Holding Units definition
Examples of Holding Units in a sentence
Once Restricted Units have vested, AB Holding Units shall be distributed to the Participant as specified in Article 4 of the Incentive Compensation Program.
To the extent that any portion of your Award is not vested as of, or in connection with, your Termination of Employment, the Holding Units and Money Market Shares comprising the unvested portion of your Award shall be forfeited.
As and when any federal, state or local tax or any other charge is required by law to be withheld with respect to the vesting of your Award, the payment of dividends or distributions on any Holding Units and Money Market Shares under the Award and the distribution of such Holding Units or Money Market Shares (a “Withholding Amount”), you agree promptly to pay the Withholding Amount to the Company in cash.
Notwithstanding the foregoing, the Company may, in its sole discretion, establish and amend policies from time to time for the satisfaction of Withholding Amounts by the deduction of a portion of the Holding Units or Money Market Shares under your Award.
Although your Award is initially denominated in cash, it will be converted into Holding Units, Money Market Shares or a combination thereof.
AB Holding Units shall be subject to adjustment in accordance with Section 4(c) of the 2017 Plan (or such applicable successor provision).
If you fail to submit a properly completed year 2002 offering Distribution Election Form on a timely basis, the Holding Units and Money Market Shares under your Award will be distributed in a lump sum on or about the third anniversary of the Date of Grant of your Award, unless the Committee determines otherwise, in its sole discretion.
You may elect the percentage of your Award to be denominated in Holding Units and Money Market Shares by timely completing and submitting a year 2002 offering Investment Election Form.
The Holding Units and Money Market Shares under your Award will be distributed to you in accordance with your year 2002 offering Distribution Election Form.
Restrictions lapse with respect to the Deferred Cash and AB Holding Units in accordance with the following schedule: Percentage of Awarded Deferred Cash and AB Holding Units Vested and Delivered1 on the Date Date Indicated.