Settlement and Timing of Award Payouts Sample Clauses

Settlement and Timing of Award Payouts. In settlement of its obligations for Awards under this Agreement, the Company shall deliver to the Participant: i) one share of Common Stock for each Performance Share earned as determined in accordance with the provisions of this Agreement (with fractional shares of Common Stock rounded up to the nearest whole share); ii) an amount in cash representing the dividend equivalents as computed in accordance with subsection c.; and iii) an amount in cash representing any other sums due under this Agreement. Settlement shall be made prior to the last day in February in the calendar year following the last calendar year to occur in each Performance Cycle, provided that settlement shall occur no later than 60 days following any completion of a Performance Cycle other than on the last day of a calendar year. For any Participant who is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code who is entitled to a payment under the circumstances described in subsection e. iii. or subsection e. iv. below that constitutes deferred compensation subject to Section 409A, settlement shall be made upon the later of (a) the settlement date that otherwise applies under the preceding sentence or (b) the date that is six months after the date that the Participant terminates employment with the Company or, if earlier, the Participant’s date of death. For payouts made under the eligibility conditions set forth in subsection e. ii. involving a Change in Control, in subsection e. iii. or subsection e. iv, simple interest shall accrue and be paid in cash based on the Fair Market Value at the time of payment of the Award so determined under the applicable clause, calculated from the effective date of the Change of Control to the date of payment and based on the applicable federal “short-term rate” determined under Section 1274(d) of the Code in effect on the date the Change in Control occurs.

Settlement and Timing of Award Payouts. In settlement of its obligations for Awards under this Agreement, the Company shall deliver to the Participant: i) one share of Common Stock for each Performance Share earned as determined in accordance with the provisions of this Agreement (with fractional shares of Common Stock rounded up to the nearest whole share); ii) an amount in cash representing the dividend equivalents as computed in accordance with subsection c.; and iii) an amount in cash representing any other sums due under this Agreement.