Settlement of Award. The Company shall deliver to the Participant a number of shares of Common Stock equal to the number of vested Award Shares on the Vesting Date (or the date provided pursuant to Exhibit A, if applicable) or as soon as administratively practicable thereafter. 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 (including any applicable employment taxes due in connection with the vesting of the Award on or prior to the settlement date), unless the Plan administrator is notified in advance of the Award settlement (or the Award vesting, if applicable) and the Participant elects another method for tax withholding.
Appears in 10 contracts
Samples: Restricted Stock Unit Award Agreement (Travelers Companies, Inc.), Restricted Stock Unit Award Agreement (Travelers Companies, Inc.), Restricted Stock Unit Award Agreement (Travelers Companies, Inc.)
