Settlement of Vested RSUs. RSUs subject to an Award shall be settled pursuant to the terms of the Plan as soon as reasonably practicable following the vesting thereof, but in no event later than March 15 of the calendar year following the calendar year in which the RSUs vest.
Settlement of Vested RSUs. To the extent the RSUs become vested pursuant to the terms of this Award Agreement, the Company will issue and deliver to you, or, as applicable, your Beneficiary or the personal representative of your estate, the number of Shares equal to the number of vested RSUs. Such delivery of Shares will occur within the settlement period set forth in the table below, which will vary depending on the applicable vesting event.
Settlement of Vested RSUs. (i) Any Restricted Stock Units that become Vested RSUs shall be settled as soon as administratively practicable after the date such Restricted Stock Units become Vested RSUs. Subject to the provisions of Sections 2(d)(ii) and (iii) below, Restricted Stock Units shall be settled by the Company by delivering a number of shares (“Shares”) of the Company’s common stock, par value $1.00 per share, to the Recipient equal to the number of Vested RSUs. The Company may issue the Shares either in certificated or uncertificated form registered in the name of the Recipient. Delivery of the Shares may be made to the Recipient in person at the Company’s home office or to the Recipient’s last address reflected in the records of the Company. Neither the Recipient nor any of the Recipient’s successors, heirs, assigns or personal representatives shall have any further rights or interests in the Vested RSUs which are settled in accordance with this Section 2(d). Notwithstanding anything herein to the contrary, the Company has no obligation to deliver any Shares if counsel to the Company determines that such delivery would violate any applicable law or any rule or regulation of any governmental authority or any rule or regulation of, or agreement of the Company with, any securities exchange or association upon which the Company’s common stock is listed or quoted. The Company shall in no event be obligated to take any affirmative action to comply with any such law, rule, regulation or agreement in order to cause the delivery of Shares.
(ii) Recipient may elect to have all or a specified portion of the Vested RSUs settled and converted to cash by completing, signing and delivering to the Company a “Settlement Option Notice,” as described herein, in the manner and by the deadline prescribed by the Settlement Option Notice. The Company shall provide Recipient a Settlement Option Notice prior to the settlement of any Vested RSUs. The Settlement Option Notice will provide options for Recipient to elect to receive all or certain portions specified in the Settlement Option Notice of the Vested RSUs in cash. Vested RSUs converted to cash as described in this Section 2(d) will be converted at Fair Market Value, as defined in the Plan, on the date on which the Restricted Stock Units vest.
(iii) Unless the Recipient provides otherwise in the Settlement Option Notice, the Company shall withhold all federal taxes, and may withhold any state, local and other taxes, applicable to the vesting...
Settlement of Vested RSUs. Shares of Common Stock underlying a Vested RSU shall be transferred to the Participant as soon as administratively practicable following the applicable Vesting Date, but in no event later than the 15th day of the calendar month following the calendar month in which such Vesting Date occurs. No shares of Common Stock shall be issued to the Participant in respect of an RSU prior to the applicable Vesting Date. After an RSU becomes a Vested RSU, the Company shall promptly cause to be registered in the Participant’s name or in the name of the executor or personal representative of the Participant’s estate, as the case may be, one share of Common Stock in payment for each such Vested RSU. For purposes of this Agreement, the date on which Vested RSUs are converted into shares of Common Stock shall be referred to as the “Settlement Date.”
Settlement of Vested RSUs. Shares of Common Stock underlying a Vested RSU shall be transferred to the Participant as soon as administratively practicable following the applicable Vesting Date, but in no event later than March 15th of the calendar year following the calendar year in which such Vesting Date occurs or, in the case of a Vesting Date resulting from a Qualifying Termination due to Retirement, no later than December 31 of the calendar year in which such Vesting Date occurs. No shares of Common Stock shall be issued to the Participant in respect of an RSU prior to the applicable Vesting Date. After an RSU becomes a Vested RSU, the Company shall promptly cause to be registered in the Participant’s name or in the name of the executor or personal representative of the Participant’s estate, as the case may be, one share of Common Stock in payment for each such Vested RSU. For purposes of this Agreement, the date on which Vested RSUs are converted into shares of Common Stock shall be referred to as the “Settlement Date.”
Settlement of Vested RSUs. The Company shall deliver to the Participant within sixty (60) days following a Vesting Date, a number of shares of Common Stock equal to the aggregate number of RSUs that have vested pursuant to Section 2(a) ([rounded down to the nearest whole RSU, with cumulative vesting of any fractional RSUs] and reduced by any shares of Common Stock sold or withheld to satisfy tax withholding requirements). No fractional shares of Common Stock shall be delivered. The Company may deliver such shares of Common Stock either through book entry accounts held by, or in the name of, the Participant or cause to be issued a certificate or certificates representing the number of shares of Common Stock to be issued in respect of the RSUs, registered in the name of the Participant.
Settlement of Vested RSUs. As soon as practicable following a Vesting Date with respect to any portion of the RSUs, and in no event more than two and one-half months after such Vesting Date, the Company shall settle such vested RSUs by paying to the Participant an amount that equals the product of (a) and (b), where:
(a) equals the number of RSUs that vest on the Vesting Date; and
(b) equals (i) the Fair Market Value of a Class A Common Share on the Vesting Date, reduced by (ii) the Deemed Conversion Price per RSU. For this purpose, the “Deemed Conversion Price” equals (i) the Offering Price, reduced by (ii) the per share dividends and other distributions, if any, paid by the Company in respect of the Class A Common Shares on and after the Placement Date. Such amount may be settled in cash, in whole Class A Common Shares or in a combination of both, as determined by the Company in its discretion. If Class A Common Shares are used, such shares will be valued as of the Vesting Date and the Participant shall pay to the Company with respect to each such Class A Common Share so used a purchase price per share equal to the par value per share of a Class A Common Share (as of the Grant Date, $0.001 per share). [M-4 RSU (November 2016)]
Settlement of Vested RSUs. As soon as reasonably practicable following the close of the Three-Year Performance Cycle, but no later than seventy-four (74) days thereafter (or, in the event of death occurring before the end of the Three-Year Performance Period, within thirty (30) days following death), the Company shall issue or transfer to the Participant one Common Share in settlement of each Awarded RSU that becomes vested pursuant to this Agreement rounded down to the nearest whole number (each, a “Vested RSU”) (whether by delivery of a Common Share certificate or book entry in the Participant’s name), up to a maximum issuance or transfer of [[•] ([•])] Common Shares (including Common Shares issued in respect of dividend equivalents under Section 6 hereof), and the corresponding Awarded RSU shall be canceled, it being understood that such issuance or transfer shall be subject to the “Six-Month Delay Toggle” (as defined in Section 19 of this Agreement) when applicable. To the extent that more than [[•] ([•])] Awarded RSUs (and dividend equivalents accrued with respect thereto) become Vested RSUs or are otherwise issuable hereunder (the “Excess RSUs”), such Excess RSUs shall be settled as soon as reasonably practicable following the close of the Three-Year Performance Cycle, but no later than seventy-four (74) days thereafter (or, in the event of death occurring before the end of the Three-Year Performance Period, within thirty (30) days following death), by the Company’s payment to the Participant of a cash amount equal to (a) the number of Excess RSUs, multiplied by (b) the Fair Market Value of a Common Share on the date the Committee certifies the number of Awarded RSUs earned hereunder (or, in the event of any accelerated vesting occurring before the end of the Three-Year Performance Period, the date of such accelerated vesting) and the corresponding Excess RSUs shall be canceled, it being understood that such issuance or transfer shall be subject to the “Six-Month Delay Toggle” (as defined in Section 19 of this Agreement) when applicable.
Settlement of Vested RSUs. Upon expiration or termination of the Restricted Period with respect to the RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Common Stock issued in Grantee’s name (or other name(s) designated by Grantee) and a cash payment equal to the dividends that would have been paid to Grantee had Grantee owned such share of Common Stock from the Date of Grant until the vesting date of the underlying RSU (“Accrued Dividend Equivalents”). Grantee’s shares of Common Stock and the cash payment for the Accrued Dividend Equivalents will be delivered to Grantee within ninety (90) days of the vesting date of the underlying RSU.
Settlement of Vested RSUs. The following provision supplements Section 9 (Payment of RSU Awards) of this Equity Award Agreement: Notwithstanding any discretion set forth in the Amended Plan or this Equity Award Agreement, the RSUs will be settled only in shares. The RSUs do not provide any right for you to receive a cash payment in settlement of the RSUs. Any shares received by you upon settlement of the RSUs are accepted by you as a personal investment. If, for any reason, the RSUs vest and become non-forfeitable and shares are issued or transferred to you within six (6) months after the RSU grant, you agree that you will not offer the shares to the public in Hong Kong or otherwise dispose of any such shares prior to the six (6) month anniversary of the RSU date of grant.
