Valuation and Payment of Units. Subject to [Section 6] hereof, a Participant shall be entitled to a benefit under the Plan with respect to each Stock Unit Award upon the Realization Date for such Stock Unit Award. Such benefit shall be equal to the cash amount determined by multiplying # the number of Stock Units credited to the Participant’s Stock Unit Account in respect of the Stock Unit Award for which the Realization Date has occurred (including additional Stock Units credited to the Participant’s Stock Unit Account with respect thereto pursuant to [Section 4(d)] hereof) by # the Fair Market Value of the Common Stock on the Realization Date. Each such amount shall be paid to the Participant in cash within 30 days after the applicable Realization Date.

Subject to compliance with the terms of this Agreement and the Plan, the Company shall cause to be issued and delivered to the Director one Share in payment and settlement of each whole Unit credited to the Director’s Account as soon as practicable following the earlier to occur of # the Director’s separation from service with the Company (within the meaning of Code Section 409A) and # a transaction or event that is a “Change of Control” within the meaning of [Section 2.7] of the Plan (determined without regard to whether any designation may have been made by the Incumbent Directors under [Section 2.7(b)]), after giving effect to the final sentence of [Section 2.7]. In accordance with [Section 19.12] of the Plan, no fractional Share shall be issuable to the Director, and the Unit balance in the Director’s Account shall be rounded to the next lower whole Unit for purposes of payment and settlement. Delivery of Shares in payment and settlement of Units shall be effected by an appropriate entry in the stock register maintained by the Company’s transfer agent with a notice of issuance provided to the Director, by the issuance of a certificate to the Director representing such Shares or by the electronic delivery of the Shares to a brokerage account designated by the Director. In no event shall the Shares be issued later than the later of December 31 of the calendar year in which the event giving rise to the issuance of the Shares occurs or the 15th day of the third calendar month following the event giving rise to the issuance of the Shares.

If the Payee disagrees with the calculation of the Revised Payable Amount included in the Valuation Certificate (including any disagreement in relation to the Valuation Methodology and its application), the Payee shall notify the Promisor as soon as reasonably practicable following receipt of the Valuation Certificate of its reasonably detailed good faith calculation of the Revised Payable Amount. The Promisor and HWIC shall provide to the Payee all information and documents reasonably required in order to determine the calculation of the Revised Payable Amount.

Valuation Policy. A copy of the Valuation Policy.

Valuation Date. “Valuation Date” means each business day on which the New York Stock Exchange is open.

Valuation Date. Valuation Date means the date elected by the Employer in the Adoption Agreement as of which Account balances or accrued benefits are valued for purposes of calculating the "top-heavy ratio."

Valuation Date. For any month, the third Monday of the month, or if Shares are not traded on the New York Stock Exchange on such third Monday, the next day on which Shares are traded on the New York Stock Exchange.

Certain other defined terms used in particular provisions of the Plan are defined where used.

Participant Account Valuation. After the end of each Valuation Date, the Trustee shall value all assets of the Trust Fund (taking into account income, expenses, gains and losses as set forth herein), including the value of each Investment Fund and, prior to ​, the value of the Company Stock. Each Participant’s Account balance shall be adjusted as of each Valuation Date by applying the closing fair market value of the shares or units of each investment in the Participant’s Accounts on such Valuation Date to the number of such shares or units of such investment at the close of business on such Valuation Date.

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.