Common use of Shares Payable Clause in Contracts

Shares Payable. The number of Shares payable is equal to the result of multiplying the total number of Performance Share Units awarded by the Performance Unit Payout Percentage. The number of Shares of Common Stock payable will be rounded down to the nearest Share. No fractional Shares of Common Stock will be issued pursuant to this Agreement.

Shares Payable. The number of Shares payable is equal to the result of multiplying the total number of Performance Share Units awarded by the Performance Unit Payout Percentage. The number of Shares shares of Common Stock payable will be rounded down to the nearest Shareshare. No fractional Shares shares of Common Stock will be issued pursuant to this Agreement.