Example ContractsClausesSettlement of Awards
Settlement of Awards
Settlement of Awards contract clause examples

Settlement of Awards. Upon each vesting of Awards in accordance with [Section 1], one share of Company Common Stock shall be issued for each Award that vests on such date (the “Shares”), subject to the terms of the Plan and this document. The Company will subtract from the vested Shares the whole number of Shares necessary to satisfy any required tax withholding obligations as described in [Section 9], and transfer the balance of the vested Shares to you (known as “settlement”). No fractional Shares shall be issued under the Grant. The delivery of vested Shares shall occur as soon as practicable after the vesting date specified in [Section 1], but in all events by a date which is within 30 days following such date, subject to [Section 3].

Settlement of Awards. Upon vesting of Awards in accordance with [Section 1], one share of Company Common Stock shall be issued for each earned Award that vests on such date (the “Shares”), subject to the terms of the Plan and this document. The Company will subtract from the vested Shares the whole number of Shares necessary to satisfy any required tax withholding obligations as described in [Section 9] and transfer the balance of the vested Shares to you (known as “settlement”). No fractional Shares shall be issued under the Grant. The delivery of vested Shares shall occur as soon as practicable after the vesting date specified in [Section 1], but in all events by a date which is within 30 days following such date, subject to [Section 3].

Settlement of Awards. Upon each vesting of Awards in accordance with [Section 1], one share of Company Common Stock shall be issued for each Award that vests on such date (the “Shares”), subject to the terms of the Plan and this document. The Company will subtract from the vested Shares the whole number of Shares necessary to satisfy any required tax withholding obligations as described in [Section 9] and transfer the balance of the vested Shares to you (known as “settlement”). No fractional Shares shall be issued under the Grant. The delivery of vested Shares shall occur as soon as practicable after the vesting date specified in [Section 1], but in all events by a date which is within 30 days following such date, subject to [Section 3].

Settlement of Awards. Upon vesting of Awards in accordance with [Section 1], one share of Company Common Stock shall be issued for each earned Award that vests on such date (the “Shares”), subject to the terms of the Plan and this document. The Company will subtract from the vested Shares the whole number of Shares necessary to satisfy any required tax withholding obligations as described in [Section 9] and transfer the balance of the vested

Notwithstanding anything to the contrary in the Plan, the settlement of 102 Awards shall be in Common Stock only.

Settlement of Restricted Stock Unit Awards. A Restricted Stock Unit Award is a right to receive a specified number of shares of Common Stock or cash equal to the Fair Market Value of a specified number of shares of Common Stock issued or paid at the end of a vesting period or the last day of a specified deferral period.

Settlement of RSU Awards. An RSU Award may be settled by the issuance of shares of Common Stock or cash (or any combination thereof) or in any other form of payment, as determined by the Board and specified in the RSU Award Agreement. At the time of grant, the Board may determine to impose such restrictions or conditions that delay such delivery to a date following the vesting of the RSU Award.

Settlement of Awards. The Corporation shall deliver to the Employee one or more Shares for each earned Performance Share (and, as applicable, for the accrued dividend equivalents) as determined in accordance with the provisions set forth in the Addendum and this Agreement. Any earned Performance Shares payable to the Employee (including Shares payable pursuant to Section 5) shall be paid solely in Shares. Any fractional Share will be rounded to the closest whole Share.

Settlement of Vested Performance Awards. The Agreement relating to a Performance Award shall specify whether such award may be settled in shares of Common Stock (including shares of Restricted Stock) or cash or a combination thereof. If a Performance Award is settled in shares of Restricted Stock, such shares of Restricted Stock shall be issued to the holder in book entry form or a certificate or certificates representing such Restricted Stock shall be issued in accordance with Section 3.2(c) and the holder of such Restricted Stock shall have such rights as a stockholder of the Corporation as determined pursuant to Section 3.2(d). Any dividends or dividend equivalents with respect to a Performance Award shall be subject to the same restrictions as such Performance Award. Prior to the settlement of a Performance Award in shares of Common Stock, including Restricted Stock, the holder of such award shall have no rights as a stockholder of the Corporation.

Settlement of RSU Awards. A RSU Award may be settled by the issuance of shares of Common Stock or cash (or any combination thereof) or in any other form of payment, as determined by the Board and specified in the RSU Award Agreement. At the time of grant, the Board may determine to impose such restrictions or conditions that delay such delivery to a date following the vesting of the RSU Award.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.