Common use of Settlement and Payment Clause in Contracts

Settlement and Payment. Subject to the terms and conditions of this Award Agreement, Restricted Stock Units and associated Dividend Cash Amounts that have become vested in accordance with Paragraph 2 shall be paid and settled as of the applicable Vesting Date. The date on which payment and settlement occurs is referred to as the “Settlement Date.” Unless otherwise provided by the Committee in accordance with the Plan, (a) settlement of the vested Restricted Stock Units on a Settlement Date shall be made in a cash lump sum payment in an amount equal to (i) the fair market value of a share of Common Stock (determined as of the applicable Settlement Date), multiplied by (ii) the number of vested Restricted Stock Units being settled as of such Settlement Date and (b) settlement and payment of the vested Dividend Cash Amounts on a Settlement Date shall be made in a cash lump sum payment. Upon the payment and settlement of any vested Restricted Stock Units, such Restricted Stock Units shall be cancelled and upon payment of any Dividend Cash Amounts the balance in the Participant’s Dividend Cash Account shall be reduced by the amount paid to the Participant pursuant to the foregoing provisions of this Paragraph 4.

Settlement and Payment. Subject to the terms and conditions of this Award Agreement, Restricted Stock Units and associated Dividend Cash Amounts that have become vested in accordance with Paragraph 2 shall be paid and settled as of the applicable Vesting Date. The date on which payment and settlement occurs is referred to as the “Settlement Date.” Unless otherwise provided determined by the Committee in accordance with the terms of the Plan, (a) settlement of the vested Restricted Stock Units on a Settlement Date shall be made in a cash lump sum payment in the form of an amount of cash equal to (i) the fair market value Fair Market Value of a share of Common Stock (determined for each Restricted Stock Unit being settled as of the applicable such Settlement Date), multiplied by (ii) plus an amount of cash equal to the number Fair Market Value of vested any fractional Restricted Stock Units Unit being settled as of such Settlement Date and (b) settlement and payment of the vested Dividend Cash Amounts on a Settlement Date shall be made paid in a cash lump sum payment. Upon the payment and settlement of any vested Restricted Stock Units, Units such Restricted Stock Units shall be cancelled and upon payment of any Dividend Cash Amounts the balance in the Participant’s Dividend Cash Account shall be reduced by the amount paid to the Participant pursuant to the foregoing provisions of this Paragraph 4subparagraph 3(b).

Settlement and Payment. Subject to the terms and conditions of this Award Agreement, Restricted Stock Units and associated Dividend Cash Amounts that have become vested in accordance with Paragraph 2 shall be paid and settled as of the applicable Vesting Date. The date on which payment and settlement occurs is referred to as the “Settlement Date.” Unless otherwise provided determined by the Committee in accordance with the terms of the Plan, (a) settlement of the vested Restricted Stock Units on a Settlement Date shall be made in a cash lump sum payment in an amount equal to (i) the fair market value form of a shares of Common Stock with one share of Common Stock (determined as being issued in settlement of the applicable Settlement Date), multiplied by (ii) the number of vested each Restricted Stock Units Unit, plus an amount of cash equal to the Fair Market Value of any fractional Restricted Stock Unit being settled as of such Settlement Date and (b) settlement and payment of the vested Dividend Cash Amounts on a Settlement Date shall be made paid in a cash lump sum payment. Upon the payment and settlement of any vested Restricted Stock Units, 1 Bracketed language to be included at Committee discretion on a grant by grant basis. Units such Restricted Stock Units shall be cancelled and upon payment of any Dividend Cash Amounts the balance in the Participant’s Dividend Cash Account shall be reduced by the amount paid to the Participant pursuant to the foregoing provisions of this Paragraph 4subparagraph (b).

Settlement and Payment. Subject to the terms and conditions of this Award Agreement, Restricted Stock Units and associated Dividend Cash Amounts that have become vested in accordance with Paragraph 2 shall be paid and settled as of the applicable Vesting Date. The date on which payment and settlement occurs is referred to as the “Settlement Date.” Unless otherwise provided determined by the Committee in accordance with the terms of the Plan, (a) settlement of the vested Restricted Stock Units on a Settlement Date shall be made in a cash lump sum payment in the form of an amount of cash equal to (i) the fair market value Fair Market Value of a share of Common Stock (determined for each Restricted Stock Unit being settled as of the applicable such Settlement Date), multiplied plus an amount of cash equal to the 1 Bracketed language to be included at Committee discretion on a grant by (ii) the number grant basis. Fair Market Value of vested any fractional Restricted Stock Units Unit being settled as of such Settlement Date and (b) settlement and payment of the vested Dividend Cash Amounts on a Settlement Date shall be made paid in a cash lump sum payment. Upon the payment and settlement of any vested Restricted Stock Units, Units such Restricted Stock Units shall be cancelled and upon payment of any Dividend Cash Amounts the balance in the Participant’s Dividend Cash Account shall be reduced by the amount paid to the Participant pursuant to the foregoing provisions of this Paragraph 4subparagraph (b).