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 Restricted Stock Units are not otherwise vesting pursuant to Section 3, and (B) that a portion of the Restricted Stock Units shall vest, and the Shares shall be issuable in full without restrictions on transferability, only and to the extent sufficient, if sold at Fair Market Value, on the date of such determination, to provide for the payment of any tax liability in accordance with applicable tax laws. 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 Dates as provided herein (to the extent not previously vested or forfeited as provided herein).

Appears in 4 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 Restricted Stock Units amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest, vest and a portion of the Shares shall be issuable in full without restrictions on transferabilitytransferability and subsequently withheld by Capital One’s designated agent, only and to the extent sufficient, if sold at Fair Market Value, on the date of such determination, to provide for the payment of any tax liability in accordance with applicable tax laws. 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 Dates Date as provided herein (to the extent not previously vested or forfeited as provided herein).

Appears in 2 contracts

Samples: 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 Restricted Stock Units amounts are not otherwise vesting pursuant to this Section 3, and (B) that a portion of the Restricted Stock Units shall vest, vest and a portion of the Shares shall be issuable in full without restrictions on transferabilitytransferability and subsequently withheld by Capital One’s designated agent, only and to the extent sufficient, if sold at Fair Market Value, on the date of such determination, to provide for the payment of any tax liability in accordance with applicable tax laws. 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 Dates as provided herein (to the extent not previously vested or forfeited Date 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.