Common use of Settlement of Awards Clause in Contracts

Settlement of Awards. Except as set forth in Section 3(b), settlement of vested Earned PSUs and vested Total Dividend Equivalent PSUs shall occur within two and one-half (2.5) months following the Scheduled Vesting Date. (The actual date of settlement is hereinafter referred to as the “Settlement Date”). The Company, in its sole discretion, may settle the vested Earned PSUs and vested Total Dividend Equivalent PSUs by either (i) issuing to the Grantee or the Grantee's personal representative a stock certificate representing one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested or (ii) depositing in such Grantee's or the Grantee's personal representative's brokerage account via electronic transfer one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested.

Settlement of Awards. Except as set forth in Section 3(b)) below, settlement of vested Earned PSUs and vested Total Dividend Equivalent PSUs shall occur within two and one-half (2.5) months following the Scheduled Vesting Date. (The actual date of settlement is hereinafter referred to as the “Settlement Date”). The Company, in its sole discretion, may settle the vested Earned PSUs and vested Total Dividend Equivalent PSUs by either (i) issuing to the Grantee or the Grantee's personal representative a stock certificate representing one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested or (ii) depositing in such Grantee's or the Grantee's personal representative's brokerage account via electronic transfer one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested.

Settlement of Awards. Except as set forth in Section 3(b), settlement of vested Earned PSUs and vested Total Dividend Equivalent PSUs shall occur within two and one-half (2.5) months following the Scheduled Vesting Date. (The actual date of settlement is hereinafter referred to as the “Settlement Date”). The Company, in its sole discretion, may settle the vested Earned PSUs and vested Total Dividend Equivalent PSUs by either (i) issuing to the Grantee or the Grantee's ’s personal representative a stock certificate representing one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested or (ii) depositing in such Grantee's ’s or the Grantee's ’s personal representative's ’s brokerage account via electronic transfer one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested.

Settlement of Awards. Except as set forth in Section 3(b), settlement of vested Earned PSUs and vested Total Dividend Equivalent PSUs shall occur within two and one-half (2.5) months following the Scheduled Vesting Date. (The actual date of settlement is hereinafter referred to as the “Settlement Date”). The Company, in its sole discretion, may settle the vested Earned PSUs and vested Total Dividend Equivalent PSUs by either (i) issuing to the Grantee or the Grantee's personal representative a stock certificate representing one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested or (ii) depositing in such Grantee's or the Grantee's personal representative's brokerage account via electronic transfer one share of Common Stock for each Earned PSU that has vested and one share of Common Stock for each Total Dividend Equivalent PSU that has vested.