Common use of Payment of Stock Units Clause in Contracts

Payment of Stock Units. The Grantee’s then vested Stock Units shall be paid in Shares upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code or (ii) the date that is three years after the Date of Grant. If a Change of Control occurs before the Stock Units are fully vested, any Stock Units that subsequently vest shall be paid upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code if an In Contemplation Termination has occurred or (iii) the date that is three years after the Date of Grant. Notwithstanding the foregoing, a distribution of Shares under this Agreement upon separation from service shall only be made upon the Grantee’s “separation from service” within the meaning of Section 409A of the Code, and all distributions shall be made at a time and in a manner consistent with Section 409A. When the vested Stock Units become payable, the Companies will issue to the Grantee Shares representing the Units underlying the vested Stock Units, subject to satisfaction of the Grantee’s tax withholding obligations as described below, within 30 business days after the payment event.

Payment of Stock Units. The Grantee’s then vested Stock Units shall be paid in Shares upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code Code, (ii) the Grantee’s separation from service for any reason other than for Cause, or (iiiii) the date that is three four years after the Date of Grant. If a Change of Control occurs before the Stock Units are fully vested, any Stock Units that subsequently vest shall be paid upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code if an In Contemplation Termination has occurred Grantee’s separation from service for any reason other than for Cause or (iiiii) the date that is three four years after the Date of Grant. Notwithstanding the foregoing, a distribution all distributions of Shares under this Agreement upon separation from service shall only be made upon the Grantee’s “separation from service” within the meaning of Section 409A of the Code, Code and all distributions a distribution shall be made at a time and in a manner consistent with Section 409A. When Subject to Sections 15, 16 and 20, when the vested Stock Units become payable, the Companies will issue to the Grantee Shares representing the Units underlying the vested Stock Units, subject to satisfaction of the Grantee’s tax Tax withholding obligations as described below, within 30 business days after the payment event.

Payment of Stock Units. The Grantee’s then vested Stock Units shall be paid in Shares upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code (a “409A Change of Control”), (ii) the Grantee’s separation from service for any reason other than for Cause, or (iiiii) the date that is three four years after the Effective Date of Grant. If a 409A Change of Control occurs before the Stock Units are fully vested, any Stock Units that subsequently vest shall be paid upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code if an In Contemplation Termination has occurred Grantee’s separation from service for any reason other than for Cause or (iiiii) the date that is three four years after the Date Effective Date. Any Stock Units that vest as a result of Grantan In Contemplation Termination under Section 4(c) or 4(d) shall be paid in Shares upon the Change of Control if the Change of Control is a 409A Change of Control and, if not, in accordance with the other provisions of this Section 5. Notwithstanding the foregoing, a distribution all distributions of Shares under this Agreement upon separation from service shall only be made upon the Grantee’s “separation from service” within the meaning of Section 409A of the Code, Code and all distributions a distribution shall be made at a time and in a manner consistent with Section 409A. When Subject to Sections 15, 16 and 20, when the vested Stock Units become payable, the Companies will issue to the Grantee Shares representing the Units underlying the vested Stock Units, subject to satisfaction of the Grantee’s tax Tax withholding obligations as described below, within 30 business days after the payment event.

Payment of Stock Units. The Grantee’s then vested Stock Units shall be paid in Shares upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code Code, (ii) the Grantee’s separation from service without Cause, or (iiiii) the date that is three five years after the Date of Grant. If a Change of Control occurs before the Stock Units are fully vested, any Stock Units that subsequently vest shall be paid upon the first to occur of (i) a Change of Control that meets the requirements of a “change in control event” under Section 409A of the Code if an In Contemplation Termination has occurred Grantee’s separation from service without Cause or (iiiii) the date that is three five years after the Date of Grant. Notwithstanding the foregoing, a distribution all distributions of Shares under this Agreement upon separation from service shall only be made upon the Grantee’s “separation from service” within the meaning of Section 409A of the Code, Code and all distributions a distribution shall be made at a time and in a manner consistent with Section 409A. When Subject to Section 20, when the vested Stock Units become payable, the Companies will issue to the Grantee Shares representing the Units underlying the vested Stock Units, subject to satisfaction of the Grantee’s tax Tax withholding obligations as described below, within 30 business days after the payment event.