Vesting Date Payment Sample Clauses

Vesting Date Payment. Subject to all the terms and conditions set forth in this Agreement and the Plan including, without limitation, the vesting conditions, the Company shall issue to the Grantee the number of Shares of Stock that is equal to the number of Vested Units within sixty (60) days after the Vesting Date. The Grantee shall pay to the Company, or make provision satisfactory to the Company for payment of, any federal, state, local or foreign taxes required by law to be withheld in connection with the Award, no later than the date on which such withholding is required under applicable law. The Company shall have no obligation to deliver Shares of Stock until the tax withholding obligations of the Company have been satisfied by the Grantee.
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Vesting Date Payment. Subject to all the terms and conditions set forth in this Agreement and the Plan including, without limitation, the vesting conditions, the Company shall pay to the Grantee a lump sum cash payment equal to the product of the Fair Market Value of a Share of the Company’s Stock, multiplied by the number of Vested Units within sixty (60) days after the Vesting Date. The Grantee shall pay to the Company, or make provision satisfactory to the Company for payment of, any federal, state, local or foreign taxes required by law to be withheld in connection with the Award, no later than the date on which such withholding is required under applicable law. The Company shall have no obligation to deliver payment until the tax withholding obligations of the Company have been satisfied by the Grantee.
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Vesting Date Payment. Subject to all the terms and conditions set forth in this Agreement and the Plan including, without limitation, the vesting and forfeiture conditions, the Company shall pay to the Grantee a lump sum cash payment equal to the product of the Grant Date Price or, if greater, the Per Share Price determined as of the applicable Vesting Date, multiplied by the number of any Vested Units within sixty (60) days after the applicable Vesting Date. For the avoidance of doubt, the determination of whether the Grant Date Price or the Per Share Price is greater shall be made as of the applicable Vesting Date and shall apply with respect to such Vesting Date without regard to such determination as of any other Vesting Date, and any such determination with respect to one Vesting Date shall not affect any determination as of any other Vesting Date. Any such payment shall be subject to all applicable tax and other withholdings. The Company shall have no obligation to deliver payment until the tax withholding obligations of the Company have been satisfied by the Grantee.
Sample 1
Vesting Date Payment. The Cash Award shall become vested on the second anniversary of the Grant Date, or, if earlier, the date of the Participant’s employment is terminated by the Company or its affiliate without Cause or due to Disability (as such term is defined in the Company’s long-term disability plan) or death (as applicable, the “Vesting Date”); provided; however, that the Participant remains continuously employed by the Company through the Vesting Date. Notwithstanding the foregoing, if (i) within the two-year period following the Grant Date a “Change in Control” (as such term is defined in the Company’s 2009 Equity Incentive Plan) occurs and (ii) within the one-year period following such Change in Control the Participant’s employment is terminated by the Company or its affiliate without Cause, then the Cash Award shall immediately vest as of the effective date of such termination of the Participant’s employment and such date shall be a Vesting Date. The Company shall pay the Cash Award to the Participant in a lump sum cash payment on the Vesting Date, less the amount of all federal, state and local taxes required to be withheld by the Company, as determined by the Company.
Sample 1

Related to Vesting Date Payment

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Payment after Vesting Any Performance Shares that vest in accordance with paragraphs 3 through 4 will be paid to the Employee (or in the event of the Employee’s death, to his or her estate) in Shares as soon as practicable following the date of vesting, subject to paragraph 9, but in no event later than the applicable two and one-half (2 1/2) month period of the “short-term deferral” rule set forth in the Section 1.409A-1(b)(4) of the Treasury Regulations issued under Section 409A. Notwithstanding the foregoing, if the Performance Shares are “deferred compensation” within the meaning of Section 409A, the vested Performance Shares will be released to the Employee (or in the event of the Employee’s death, to his or her estate) in Shares as soon as practicable following the date of vesting, subject to paragraph 9, but in no event later than the end of the calendar year that includes the date of vesting or, if later, the fifteen (15th) day of the third (3rd) calendar month following the date of vesting (provided that the Employee will not be permitted, directly or indirectly, to designate the taxable year of the payment). Further, if some or all of the Performance Shares that are “deferred compensation” within the meaning of Section 409A vest on account of the Employee’s Termination of Service (other than due to death) in accordance with paragraphs 3 through 4, the Performance Shares that vest on account of the Employee’s Termination of Service will not be considered due or payable until the Employee has a “separation from service” within the meaning of Section 409A. In addition, if the Employee is a “specified employee” within the meaning of Section 409A at the time of the Employee’s separation from service (other than due to death), then any accelerated Performance Shares will be paid to the Employee no earlier than six (6) months and one (1) day following the date of the Employee’s separation from service unless the Employee dies following his or her separation from service, in which case, the Performance Shares will be paid to the Employee’s estate as soon as practicable following his or her death, subject to paragraph 9. Any Performance Shares that vest in accordance with paragraph 5 will be paid to the Employee (or in the event of the Employee’s death, to his or her estate) in Shares in accordance with the provisions of such paragraph, subject to paragraph 9. For each Performance Share that vests, the Employee will receive one Share.

  • PRE-PAYMENT The Tenant shall: (check one)

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Vesting Date All remaining shares of Restricted Stock will become vested on the Vesting Date.

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Timing of Severance Payments Any severance payment to which Employee is entitled under Sections 3(a)(i)(1), 3(a)(i)(2) and 3(a)(i)(5) shall be paid by the Company to the Employee (or to the Employee's successors in interest pursuant to Section 7(b)) in cash and in full, not later than thirty (30) calendar days following the Termination Date, subject to any delay required under Section 9.

  • Grant Payments All grant payments are requested by submitting a Grant Payment Request. Payment Requests and supporting documentation must be submitted on the DOS Grants System at xxxxxxxxx.xxx. The total grant award shall not exceed $[award], which shall be paid by the Division in consideration for the Grantee’s minimum performance as set forth by the terms and conditions of this Agreement. The grant payment schedule is outlined below: a. All payments will be made in the amounts identified with the Deliverables in Section 1 of this Agreement. b. All payments will be made in accordance with the completion of those Deliverables.

  • Change in Control Payment The provisions of this Section 5 set forth certain terms of an agreement reached between the Executive and the Company regarding the Executive’s rights and obligations upon the occurrence of a Change in Control of the Company. These provisions are intended to assure and encourage in advance the Executive’s continued attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of any such event. These provisions shall apply in lieu of, and expressly supersede, the provisions of Section 4(b) regarding severance pay and benefits upon a termination of employment, if such termination of employment occurs within 12 months after the occurrence of the first event constituting a Change in Control. These provisions shall terminate and be of no further force or effect beginning 12 months after the occurrence of a Change in Control.

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