Deferral of Settlement. No settlement of the exercise of an Option may be deferred hereunder.
Deferral of Settlement. Notwithstanding the foregoing or anything in this Agreement or the Plan to the contrary, a Director may elect to defer receipt of shares of Stock to be received pursuant to this Agreement pursuant to the Company’s Directors’ Deferred Compensation Plan, as amended from time to time, or any successor deferred compensation plan applicable to non-employee directors.
Deferral of Settlement. Settlement of any Unit, which otherwise would occur upon the lapse of the risk of forfeiture of such Unit, will be deferred in certain cases if and to the extent validly elected by Employee. Deferrals shall comply with requirements under Section 409A of the Internal Revenue Code (the “Code”). Unless otherwise restricted by Section 409A and regulations thereunder, Employee will be permitted to elect deferral of settlement by filing an election at any time prior to the date six months before the Earning Date. At any time that Units are treated as deferred compensation subject to Section 409A, they will be subject to accelerated settlement under Section 9(a) of the Plan only if the Change in Control constitutes a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, within the meaning of Section 409A(a)(2)(A)(v). Deferrals will be subject to such other restrictions and terms as may be specified by the Company prior to deferral. It is understood that Section 409A and regulations thereunder may make it impractical for any such deferral to take place. Other provisions of this Agreement notwithstanding, under U.S. federal income tax laws and Treasury Regulations (including proposed regulations) as presently in effect or hereafter implemented, (i) if the timing of any distribution in settlement of Units would result in Employee’s constructive receipt of income relating to the Units prior to such distribution, the date of distribution will be the earliest date after the specified date of distribution that distribution can be effected without resulting in such constructive receipt; and (ii) any rights of Employee or retained authority of the Company with respect to Units hereunder shall be automatically modified and limited to the extent necessary so that Employee will not be deemed to be in constructive receipt of income relating to the Units prior to the distribution and so that Employee shall not be subject to any penalty under Section 409A.
Deferral of Settlement. Settlement of any Unit, which otherwise would occur upon the lapse of the risk of forfeiture of such Unit, will be deferred in certain cases if and to the extent validly elected by Employee. Deferrals shall comply with requirements under Section 409A of the Internal Revenue Code (the “Code”). In accordance with procedures established by the Company, the Employee may be permitted to elect deferral of settlement at times designated by the Company. At any time that Units are treated as deferred compensation subject to Section 409A, they will be subject to accelerated settlement under Section 9(a) of the Plan only if the Change in Control constitutes a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, within the meaning of Section 409A(a)(2)(A)(v). Deferrals will be subject to such other restrictions and terms as may be specified by the Company prior to
Deferral of Settlement. Notwithstanding the provisions of Section 8 of the Award Agreement, the Director may defer settlement of all or a portion of the Deferred Stock Units granted under this Award Agreement by completing a deferral election form. To be effective, the deferral election form must be in writing (including through email transmission) and completed no later than the December 31st of the calendar year immediately preceding the Grant Date. Any timely completed deferral election form shall be incorporated into and made a part of this Award Agreement. If the Director timely completes a deferral election form, any vested Deferred Stock Units that the Director elects to defer settlement pursuant to the preceding paragraph of this Section 9 shall be settled in the manner described in Section 8 of this Award Agreement on the earliest to occur of: (a) the anniversary of the date on which the Deferred Stock Units vested under Section 5 of this Award Agreement in the calendar year designated by the Director in his or her deferral election form; (b) the date of the Director’s death; (c) the date of the Director’s Disability; (d) the date on which the Director’s membership on the Board terminates; or (e) the occurrence of a Change in Control.
Deferral of Settlement. Settlement of any Unit, which otherwise would occur upon the lapse of the risk of forfeiture of such Unit, will be deferred in certain cases if and to the extent so elected by Employee in accordance with the cover page of this Agreement. The elections and terms set forth or incorporated in this Agreement notwithstanding, if, under U.S. Federal income tax laws as presently in effect or hereafter amended, any elections or rights of Employee with respect to the Units or deferrals hereunder would result in Employee’s constructive receipt of income relating to the Units prior to the actual distribution of shares of Common Stock in settlement of the Units, such elections or rights shall be automatically modified and limited to the extent necessary such that Employee will not be deemed to be in constructive receipt of such income prior to the actual distribution of such shares. If no modification to such elections or rights can provide for deferral past the vesting date without constructive receipt by the Employee, such elections and rights will be disregarded and unavailing, and settlement shall occur without regard to any such deferral election 7.
Deferral of Settlement. To the extent permitted by law, the Committee may permit the Grantee to elect to defer the settlement of the Restricted Stock Units pursuant to such rules, procedures or programs as it may establish for purposes of this Agreement. The Committee also may provide that the deferred settlement includes the payment or crediting of dividend equivalents or interest on the deferred amounts.
Deferral of Settlement. Settlement of any Unit, which otherwise would occur upon the lapse of the risk of forfeiture of such Unit, will be deferred in certain cases if and to the extent so elected by Employee in accordance with the cover page of this Agreement.
Deferral of Settlement. The Participant may defer settlement on the RSUs in writing on the deferral form provided with this grant setting forth the Participant’s desired settlement schedule. The deferral will not be permitted if, within the determination of the Company, such deferral would result in a violation of Section 409A of the Code and the regulations promulgated thereunder. If the deferral is not permitted, then settlement will be made as provided in Section 3(a) hereof.]
Deferral of Settlement. Settlement of any Unit, which otherwise would occur upon the lapse of the risk of forfeiture of such Unit, will be deferred in certain cases if and to the extent validly elected by Grantee. Deferrals shall comply with requirements under Section 409A of the Internal Revenue Code. It is understood that Section 409A and regulations thereunder may make it impractical for any such deferral to take place. At any time that Units are deferred, they will be subject to accelerated settlement under Section 9(a) of the Plan only if the Change in Control constitutes a change in control under applicable regulations then in effect under Section 409A. Other provisions of this Agreement notwithstanding, under U.S. federal income tax laws and Treasury Regulations (including proposed regulations) as presently in effect or hereafter implemented, (i) if the timing of any distribution in settlement of Units would result in Grantee’s constructive receipt of income relating to the Units prior to such distribution, the date of distribution will be the earliest date after the specified date of distribution that distribution can be effected without resulting in such constructive receipt (or, if delayed distribution would not avoid such constructive receipt, distribution will be accelerated to the date that would avoid such constructive receipt, but in no event will distribution occur before the Stated Vesting Date); and (ii) any rights of Grantee or retained authority of the Company with respect to Units hereunder shall be automatically modified and limited to the extent necessary so that Grantee will not be deemed to be in constructive receipt of income relating to the Units prior to the distribution and so that Grantee shall not be subject to any penalty under Section 409A of the Internal Revenue Code (the “Code”). 7.
