Common use of Conversion to Stock Clause in Contracts

Conversion to Stock. Unless the RSUs are forfeited as provided in Section 4 above, the RSUs will be converted to Shares on the Designated Vesting Dates provided in Section 1(c), or earlier upon the occurrence of any of the events as provided in Sections 3(b) – 3(g), provided, however, that if the RSUs become vested upon your separation from service during a period in which you are a “specified employee” (as defined below), then, to the extent delivery of Shares would constitute non-exempt “deferred compensation” under Section 409A of the Code, your right to receive the Shares will be delayed until the earlier of your death or the first day of the seventh month following your separation from service (the “Conversion Date”). Shares will be registered on the books of the Company in your name as of the Conversion Date and delivered to you as soon as practical thereafter, in certificated or uncertificated form, as you shall direct.

Appears in 4 contracts

Samples: Restricted Stock Unit Award Agreement (Genworth Financial Inc), Award Agreement (Genworth Financial Inc), Award Agreement (Genworth Financial Inc)

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Conversion to Stock. Unless the RSUs are forfeited prior to the Vesting Date as provided in Section 4 above, the RSUs will be converted to Shares on the Designated Vesting Dates provided in Section 1(c), or earlier upon the occurrence of any of the events as provided in Sections 3(b) – 3(g)Date, provided, however, that if the RSUs become vested upon your separation from service during a period in which you are a “specified employee” (as defined below), then, subject to any permissible acceleration of payment by the extent delivery Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of Shares would constitute non-exempt “deferred compensation” under Section 409A interest), or (j)(4)(vi) (payment of the Codeemployment taxes), your right to receive the Shares will be delayed until the earlier of your death or the first day of the seventh month following your separation from service (the “Conversion Date”). Shares will be registered on the books of the Company in your name as of the Conversion Date and delivered to you as soon as practical thereafter, in certificated or uncertificated form, as you shall direct.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Genworth Financial Inc), Restricted Stock Unit Award Agreement (Genworth Financial Inc)

Conversion to Stock. Unless the RSUs are forfeited prior to the Vesting Date as provided in Section 4 2 above, the RSUs will be converted to Shares on the Designated Vesting Dates provided in Section 1(c), or earlier upon the occurrence of any of the events as provided in Sections 3(b) – 3(g)Date, provided, however, that if the RSUs become vested upon your separation from service during a period in which you are a “specified employee” (as defined below), then, subject to any permissible acceleration of payment by the extent delivery Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of Shares would constitute non-exempt “deferred compensation” under Section 409A interest), or (j)(4)(vi) (payment of the Codeemployment taxes), your right to receive the Shares will be delayed until the earlier of your death or the first day of the seventh month following your separation from service (the “Conversion Date”). Shares will be registered on the books of the Company in your name as of the Conversion Date and delivered to you as soon as practical thereafter, in certificated or uncertificated form, as you shall direct.

Appears in 2 contracts

Samples: Genworth Financial Inc, Genworth Financial Inc

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Conversion to Stock. Unless the RSUs are forfeited prior to the Vesting Date as provided in Section 4 paragraph 2 above, the RSUs will be converted to Shares on the Designated Vesting Dates provided in Section 1(c), or earlier upon the occurrence of any of the events as provided in Sections 3(b) – 3(g)Date, provided, however, that if the RSUs become vested upon your separation from service during a period in which you are a “specified employee” (as defined below), then, subject to any permissible acceleration of payment by the extent delivery Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of Shares would constitute non-exempt “deferred compensation” under Section 409A interest), or (j)(4)(vi) (payment of the Codeemployment taxes), your right to receive the Shares will be delayed until the earlier of your death or the first day of the seventh month following your separation from service (the “Conversion Date”). Shares will be registered on the books of the Company in your name as of the Conversion Date and delivered to you as soon as practical thereafter, in certificated or uncertificated form, as you shall direct.

Appears in 2 contracts

Samples: Rsu Award Agreement (Genworth Financial Inc), Rsu Award Agreement (Genworth Financial Inc)

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