Acceleration Event. Upon an Acceleration Event, the Committee may, in its discretion, (a) accelerate vesting and/or settlement of the Award, (b) change the method of settlement to cash, (c) cancel the Award, or (d) take any other action it determines to be appropriate; provided, however, that the Committee shall not change the time or form of payment in a manner that would result in additional tax being imposed under Section 409A of the Code.
Appears in 3 contracts
Sources: Restricted Stock Unit Award Agreement (Itt Inc.), Restricted Stock Unit Award Agreement (Itt Inc.), Restricted Stock Unit Award Agreement (Itt Inc.)