Examples of Hold Date in a sentence
Restricted Shares are held by the Custodian and remain subject to the restrictions under this Plan and the Award Agreement until the Hold Date.
If a Participant is terminated for Cause all Restricted Shares which have not Vested and all Vested Restricted Shares for which the Hold Date has not occurred will be forfeited.
Restricted Shares are held by the Custodian and remain subject to the restrictions under this Plan until the Hold Date.
When dividends are paid on Shares after the Hold Date, the Participant shall receive the entire amount of the dividend in cash unless the Participant elects, not less than 10 business days prior to the dividend payment date in form acceptable to the Committee, to have the dividend reinvested by the Custodian in additional Shares held by the Custodian pursuant to this Section.
If a Participant is terminated for Cause all Restricted Shares which have not Vested as of the Termination Date and all Vested Restricted Shares for which the Hold Date has not occurred as of the Termination Date will be forfeited as of the Termination Date, and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal.
When dividends are paid on Shares after the Hold Date the Participant shall receive the entire amount of the dividend in cash unless the Participant elects, not less than 10 business days prior to the dividend payment date in form acceptable to the Committee, to have the dividend reinvested by the Custodian in additional Shares held by the Custodian pursuant to this Section.
Dividends paid prior to the Hold Date on Restricted Shares that have Vested under the terms of the Plan shall be used to purchase additional Shares that shall remain subject to the same restrictions (other than Vesting) and other terms and conditions applicable to the associated Vested Restricted Shares and shall be treated as an award of additional Vested Restricted Shares; provided that the Participant may elect to receive cash sufficient to pay income taxes associated with the dividend.
Awards granted to executives under the Restricted Share Plan are satisfied by Common Shares of the Corporation purchased on the open market, which Common Shares are held in a custodial account as “restricted shares” until the Hold Date (as defined below).
A Participant shall have no right to receive any cash dividend paid prior to the Hold Date on Restricted Shares that have not Vested under the terms of the Plan, provided that a Participant may elect to receive cash sufficient to pay income taxes (if any) associated with such dividend.
In all other cases of cessation of employment, all Restricted Shares which have not Vested on the Termination Date will be forfeited and all Restricted Shares which have vested on the Termination Date will remain subject to the terms of the Plan until the Hold Date .