Common use of Payment of PSUs Clause in Contracts

Payment of PSUs. The PSUs granted pursuant to this Award represent an unfunded and unsecured promise of the Company, subject to the vesting, performance conditions and other terms of this Agreement, to issue to the Employee the number of shares of the Common Stock underlying the vested PSUs and to pay to the Employee in a single lump sum any cash amount accrued with respect to dividends. Except as otherwise expressly provided in the 2018 Stock Award section of the Award Statement, this Agreement and the Plan, such issuance and lump sum payment 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) as soon as practicable following the vesting of the PSUs pursuant to Section 2 or 3 and by the later of December 31 of the year of such vesting or two and a half months after such vesting. Notwithstanding the foregoing, the PSUs shall be settled in the form of cash rather than shares of Common Stock if such form of settlement is specified in the Award Statement.

Payment of PSUs. The PSUs granted pursuant to this Award represent an unfunded and unsecured promise of the Company, subject to the vesting, performance conditions and other terms of this Agreement, to issue to the Employee the number of shares of the Common Stock underlying the vested PSUs and to pay to the Employee in a single lump sum any cash amount accrued with respect to dividends. Except as otherwise expressly provided in the 2018 2019 Stock Award section of the Award Statement, this Agreement and the Plan, such issuance and lump sum payment 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) as soon as practicable following the vesting of the PSUs pursuant to Section 2 or 3 and in any event by the later of December 31 of the year of such vesting or two and a half months after such vesting. Notwithstanding the foregoing, the PSUs shall be settled in the form of cash rather than shares of Common Stock if such form of settlement is specified in the Award Statement.

Payment of PSUs. The PSUs granted pursuant to this Award represent an unfunded and unsecured promise of the Company, subject to the vesting, performance conditions and other terms of this Agreement, to issue to the Employee the number of shares of the Common Stock underlying the vested PSUs and to pay to the Employee in a single lump sum any cash amount accrued with respect to dividends. Except as otherwise expressly provided in the 2018 2017 Stock Award section of the Award Statement, this Agreement and the Plan, such issuance and lump sum payment 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) as soon as practicable following the vesting of the PSUs pursuant to Section 2 or 3 and by the no later of December 31 than March 15th of the year of following such vesting or two and a half months after such vestingevent. Notwithstanding the foregoing, the PSUs shall be settled in the form of cash rather than shares of Common Stock if such form of settlement is specified in the Award Statement.