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

Form and Timing of Payment of Performance Shares. The Company shall deliver to the Employee one Share in settlement of each earned Performance Share. At the end of the Performance Period, the Committee shall determine, in its sole discretion, the number of Performance Shares that have been earned based on the achievement of the Performance Goals described in Section 1 of this Agreement. Except as otherwise provided in Section 4, payment shall be made as soon as administratively practicable in the year after the year in which the Performance Period ends, but in any event, no later than March 15 of the year following the year in which the Performance Period ends.