Common use of Vesting Schedule Upon Becoming Subject to Withholding Clause in Contracts

Vesting Schedule Upon Becoming Subject to Withholding. (i) Unless otherwise determined by the Committee or the independent members of the Board of Directors, as applicable, and to the extent permitted or required by law, Capital One may determine, in its sole discretion, (A) that you have become subject to withholding under applicable tax laws at a time when amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest and become payable, only and to the extent sufficient on the date of such determination (the “Determination Date”), to provide for the payment of any tax liability in accordance with applicable tax laws, in an amount equal to the product of (i) the Fair Market Value of the Common Stock for the Determination Date and (ii) the number of Restricted Stock Units vesting on the Determination Date. The number of Restricted Stock Units vesting pursuant to the preceding sentence shall be rounded up to the nearest whole Restricted Stock Unit. It is understood that the remaining portion of the Restricted Stock Units shall continue to vest on the Vesting Date as provided herein (to the extent not previously vested or forfeited as provided herein).

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Capital One Financial Corp), Restricted Stock Unit Award Agreement (Capital One Financial Corp), Restricted Stock Unit Award Agreement (Capital One Financial Corp)

AutoNDA by SimpleDocs

Vesting Schedule Upon Becoming Subject to Withholding. (i) Unless otherwise determined by the Committee or the independent members of the Board of Directors, as applicable, and to the extent permitted or required by law, Capital One may determine, in its sole discretion, (A) that following you have become becoming subject to withholding under applicable tax laws at a time when amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest and become payable, only and to the extent sufficient on the date of such determination (the “Determination Date”), to provide for the payment of any tax liability in accordance with applicable tax laws, in an amount equal to the product of (i) the Fair Market Value of the Common Stock for the Determination Date and (ii) the number of Restricted Stock Units vesting on the Determination Date. The number of Restricted Stock Units vesting pursuant to the preceding sentence shall be rounded up to the nearest whole Restricted Stock Unit. It is understood that the remaining portion of the Restricted Stock Units shall continue to vest on the Scheduled Vesting Date Dates as provided herein (to the extent not previously vested or forfeited as provided herein).

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Capital One Financial Corp), Restricted Stock Unit Award Agreement (Capital One Financial Corp), Restricted Stock Unit Award Agreement (Capital One Financial Corp)

Vesting Schedule Upon Becoming Subject to Withholding. (i) Unless otherwise determined by the Committee or the independent members of the Board of Directors, as applicable, and to the extent permitted or required by law, Capital One may determine, in its sole discretion, (A) that following you have become becoming subject to withholding under applicable tax laws at a time when amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest and become payable, only and to the extent sufficient on the date of such determination (the “Determination Date”), to provide for the payment of any tax liability in accordance with applicable tax laws, in an amount equal to the product of (i) the Fair Market Value of the Common Stock for the Determination Date and (ii) the number of Restricted Stock Units vesting on the Determination Date. The number of Restricted Stock Units vesting pursuant to the preceding sentence shall be rounded up to the nearest whole Restricted Stock Unit. It is understood that the remaining portion of the Restricted Stock Units shall continue to vest on the Vesting Date as provided herein (to the extent not previously vested or forfeited as provided herein).

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Capital One Financial Corp), Restricted Stock Unit Award Agreement (Capital One Financial Corp), Restricted Stock Unit Award Agreement (Capital One Financial Corp)

Vesting Schedule Upon Becoming Subject to Withholding. (i) Unless otherwise determined by the Committee or the independent members of the Board of Directors, as applicable, and to the extent permitted or required by law, Capital One may determine, in its sole discretion, (A) that following you have become becoming subject to withholding under applicable tax laws at a time when amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest and become payable, only and to the extent sufficient on the date of such determination (the “Determination Date”), to provide for the payment of any tax liability in accordance with applicable tax laws, in an amount equal to the product of (i) the Fair Market Value of the Common Stock for the Determination Date and (ii) the number of Restricted Stock Units vesting on the Determination Date. The number of Restricted Stock Units vesting pursuant to the preceding sentence shall be rounded up to the nearest whole Restricted Stock Unit. It is understood that the remaining portion of the Restricted Stock Units shall continue to vest on the Vesting Date as provided herein (to the extent not previously vested or forfeited as provided herein).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Capital One Financial Corp)

AutoNDA by SimpleDocs

Vesting Schedule Upon Becoming Subject to Withholding. (i) Unless otherwise determined by the Committee or the independent members of the Board of Directors, as applicable, and to the extent permitted or required by law, Capital One may determine, in its sole discretion, (A) that following you have become becoming subject to withholding under applicable tax laws at a time when amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest and become payable, only and to the extent sufficient on the date of such determination (the “Determination Date”), to provide for the payment of any tax liability in accordance with applicable tax laws, in an amount equal to the product of (i) the Fair Market Value of the Common Stock for the Determination Date and (ii) the number of Restricted Stock Units vesting on the Determination Date. The number of Restricted Stock Units vesting pursuant to the preceding sentence shall be rounded up to the nearest whole Restricted Stock Unit. It is understood that the remaining portion of the Restricted Stock Units shall continue to vest on the Scheduled Vesting Date as provided herein (to the extent not previously vested or forfeited Dates as provided herein).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Capital One Financial Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.