Time and Form of Payment. Subject to satisfaction of tax or similar obligations as provided for in Section 9, any vested Restricted Stock Unit Awards shall be paid by Micro in shares of Common Stock (on a one-to-one basis) within 30 days after the applicable vesting date (which for purposes of this Section 5 includes the date of any accelerated vesting under Section 7 below); provided that such payment is intended to satisfy the short-term deferral exemption under Section 1.409A-1(b)(4) of the Department of Treasury regulations and shall be made not later than 2-½ months after the end of the year in which such vesting date occurs.
Appears in 8 contracts
Samples: Restricted Stock Unit Award Agreement (Ingram Micro Inc), Restricted Stock Unit Award Agreement (Ingram Micro Inc), Restricted Stock Unit Award Agreement (Ingram Micro Inc)
