Mandatory Deferral of Vesting. If the vesting of Restricted Stock in any year could, in the Committee’s opinion, when considered with your other compensation, result in the Company’s inability to deduct the value of your Shares because of the limitation on deductible compensation under Internal Revenue Code Section 162(m), then the Company in its sole discretion may defer the Vesting Date applicable to your Restricted Stock (but only to the extent that, in the Committee’s judgment, the value of your Restricted Stock would not be deductible) until six months following the termination of your Employee status.
Appears in 5 contracts
Samples: Restricted Stock Agreement (Universal Logistics Holdings, Inc.), Restricted Stock Agreement (Universal Truckload Services, Inc.), Restricted Stock Agreement (Universal Truckload Services, Inc.)
