Examples of FSA Stock in a sentence
Neither any Participant awarded Performance Shares hereunder, nor any person entitled to exercise a Participant’s rights thereto in the event of death, shall have any rights of a stockholder with respect to any share of FSA Stock subject to such Participant’s award of Performance Shares, except to the extent that a certificate for such shares shall have been issued as provided for herein.
Subject to any deferral election made pursuant to the terms and conditions of an agreement evidencing an award hereunder, at a date determined by the Company and notified to each Participant prior to the date on which a Performance Cycle shall be completed with respect to a Participant’s award of Performance Shares, such Participant may make an election to receive such Participant’s distribution, if any, following completion of such Performance Cycle, in shares of FSA Stock and/or cash.
Performance Shares shall be denominated in shares of FSA Stock and, contingent upon the attainment of specified Performance Objectives within one or more Performance Cycles and, subject to the Company’s rights as set forth in paragraph (c) of this Section 5, represent the right to receive a distribution of FSA Stock and/or payment of cash following the completion of each Performance Cycle, as provided in paragraph (b) of this Section 5.
Notwithstanding any such election, the Committee may in its sole and absolute discretion satisfy the Company’s obligations to any Participant either by delivery of shares of FSA Stock, subject to the availability of such FSA Stock under the Plan, or by paying cash.
In such event, the Committee shall reduce the number of shares of FSA Stock pursuant to each Participant’s election pro rata, based upon the number of shares of FSA Stock otherwise issuable pursuant to such elections.
The Plan shall be administered by a Committee of not less than two persons, who shall be members of and appointed by the Board and serve at the pleasure of the Board, unless otherwise determined by the Board, and who shall be Disinterested Persons so long as the FSA Stock is registered pursuant to Section 12 of the Act.
The foregoing provisions of this paragraph applicable to FSA Stock and Dexia Stock shall not be effective if and to the extent that the shares of FSA Stock or Dexia Stock delivered under the Plan are covered by an effective and current registration statement under the Securities Act of 1933, as amended, such that application of such provisions is no longer required, or if and so long as the Committee otherwise determines that such application is no longer required.
Subject to paragraph (d) below, recipients of Dexia Restricted Stock or FSA Stock in respect of Performance Shares under the Plan are not required to make any payment or provide consideration other than the rendering of past services and/or the commitment to render and rendering of future services.
In such event, the Committee shall reduce the aggregate number of shares of FSA Stock deliverable to you pursuant to your election pro rata among all Participants making similar elections, based upon the number of shares of FSA Stock otherwise deliverable pursuant to such elections.
If you fail to make a timely election, the Committee shall have the sole discretion to deliver shares of FSA Stock and/or pay cash to satisfy any such obligation.