Payment of Deferred Stock Units. The Company shall make a payment to the Director of the vested Deferred Stock Units credited to the Account as provided in Section 9 upon the earliest of (i) the Director’s Termination of Service for any reason, (ii) the third anniversary of the [Grant Date/most recently completed Annual Meeting of Stockholders], (iii) a Change in Control that qualifies as a change in control event under Section 409A of the Code and the Treasury Regulations promulgated thereunder, or (iv) the Director’s death (in accordance with the provisions of Section 10); provided that if payment is made pursuant to Section 8(i) and the Director is deemed at the time of such Termination of Service to be a “specified” employee under Section 409A of the Code, then payment shall not be made or commence until the earliest of (i) the expiration of the six (6)-month period measured from the date of Director’s Termination of Service; or (ii) the date of Director’s death following such Termination of Service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to Director, including (without limitation) the additional 20% tax for which Director would otherwise be liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral.
Payment of Deferred Stock Units. Each Deferred Stock Unit granted pursuant to this Grant represents an unfunded and unsecured promise of the Company to issue to the Employee, on or as soon as practicable, but not later than 30 days, after the date the Deferred Stock Units vest pursuant to Section 1 or 2 and otherwise subject to the terms of this Agreement (including the country-specific terms set forth in Appendix A to this Agreement), the value of one share of the Common Stock. Except as otherwise expressly provided and subject to the terms of this Agreement (including Appendix A hereto), such issuance shall be made to the Employee (or, in the event of his or her death to the Employee’s estate or beneficiary as provided above) in the form of Common Stock as soon as practicable following the vesting of the Deferred Stock Units pursuant to Section 1 or 2.
Payment of Deferred Stock Units. The Performance Shares granted to you will be earned in accordance with the formula indicated in Attachment I based on Air Products’ relative “Total Shareholder Return” in relation to the “TSR comparator group” (as such terms are defined in Attachment I) over the three fiscal year performance period beginning 1 October 2021 and ending 30 September 2024 (the “Performance Period”). Subject to the conditions described in this Award Agreement, Performance Shares earned and not forfeited (including in the event of your termination of employment during the Deferral Period) shall be paid in shares of Common Stock, cash, or both, as determined by the Administrator or its delegate, in its sole discretion, as soon as administratively practical following the end of the Deferral Period (but in no event later than 60 days thereafter).
Payment of Deferred Stock Units. Each Deferred Stock Unit granted pursuant to this Grant represents an unfunded and unsecured promise of the Company to issue to the Employee, after the date the Deferred Stock Units vest pursuant to paragraph 1 or 2 and otherwise subject to the terms of this Agreement (including the country-specific terms set forth in Appendix A to this Agreement), the value of one share of the Common Stock. Except as otherwise expressly provided and subject to the terms of this Agreement (including Appendix A hereto and Section 9), such issuance shall be made to the Employee (or, in the event of his or her death to the Employee’s estate or beneficiary as provided above) in the form of Common Stock as soon as practicable, but not later than 30 days, following the vesting of the Deferred Stock Units pursuant to paragraph 1 or 2 (and with respect to the vesting of Deferred Stock Units pursuant to paragraph 1, in no event later than the last day of the calendar year in which such vesting occurred).
Payment of Deferred Stock Units. The Company shall make a payment to the Director of the vested Deferred Stock Units credited to the Account as provided in Section 8 upon the earlier of (i) the Director’s Termination of Service for any reason, or (ii) the third anniversary of the Grant Date. Notwithstanding the foregoing, upon a Change in Control prior to the payment events set forth in the preceding sentence, payment shall be accelerated to the date of the Change in Control. Notwithstanding the foregoing, upon the death of the Director prior to a payment date described above, payment shall be accelerated to the date of the Director’s death in accordance with the provisions of Section 9.
Payment of Deferred Stock Units. The Performance Shares granted to you will be earned in accordance with the formula indicated on the attached Earn Out Schedule based on Air Products Relative Total Shareholder Return in relation to the Peer Group over the three fiscal year performance period beginning 1 October 2016 and ending 30 September 2019 (the “Performance Period”). Subject to the conditions described below, each earned Performance Share will entitle you to receive, at the end of the Deferral Period, one Share. The Deferral Period will begin on the date of this Award Agreement and will end on 1 December 2019. Performance Shares earned and not forfeited (including in the event of your termination of employment prior to the end of the Deferral Period) shall be paid in shares of Common Stock or cash as determined by the Committee or its delegate, as soon as administratively practical following the end of the Deferral Period (but in no event later than 60 days thereafter).
Payment of Deferred Stock Units. The Director shall be entitled to receive Shares for Deferred Stock Units whose restrictions have lapsed pursuant to Paragraphs 3 or 8 herein. The Director will receive a number of Shares equal to the number of vested Deferred Stock Units. The Shares will be distributed to the Director one year following the date on which the Director’s service on the Board terminates. Notwithstanding the foregoing, if the Director’s service is terminated due to a Change in Control, the Shares (or the value of the Shares) shall be distributed to the Director 30 days following the Change in Control; provided however, if the change in control does not qualify for a Change in Control as defined under Code Section 409A the Shares (or the value of the Shares) shall not be distributed until one year following the date in which the Director’s service on the Board terminates.
Payment of Deferred Stock Units. The issuance of Shares in settlement of the Participant’s rights under this Award Agreement will be made in a lump sum on the Payment Date as specified in this Section 3. However, if the Participant has made a deferral election under the Executive Deferred Compensation Plan (the “EDCP”), the amount that otherwise would be paid under this Agreement will be credited to the Participant’s account under the EDCP at the time payment would otherwise be made (except, in the case of a payment on account of termination of employment, payment will be credited to Participant’s the EDCP account at the time of termination).
Payment of Deferred Stock Units. The issuance of Shares in settlement of the Participant’s rights under this Agreement will be made in a lump sum payment of whole shares with any fractional shares paid in cash during whichever of the following periods ends first:
(A) the month of April following the calendar year of the Participant’s separation from service, as defined under Code Section 409A, unless the Participant has elected to defer settlement in accordance with the deferral election provisions in Section 4;
(B) within 90 days of the date of the Participant’s death or disability, as defined under Code Section 409A (“Disability”), provided that the Participant does not have the right to designate the taxable year of the payment; and
(C) within 90 days of the date of a change of control of the Company, as defined under Code Section 409A, provided that the Participant does not have the right to designate the taxable year of the payment.
Payment of Deferred Stock Units. Deferred Stock Units that are vested in accordance with Section 2 above shall be settled on the earlier of the Participant’s termination of service on the Board, or the fourth anniversary of the Grant Date. As soon as practicable after such settlement date, the Participant shall be transferred one Share for each Deferred Stock Unit being settled on such date.
