Common use of Deferral of Share Distribution Clause in Contracts

Deferral of Share Distribution. The Participant may elect to defer the receipt of Shares beyond the vesting date of the underlying Revenue Growth RSUs in Section 4(d) above, by written election on the Company’s then-current Deferral Election Form, filed within thirty (30) days of the Award Date. Any deferral period must be expressed as a number of whole years, not less than five (5) or more than ten (10), beginning on the Determination Date. Any such deferral election shall apply to the receipt of all Shares underlying the Revenue Growth RSUs under this Agreement; for example, a deferral period of seven (7) years would result in the Participant receiving all Shares underlying the vested Revenue Growth RSUs seven (7) years from the Determination Date regardless of the fact that the Revenue Growth RSUs under this Agreement may have vested at differing times. If a Participant elects a deferral period but thereafter the Participant’s Separation from Service occurs after the Revenue Growth RSUs vest but before the elected deferral period expires, then, subject to the forfeiture provisions of Sections 7 and 10, distribution of the Participant’s Shares underlying the Revenue Growth RSUs will occur in accordance with Section 6 below).

Appears in 2 contracts

Samples: 2016 Executive Performance Rsu Award Agreement (Fuel Tech, Inc.), 2015 Executive Performance Rsu Award Agreement (Fuel Tech, Inc.)

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Deferral of Share Distribution. The Participant may elect to defer the receipt of Shares beyond the vesting date of the underlying Revenue Growth Look-Back RSUs in Section 4(d3(d) above, by written election on the Company’s then-current Deferral Election Form, filed within thirty (30) days of the Award Date. Any deferral period must be expressed as a number of whole years, not less than five (5) or more than ten (10), beginning on the Determination Date. Any such deferral election shall apply to the receipt of all Shares underlying the Revenue Growth Look-Back RSUs under this Agreement; for example, a deferral period of seven (7) years would result in the Participant receiving all Shares underlying the vested Revenue Growth Look-Back RSUs seven (7) years from the Determination Date regardless of the fact that the Revenue Growth Look-Back RSUs under this Agreement may have vested at differing times. If a Participant elects a deferral period but thereafter the Participant’s Separation from Service occurs after the Revenue Growth Look-Back RSUs vest but before the elected deferral period expires, then, subject to the forfeiture provisions of Sections 7 and 10, distribution of the Participant’s Shares underlying the Revenue Growth Look-Back RSUs will occur in accordance with Section 6 below).

Appears in 2 contracts

Samples: 2016 Executive Performance Rsu Award Agreement (Fuel Tech, Inc.), 2015 Executive Performance Rsu Award Agreement (Fuel Tech, Inc.)

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Deferral of Share Distribution. The Participant may elect to defer the receipt of Shares beyond the vesting date of the underlying Revenue Growth TSR Performance RSUs in Section 4(d5(d) above, by written election on the Company’s then-current Deferral Election Form, filed within thirty (30) days of the Award Date. Any deferral period must be expressed as a number of whole years, not less than five (5) or more than ten (10), beginning on the Determination Date. Any such deferral election shall apply to the receipt of all Shares underlying the Revenue Growth TSR Performance RSUs under this Agreement; for example, a deferral period of seven (7) years would result in the Participant receiving all Shares underlying the vested Revenue Growth TSR Performance RSUs seven (7) years from the Determination Date regardless of the fact that the Revenue Growth TSR Performance RSUs under this Agreement may have vested at differing times. If a Participant elects a deferral period but thereafter the Participant’s Separation from Service occurs after the Revenue Growth TSR Performance RSUs vest but before the elected deferral period expires, then, subject to the forfeiture provisions of Sections 7 and 10, distribution of the Participant’s Shares underlying the Revenue Growth TSR Performance RSUs will occur in accordance with Section 6 below).

Appears in 2 contracts

Samples: 2016 Executive Performance Rsu Award Agreement (Fuel Tech, Inc.), 2015 Executive Performance Rsu Award Agreement (Fuel Tech, Inc.)

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