Common use of Timing and Manner of Payment after Vesting of RSUs Clause in Contracts

Timing and Manner of Payment after Vesting of RSUs. (i) No later than two and one-half (21⁄2) months following the end of the Performance Period, the Committee shall determine the actual level of attainment of the Performance Goals for the Performance Period. On the basis of the Committee’s determination, the Committee will determine the number of Performance RSUs eligible to vest as calculated in accordance with the percentile matrix set forth in Schedule A, subject to the Committee’s Negative Discretion and rounded down to the nearest whole share. The number of Performance RSUs determined by the Committee to vest through such process shall constitute the number of Performance RSUs in which the Grantee shall vest under this Award.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Diamond Offshore Drilling, Inc.), Restricted Stock Unit Award Agreement (Diamond Offshore Drilling, Inc.)

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Timing and Manner of Payment after Vesting of RSUs. (i) No later than two and one-half (21⁄22 1⁄2) months following the end of the Performance Period, the Committee shall determine the actual level of attainment of the Performance Goals Goal for the Performance Period. On the basis of the Committee’s determination, the Committee will determine the number of Performance RSUs eligible to vest as calculated in accordance with the percentile matrix set forth in Schedule A, subject to the Committee’s Negative Discretion and rounded down to the nearest whole share. The number of Performance RSUs determined by the Committee to be eligible to vest through such process shall constitute the number of Performance RSUs in which the Grantee shall vest under this Award.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Diamond Offshore Drilling, Inc.), Restricted Stock Unit Award Agreement (Diamond Offshore Drilling, Inc.)

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Timing and Manner of Payment after Vesting of RSUs. (i) No Following the end of the Performance Period (but in no event later than two and one-half (21⁄22 1⁄2) months following the end of the Performance Period), the Committee shall determine the actual level of attainment of the Performance Goals Goal for the Performance Period. On the basis of the Committee’s determination, the Committee will determine the number of Performance RSUs eligible to vest as calculated in accordance with the percentile matrix set forth in Schedule A, subject to the Committee’s Negative Discretion and rounded down to the nearest whole shareDiscretion. The number of Performance RSUs determined by the Committee to vest through such process shall constitute the number of Performance RSUs in which the Grantee shall vest under this Award.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Diamond Offshore Drilling Inc)

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