Common use of Payment Upon Vesting Clause in Contracts

Payment Upon Vesting. Any Shares that vest in accordance with paragraph 2 will be paid to the Grantee (or in the event of the Grantee’s death, to his or her estate) in Shares, provided that to the extent determined appropriate by the Company, the minimum statutorily required federal, state and local withholding taxes with respect to such Shares will be paid by reducing the number of vested Shares actually paid to the Grantee.

Appears in 4 contracts

Samples: Restricted Stock Agreement (Solid Solar Energy, Inc.), Restricted Stock Agreement (Icarus Wind Energy, Inc.), Restricted Stock Agreement (Icarus Wind Energy, Inc.)

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