Delivery of Shares/Payment. Except as set forth in paragraph 5 below, when all or any portion of the Performance Stock Units have become vested in accordance with paragraph 3 of this Vesting Schedule, the Company shall deliver to the Grantee (or his or her beneficiary in the event of death) on the Early Payment Date or the Final Payment Date, as applicable, a certificate representing the appropriate number of Shares (which will be unrestricted) or, if determined by the Company, other evidence of the Shares’ registration in book-entry form. In lieu of any fractional Share, the Company shall pay the Grantee an amount in cash equal to such fraction multiplied by the Fair Market Value of a Share determined as of the date of vesting.
Appears in 4 contracts
Samples: Performance Stock Unit Award Agreement (Pacer International Inc), Performance Stock Unit Award Agreement (Pacer International Inc), Performance Stock Unit Award Agreement (Pacer International Inc)
