Common use of Form and Timing of Payment of Performance Shares Clause in Contracts

Form and Timing of Payment of Performance Shares. (a) The payment of the Performance Share Award shall be paid to the Participant no later than two and one-half months after the end of the Performance Period. Payment of the Performance Shares awarded shall be made subject to the following: (i) The Participant shall have no rights with respect to any Award until such Award shall be paid to such Participant. (ii) If the Committee determines, in its sole discretion, that the Participant at any time has willfully engaged in any activity that the Committee, in its sole discretion, determines was or is harmful to the Company, any unpaid Award will be forfeited by the Participant. (b) Performance Shares awarded, if any, will only be paid out in shares of Common Stock. (c) The Participant may defer receipt of all or any portion of the Performance Shares awarded hereunder, upon such terms and conditions stated in the deferral election form by filing such written election with the Senior Vice President of Human Resources of the Company no later than six months prior to the termination of the Performance Period, provided such election is made in a manner which complies with the requirements of Code Section 409A and/or other applicable laws. Deferrals may only be made into the Ingredion Incorporated phantom unit investment option under the Ingredion Incorporated Supplemental Executive Retirement Plan or a successor to that investment option.

Appears in 2 contracts

Samples: Performance Share Award Agreement (Ingredion Inc), Performance Share Award Agreement (Ingredion Inc)

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Form and Timing of Payment of Performance Shares. (a) The payment of the Performance Share Award Awards shall be paid to the Participant no later than two and one-half months after the end of the Performance Period. Payment of the Performance Shares awarded shall be made subject to the following: (i) The Participant shall have no rights right with respect to any Award until such Award award shall be paid to such Participant. (ii) If the Committee determines, in its sole discretion, that the Participant at any time has willfully engaged in any activity that the Committee, in its sole discretion, Committee determines was or is harmful to the Company, any unpaid Award will be forfeited by the Participant. (b) Performance Shares awarded, if any, will only be paid out in shares of Common StockCompany stock. (c) The Participant may defer receipt of all or any portion of the Performance Shares awarded hereunder, upon such terms and conditions stated in the deferral election form by filing such written election with the Senior Vice President of Human Resources of the Company no later than six months prior to the termination of the Performance Period, provided such election is made in a manner which complies with the requirements of Code Section 409A and/or other applicable laws. 409A. Deferrals may only be made into the Ingredion Incorporated Corn Products International, Inc. phantom unit investment option under the Ingredion Incorporated Corn Products International, Inc. Supplemental Executive Retirement Plan or a successor to that investment option.

Appears in 2 contracts

Samples: Performance Share Award Agreement (Corn Products International Inc), Stock Incentive Plan Award Agreement (Corn Products International Inc)

Form and Timing of Payment of Performance Shares. (a) The payment of the Performance Share Award Awards shall be paid to the Participant no later than two and one-half months after the end of the Performance Period. Payment of the Performance Shares awarded shall be made subject to the following: (i) The Participant shall have no rights right with respect to any Award until such Award award shall be paid to such Participant. (ii) If the Committee determines, in its sole discretion, that the Participant at any time has willfully engaged in any activity that the Committee, in its sole discretion, Committee determines was or is harmful to the Company, any unpaid Award will be forfeited by the Participant. (b) Performance Shares awarded, if any, will only be paid out in shares of Common StockCompany stock. (c) The Participant may defer receipt of all or any portion of the Performance Shares awarded hereunder, upon such terms and conditions stated in the deferral election form by filing such written election with the Senior Vice President of Human Resources of the Company no later than six months prior to the termination of the Performance Period, provided such election is made in a manner which complies with the requirements of Code Section 409A and/or other applicable laws. 409A. Deferrals may only be made into the Ingredion Incorporated Corn Products International, Inc. phantom unit investment option under the Ingredion Incorporated Corn Products International Supplemental Executive Retirement Plan or a successor to that investment option.

Appears in 2 contracts

Samples: Performance Plan Award Agreement (Corn Products International Inc), Stock Incentive Plan Award Agreement (Corn Products International Inc)

Form and Timing of Payment of Performance Shares. (a) The payment of the Performance Share Award Awards shall be paid to the Participant no later than two and one-half months after the end of the Performance Period. Payment of the Performance Shares awarded shall be made subject to the following: (i) The Participant shall have no rights right with respect to any Award until such Award award shall be paid to such Participant. (ii) If the Committee determines, in its sole discretion, that the Participant at any time has willfully engaged in any activity that the Committee, in its sole discretion, Committee determines was or is harmful to the Company, any unpaid Award will be forfeited by the Participant. (b) Performance Shares awarded, if any, will only be paid out in shares of Common StockCompany stock. (c) The Participant may defer receipt of all or any portion of the Performance Shares awarded hereunder, upon such terms and conditions stated in the deferral election form by filing such written election with the Senior Vice President of Human Resources of the Company no later than six months prior to the termination of the Performance Period, provided such election is made in a manner which complies with under the deferral requirements of Code Section 409A and/or other applicable laws. 409A. Deferrals may only be made into the Ingredion Incorporated phantom unit investment option under the Ingredion Incorporated Supplemental Executive Retirement Plan or a successor to that investment optionCorn Products stock fund.

Appears in 1 contract

Samples: Stock Incentive Plan Agreement (Corn Products International Inc)

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Form and Timing of Payment of Performance Shares. (a) The payment of the Performance Share Award Awards shall be paid to the Participant no later than two and one-half months after the end of the Performance Period. Payment of the Performance Shares awarded shall be made subject to the following: (i) The Participant shall have no rights with respect to any Award until such Award award shall be paid to such Participant. (ii) If the Committee determines, in its sole discretion, that the Participant at any time has willfully engaged in any activity that the Committee, in its sole discretion, Committee determines was or is harmful to the Company, any unpaid Award will be forfeited by the Participant. (b) Performance Shares awarded, if any, will only be paid out in shares of Common StockCompany stock. (c) The Participant may defer receipt of all or any portion of the Performance Shares awarded hereunder, upon such terms and conditions stated in the deferral election form by filing such written election with the Senior Vice President of Human Resources of the Company no later than six months prior to the termination of the Performance Period, provided such election is made in a manner which complies with the requirements of Code Section 409A and/or other applicable laws. 409A. Deferrals may only be made into the Ingredion Incorporated Corn Products International, Inc. phantom unit investment option under the Ingredion Incorporated Corn Products International, Inc. Supplemental Executive Retirement Plan or a successor to that investment option.

Appears in 1 contract

Samples: Performance Share Award Agreement (Corn Products International Inc)

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