Payment of Units. (a) The shares of Common Stock underlying Units which are then vested under Section 3(a) or 3(b) (the “Unit Shares”) shall be paid out to Executive within thirty (30) days following the first business day that occurs immediately following the 6-month period after the date of Executive’s Separation from Service.
Payment of Units. The value of the Units earned shall be converted to a fully equivalent cash value at the end of the Performance Period (or such earlier time as specified under Section 3(b)) and shall be payable in cash as soon as reasonably practicable following the close of the Performance Period (or such earlier time as specified under Section 3(b)) in the amount determined in accordance with Section 2, as adjusted by Section 3, if applicable. Such cash payment will be subject to withholding for taxes and other applicable payroll adjustments. The Committee’s determination of the amount payable shall be binding upon the Employee and his beneficiary or estate.
Payment of Units. Payment in respect of the Units earned for the Performance Period shall be made in shares of Stock and shall be issued to the Grantee within 10 days following the Vesting Date. The Company shall deliver to the Grantee a stock certificate for the number of earned and vested Units reduced by the number of shares of Stock having a value equal to the amount determined by the Company to be withheld for all applicable taxes pursuant to Section 21.
Payment of Units. (a) Except as provided under Section 7, payment in respect of the vested Units (i.e., Units earned for the Performance Period) shall be made in shares of Common Stock and shall be issued to Employee as soon as administratively practicable following the filing of the Annual Report on Form 10-K for the fiscal year ended December 31, 2121 (the final fiscal year of the Performance Period), and in any event within thirty (30) days following such filing and in all circumstances during the calendar year 2022. The Company shall (i) issue and deliver to Employee the number of shares of Common Stock equal to the number of vested Units, and (ii) enter Employee’s name on the books of the Company as the stockholder of record with respect to the shares of Common Stock delivered to Employee.
Payment of Units. The Company shall pay to the Employee a cash amount equal to $1 multiplied by the number of Performance Units that have been earned based on the Company’s performance during the Incentive Period as set forth in Exhibit A and satisfaction of the Terms and Conditions set forth herein, which amount shall be reduced by the value of all taxes which the Company is required by law to withhold by reason of such delivery. Except as provided in Sections 13 or 14, such delivery shall take place on the Performance Unit Payment Date. An Employee shall have no further rights with regard to a Performance Unit once the Performance Unit has been paid.
Payment of Units. Subject to compliance with the terms of this Agreement and the Plan, the Company shall cause to be issued and delivered to the Director one Share in payment and settlement of each whole Unit credited to the Director’s Account as soon as practicable following the earlier to occur of (a) the Director’s separation from service with the Company (within the meaning of Code Section 409A) and (b) a transaction or event that is a “Change of Control” within the meaning of Section 2.7 of the Plan (determined without regard to whether any designation may have been made by the Incumbent Directors under Section 2.7(b)), after giving effect to the final sentence of Section 2.7. In accordance with Section 19.12 of the Plan, no fractional Share shall be issuable to the Director, and the Unit balance in the Director’s Account shall be rounded to the next lower whole Unit for purposes of payment and settlement. Delivery of Shares in payment and settlement of Units shall be effected by an appropriate entry in the stock register maintained by the Company’s transfer agent with a notice of issuance provided to the Director, by the issuance of a certificate to the Director representing such Shares or by the electronic delivery of the Shares to a brokerage account designated by the Director. In no event shall the Shares be issued later than the later of December 31 of the calendar year in which the event giving rise to the issuance of the Shares occurs or the 15th day of the third calendar month following the event giving rise to the issuance of the Shares.
Payment of Units. The Company shall transfer to the Grantee (or to Grantee’s executor or administrator in the event of the Grantee’s death) the Ordinary Shares subject to the Units on the date that is six months after the date that the Grantee ceases to be a Director.
Payment of Units. Subject to legal or contractual obligations and Participant’s qualification to receive the Units as set forth in Section 5, the Company will deliver to the Participant as soon as practicable after the Restricted Period a number of Units equal to the number of vested Phantom Units net of any units used to satisfy all or part of the minimum tax withholding requirements. In addition, at the end of the Restricted Period the Company will pay to the Participant the value of the DERs on the gross number of Units received pursuant to the terms of this Agreement. The value of the DERs shall be the amount of all distributions per Unit that would have been earned and paid during the Restricted Period and no interest shall be paid on such amount. Such payment of DERs shall be in cash and used to satisfy all or part of the minimum tax withholding requirements. The number of Phantom Units required to cover minimum tax withholding will be based on the closing price of the Units at the end of the Restricted Period.
Payment of Units. (a) The shares of Common Stock underlying the Units (the “Unit Shares”) shall be paid out to Executive within thirty (30) days following the first business day that occurs immediately following the 6-month period after the date of Executive’s Separation from Service. (b) Any Unit Shares delivered shall be deposited in an account designated by Executive and maintained at a brokerage house selected by Executive. Any such Unit Shares shall be duly authorized, fully paid and non-assessable shares, listed with NASDAQ or the principal United States securities exchange on which the Common Stock is admitted to trading and registered on the Company Registration Statement, if registration is requested by Executive. (c) Except as otherwise provided in this Agreement, Executive shall not be deemed to be a holder of any Common Stock pursuant to a Unit until the date of the issuance of a certificate to him for such shares and, except as otherwise provided in this Agreement, Executive shall not have any rights to dividends or any other rights of a shareholder with respect to the shares of Common Stock covered by a Unit until such shares of Common Stock have been issued to him, which issuance shall not be unreasonably delayed. (d) The Company shall be entitled to withhold in cash or deduction from other compensation payable to the Executive any sums required by federal, state or local tax law to be withheld with respect to the vesting, distribution or payment of the Units or the Unit Shares. In satisfaction of the foregoing requirement with respect to the distribution or payment of the Units, the Company shall withhold shares of Common Stock otherwise issuable in such distribution having a Fair Market Value equal to the sums required to be withheld. Subject to the following sentence, the number of shares of Common Stock which shall be so withheld in order to satisfy the Executive’s federal, state and local withholding tax liabilities with respect to the issuance of shares of Common Stock in payment of the Units shall be limited to the number of shares which have a Fair Market Value on the date of withholding equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state and local tax purposes that are applicable to such supplemental taxable income. In the event that the number of shares of Common Stock having a Fair Market Value equal to the sums required to be withheld is not a whole number of shares, the number of s...
Payment of Units. (a) The shares of Common Stock underlying Units which are then vested under Section 3 shall be paid out to Executive following Executive’s Separation from Service, as follows: (i) if such Separation from Service occurs prior to the date on which Executive becomes Retirement Eligible, then within thirty (30) days following the first business day that occurs immediately following the 6-month period after the date of Executive’s Separation from Service or (ii) if such Separation from Service occurs on or following the date on which Executive becomes Retirement Eligible, then within thirty (30) days following the first business day that occurs immediately following the later to occur of (i) the date on which the Units would have vested in accordance with this Agreement had Executive continued to be in service with the Company until such date and (ii) the 6-month period after the date of Executive’s Separation from Service.
