Distribution of Common Stock. Subject to Section 13 of this Agreement, the Common Stock or cash the Grantee becomes entitled to receive upon vesting of any Restricted Units shall be distributed to the Grantee as soon as practicable after the vesting date for such Restricted Units, as determined by the Committee in its discretion, but in no event later than 75 days after the vesting date. The Grantee shall not be permitted, directly or indirectly, to designate the form of payment or the taxable year in which any payment is to be made. 6.
Distribution of Common Stock. (a) Shares of Common Stock shall be distributed to Holder (or in the event of Xxxxxx’s death, to his or her estate) with respect to such Xxxxxx’s vested Restricted Stock Units granted to Holder pursuant to this Agreement, subject to the terms and provisions of the Plan and this Agreement, commencing following the earliest to occur of the following events (each, a “Distribution Event”):
Distribution of Common Stock. As soon as practicable after the Restricted Stock Units shall have vested as set forth in Section 2, the Company shall issue certificates representing the Common Stock underlying the vested Restricted Stock Units. The shares of Common Stock issued upon vesting of the Restricted Stock Units shall be subject to the terms of the Pledge and Security Agreement, dated the date hereof, between the Company and Grantee (the "Pledge Agreement"), and the certificates representing such shares of Common Stock shall be held by the Company pursuant to the terms of the Pledge Agreement. As a condition to the issuance of shares of Common Stock upon vesting of the Restricted Stock Units, Grantee shall deliver to the Company a stock power, executed in blank, with respect to such shares.
Distribution of Common Stock. Subject to the terms of Sections 8 and 24, and except as otherwise provided in this Section 4, the Company shall distribute to the Participant (or his or her heirs in the event of the Participant’s death) at the time of vesting of the Restricted Stock Units (as provided in Section 2 or Section 7 hereof), a number of shares of Common Stock equal to the number of Restricted Stock Units then held by the Participant that became vested at such time. Shares of Common Stock or any other benefit subject to the Restricted Stock Units shall, upon vesting of the Restricted Stock Units pursuant to Section 2 or Section 7 (and except as otherwise provided in Section 2 and Section 4 herein in the event of Retirement Eligibility), be issued and distributed to the Participant (or his or her beneficiary) no later than the later of (a) the 15th day of the third month following the Participant’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture, or (b) the 15th day of the third month following the end of the Company’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture, or otherwise in accordance with Code Section 409A. Shares subject to the Restricted Stock Units which become vested upon the Participant’s becoming Retirement Eligible shall be distributed upon the first to occur of (i) each Vesting Date(s) as specified in Section 2 herein, (ii) the date of the Participant’s Termination of Employment (that is, the date of the Participant’s separation from service, as defined under Code Section 409A) after becoming Retirement Eligible, (iii) the date of the Participant’s death, (iv) the date of the Participant’s Disability (as defined under Code Section 409A), or (v) the date of the Participant’s Termination of Employment by the Company not for Cause or by the Participant for Good Reason within two years after the effective date of a Change in Control (as defined under Code Section 409A). Shares to be distributed as provided in the preceding sentence (following vesting due to Retirement Eligibility) shall be distributed within 90 days of the first to occur of the dates described in (i) through (v) of the preceding sentence (provided that in no event shall the Participant have the right to designate the taxable year in which such distribution shall occur).
Distribution of Common Stock. The Common Stock or cash the Grantee becomes entitled to receive upon vesting of the Performance Units shall be distributed to the Grantee as soon as reasonably practicable after the vesting date for such Performance Units, as determined by the Committee in its discretion. Except as provided in Section 6 below, all Common Stock and cash the Grantee becomes entitled to receive pursuant to the Award shall be distributed to the Grantee after the expiration of the Performance Period, but in no event later than the 15th day of the third month after the end of the Performance Period. Except as provided in Section 6 below, the Grantee shall not be permitted, directly or indirectly, to designate the form of payment or the taxable year in which it is to be made.
Distribution of Common Stock. Unless a timely deferral election (if available) is made in accordance with Section 6 below, and subject to any payment restrictions under Code Section 409A or other applicable law, the Common Stock or cash the Grantee becomes entitled to receive upon vesting of the Performance Units shall be distributed to the Grantee no later than 75 days after the earlier of (i) the last day of the Performance Period; or (ii) the effective date of a Change in Control. Except as provided in Section 6 below, the Grantee shall not be permitted, directly or indirectly, to designate the form of payment or the taxable year in which it is to be made.
Distribution of Common Stock. If the Performance Shares vest, the Grantee shall receive a distribution of shares of Common Stock equal to the number of vested Performance Shares (including any vested Performance Shares attributable to Dividend Equivalents) and a cash payment in respect of any Dividend Equivalents paid in cash (subject to the withholding requirements set forth in the Plan and Section 11 below). Distribution of shares of Common Stock shall occur (a) if the Performance Shares vest on the last day of the Performance Cycle pursuant to Section 3 or 7(b) above, as soon as administratively possible, as determined solely by the Company, in the calendar year following the end of the Performance Cycle, but in no event later than March 15 of such calendar year and (b) if the Performance Shares vest before the last day of the Performance Cycle due to the Grantee’s Termination pursuant to Section 7(a) above or otherwise, within 60 days following the date the Performance Shares vest. Notwithstanding the immediately preceding sentence, if the Grantee is a "specified employee" as defined in Code Section 409A, in the case of a distribution of shares of Common Stock on account of any Termination, other than due to death, to the extent required to avoid incurring taxes under Section 409A, the distribution of shares of Common Stock (and any Dividend Equivalents) in respect of the vested Performance Shares shall not occur until the date which is six months following the date of the Grantee’s Termination (or, if earlier, upon the death of the Grantee). Upon a distribution of shares of Common Stock as provided herein, the Company shall cause the Common Stock then being distributed to be registered in the Grantee’s name. From and after the date of receipt of such distribution, the Grantee or the Grantee's legal representatives, beneficiaries or heirs, as the case may be, shall have full rights of transfer or resale with respect to such shares subject to applicable Company policies and state and federal regulations.
Distribution of Common Stock. Subject to any payment restrictions under Code Section 409A or other applicable law, the Common Stock or cash the Grantee becomes entitled to receive upon vesting of the Performance Units shall be distributed to the Grantee no later than 75 days after the first to occur of (i) the last day of the Performance Period, (ii) the date of the Grantee’s separation from service in the event of a payment subject to Plan Section 11.1, or (iii) the effective date of a Change in Control in the event of a payment subject to Plan Section 11.2. Payment upon or after a Change in Control shall be made in cash or shares of Common Stock, as determined by the Committee. 6.
Distribution of Common Stock. Subject to the provisions below, as soon as practical after each vesting date, the Company shall transfer shares of Common Stock to the Participant equal in number to the Stock Unit Awards credited to the Participant’s Stock Unit Account that have vested and were not previously transferred to Participant. Such transfer shall be made within 30 days following each vesting date or, if not so practicable, as soon thereafter as practicable.
Distribution of Common Stock. Subject to the provisions below, as soon as practical after the Participant experiences a separation from service for purposes of Section 409A of the Internal Revenue Code, the Company shall transfer shares of Common Stock to the Participant equal in number to the Stock Unit Awards credited to the Participant’s Stock Unit Account that are vested at the time of such separation from service. Such transfer shall be made within 30 days following such separation from service. Notwithstanding the foregoing sentence, any distribution to a Participant who is also a “specified employee”, as defined under Section 409A of the Internal Revenue Code, shall be delayed, and not distributed until the date that is six months and one day following a separation from service for purposes of Section 409A of the Internal Revenue Code.
