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

Form and Timing of Payment of Performance Shares. Subject to the terms of the Plan, payment of earned Performance Shares shall be made fifty percent (50%) in cash and fifty percent (50%) in Shares following the close of the applicable Performance Period. Subject to the terms of the Plan, the Committee shall pay out the earned Performance Shares within ninety (90) days of the close of the applicable Performance Period.