Common use of Payment in Shares or Cash Clause in Contracts

Payment in Shares or Cash. The Company (or its successor) in its discretion shall settle the vested Restricted Stock Units either by (i) causing its transfer agent for Shares to register Shares in book-entry form in the name of the Participant (or, in the discretion of the Administrator, issue to the Participant a stock certificate) representing a number of Shares equal to the number of Restricted Stock Units becoming vested pursuant to Section 3, (ii) paying to the Participant an amount equal to the Fair Market Value of the number of Shares described in clause (i), or (iii) by a combination of the methodologies described in clauses (i) and (ii). Subject any deferral election made in accordance with a plan, program or arrangement for which the Participant is eligible, such payment or transfer of Shares shall occur as soon as may be practicable after the Vesting Date, but not later than March 15th of the taxable year of the Company following the Vesting Date in the case of vesting under Section 3(a), or not later than 90 days after the Participant’s death or Termination of Service by reason of Disability pursuant to Section 3(b) or a Change in Control pursuant to Section 3(d).

Payment in Shares or Cash. The Company (or its successor) in its discretion shall settle the vested Restricted Stock Units either by (i) causing its transfer agent for Shares to register Shares in book-entry form in the name of the Participant (or, in the discretion of the Administrator, issue to the Participant a stock certificate) representing a number of Shares equal to the number of Restricted Stock Units becoming vested pursuant to Section 3, (ii) paying to the Participant an amount equal to the Fair Market Value of the number of Shares described in clause (i), or (iii) by a combination of the methodologies described in clauses (i) and (ii). Subject any deferral election made in accordance with a plan, program or arrangement for which the Participant is eligible, such Such payment or transfer of Shares shall occur as soon as may be practicable after the Vesting Date, but not later than March 15th of the taxable year of the Company following the Vesting Date in the case of vesting under Section Sections 3(a) or 3(c), or not later than 90 days after the Participant’s death or Termination of Service by reason of Disability pursuant to Section 3(b) or qualifying Termination of Service following a Change in Control pursuant to Section 3(d3(e).