Distributions Following Death. As soon as administratively feasible following the death of a Participant (but in no event later than 90 days following such death) all Shares issuable pursuant to Units that become vested pursuant to Section 2(c) (and with respect to which Shares have not been distributed previously) shall be distributed to Participant. In the event that the number of Shares distributable pursuant to this Section 3 is a number that is not a whole number, then the number of Shares distributed shall be rounded down to the nearest whole number.
Appears in 9 contracts
Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\), Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)
Distributions Following Death. As soon as administratively feasible following the death of a Participant (but in no event later than 90 days December 31 of the first calendar year following such deaththe calendar year in which the death occurred) all Shares issuable pursuant to Units that become vested pursuant to Section 2(c) (and with respect to which Shares have not been distributed previously2(a)(iii) shall be distributed to Participantthe representatives of Participant or to any Person to whom the Units have been transferred by will or the applicable laws of descent and distribution. In the event that the number of Shares distributable pursuant to this Section 3 is a number that is not a whole number, then the number of Shares distributed shall be rounded down to the nearest whole number.
Appears in 2 contracts
Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)
Distributions Following Death. As soon as administratively feasible following the death of a Participant (but in no event later than 90 days following such death) all Shares issuable pursuant to Units that become vested pursuant to Section 2(c) (and with respect to which Shares have not been distributed previously) shall be distributed to the Participant. In the event that the number of Shares distributable pursuant to this Section 3 is a number that is not a whole number, then the number of Shares distributed shall be rounded down to the nearest whole number.
Appears in 2 contracts
Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)
Distributions Following Death. As soon as administratively feasible following the death of a Participant (but in no event later than 90 days following such death) all Shares issuable pursuant to Units that become vested pursuant to Section 2(c) (and with respect to which Shares have not been distributed previously) shall be distributed to Participant. In the event that the number of Shares distributable pursuant to this Section 3 is a number that is not a whole number, then the number of Shares distributed shall be rounded down to the nearest whole number.
Appears in 1 contract
Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)
Distributions Following Death. As soon as administratively feasible following the death of a Participant (but in no event later than 90 days following such death) all Shares issuable pursuant to Units that become vested pursuant to Section 2(c) (and with respect to which Shares have not been distributed previously) shall be distributed to the Participant. In the event that the number of Shares distributable pursuant to this Section 3 is a number that is not a whole number, then the number of Shares distributed shall be rounded down to the nearest whole number.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\)