Award Denomination Clause Samples
The Award Denomination clause specifies the currency in which any payments, awards, or settlements under the agreement will be made. Typically, this clause identifies a single currency—such as US dollars or euros—that will be used for all financial transactions related to the contract, regardless of the parties' home currencies or the location of the dispute. By clearly establishing the currency for payments, the clause eliminates ambiguity, reduces the risk of exchange rate disputes, and ensures consistency in financial calculations.
Award Denomination. Although your Award is initially denominated in cash, it will be converted into Holding Units, Money Market Shares or a combination thereof. You may elect the percentage of your Award to be denominated in Holding Units and Money Market Shares by timely completing and submitting a year 2002 offering Investment Election Form. Your election will be subject to the approval of the Committee. If you fail to make a timely election your Award will be invested 100% into Money Market Shares, unless the Committee determines otherwise, in its sole discretion.