable, the bonus shall be paid in cash in a single lump sum within 45 days after the last day of the quarter, provided that the payment (if any) for the fourth quarter shall occur on or after January 1, 2023 and on or before March 15, 2023. Bonus payments are intended to qualify as short-term deferrals under section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and shall be paid not later than the latest specified payment date (March 15, 2023). The Company shall have the authority to delay the payment of any bonus under the Program to the extent it deems necessary or appropriate to comply with Code section 409A(a)(2)(B)(i).

Amounts contained in a participating Director’s Deferred Compensation Account will, subject to [Section 4.5] below, be distributed in a lump sum within 45 days following the applicable Payment Event (in any case, such payment date, the “Payment Date”), in accordance with the terms and conditions set forth herein. Notwithstanding anything to the contrary contained herein, the exact Payment Date shall be determined by the Company in its sole discretion (and the participating Director shall not have the right to designate the time of payment).

Form and Timing of Payment. The Company will pay you any lump sum amounts as provided for in this Section 4 on the thirtieth (30th) day following your termination of employment, provided that prior to such date the release described above is effective at such time.

Timing. Vested RSUs shall be converted to Shares and shall be issued within 90 days following the earliest to occur of # each anniversary of the Grant Date, # the [[Team Member:Person]]’s “separation from service” as such term is defined for purposes of Code Section 409A, # the [[Team Member:Person]]’s death, or # the [[Team Member:Person]]’s Disability (as determined by the Committee in its sole discretion, provided such determination complies with the definition of disability under Code Section 409A).

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