Award Payment. Subject to all terms and conditions of the Plan, the Participant’s Actual Value at the end of the Award Period will be settled in cash, in Class A Common Shares (“Shares”), or partly in cash and partly in Shares, as determined by the Committee. In the event of any cash, the cash value will be: (a) the Actual Value, times (b) the percentage of the Award settled in cash; and the number of Shares issued will be: (a) the Actual Value, divided by (b) the Market Value of a share, times (c) the percentage of the Award settled in Shares If settled entirely in Shares, the number of Shares issued will be: (a) the Actual Value, divided by (b) the Market Value of a share.
Appears in 7 contracts
Samples: Long Term Incentive Plan Grant (OneBeacon Insurance Group, Ltd.), Long Term Incentive Plan Grant (OneBeacon Insurance Group, Ltd.), Long Term Incentive Plan Grant (OneBeacon Insurance Group, Ltd.)
