Form and Time of Payment. Confirmed Performance Share Units shall be payable on the applicable payment date (each, a “Payment Date”) as provided in this Section 4: • The Payment Date for Confirmed Performance Share Units vesting pursuant to Section 2(a) shall be a date selected by the Company that is no later than 60 days after January 1, 2017. Except as set forth below, such awards shall be paid on the Payment Date in cash, equal to (i) the Fair Market Value per share of the Company’s Common Stock on the last business day of 2016, times (ii) the number of Confirmed Performance Share Units then vesting. • The Payment Date for Confirmed Performance Share Units vesting pursuant to Section 2(b) shall be a date selected by the Company that is no later than 60 days after January 1, 2018. Except as set forth below, such awards shall be paid on the Payment Date in cash, equal to (i) the Fair Market Value per share of the Company’s Common Stock on the last business day of 2017, times (ii) the number of Confirmed Performance Share Units then vesting. • The Payment Date for Confirmed Performance Share Units vesting pursuant to Section 2(c) shall be the closing date of the Qualifying Change of Control. Except as set forth below, such awards shall be paid on the Payment Date in cash, equal to (i) the Fair Market Value per share of the Company’s Common Stock on the business day immediately preceding the closing date of the Qualifying Change of Control, times (ii) the number of Confirmed Performance Share Units then vesting. • The Payment Date for Confirmed Performance Share Units vesting pursuant to Sections 2(d) and 2(e) shall be a date selected by the Company that is: (i) if a Qualifying Termination under the circumstances described in clause (i) of Section 3(a) above, no later than 60 days after such Qualifying Termination, or (ii) if a qualifying resignation under the circumstances described in clause (ii) of Section 3(a) above, no later than 60 days after such qualifying resignation, or (iii) if a Qualifying Termination under the circumstances described in Section 3(b) above, no later than 30 days after the release of claims becomes effective. Except as set forth below, such awards shall be paid on the Payment Date in cash, equal to (i) the Fair Market Value per share of the Company’s Common Stock as of the last business day of the month preceding the date of the applicable employment termination, times (ii) the number of Confirmed Performance Share Units then vesting. Notwithstanding the ...
Form and Time of Payment. The cash amounts provided for in paragraph 4 above shall be paid in a single lump sum payment on the regularly scheduled payroll day immediately following the 30th day after Executive’s termination date (but in no event later than March 15th following the calendar year in which occurs the later of the time the legally binding right to the payment arises or the time such right first ceases to be subject to a substantial risk of forfeiture). It is intended that these payments constitute short-term deferred compensation within the meaning of the applicable Treasury regulations pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). Notwithstanding the preceding two sentences, if Executive is a “specified employee” at the time Executive separates from service with the Company and any payment or benefit under paragraph 4 is determined to constitute non-qualified deferred compensation, such payment shall be made or such benefit shall be provided on the date that is six months after Executive’s separation from service with the Company, all as determined in accordance with Section 409A of the Code.
Form and Time of Payment. (a) Subject to all the provisions of this RSU Agreement, each RSU granted hereunder shall represent the right to receive FECR Shares having a fair market value equal to the fair market value of one common unit (hereinafter a “FECR Holding LLC Interest”) of FECR Rail Holding LLC or any successor thereto (“FECR Holding LLC”), or, if the Company is prohibited at the relevant time by a credit or similar agreement from issuing equity securities to any persons or entities other than FECR Holding LLC, FECR Rail LLC (“FECR LLC”), and the Fortress Entities, one FECR Holding LLC Interest (in each case, as determined by the Board of Directors of the Company (the “Board”), in its good faith discretion). Notwithstanding the foregoing, (i) no fractional FECR Shares shall be issued hereunder, and (ii) where, absent this restriction, the Grantee would be entitled to receive a fractional FECR Share hereunder, the Grantee shall instead be entitled to receive cash in an amount equal to the value of such fractional share payable at such time that the fractional share would have otherwise been paid.
(b) The property required to be delivered pursuant to this Section 2 shall be delivered to the Grantee as soon as practicable after the relevant portion of the RSU grant becomes vested and nonforfeitable in accordance with the vesting schedule and provisions set forth in Exhibit A hereto, in settlement of the RSUs comprising such vested portion, but in no event later than two and one-half (2-1/2) months following the end of the calendar year in which such portion becomes vested and nonforfeitable (even if a termination of employment occurs after vesting and before delivery).
Form and Time of Payment. (1) The cash amounts provided for in this Section 4 will be paid in a single lump-sum payment on the regularly scheduled payroll day immediately following the 15th day after your Termination Date (but in no event later than March 15th following the calendar year in which occurs the later of the time the legally binding right to the payment arises or the time such right first ceases to be subject to a substantial risk of forfeiture). It is intended that these payments constitute short-term deferred compensation within the meaning of the applicable Treasury regulations pursuant to Section 409A of the Code. Notwithstanding the preceding two sentences, if you are a “specified employee” at the time you separate from service with Company and any payment or benefit under Section 4 is determined to constitute non-qualified deferred compensation, payment of any amounts pursuant to Section 4 will be made or such benefit will be provided on the date that is six months after your separation from service with the Company, all as determined in accordance with Section 409A of the Code.
(2) Except as otherwise expressly provided herein, to the extent any reimbursement under this Agreement is determined to be subject to Section 409A of the Code, the amount of any such expenses eligible for reimbursement in one calendar year will not affect the expenses eligible for reimbursement in any other taxable year, in no event will any reimbursements be paid after the last day of the calendar year following the calendar year in which you incurred such expenses, and in no event will any right to reimbursement be subject to liquidation or exchange for another benefit.
Form and Time of Payment. The cash amounts provided for in Sections 7(a) and (b) above shall be paid in a single lump sum payment on the regularly scheduled payroll day immediately following the 30th day after Executive’s termination date (but in no event later than March 15th of the year following the year in which such termination occurred). Notwithstanding the preceding sentence, (A) if Executive is a “specified employee” at the time he terminates employment with Fender and any payment or benefit under Section 7 is determined to constitute non-qualified deferred compensation, such payment shall be made or such benefit shall be provided on the date that is six months after termination of employment with the Company, all as determined in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations thereunder, applying all default provisions under such regulations.
Form and Time of Payment. The Award earned by reason of the Administrator’s certification as described above will be payable to the Participant (or the Participant’s beneficiary, or personal administrator in the case of your death or Disability) in (x) cash, (y) Common Stock or (z) a combination of cash and Common Stock, in all cases, at the Administrator’s sole discretion, during the first calendar year that commences immediately following the Maturity Date and at any time after the Vest Date; provided, that, in all cases, such payment shall occur on or before March 15 of such subsequent calendar year (the “Payment Date”). The number of shares of Common Stock to be delivered, if applicable, on the Payment Date will be determined by multiplying the number of Performance Share Units set forth in paragraph 1 by the Performance Multiple (as defined below) and, as applicable, rounded to the nearest whole number (such resulting number, the “Award Amount”). If a cash payment is made in lieu of delivering shares of Common Stock, the amount of such payment shall be equal to the aggregate Fair Market Value of the Award Amount on the Vest Date less any portion of the Award Amount paid in Common Stock.
Form and Time of Payment. The cash amounts provided for in Section 5 above shall be paid in a single lump sum payment on the regularly scheduled payroll day immediately following the 30th day after your termination date (but in no event later than March 15th following the calendar year in which occurs the later of the time the legally binding right to the payment arises or the time such right first ceases to be subject to a substantial risk of forfeiture). It is intended that these payments constitute short-term deferred compensation within the meaning of the applicable Treasury regulations pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). Notwithstanding the preceding two sentences, (A) if you are a “specified employee” at the time you separate from service with Company and any payment or benefit under Section 5 is determined to constitute non-qualified deferred compensation, such payment shall be made or such benefit shall be provided on the date that is six months after your separation from service with the Company, all as determined in accordance with Section 409A of the Code, and (B) if you separate from service with the Company on or before December 31, 2007, any amount that you are entitled to receive under this Agreement will be paid to you at the times contemplated under the Prior Agreement (as determined by the Company in accordance with Section 409A of the Code).
Form and Time of Payment. By the execution hereof, I agree to participate in the Plan, upon the terms and conditions set forth therein, and, in accordance therewith, elect to have my Account distributed to me in whole Shares (with cash being paid in lieu of fractional Shares), upon the earliest of the events checked below: o Death o One lump sum distribution. o Substantially equal annual payments over a period of years (up to 10). o As soon as practicable. o The next January 1st. o Other: . o Disability o One lump sum distribution. o Substantially equal annual payments over a period of years (up to 10). o As soon as practicable. o The next January 1st. o Other: . o Other Separation from Service o One lump sum distribution. o Substantially equal annual payments over a period of years (up to 10). o As soon as practicable. o The next January 1st. o Other: . o Change in Control o One lump sum distribution. o Substantially equal annual payments over a period of years (up to 10). o As soon as practicable. o The next January 1st. o Other: . o Specified Date o One lump sum distribution. o Substantially equal annual payments over a period of years (up to 10). Date: , .
Form and Time of Payment. Any Stock Bonus awarded by the Committee will be paid as soon as administratively feasible after the close of the fiscal year for which the Stock Bonus is awarded, but no later than the last day of the seventy five (75) day period following the end of the fiscal year. Payment will be made in the form of whole Shares in a lump sum payment. If an Employee’s employment or an Outside Director’s term is terminated due to Disability, Retirement or death after the award of a Stock Bonus but before the payment of the Shares, the Employee and/or Outside Director or their respective beneficiaries, as applicable, shall receive payment of the Shares within the time period referenced herein. If an Employee’s employment or an Outside Director’s term is terminated for any other reason after the award of a Stock Bonus but before the payment of the Shares, the payment shall be forfeited.
Form and Time of Payment. In the event of a Participant’s death prior to the time his benefits under the Plan commence to be distributed, the balance in his Individual Account shall be paid to his designated beneficiary in the form elected by the Participant in his most recently filed Participation Agreement. Such distribution shall be made or commence to be made within 60 days of the date of the Participant’s death. If the Participant has not made an election as to the form in which his benefit under the Plan is to be distributed, or if his election was not timely filed with the Committee or is not in proper form, such benefit shall be paid to the Participant’s designated beneficiary, in a single lump sum, within sixty (60) days of the date of the Participant’s death. If the Participant dies after distribution of his benefits under the Plan has commenced, his remaining benefit, if any, shall be distributed in the same form(s) and at the same time(s) as such benefit was being distributed prior to his death, or in a single lump sum, if effectively elected by the Participant in his most recently filed Participation Agreement. Notwithstanding any provision to the contrary, however, the Committee, in its sole discretion, may approve an accelerated method and time of distribution to said beneficiary or beneficiaries.
