Lapse of RESTRICTED PERIOD. Upon the lapse of the RESTRICTED PERIOD applicable to any RESTRICTED STOCK UNITS, as promptly as is reasonably practicable, and in no case later than March 15th of the year after the year the RESTRICTED PERIOD lapses, SHARES of the COMPANY shall be issued to PARTICIPANT and the COMPANY shall deliver a stock certificate or other appropriate documentation evidencing the number of SHARES of the COMPANY issued in settlement of such vested RESTRICTED STOCK UNITS to PARTICIPANT.
Lapse of RESTRICTED PERIOD. Upon the lapse of the RESTRICTED PERIOD applicable to any EARNED UNITS, as promptly as is reasonably practicable, and in no case later than the 15th day of the third month immediately following the completion of the three-year performance period, SHARES of the COMPANY shall be issued to PARTICIPANT and the COMPANY shall deliver a stock certificate or other appropriate documentation evidencing the number of SHARES of the COMPANY issued in settlement of such vested EARNED UNITS to PARTICIPANT (with each EARNED UNIT representing the right to receive one SHARE of the COMPANY).
Lapse of RESTRICTED PERIOD. (a) Subject to compliance with Sections 6 and 7, restrictions on RSUs subject to the Award shall be deemed to lapse at the close of business on the later of the vesting date and the date on which the RSUs are no longer subject to the TARP limitations set forth in Section 4. Notwithstanding the foregoing, in the event of Grantee’s (i) death, (ii) Disability, (iii) retirement or (iv) termination of employment that would entitle Grantee to severance payments pursuant to the provisions of the Company’s Severance Pay Plan, as in effect from time to time (the “Severance Pay Plan”), the outstanding Time-Based RSUs, and the Performance-Based RSUs that have satisfied the Company’s performance targets but are not vested, shall vest based on the number of months that have lapsed in the vesting period. For purposes of this Agreement, notwithstanding the definition in the Plan document, “retirement” shall mean Grantee’s cessation of employment for reasons other than Cause following the later of Grantee’s 55th birthday and completion of five years of employment with the Company or an Affiliate. All outstanding RSUs shall 100% vest in the event of a Change in Control. Upon the later of the vesting date and the date(s) on which such RSUs are no longer subject to the TARP limitations in Section 4, the associated number of RSUs shall be settled in freely transferable shares of the Company’s Common Stock. If Grantee’s employment with the Company or its Affiliates terminates prior to full vesting other than under the circumstances described in this Section 5, any portion of the Award that has not vested at the time of such termination shall be forfeited.
Lapse of RESTRICTED PERIOD. Upon the lapse of the RESTRICTED PERIOD applicable to any RESTRICTED STOCK UNITS, the COMPANY shall deliver as promptly as is reasonably practicable a stock certificate for or other appropriate documentation evidencing the number of COMMON SHARES of the COMPANY issued in settlement of such vested RESTRICTED STOCK UNITS to the PARTICIPANT.
Lapse of RESTRICTED PERIOD. Upon the lapse of the RESTRICTED PERIOD applicable to any EARNED UNITS, as promptly as is reasonably practicable, and in no case later than March 15th of the year after the year the RESTRICTED PERIOD lapses, COMMON SHARES shall be issued to the PARTICIPANT and the COMPANY shall deliver a stock certificate or other appropriate documentation evidencing the number of COMMON SHARES of the COMPANY issued in settlement of such vested EARNED UNITS to the PARTICIPANT (with each EARNED UNIT representing the right to receive one COMMON SHARE).
Lapse of RESTRICTED PERIOD. In the event of a Change in Control, the Restricted Period shall lapse as to the remaining Restricted Stock subject to the Restricted Period at the time of the Change in Control.
Lapse of RESTRICTED PERIOD. Subject to Article X of the Plan regarding a Change of Control, the Restricted Period shall commence on the date of this Award and shall lapse in its entirety on the third anniversary of the date of this Award. Notwithstanding anything to the contrary herein, upon the lapse of the Restricted Period, the Compensation Committee may, in its sole discretion, elect to pay cash or part cash and part Common Stock in lieu of delivering only Common Stock. If a cash payment is made in lieu of delivering Common Stock, the amount of such cash payment for each share of Common Stock to which Grantee is entitled shall be equal to the Fair Market Value of the Common Stock on the date on which the Restricted Period lapsed.
Lapse of RESTRICTED PERIOD. Unless the Restricted Period on Restricted Stock Units has lapsed earlier under Section 3(c) or 5(a), the Restricted Period will lapse according to the following schedule, subject to Employee’s continued employment with the Company or a subsidiary through the relevant vesting date: Vesting Date Restricted Stock Units for Which the Restricted Period Lapses First Anniversary of the Grant Date 25% Second Anniversary of the Grant Date 25% Third Anniversary of the Grant Date 25% Fourth Anniversary of the Grant Date 25% The lapse of the Restricted Period for the Restricted Stock Units is cumulative, but shall not exceed 100%.
Lapse of RESTRICTED PERIOD. Unless the Restricted Period on Restricted Stock Units has lapsed earlier under Section 3(c) or 5(a), the Restricted Period will lapse according to the following schedule, subject to Employee’s continued employment with the Company or a subsidiary through the relevant vesting date: Vesting Date Restricted Stock Units for Which the Restricted Period Lapses April 1, 2009 50% April 1, 2010 50% The lapse of the Restricted Period for the Restricted Stock Units is cumulative, but shall not exceed 100%.
Lapse of RESTRICTED PERIOD. The period during which the Stock is subject to forfeiture and restrictions on transferability, each as described herein (the "Restricted Period"), shall commence on the Grant Date and shall lapse with respect to the Stock on the earlier of: (a) the 15th anniversary of the Grant Date, (b) the death of the Participant or (c) the permanent and total disability of the Participant. The Restricted Period shall not lapse under any other circumstances, including upon a change in control of the Company or the sale, lease, transfer, conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the assets of the Company or the merger, consolidation, reorganization, liquidation or dissolution of the Company.
