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.
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Samples: Performance Share Unit Agreement (Holly Corp), Performance Share Unit Agreement (Holly Corp)
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 's determination of the amount payable shall be binding upon the Employee and his beneficiary or estate.
Appears in 1 contract
Samples: Performance Unit Agreement (Holly Energy Partners Lp)
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 5 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 's determination of the amount payable shall be binding upon the Employee and his beneficiary or estate.
Appears in 1 contract
