Vesting and Settlement of Units Sample Clauses

Vesting and Settlement of Units. (a) Units will vest only if; [Insert Performance Goals for the vesting of RSUs.] If the Performance Goal is met on such Measurement Date, final certification by the Committee will be deemed the “Settlement Date”. (b) As soon as administratively feasible following the Settlement Date, Xcel Energy will pay to the Participant, in shares of Common Stock, an amount equal to the number of Units held on the Settlement Date, with a cash component representing fractional shares. Alternatively, at the discretion of the Committee, Units may be paid to Participants in cash. (c) If the Participant dies prior to payment, and under Section 7(a) above or Section 9 below would otherwise be entitled to receive payment of an award, the Company shall pay the Participant’s designated beneficiary (if under the Plan the Participant has designated a beneficiary in writing delivered to the Xcel Energy Executive Compensation department) or if no beneficiary is designated, to the Participant’s estate the value of the awards. (d) Units are to be valued using the Fair Market Value of a share as defined in the Plan.
Sample 1
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Vesting and Settlement of Units. (a) Subject to continued service with Xcel Energy and except for termination events described in Section 3, __% of the Units will vest on _______, ____ (the “Initial Vesting Date” and the remainder __% of the Units will vest on _______, _____ (the “Final Vesting Date”). (b) As soon as administratively feasible following each the Initial Vesting Date and the Final Vesting Date, Xcel Energy will pay to the Participant, in shares of Common Stock, an amount equal to the number of Units subject to each the Initial Vesting Date and the Final Vesting Date, with a cash component representing fractional shares. Although it is the intent is that upon vesting that shares of Company common stock will be delivered to the Participant, at the discretion of the Committee, Units may be delivered upon vesting, in cash or a combination of cash shares and shares of Company common stock of equivalent value. (c) If the Participant dies prior to payment, and under Section 3 or Section 9 below would otherwise be entitled to receive payment of an award, Xcel Energy shall pay, in cash, the Participant’s designated beneficiary (if under the Plan the Participant has designated a beneficiary in writing delivered to Xcel Energy’s Chief Administrative Officer) or if no beneficiary is designated, to the Participant’s estate the value of the awards. (d) Units are to be valued using the Fair Market Value of a share as defined in the Plan.
Sample 1
Vesting and Settlement of Units. On the earlier of (i) the first anniversary of the Grant Date and (ii) the first day immediately preceding the next annual meeting of the Company’s stockholders following the Grant Date, the Units shall vest and such vested Units shall be paid and settled by the issuance and delivery to you of an equivalent number of Shares; provided, however, that subject to the provisions of Section 4 hereof, no Units shall vest or be settled in Shares unless you are a member of the Board on the Vesting Date. Upon vesting of the Units and distribution of the Shares in settlement thereof, the Company shall maintain in book-entry form for your account such Shares that have been issued in settlement; provided that at the Company’s discretion or upon your request, the Company shall issue to you or your personal representative a stock certificate representing such Shares, free of any restrictions, but subject to Section 7 hereof.
Sample 1
Vesting and Settlement of Units 
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Related to Vesting and Settlement of Units

  • Vesting and Settlement The Restricted Shares shall cease to constitute Restricted Shares, and shall become unrestricted Shares, pursuant to the vesting schedule attached as Exhibit A.

  • Settlement of Units Subject to Section 8 below, as soon as practicable after any date on which Units vest (but no later than the 15th day of the third calendar month following the applicable vesting date), the Company shall cause to be issued and delivered to you (or to your personal representative or your designated beneficiary or estate in the event of your death, as applicable) one Share in payment and settlement of each vested Unit. Delivery of the Shares shall be effected by the issuance of a stock certificate to you, by an appropriate entry in the stock register maintained by the Company’s transfer agent with a notice of issuance provided to you, or by the electronic delivery of the Shares to a brokerage account, and shall be subject to the tax withholding provisions of Section 7 and compliance with all applicable legal requirements as provided in Section 17(c) of the Plan, and shall be in complete satisfaction and settlement of such vested Units. The Company will pay any original issue or transfer taxes with respect to the issue and transfer of Shares to you pursuant to this Agreement, and all fees and expenses incurred by it in connection therewith. If the Units that vest include a fractional Unit, the Company shall round the number of vested Units to the nearest whole Unit prior to issuance of Shares as provided herein.

  • Vesting and Lapse of Restrictions Subject to Sections 2.2(a) and 2.2(c), the Award shall vest and Restrictions shall lapse in accordance with the vesting schedule set forth on the Grant Notice.

  • Vesting of Units For purposes of this Agreement, “Vesting Date” means any date, including the Scheduled Vesting Dates specified in the Vesting Schedule on the cover page of this Agreement, on which Units subject to this Agreement vest as provided in this Section 4.

  • CLOSING AND SETTLEMENT Seller/Landlord shall determine the title company at which settlement shall occur and shall inform Buyer/Tenant of this location in writing. Buyer/Tenant agrees that closing costs in their entirety, including any points, fees, and other charges required by the third-party lender, shall be the sole responsibility of Buyer/Tenant. The only expense related to closing costs apportioned to Seller/Landlord shall be the pro-rated share of the ad valorem taxes due at the time of closing, for which Seller/Landlord is solely responsible.

  • Vesting; Settlement The RSUs shall become vested in accordance with the schedule set forth on the Award Notice. The Company shall deliver to the Participant one share of Common Stock for each RSU (as adjusted under the Plan) which becomes vested in a given calendar year, pursuant to Section 12, below, and such vested RSU shall be cancelled upon such delivery.

  • Equity Trading and Transaction Settlement The equity trading desks execute buy and sell order based on instructions provided by affiliated advisers. The trading staff either places orders electronically or contacts brokers to place orders, find liquidity and seek price levels. Upon completion of a transaction, the transaction settlement group works with the broker and the account custodian to ensure timely and accurate exchange of securities and monies.

  • Vesting and Exercisability (a) Options to purchase 87,500 shares, 43,750 shares and 43,750 shares, respectively, will vest on the first three anniversaries of the Start Date (as defined in the Employment Agreement). (b) If the Employee's employment with the Company terminates for any reason prior to the time that the Option has been fully exercised, the unexercised portion of the Option on the date of termination of employment (whether exercisable or not) shall immediately expire; provided, however, that (i) if the Employee's employment is terminated by reason of the Employee's disability (pursuant to Section 3.3 of the Employment Agreement), all portions of the Option that are vested at the time of termination shall remain exercisable for a period of one year from the date of such termination or until the expiration of the Exercise Period, whichever is shorter; (ii) in the event of the death of the Employee while in the employ of the Company, all portions of the Option that are vested at the time of death shall remain exercisable by the legal representative of the estate or by the legatee of the Employee under the will of the Employee for a period of one year from the date of such death or until the expiration of the Exercise Period, whichever is shorter; and (iii) in the event the Employee is terminated without "Cause" (as defined in the Employment Agreement), or Executive terminates his employment for "Good Reason" (as defined in the Employment Agreement), then the Option shall become fully vested and exercisable and may be exercised for a period of five years from the date of such termination of employment or until the expiration of the Exercise Period, whichever is shorter. (c) The Board of Directors may, in the event the Executive's employment is terminated for Cause (as provided for in the Employment Agreement), annul the Option and, in such event, may require the Executive to return to the Company the economic benefit of any Option Shares purchased hereunder by the Executive within the six month period prior to the date of termination. In such event, the Executive hereby agrees to remit to the Company, in cash, an amount equal to the difference between the fair market value of the Option Shares on the date of termination (or the sales price of such Shares if the Option Shares were sold during such six month period) and the exercise price of such Shares.

  • Vesting and Exercise of Option The Option shall vest and become exercisable during its term in accordance with the following provisions:

  • Purchase of Units On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell to the several Underwriters, severally and not jointly, an aggregate of 20,000,000 units of the Company (the “Firm Units”) at a purchase price (net of discounts and commissions) of $9.80

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