Common use of Issuance of Shares or Payment Clause in Contracts

Issuance of Shares or Payment. Upon each Vesting Time, the Company shall cause to be issued and delivered to Participant a stock certificate (or, upon request and if permitted in the Administrator’s discretion, an entry to be made in the books of the Company or its designated agent) representing that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, less any shares withheld for payment of taxes as provided in Section 4(e) below, and shall deliver such certificate to Participant. Until the Vesting Time, Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder with respect to such shares. Alternatively, the Company may, in its sole discretion, pay Participant a lump sum payment, in cash, equal to the Fair Market Value of that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, subject to the withholding provisions of Section 4(f) below. Such Fair Market Value shall be determined as of each Vesting Time. If the Company makes such cash payment, the Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder with respect to such shares, whether before or after the Vesting Time. The Company will issue shares of Common Stock or make a cash payment pursuant to this Award as soon as practicable following the applicable Vesting Time, but in no event beyond 2 ½ months after the end of the calendar year in which the Vesting Time occurs.

Issuance of Shares or Payment. Upon each Vesting Time, the Company shall cause to be issued and delivered to Participant a stock certificate (or, upon request and if permitted in the Administrator’s discretion, an entry to be made in the books of the Company or its designated agent) representing that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, less any shares withheld for payment of taxes as provided in Section 4(e) below, and shall deliver such certificate to Participant. Until the Vesting Time, Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder shareholder with respect to such shares. Alternatively, the Company may, in its sole discretion, pay Participant a lump sum payment, in cash, equal to the Fair Market Value of that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, subject to the withholding provisions of Section 4(f) below. Such Fair Market Value shall be determined as of each Vesting Time. If the Company makes such cash payment, the Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder shareholder with respect to such shares, whether before or after the Vesting Time. The Company will issue shares of Common Stock or make a cash payment pursuant to this Award as soon as practicable following the applicable Vesting Time, but in no event beyond 2 ½ months after the end of the calendar year in which the Vesting Time occurs.

Issuance of Shares or Payment. Upon each Vesting TimeDate, the Company shall cause to be issued and delivered to Participant a stock certificate (or, upon request and if permitted in the Administrator’s discretion, an entry to be made in the books of the Company or its designated agent) agent representing that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, less any shares withheld for payment of taxes as provided in Section 4(e4(f) below, and shall deliver such certificate evidence of book entry to Participant. Upon request, the Company shall cause to be issued a stock certificates representing such shares of Common Stock in the Participant’s name. Until the Vesting TimeDate, Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder with respect to such shares. Alternatively, the Company may, in its sole discretion, pay Participant a lump sum payment, in cash, equal to the Fair Market Value of that number of shares of Common Stock which that is equivalent to the number of restricted stock units that have vested, subject to the withholding provisions of Section 4(f) below. Such Fair Market Value shall be determined as of each Vesting TimeDate. If the Company makes such cash payment, the Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder with respect to such shares, whether before or after the Vesting TimeDate. The Company will issue shares of Common Stock or make a cash payment pursuant to this Award as soon as practicable following the applicable Vesting TimeDate, but in no event beyond 2 ½ months after the end of the calendar year in which the Vesting Time Date occurs.

Issuance of Shares or Payment. Upon each Vesting Time, the Company shall cause to be issued and delivered to Participant a stock certificate (or, upon request and if permitted in the Administrator’s 's discretion, an entry to be made in the books of the Company or its designated agent) representing that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, less any shares withheld for payment of taxes as provided in Section 4(e) below, and shall deliver such certificate to Participant. Until the Vesting Time, Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder with respect to such shares. Alternatively, the Company may, in its sole discretion, pay Participant a lump sum payment, in cash, equal to the Fair Market Value of that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, subject to the withholding provisions of Section 4(f) below. Such Fair Market Value shall be determined as of each Vesting Time. If the Company makes such cash payment, the Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder with respect to such shares, whether before or after the Vesting Time. The Company will issue shares of Common Stock or make a cash payment pursuant to this Award as soon as practicable following the applicable Vesting Time, but in no event beyond 2 ½ months after the end of the calendar year in which the Vesting Time occurs.

Issuance of Shares or Payment. Upon each Vesting Time, the Company shall cause to be issued and delivered to Participant a stock certificate (or, upon request and if permitted in the Administrator’s discretion, an entry to be made in the books of the Company or its designated agent) representing that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, less any shares withheld for payment of taxes as provided in Section 4(e) below, and shall deliver such certificate to Participant. Until the Vesting Time, Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder shareholder with respect to such shares. Alternatively, the Company may, in its sole discretion, pay Participant a lump sum payment, in cash, equal to the Fair Market Value of that number of shares of Common Stock which is equivalent to the number of restricted stock units that have vested, subject to the withholding provisions of Section 4(f) below. Such Fair Market Value shall be determined as of each Vesting Time. If the Company makes such cash payment, the Participant shall not be entitled to vote the shares of Common Stock represented by such restricted stock units, shall not be entitled to receive dividends attributable to such shares of Common Stock, and shall not have any other rights as a stockholder shareholder with respect to such shares, whether before or after the Vesting Time. The Company will issue shares of Common Stock or make a cash payment pursuant to this Award as soon as practicable following the applicable Vesting Time, but in no event beyond 2 ½ 1/2 months after the end of the calendar year in which the Vesting Time occurs.