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

Form and Timing of Payment of Performance Shares. Payment of earned and vested Performance Shares will be made as soon as practicable in the calendar year after the end of the applicable Performance Period. The Committee, in its sole discretion, may pay earned and vested Performance Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned and vested Performance Shares, determined as of the last day of the Performance Period) or a combination thereof.

Form and Timing of Payment of Performance Shares. Payment of earned and vested Performance Shares will be made as soon as practicable in either March or April of the calendar year after the end of the applicable Performance Period. The Committee, in its sole discretion, may pay earned and vested Performance Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned and vested Performance Shares, determined as of the last day of the Performance Period) or a combination thereof.