Distribution of Restricted Stock Units Sample Clauses

Distribution of Restricted Stock Units. Each Participant shall elect a form of distribution with respect to any Restricted Stock Units credited to the Participant hereunder and with respect to any Restricted Stock Units that may be credited to the Participant in the future. The Participant may elect to receive such Stock Units in a single stock distribution or in 10 annual installments upon the Participant's Separation From Service. The Participant's election under this paragraph is irrevocable. Notwithstanding the foregoing, if a Participant has a Separation From Service in 2008, distribution will be made in the form elected by the Participant prior to 2008 with respect to any deferral under the Norfolk Southern Corporation Outside Directors Deferred Stock Unit Program. If the Participant elects to receive the Restricted Stock Units in a single stock distribution, upon the expiration of the Retention Period, a certificate representing whole shares of Common Stock shall be delivered to the Participant, and any remaining fraction of a single Restricted Stock Unit that was credited to the Participant's memorandum account shall be distributed in cash concurrent with the distribution. The Participant's failure to make a valid election will result in the Restricted Stock Units being distributed in a single stock distribution. If the Participant elects to receive the Restricted Stock Units in 10 annual installments upon the Participant's Separation From Service, following the expiration of the Retention Period, the first distribution under an election to receive installments will be made in January following the year of the Participant's Separation From Service, and subsequent installments will be distributed on the anniversary of the first installment. A certificate representing whole shares of Common Stock shall be delivered to the Participant upon distribution of each annual installment. The first such installment will be the number of whole Restricted Stock Unit Shares that equal one tenth of the total number of the Restricted Stock Units in the memorandum account at that time; the second installment, one ninth of the remaining total number; the third installment, one eighth; and so forth, until all remaining Restricted Stock Units are distributed as whole Restricted Stock Unit Shares upon distribution of the certificate in the tenth installment. Any remaining fraction of a single Restricted Stock Unit that was credited to the Participant's memorandum account upon the distribution of the tenth ins...
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Distribution of Restricted Stock Units i. If the Participant remains in the continuous employment of the Corporation or a Subsidiary Company during the entire Restriction Period, upon the expiration of the Restriction Period all restrictions applicable to the Restricted Stock Units shall lapse and whole shares of Common Stock of the Corporation equal to the Fair Market Value on the date all applicable restrictions of the awarded Restricted Stock Units have lapsed shall be distributed to the Participant, subject to tax withholding as provided in Section 6 of this Agreement.
Distribution of Restricted Stock Units i. Restricted Stock Units that are not forfeited as provided above shall vest upon the expiration of each Restriction Period. Notwithstanding the foregoing, if the Participant dies while employed by the Corporation, or the Participant dies after his or her Retirement or Disability, and before the entire Award has been distributed, then the Restricted Stock Units shall all vest upon the Participant’s death, and all the Restriction Periods on the Restricted Stock Units shall lapse immediately.
Distribution of Restricted Stock Units i. Restricted Stock Units that are not forfeited as provided above shall vest upon the expiration of each Restriction Period. Notwithstanding the foregoing, (A) if the Participant dies after Retirement, then Restricted Stock Units that were not forfeited as provided in Section 3(c)(i) above shall vest upon the Participant’s death, and the Restriction Periods on those Restricted Stock Units shall lapse immediately, and (B) if the Participant dies while employed by the Corporation, or the Participant dies after Disability, and before the entire Award has been distributed, then the Restricted Stock Units shall all vest upon the Participant’s death, and all the Restriction Periods on the Restricted Stock Units shall lapse immediately.
Distribution of Restricted Stock Units. The Restricted Stock Units credited hereunder shall be distributed in accordance with the irrevocable election previously made by the Participant. If the Participant dies at any time, then within thirty (30) days following the Participant's death, any Restricted Stock Units credited to the Participant's memorandum account will be distributed as whole Restricted Stock Unit Shares to the Participant's beneficiary and any fraction of a single Restricted Stock Unit that was credited to the Participant's memorandum account will be distributed to the Participant's beneficiary in cash. The beneficiary may not, directly or indirectly, designate the taxable year of the settlement.
Distribution of Restricted Stock Units. Restricted Stock Units will vest upon the expiration of the Restriction Period. Upon the vesting and expiration of the Restriction Period, a whole number of Restricted Stock Unit Shares equal to the number of Restricted Stock Units on the date the Restriction Period ended will be distributed to the Participant or the Participant’s beneficiary in the event of the Participant’s death.
Distribution of Restricted Stock Units. The Company will distribute the vested Restricted Stock Units to the Executive in shares of Common Stock as soon as administratively practicable following the applicable vesting date, unless the “Six Month Delay Rule” under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) applies, as described in Section 21 of this Agreement. In the event of the Executive’s death, distribution of Common Stock due under this Agreement shall be made to the appointed and qualified executor or other personal representative of the Executive to be distributed in accordance with the Executive’s will or applicable intestacy law; or in the event that there shall be no such representative duly appointed and qualified within six months after the date of the Executive’s death, then to such persons as, at the date of his/her death, would be entitled to share in the distribution of the Executive’s personal estate under the provisions of the applicable statute then in force governing the descent of intestate property, in the proportion specified in such statute. In the event of the Executive’s Disability, distribution of Common Stock due under this Agreement shall be made to the Executive or the Executive’s other personal representative.
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Distribution of Restricted Stock Units. The Company will distribute the vested Restricted Stock Units to the Executive in shares of Common Stock as soon as practicable following the applicable vesting date, or as otherwise provided in Section 4(d). In the event of the Executive’s death, distribution of Common Stock due under this Agreement shall be made as soon as practicable following the Executive’s death to the appointed and qualified executor or other personal representative of the Executive to be distributed in accordance with the Executive’s will or applicable intestacy law; or in the event that there shall be no such representative duly appointed and qualified within six months after the date of the Executive’s death, then to such persons as, at the date of his/her death, would be entitled to share in the distribution of the Executive’s personal estate under the provisions of the applicable statute then in force governing the descent of intestate property, in the proportion specified in such statute. In the event of the Executive’s Disability, distribution of Common Stock due under this Agreement shall be made as soon as practicable following the Executive’s Disability to the Executive or the Executive’s other personal representative.
Distribution of Restricted Stock Units. Subject to the provisions of Section 2(d) hereof, the Grantee shall receive the number of shares of common stock of the Company, par value $.00001 per share (the “Common Stock”), that correspond to the number of Restricted Stock Units that have become vested on the Delivery Date. For purposes hereof, the termFair Market Value” shall mean, as of any date, the last sales price reported for the Common Stock on the applicable date: (A) as reported on the principal national securities exchange in the United States on which it is then traded, (B) if the Common Stock is traded on the OTC Bulletin Board, the closing bid price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (C) if the Common Stock is not then listed or quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (D) if the Common Stock is not traded, listed or otherwise reported or quoted, Fair Market Value shall be determined without applying minority interest, lack of liquidity or other similar discounts by a nationally recognized, independent appraisal firm mutually acceptable to Grantee and the Company, the expenses associated with which shall be paid by the Company.
Distribution of Restricted Stock Units. (a) The Restricted Stock Units shall be distributed in Shares (either in book-entry form or otherwise) as soon as administratively practicable following the vesting of the applicable Restricted Stock Unit, and, in any event, within sixty (60) days following such vesting (for the avoidance of doubt, this deadline is intended to comply with the “short-term deferral” exemption from Section 409A of the Code). Notwithstanding the foregoing, the Company may delay a distribution in settlement of Restricted Stock Units if it reasonably determines that such distribution will violate federal securities laws or any other applicable law, provided that such distribution shall be made at the earliest date at which the Company reasonably determines that the making of such distribution will not cause such violation, as required by Proposed Treasury Regulation Section 1.409A-1(b)(4)(ii), and provided further that no distribution shall be delayed under this Section 4(a) if such delay will result in a violation of Section 409A of the Code.
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