Common use of Payment of Award Clause in Contracts

Payment of Award. Payment of vested Restricted Stock Units (which shall include Restricted Stock Units credited pursuant to Dividend Equivalents described in Section 4) shall be made within thirty (30) days following the earlier of (i) the Vesting Date; or (ii) the vesting of this RSU Award in whole or in part pursuant to Sections 2(b), 2(c) or 3 hereof, but subject in each case, as applicable, to any delay that may be required under Section 16 hereof. The vested Restricted Stock Units shall be paid in the form of one share of Stock for each Restricted Stock Unit, minus deductions for applicable minimum statutory withholding taxes as set forth in Section 11 of this Agreement.

Appears in 6 contracts

Samples: Restricted Stock Unit Agreement (Potomac Electric Power Co), Restricted Stock Unit Agreement (Potomac Electric Power Co), Restricted Stock Unit Agreement (Pepco Holdings Inc)

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Payment of Award. Payment Except as otherwise provided by Section 24 hereof, payment of vested Restricted Stock Units (which shall include Restricted Stock Units credited pursuant to Dividend Equivalents described in Section 4) shall be made within thirty (30) days following the earlier of (i) the Vesting Date; or (ii) the vesting of this RSU Award in whole or in part pursuant to Sections 2(b), 2(c) or 3 hereof, but subject in each case, as applicable, to any delay that may be required under Section 16 hereof. The vested Restricted Stock Units shall be paid in the form of one share of Stock for each Restricted Stock Unit, minus deductions for applicable minimum statutory withholding taxes as set forth in Section 11 of this Agreement.

Appears in 6 contracts

Samples: Restricted Stock Unit Agreement (Potomac Electric Power Co), Restricted Stock Unit Agreement (Potomac Electric Power Co), Restricted Stock Unit Agreement (Potomac Electric Power Co)

Payment of Award. Payment of vested Restricted Stock Units (which shall include Restricted Stock Units credited pursuant to Dividend Equivalents described in Section 4) shall be made within thirty (30) days following the earlier of (i) the Vesting Date; satisfaction of all of the applicable vesting requirements under Section 2 hereof and the determination of the number of Restricted Stock Units, if any, payable under this RSU Award, or (ii) the accelerated vesting of this RSU Award in whole or in part pursuant to Sections 2(b), 2(c) or under Section 3 hereof; provided, but subject however, that the timing of all payments hereunder shall be made in each case, as applicable, to any delay that may be required under compliance with Section 16 hereof18. The vested Restricted Stock Units shall be paid in the form of one share of Stock for each Restricted Stock Unit, minus deductions for applicable minimum statutory withholding taxes as set forth in Section 11 of this Agreement.

Appears in 5 contracts

Samples: Restricted Stock Unit Agreement (Potomac Electric Power Co), Restricted Stock Unit Agreement (Pepco Holdings Inc), Restricted Stock Unit Agreement (Pepco Holdings Inc)

Payment of Award. Payment of vested Restricted Stock Units (which shall include Restricted Stock Units credited pursuant to Dividend Equivalents described in Section 4) shall be made within thirty (30) days following the earlier of (i) the Vesting Date; satisfaction of all of the applicable vesting requirements under Section 2 hereof and the determination of the number of Restricted Stock Units, if any, payable under this RSU Award, or (ii) the accelerated vesting of this RSU Award in whole or in part pursuant to Sections 2(b), 2(c) or under Section 3 hereof; provided, but subject however, that the timing of all payments hereunder shall be made in each case, as applicable, to any delay that may be required under compliance with Section 16 hereof17. The vested Restricted Stock Units shall be paid in the form of one share of Stock for each Restricted Stock Unit, minus deductions for applicable minimum statutory withholding taxes as set forth in Section 11 of this Agreement.

Appears in 4 contracts

Samples: Restricted Stock Unit Agreement (Potomac Electric Power Co), Restricted Stock Unit Agreement (Pepco Holdings Inc), Restricted Stock Unit Agreement (Pepco Holdings Inc)

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Payment of Award. Payment of vested Restricted Stock Units (which shall include Restricted Stock Units credited pursuant to Dividend Equivalents described in Section 4) shall be made within thirty (30) days following the earlier of (i) the Vesting Date; or (ii) the vesting of this RSU Award in whole or in part pursuant to Sections 2(b), 2(c) or 3 hereof, but subject in each case, as applicable, to (i) the provisions of Section 17 hereof, and (ii) any delay that may be required under Section 16 hereof. The vested Restricted Stock Units shall be paid in the form of one share of Stock for each Restricted Stock Unit, minus deductions for applicable minimum statutory withholding taxes as set forth in Section 11 of this Agreement.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Pepco Holdings Inc)

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