Common use of Timing and Manner of Payment of Stock Units Clause in Contracts

Timing and Manner of Payment of Stock Units. On or as soon as administratively practical following each vesting of the applicable portion of the total Award pursuant to the terms hereof (and in all events within ninety (90) days after such vesting event), the Corporation shall deliver to the Participant a number of shares of Common Stock (either by delivering one or more certificates for such shares or by entering such shares in book entry form, as determined by the Corporation in its discretion) equal to the number of Stock Units subject to this Award that vest on the applicable vesting date; provided, however, that in the event that the vesting and payment of the Stock Units is triggered by the Participant’s Separation from Service and the Participant is a “specified employee” (within the meaning of Treasury Regulation Section 1.409A-1(i)) on the date of such Separation from Service, the Participant shall not be entitled to any payment of the Stock Units until the earlier of (i) the date which is six (6) months after the Participant’s Separation from Service with the Corporation for any reason other than death, or (ii) the date of the Participant’s death, if and to the extent such delay in payment is required to comply with Section 409A of the Code. The Corporation’s obligation to deliver shares of Common Stock or otherwise make payment with respect to vested Stock Units is subject to the condition precedent that the Participant or other person entitled under the Plan to receive any shares with respect to the vested Stock Units deliver to the Corporation any representations or other documents or assurances that the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. The Participant shall have no further rights with respect to any Stock Units that are paid or that terminate pursuant to Section 7.

Timing and Manner of Payment of Stock Units. On or as soon as administratively practical following each vesting of the applicable portion of the total Award pursuant to the terms hereof (and in all events within ninety seventy four (9074) days after such vesting event), the Corporation shall deliver to the Participant Director a number of shares of Common Stock (either by delivering one or more certificates for such shares or by entering such shares in book entry form, as determined by the Corporation in its discretion) equal to the number of Stock Units subject to this Award that vest on the applicable vesting date; provided, however, that in the event that the vesting and payment of the Stock Units is triggered by the ParticipantDirector’s Separation from Service and the Participant Director is a “specified employee” (within the meaning of Treasury Regulation Section 1.409A-1(i)) on the date of such Separation from Service, the Participant Director shall not be entitled to any payment of the Stock Units until the earlier of (i) the date which is six (6) months after the ParticipantDirector’s Separation from Service with the Corporation for any reason other than death, or (ii) the date of the ParticipantDirector’s death, if and to the extent such delay in payment is required to comply with Section 409A of the CodeCode (and in such case, payment will be made within thirty (30) days after the date specified in clause (i) or (ii), as applicable). The Corporation’s obligation to deliver shares of Common Stock or otherwise make payment with respect to vested Stock Units is subject to the condition precedent that the Participant Director or other person entitled under the Plan to receive any shares with respect to the vested Stock Units deliver to the Corporation any representations or other documents or assurances that required pursuant to Section 8.1 of the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirementsPlan. The Participant Director shall have no further rights with respect to any Stock Units that are paid or that terminate pursuant to Section 78. For purposes of this Agreement, “Separation from Service” has the meaning given to such term for purposes of Section 409A of the Code (which Separation from Service generally will occur on the date the Director ceases to be a member of the Board).

Timing and Manner of Payment of Stock Units. On or as soon as administratively practical following each vesting of the applicable portion of the total Award pursuant to the terms hereof (and in all events within ninety two and one-half (902 ½) days months after such vesting event), the Corporation shall deliver to the Participant a number of shares of Common Stock (either by delivering one or more certificates for such shares or by entering such shares in book entry form, as determined by the Corporation in its discretion) equal to the number of Stock Units subject to this Award that vest on the applicable vesting date; provided, however, that in the event that the vesting and payment of the Stock Units is triggered by the Participant’s 's Separation from Service and the Participant is a “specified employee” (within the meaning of Treasury Regulation Section 1.409A-1(i)) on the date of such Separation from Service, the Participant shall not be entitled to any payment of the Stock Units until the earlier of (i) the date which is six (6) months after the Participant’s 's Separation from Service with the Corporation for any reason other than death, or (ii) the date of the Participant’s 's death, if and to the extent such delay in payment is required to comply with Section 409A of the Code. The Corporation’s 's obligation to deliver shares of Common Stock or otherwise make payment with respect to vested Stock Units is subject to the condition precedent that the Participant or other person entitled under the Plan to receive any shares with respect to the vested Stock Units deliver to the Corporation any representations or other documents or assurances that the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. The Participant shall have no further rights with respect to any Stock Units that are paid or that terminate pursuant to Section 7.

Timing and Manner of Payment of Stock Units. On or as soon as administratively practical following each vesting the termination of the applicable portion of Restricted Period (whether by the total Award pursuant to expiration or earlier termination thereof as provided in paragraph 3) (the terms hereof “Vesting Date”) (and in all events within ninety not later than two and one-half (902 1/2) days months after such vesting event), the Corporation Company shall deliver to the Participant you a number of shares of Common Stock Shares (either by delivering one or more certificates for such shares Shares or by entering such shares Shares in book entry form, as determined by the Corporation Company in its discretion) equal to the number of Restricted Stock Units subject to this Award that vest on the applicable vesting date; providedVesting Date and cash equal to the Dividend Equivalent Rights, howeverless any tax-related items deemed by the Company to be an appropriate charge to you even if technically due by the Company as further set forth in paragraph 9, that in the event that the vesting and payment of the unless such Restricted Stock Units is triggered by the Participant’s Separation from Service and the Participant is a “specified employee” (within the meaning of Treasury Regulation Section 1.409A-1(i)) on the date of such Separation from Service, the Participant shall not be entitled to any payment of the Stock Units until the earlier of (i) the date which is six (6) months after the Participant’s Separation from Service with the Corporation for any reason other than death, or (ii) the date of the Participant’s death, if and terminate prior to the extent such delay in payment is required given Vesting Date pursuant to comply with Section 409A of the Code4. The CorporationCompany’s obligation to deliver shares of Common Stock Shares or otherwise make payment with respect to vested Restricted Stock Units is subject to the condition precedent that the Participant you or other person entitled under the Plan to receive any shares Shares with respect to the vested Restricted Stock Units deliver to the Corporation Company any representations or other documents or assurances that required pursuant to Section 11(a) of the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirementsPlan. The Participant You shall have no further rights with respect to any Restricted Stock Units that are paid or that terminate pursuant to Section 74.