Settlement of Award. The number of performance shares vested (which shall include any additional performance shares credited to the Participant’s account pursuant to Section 6) shall be calculated based on the Performance Shares Vesting Grid set forth in Exhibit B. The Company shall deliver to the Participant, subject to any certification of satisfaction of the performance goal as required by the Plan in order to comply with Section 162(m) of the Internal Revenue Code a number of shares of Common Stock equal to the number of vested performance shares on January 1 of the year following the end of the Performance Period or as soon as administratively practicable thereafter (but no later than March 15 of the year following the end of the Performance Period, or the date provided pursuant to Exhibit A, if applicable). The number of shares of Common Stock delivered to the Participant shall be reduced by a number of shares of Common Stock having a Fair Market Value on the date of delivery equal to the tax withholding obligation.
Appears in 4 contracts
Samples: Performance Shares Award Agreement (Travelers Companies, Inc.), Performance Shares Award Agreement (Travelers Companies, Inc.), Performance Shares Award Agreement (Travelers Companies, Inc.)
Settlement of Award. The number of performance shares Performance Shares vested (which shall include any additional performance shares Performance Shares credited to the Participant’s account pursuant to Section 6) shall be calculated based on the Performance Shares Vesting Grid set forth in Exhibit B. The Company shall deliver to the Participant, subject to any certification of satisfaction of the performance goal as required by the Plan in order to comply with Section 162(m) of the Internal Revenue Code a number of shares of Common Stock equal to the number of vested performance shares Performance Shares on January 1 of the year following the end of the Performance Period or as soon as administratively practicable thereafter (but no later than March 15 of the year following the end of the Performance Period, or the date provided pursuant to Exhibit A, if applicable). The number of shares of Common Stock delivered to the Participant shall be reduced by a number of shares of Common Stock having a Fair Market Value on the date of delivery equal to the tax withholding obligation.
Appears in 4 contracts
Samples: Performance Shares Award Agreement (Travelers Companies, Inc.), Performance Shares Award Agreement (Travelers Companies, Inc.), Performance Shares Award Agreement (Travelers Companies, Inc.)
Settlement of Award. The number of performance shares Performance Shares vested (which shall include any additional performance shares Performance Shares credited to the Participant’s account pursuant to Section 6) shall be calculated based on the Performance Shares Vesting Grid set forth in Exhibit B. The Company shall deliver to the Participant, subject to any certification of satisfaction of the performance goal as required by the Plan in order to comply with Section 162(m) of the Internal Revenue Code Code, a number of shares of Common Stock equal to the number of vested performance shares Performance Shares on January 1 of the year following the end of the Performance Period or as soon as administratively practicable thereafter (but no later than March 15 of the year following the end of the Performance Period), or except as provided in the date provided pursuant to Exhibit A, if applicable)Addendum. The number of shares of Common Stock delivered to the Participant shall be reduced by a number of shares of Common Stock having a Fair Market Value on the date of delivery equal to the tax withholding obligation.
Appears in 1 contract
Samples: Performance Shares Award Agreement (Travelers Companies, Inc.)
Settlement of Award. The number of performance shares Performance Shares vested (which shall include any additional performance shares Performance Shares credited to the Participant’s account pursuant to Section 6) shall be calculated based on the Performance Shares Vesting Grid set forth in Exhibit B. The Company shall deliver to the Participant, subject to any certification of satisfaction of the performance goal as required by the Plan in order to comply with Section 162(m) of the Internal Revenue Code Code, a number of shares of Common Stock equal to the number of vested performance shares Performance Shares on January 1 of the year following the end of the Performance Period or as soon as administratively practicable thereafter (but no later than March 15 of the year following the end of the Performance Period, or except as provided in the date provided pursuant to Exhibit A, if applicableAddendum). The number of shares of Common Stock delivered to the Participant shall be reduced by a number of shares of Common Stock having a Fair Market Value on the date of delivery equal to the tax withholding obligation.
Appears in 1 contract
Samples: Performance Shares Award Agreement (Travelers Companies, Inc.)