Common use of Value of Shares Clause in Contracts

Value of Shares. The value of Xxxx Atlantic stock or Phantom --------------- Shares shall be determined as follows: (i) for purposes of Section 6(a) of this Agreement, such value shall be the average of the high and low sale prices of Xxxx Atlantic stock on the New York Stock Exchange ("NYSE") on the applicable dividend payment date; (ii) for purposes of Section 6(b) of this Agreement, such value shall be the greater of (A) the average of the high and low sale prices of Xxxx Atlantic stock on the NYSE on June 1, 2001, or (B) the average of the daily high and low sale prices of Xxxx Atlantic stock on the NYSE for the period of twenty trading days ending on June 1, 2001, or the period of twenty trading days immediately preceding June 1, 2001 if the NYSE is closed on that date; and (iii) for purposes of Section 7(c)(iii) of this Agreement, such value shall be determined in the manner described in clause (ii) above, except that the Key Executive's separation date shall be used instead of June 1, 2001.

Appears in 2 contracts

Samples: Employment Agreement (Bell Atlantic Corp), Employment Agreement (Bell Atlantic Corp)

AutoNDA by SimpleDocs

Value of Shares. The value of Xxxx Atlantic stock or Phantom --------------- Shares shall be determined as follows: (i) for purposes of Section 6(a) of this Agreement, such value shall be the average of the high and low sale prices of Xxxx Atlantic stock on the New York Stock Exchange ("NYSE") on the applicable dividend payment date; (ii) for purposes of Section 6(b) of this Agreement, such value shall be the greater of (A) the average of the high and low sale prices of Xxxx Atlantic stock on the NYSE on June 1, 2001the applicable payment date, or (B) the average of the daily high and low sale prices of Xxxx Atlantic stock on the NYSE for the period of twenty trading days ending on June 1, 2001the applicable payment date, or the period of twenty trading days immediately preceding June 1, 2001 the applicable payment date if the NYSE is closed on that date; and (iii) for purposes of Section 7(c)(iii) of this Agreement, such value shall be determined in the manner described in clause (ii) above, except that the Key Executive's separation date shall be used instead of June 1, 2001the payment dates specified in Section 6(b).

Appears in 1 contract

Samples: Employment Agreement (Bell Atlantic Corp)

Value of Shares. The value of Xxxx Atlantic stock or Phantom Shares --------------- Shares shall be determined as follows: (i) for purposes of Section 6(a) of this Agreement, such value shall be the average of the high and low sale prices of Xxxx Atlantic stock on the New York Stock Exchange ("NYSE") on the applicable dividend payment date; (ii) for purposes of Section 6(b) of this Agreement, such value shall be the greater of (A) the average of the high and low sale prices of Xxxx Atlantic stock on the NYSE on June 1, 2001, or (B) the average of the daily high and low sale prices of Xxxx Atlantic stock on the NYSE for the period of twenty trading days ending on June 1, 2001, or the period of twenty trading days immediately preceding June 1, 2001 if the NYSE is closed on that date; and (iii) for purposes of Section 7(c)(iii) of this Agreement, such value shall be determined in the manner described in clause (ii) above, except that the Key Executive's separation date shall be used instead of June 1, 2001.

Appears in 1 contract

Samples: Employment Agreement (Bell Atlantic Corp)

AutoNDA by SimpleDocs

Value of Shares. The value of Xxxx Atlantic stock or Phantom --------------- Shares shall be determined as follows: (i) for purposes of Section 6(a5(a) of this Agreement, such value shall be the average of the high and low sale prices of Xxxx Atlantic stock on the New York Stock Exchange ("NYSE") on the applicable dividend payment date; (ii) for purposes of Section 6(b5(b) of this Agreement, such value shall be the greater of (A) the average of the high and low sale prices of Xxxx Atlantic stock on the NYSE on June 1, 2001, or (B) the average of the daily high and low sale prices of Xxxx Atlantic stock on the NYSE for the period of twenty trading days ending on June 1, 2001, or the period of twenty trading days immediately preceding June 1, 2001 if the NYSE is closed on that date; and (iii) for purposes of Section 7(c)(iii6(c)(iii) of this Agreement, such value shall be determined in the manner described in clause (ii) above, except that the Key Executive's separation date shall be used instead of June 1, 2001.

Appears in 1 contract

Samples: Employment Agreement (Bell Atlantic Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!