Common use of Timing of Settlement Clause in Contracts

Timing of Settlement. Subject to Section 6(a), any Earned PRSUs that become vested on the Vesting Date shall be settled into an equal number of shares of Company Common Stock on a date selected by the Company that is on or within 30 days following the date of the Administrator’s certification of achievement of the Performance Goals for the applicable Performance Period(s) that include the Vesting Date, but not later than March 15th of the calendar year immediately following the Vesting Date (each such date, a “Settlement Date”); provided, that, in the case of accelerated vesting of PRSUs pursuant to Section 2(b)(i), 2(b)(ii), 2(b)(iii) or 2(c) (but, for PRSUs that are subject to Section 409A of the Code, only if permitted by Section 409A of the Code), the Settlement Date shall occur on a date selected by the Company that is within 30 days following the vesting of such PRSUs.

Appears in 4 contracts

Samples: Employee Performance Based Restricted Stock Unit Agreement (Univar Solutions Inc.), Employee Performance Based Restricted Stock Unit Agreement (Univar Inc.), Employee Performance Based Restricted Stock Unit Agreement (Univar Inc.)

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Timing of Settlement. Subject to Section 6(a), any Earned PRSUs that become vested on the Vesting Date shall be settled into an equal number of shares of Company Common Stock on a date selected by the Company that is on or within 30 days following the date of the Administrator’s certification of achievement of the Performance Goals for the applicable Performance Period(s) that include the Vesting Date, but not later than March 15th of the calendar year immediately following the Vesting Date (each such date, a “Settlement Date”); provided, that, in the case of accelerated vesting of PRSUs pursuant to Section 2(b)(i), 2(b)(ii), 2(b)(iii) or 2(c) (but, for PRSUs that are subject to Section 409A of the Code, only if permitted by Section 409A of the Code), the Settlement Date shall occur on a date selected by the Company that is within 30 days following the vesting of such PRSUs.

Appears in 2 contracts

Samples: Employee Performance Restricted Stock Unit Agreement (Univar Inc.), Employee Performance Restricted Stock Unit Agreement (Univar Inc.)

Timing of Settlement. Subject to Section 6(a), any Earned PRSUs that become vested on the Vesting Date shall be settled into an equal number of shares of Company Common Stock on a date selected by the Company that is on or within 30 days following the date of the Administrator’s certification of achievement of the Performance Goals for the applicable Performance Period(s) that include the Vesting Date, but not later than March 15th of the calendar year immediately following the Vesting Date (each such date, a “Settlement Date”); provided, that. Notwithstanding the foregoing, in the case of accelerated vesting of PRSUs pursuant to Section 2(b)(i), 2(b)(ii), 2(b)(iii) or 2(c) (but, for PRSUs that are subject to Section 409A of the Code, only if permitted by Section 409A of the Code), the Settlement Date shall occur on a date selected by the Company that is within 30 days following the vesting of date upon which such PRSUs became Vested PRSUs.

Appears in 2 contracts

Samples: Employee Performance Based Restricted Stock Unit Agreement (Univar Solutions Inc.), Employee Performance Based Restricted Stock Unit Agreement (Univar Solutions Inc.)

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Timing of Settlement. Subject to Section 6(a), any Earned PRSUs that become vested on the Vesting Date shall be settled into an equal number of shares of Company Common Stock Shares on a date selected by the Company that is on or within 30 days following the Vesting Date (or on such later date of the AdministratorCommittee’s certification of achievement of the Performance Goals for the applicable Performance Period(s) that include the Vesting DatePeriod ended December 31, 20__), but not in no event later than March 15th the end of the calendar year immediately following that includes the Vesting Date (each such date, a “Settlement Date”); provided, that. Notwithstanding the foregoing, in the case of accelerated vesting of PRSUs pursuant to Section 2(b)(i), 2(b)(ii), 2(b)(iii) or 2(c) (but, for PRSUs that are subject to Section 409A of the Code, only if permitted by Section 409A of the Code), the Settlement Date shall occur on a date selected by the Company that is within 30 days following the vesting of date upon which such PRSUs became Vested PRSUs.

Appears in 1 contract

Samples: Employee Performance Based Restricted Stock Unit Agreement (Univar Solutions Inc.)

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