Common use of Settlement of Vested RSUs Clause in Contracts

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.

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 (iiiSection 2(d) 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 or used for withholding taxes in accordance with this Section 2(d)) hereof. 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.

Settlement of Vested RSUs. (i) Any Restricted Stock Units that become Vested RSUs shall be settled settled, solely in cash, as soon as administratively practicable after the date such Restricted Stock Units become Vested RSUs. Notwithstanding any provision in this Agreement to the contrary, no shares of the Company’s common stock, or any other securities of the Company, shall be issued in settlement of any Restricted Stock Units. Subject to the provisions of Sections Section 2(d)(ii) and (iii) below), Restricted Stock Units shall be settled by the Exhibit 10.1 Company by delivering a paying the Recipient an amount equal to (A) the number of shares Vested RSUs multiplied by (“Shares”B) the unweighted average of the closing prices of the Company’s common stock, par value $1.00 per share, to stock on the Recipient equal to Company’s Principal Stock Exchange (as defined below) for the number of 20 trading days immediately preceding the date on which such Restricted Stock Units become 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 payment 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 Company’s common stock or any other rights or interests in the Vested RSUs which that are settled in accordance with this Section 2(d). Notwithstanding anything herein to the contrary, the Company has no obligation to deliver any Shares make the payment prescribed by this Section 2(d) if counsel to the Company determines that such delivery payment 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 Sharesmake such payment.

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 Section 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 paying Recipient an amount equal to the number of Vested RSUs. The Company may issue RSUs times the Shares either in certificated or uncertificated form registered in the name average closing price of the RecipientCompany’s common stock for the most recent twenty days on which any securities exchange or association upon which the Company’s common stock is listed or quoted is open for trading prior to the date on which the Restricted Stock Units vest. Delivery of the Shares payment 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 Company’s common stock or any other 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 make the payment prescribed by this Section 2(d) if counsel to the Company determines that such delivery payment 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 Sharesmake such payment.

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 Section 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 paying Recipient an amount equal to the number of Vested RSUs. The Company may issue RSUs times the Shares either in certificated or uncertificated form registered Fair Market Value, as defined in the name Plan, of the RecipientCompany’s common stock on the date on which the Restricted Stock Units vest. Delivery of the Shares payment 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 Company’s common stock or any other 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 make the payment prescribed by this Section 2(d) if counsel to the Company determines that such delivery payment 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 Sharesmake such payment.