Common use of Holding Period Requirement Clause in Contracts

Holding Period Requirement. As a condition to receipt of the Restricted Share Units, Awardee hereby agrees to hold, until the first anniversary of the Vesting Date (or, if earlier, the date Awardee ceases to be a member of the Board), the After-Tax Net Profit in Shares issued pursuant to settlement of such units. “After-Tax Net Profit” means the total dollar value of the Shares that Awardee receives at settlement, minus the amount of all applicable federal, state, local or foreign income or other taxes that are expected to be incurred in connection with the vesting of the Award, determined based upon the highest applicable marginal rate for each such tax.

Holding Period Requirement. As a condition to receipt of the Restricted Share Units, Awardee hereby agrees to hold, until the first anniversary of the Vesting Date (or, if earlier, the date Awardee ceases to be a member of the Board), the After-Tax Net Profit in Shares issued pursuant to settlement payment of such units. “After-Tax Net Profit” means the total dollar value of the Shares that Awardee receives at settlementpayment, minus the amount of all applicable federal, state, local or foreign income or other taxes that are expected to be incurred in connection with the vesting of the Award, determined based upon the highest applicable marginal rate for each such tax.

Holding Period Requirement. As a condition to receipt of the Restricted Share Units, Awardee hereby agrees to hold, until the first anniversary of the Vesting Date (or, if earlier, the date Awardee ceases to be a member of the Board), the After-Tax Net Profit in Shares issued pursuant to settlement payment of such units. “After-Tax Net Profit” means the total dollar value of the Shares that Awardee receives at settlementpayment, minus the amount of all applicable federal, state, local or foreign income or other taxes that are expected to be incurred in connection with the vesting of the Award, determined based upon the highest applicable marginal rate for each such tax. This paragraph 7 will not apply on or after the date of a Change of Control.

Holding Period Requirement. As a condition to receipt of the Restricted Share Units, Awardee Grantee hereby agrees to hold, until the first anniversary of the Vesting Date (or, if earlier, the date Awardee Grantee ceases to be a member of the Board), the After-Tax Net Profit in Shares issued pursuant to settlement of such units. “After-Tax Net Profit” means the total dollar value of the Shares that Awardee Grantee receives at settlement, minus the amount of all applicable federal, state, local or foreign income income, employment or other taxes tax and other similar fees that are expected to be incurred in connection with the vesting of the Award, determined based upon the highest applicable marginal rate for each such taxtax or fee.