Common use of Issuance of Shares for Other Stock-Based Award Clause in Contracts

Issuance of Shares for Other Stock-Based Award. To the extent some or all of the shares of Stock represented by the Other Stock-Based Award are earned as provided in Section 4.1 and upon the certification set forth in Section 4.2 hereof, the Corporation will either (i) cause to be delivered to Grantee (which delivery may be by interoffice mail or by the U.S. mail at the last address for Grantee then indicated in the Corporation’s records) certificates for such shares registered in the name of Grantee (or cash) or (ii) credit such shares (or cash) to a book-entry account in Grantee’s name; provided further that the issuance of shares and/or payment of cash earned pursuant to the Other Stock-Based Award shall be made within 2 1/2 months following the end of the year in which the Performance Period ends. If payment is made in cash, the amount will be based upon the Fair Market Value of the shares otherwise issuable, as defined under the Plan, on the last day of the Performance Period, payable without interest.

Issuance of Shares for Other Stock-Based Award. To the extent some or all of the shares of Stock represented by the Other Stock-Based Award are earned as provided in Section 4.1 and upon the certification set forth in Section 4.2 hereof, the Corporation will either (i) cause to be delivered to Grantee (which delivery may be by Mellon interoffice mail or by the U.S. mail at the last address for Grantee then indicated in the Corporation’s records) certificates for such shares registered in the name of Grantee (or cash) or (ii) credit such shares (or cash) to a book-entry account in Grantee’s name; provided further that the issuance of shares and/or payment of cash earned pursuant to the Other Stock-Based Award shall be made within no later than 2 1/2 months following the end last day of the year in which the Performance Period endsPeriod. If payment is made in cash, the amount will be based upon the Fair Market Value of the shares otherwise issuable, as defined under the Plan, on the last day of the Performance Period, payable without interest.