Settlement of Restricted Units. Subject to Section 10 below, the Executive shall be entitled to have the restrictions removed from his Unit certificate(s) as to the number of Restricted Units that become Vested Units on any given Vesting Date or any date of accelerated vesting pursuant to Sections 3(a), 3(c) or 3(d) above, so that the Executive then holds an unrestricted Unit.
Settlement of Restricted Units. Except in the event of earlier vesting pursuant to Section 3 or 6 of this Agreement, on a Vesting Date, or if a Vesting Date is not a business day, on the next business day following such Vesting Date, the Company shall issue, or cause the Company’s stock transfer agent to issue, in the name of the Grantee, a stock certificate, or, in lieu of such a certificate, record an electronic book entry position, representing the number of shares of Common Stock into which the Restricted Units (and any additional Restricted Units issued pursuant to Section 2 of this Agreement, if any) are to be settled in accordance with this Agreement. Each date that shares of Common Stock issuable in settlement of Restricted Units awarded hereunder are issued to the Grantee (including, any date earlier than a Vesting Date pursuant to Section 3 or Section 6) is referred to herein as a “Settlement Date”. Until shares of the Company’s Common Stock are delivered to the Grantee in settlement of the Restricted Units (and any additional Restricted Units issued pursuant to Section 2 of this Agreement, if any) on a Settlement Date, the Grantee shall have none of the rights of a stockholder of the Company with respect to such shares of the Company’s Common Stock issuable in settlement of the Restricted Units (and any additional Restricted Units, issued pursuant to Section 2 of this Agreement, if any), including the right to vote such shares. The Grantee’s rights with respect to distributions or dividends declared or paid on the Common Stock prior to the issuance of the shares of Common Stock in accordance with this Section 1(c) are set forth in Section 2 of this Agreement.
Settlement of Restricted Units. On or as soon as reasonably practicable following the date on which the Restricted Units have become Vested (but no later than 30 days thereafter), OraSure shall issue to Participant one share of OraSure common stock in settlement of each such Vested Restricted Unit (in accordance with the vesting schedule set forth in Section 2.2). The terms of this Agreement, including, but not limited to, the number of such Restricted Units which shall become Vested in accordance with this Agreement and the shares of common stock underlying the Restricted Units, shall be subject to adjustment pursuant to Section 14.2 of the Plan
Settlement of Restricted Units. Subject to the terms, conditions and restrictions of the Plan and this Agreement, if you are actively employed by Prudential or any of its direct or indirect subsidiaries (collectively, the “Company Group”) as of a Payment Date, you will receive a number of shares of Common Stock corresponding to the vested percentage of Restricted Units on such Payment Date or as soon as administratively practicable (but not later than 90 days) thereafter, except as otherwise provided in this Agreement or the Plan.
Settlement of Restricted Units. The Participant shall be entitled to settlement of the Restricted Units covered by this Agreement at the time that the Restricted Period ends with respect to such Restricted Units pursuant to this Agreement. Subject to Section 14, such settlement shall be made as promptly as practicable thereafter (and in any event within 75 days of the termination or expiration of the Restricted Period) through, in the sole discretion of the Committee, either (a) the issuance to the Participant (or to the executors or administrators of Participant’s estate in the event of the Participant’s death) of a stock certificate (or evidence such Shares have been registered in book entry form in the name of the Participant with the relevant stock agent) for a number of Shares equal to the number of such vested Restricted Units, or (b) a payment of cash to the Participant (or to the executors or administrators of Participant’s estate in the event of the Participant’s death) equal to the Fair Market Value of the Shares that would otherwise have been issued pursuant to (a) above; provided, that if the termination of the Restricted Period results from a Section 409A Change in Control Event, then notwithstanding the foregoing, the Shares (or cash) shall be paid within 30 days of the Section 409A Change in Control Event. Upon the settlement of the Restricted Units, the Participant’s Unit Account shall be eliminated. Notwithstanding the provisions of this Section, if the Restricted Units have been transferred in accordance with the provisions of Section 5 prior to the settlement of the Restricted Units in accordance with this Section, then the issuance of the Shares or the payment of cash in lieu thereof shall be made to the transferee(s).
Settlement of Restricted Units. As soon as practicable following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 with the Securities and Exchange Commission, but in no event later than March 15, 2013, and subject to the requirements of Section 12 hereof, the Company shall issue, or cause the Company’s stock transfer agent to issue, in the name of the Grantee, a stock certificate representing the number of shares of Restricted Stock to which the Grantee is entitled in accordance with Section 1(a) hereof.
Settlement of Restricted Units. To the extent that the Period of Restriction terminates with respect to any Restricted Units as determined by the Committee, such Restricted Units shall be settled as soon as reasonably practicable following the termination of the Period of Restriction and no later than 2 1/2 months following the end of the calendar year in which the termination occurs. The Company shall settle such Restricted Units in the form of Shares which shall be delivered to Grantee (or, if applicable, to Grantee's legal representatives, beneficiaries or heirs) through the Direct Registration System or Electronic Share Transfer. The Company may postpone the issuance or delivery of the Shares until: (a) the completion of registration or other qualification of such Shares or transaction under any state or federal law, rule or regulation, or any listing on any securities exchange, as the Company shall determine to be necessary or desirable; (b) the receipt by the Company of such written representations or other documentation as the Company deems necessary to establish compliance with all applicable laws, rules and regulations, including applicable federal and state securities laws and listing requirements, if any; and (c) the payment to the Company of any amount required by the Company to satisfy any federal, state or other governmental withholding tax requirements related to the issuance or delivery of the Shares. Grantee shall comply with any and all legal requirements relating to Xxxxxxx's resale or other disposition of any Shares acquired under this Agreement. However, all or a portion of the Restricted Units shall be credited to, and thereafter treated as property under the Base Salary Deferral Plan to the extent that Grantee makes a valid deferral election for such Restricted Units pursuant to the terms of the Base Salary Deferral Plan. Such deferral election must be made in accordance with procedures established by the Company by the date determined by the Company, and no later than the earlier of: (a) the thirtieth (30th) day following the Grant Date; and (b) six months before the end of the Three Year Performance Period. Any Restricted Units credited to the Base Salary Deferral Plan shall remain in the form of Restricted Units until the time of distribution specified under applicable deferral election and shall otherwise be maintained and administered under the terms of the Base Salary Deferral Plan to the extent not otherwise determined in this Agreement. The deferred payment...
Settlement of Restricted Units. The Company shall deliver to the Director (or, if applicable, to the Director’s beneficiary) that number of Shares equal to the number of Restricted Units granted under this Agreement (including additional Restricted Units credited in respect of Divided Equivalents) for which the Period of Restriction has previously expired or expires in connection with any event enumerated in this Section 6, as soon as practicable following the earlier to occur of (i) the Director’s separation from service as a director of the Company, (ii) the date the Director becomes disabled (as defined in Section 409A(a)(2)(C) of the Code), (iii) the Director’s death, (iv) a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets (as such terms are defined in Section 409A(a)(2)(a)(v) of the Code and the interpretive guidance thereunder), or (v) the date, if any, set forth on the signature page hereto.
Settlement of Restricted Units. Except as otherwise provided below in Section 4.2, Vested Restricted Units shall be settled on December 31, 2007 (the “Settlement Date”), subject to the Grantee remaining actively employed by the Company or a member of the Company Group on such date. Subject to Sections 4.3, 4.4, 4.5 and 4.6, as soon as reasonably practicable following the Settlement Date, the Company shall transfer to the Grantee, in full and complete satisfaction of the obligations of the Company and the Company Group and the rights of the Grantee in respect of such Award of Restricted Units, a stock certificate, registered in the name of the Grantee, for a number of Settlement Shares equal to the number of Restricted Units that are Vested and outstanding as of the Settlement Date.
Settlement of Restricted Units. To the extent that the Period of Restriction terminates with respect to any Restricted Units as determined by the Committee, such Restricted Units shall be settled as soon as reasonably practicable following the termination of the Period of Restriction and no later than 2 1/2 months following the end of the calendar year in which the termination occurs. The Company shall settle such Restricted Units in the form of Shares which shall be delivered to Grantee (or, if applicable, to Grantee's legal representatives, beneficiaries or heirs) through the Direct Registration System or Electronic Share Transfer. The Company may postpone the issuance or delivery of the Shares until: (a) the completion of registration or other qualification of such Shares or transaction under any state or federal law, rule or regulation, or any listing on any securities exchange, as the Company shall determine to be necessary or desirable; (b) the receipt by the Company of such written representations or other documentation as the Company deems necessary to establish compliance with all applicable laws, rules and regulations, including applicable federal and state securities laws and listing requirements, if any; and (c) the payment to the Company of any amount required by the Company to satisfy any federal, state or other governmental withholding tax requirements related to the issuance or delivery of the Shares. Grantee shall comply with any and all legal requirements relating to Xxxxxxx's resale or other disposition of any Shares acquired under this Agreement.
