Common use of Settlement and Transfer of Shares Clause in Contracts

Settlement and Transfer of Shares. This Award shall be settled by the Company by the issuance of Shares on the Termination Date and delivery of such Shares on the following business day to the Grantee (or if applicable, the Beneficiaries of the Grantee). Any issuance of Shares shall be made only in whole Shares, and any fractional shares shall be distributed in an equivalent cash amount.

Settlement and Transfer of Shares. This Award shall be settled by the Company by the issuance of Shares on the Termination Date Vesting Dates (each a “Settlement Date”) and delivery of such Shares on the following business day to the Grantee (or if applicable, the Beneficiaries of the Grantee). Any issuance of Shares shall be made only in whole Shares, and any fractional shares shall be distributed in an equivalent cash amount.