Common use of Grant of Stock Units Clause in Contracts

Grant of Stock Units. Effective as of the Grant Date, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six hundred eighty-five thousand five hundred thirty-four (685,534) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Datedate hereof, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six hundred eighty-five two million ninety three thousand five hundred thirty-sixty four (685,5342,093,064) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Date, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six two million twenty-eight thousand four hundred eighty-five thousand five hundred thirty-four one (685,5342,028,481) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Datedate hereof, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six five million two hundred eighty-five seventy four thousand five hundred thirty-four nineteen (685,5345,274,519) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Datedate hereof, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, three hundred fifty- three thousand six hundred eighty-five thousand five hundred thirty-four eighty (685,534353,680) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Datedate hereof, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, three hundred and fifty- three thousand six hundred eighty-five thousand five hundred thirty-four eighty (685,534353,680) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Date, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six one hundred eightytwenty-five thousand five three hundred thirtytwenty-four (685,534125,324) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Datedate hereof, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six two hundred eighty-five nine thousand five three hundred thirty-four eight (685,534209,308) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Date, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six two hundred eightythree thousand eight hundred forty-five thousand five hundred thirty-four (685,534203,845) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Date, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, six two million twenty-eight thousand four hundred eighty-five thousand five hundred thirty-four eighty (685,5342,028,480) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.

Grant of Stock Units. Effective as of the Grant Date, the Company hereby grants to Employee, subject to the vesting provisions and restrictions set forth below, two hundred three thousand eight hundred forty six hundred eighty-five thousand five hundred thirty-four (685,534203,846) Stock Units (the "Grant Shares") under the SIP. The number and type of Grant Shares are subject to adjustment pursuant to Section 4.2 of the SIP. Employee shall be eligible for payment of Grant Shares at or following the vesting of such Grant Shares. The form of payment of Grant Shares shall only be in Company Common Stock and Employee shall be paid one share of Common Stock for each Grant Share. Employee shall have no voting rights with respect to the Grant Shares until such Grant Shares are vested. Employee shall not sell, transfer, pledge, assign or otherwise alienate or hypothecate the Grant Shares. Any sale or transfer, or purported sale or transfer, shall be null and void. If, when and as ordinary cash dividends are paid on shares of Common Stock generally, Employee shall be paid DERs equivalent to the ordinary cash dividends that would be paid with respect to Z shares of Common Stock where "Z" is the number of the unvested (and unforfeited) Grant Shares at the time of such ordinary cash dividend payment. Any DERs provided under this Agreement shall be paid in cash, shares of Common Stock or other Awards as may be determined by the Committee. In the event that the Company determines that the Company (or any affiliate or subsidiary of Company) is required to withhold any tax as a result of the issuance, vesting, payment or disposition of any Grant Shares, the tax withholding obligation shall be satisfied in accordance with the provisions and terms of Section 4.5 of the SIP.