Payment of Vested Units. A cash payment in respect of vested Units shall be made to Executive not later than the 15th of March following the date such Unit vests and shall equal the applicable number of vested Units multiplied by the lesser of (a) $12.00 or (b) the greater of (i) $6.00 or (ii) the average closing price of the Company's common stock (as reported in the Wall Street Journal) for the first five trading days immediately following the Company's annual earnings release in respect of the Company's fiscal years ending in January 2001, 2002, or 2003, as the case may be. Notwithstanding the foregoing, if Units vest by reason of a Change of Control Event, a cash payment in respect of such Units shall be made to Executive as soon as practicable after the Change of Control Event and shall equal the applicable number of Units multiplied by the lesser of (x) $12.00, or (y) the greater of (i) $6.00 or (ii) the tender offer price per common share of Company Stock in the case of a cash transaction or the average closing price for the Company (as reported in the Wall Street Journal) for the five trading days immediately preceding the Change of Control Event date in the case of a noncash transaction.
Payment of Vested Units. Vested Units are payable on a deferred basis at the same time that your “Payment Sub-Account” for the 20 “Plan Year” under the EnPro Industries, Inc. Management Stock Purchase Deferral Plan is payable, based on your prior election under such plan. EXHIBIT C ENPRO INDUSTRIES, INC. AMENDED AND RESTATED 2002 EQUITY COMPENSATION PLAN RESTRICTED SHARE UNITS AWARD AGREEMENT FOR MANAGEMENT STOCK PURCHASE DEFERRAL PLAN Beneficiary Designation Form Please complete this form only if you haven’t already designated a beneficiary for your Units granted under the Plan or if you wish to change your current beneficiary designation. Completed forms should be returned to Xxxxx Xxxxx at 0000 Xxxxxxxx Xxxx., Xxxxx 000, Xxxxxxxxx, XX 00000 or xxxxx.xxxxx@xxxxxxxxxxxxxxx.xxx. GRANT DATE NUMBER OF UNITS [ ] [ ] With respect to the above described award of Units under the EnPro Industries, Inc. Amended and Restated 2002 Equity Compensation Plan (the “Plan”), I hereby designate the following person or entity as my beneficiary with respect to any delivery of payment with respect to the Units in the event of my death. If my beneficiary named below predeceases me, any such payment will be made to my estate. Name and Address of Beneficiary Social Security # Relationship to Participant I understand that I may change this designation at any time by executing a new form and delivering it to the Human Resources Department. This designation supersedes any prior beneficiary designation made by me under the Plan with respect to the Units. Employee’s Name (Please print) Witness: Signature of Employee Date: Received by the Human Resources Department this day of , . By:
Payment of Vested Units. (a)Payment in respect of Executive’s vested Units is subject to a mandatory Deferral Direction and shall be paid at the time set forth in Section 7(b) or Section 13 (if applicable) of the Plan (the “Payment Date”) (generally upon the earliest to occur of (i) a 409A Change of Control and the later of (A) the date of Executive’s Separation from Service and (B) the Vesting Date of the Units as set forth above).
Payment of Vested Units. As soon as administratively practicable after the end of the Performance Period or, if earlier, the date of a Corporate Change, you shall be entitled to receive from the Company a payment in cash equal to the product of the Payout Percentage (as set forth in Attachment A) and the value of your vested Performance Units as determined in Attachment A. Notwithstanding the foregoing, however, (a) payment may not be made prior to the first day such payment would not be subject to the additional tax imposed by Section 409A of the Code, (b) in no event may the amount paid to you by the Company in any year with respect to Performance Units earned hereunder exceed $5,000,000 if you are a “covered employee” for purposes of Section 162 (m) of the Code and (c) you shall not be entitled to receive payment until you have completed one year of service with the Company or its Affiliates from the date of grant of this Award, unless such requirement is waived by the Committee in the case of death, disability, retirement, involuntary separation without cause or a Corporate Change.
Payment of Vested Units. Vested Units are payable on a deferred basis at the same time that your “Payment Sub-Account” for the 2015 “Plan Year” under the EnPro Industries, Inc. Management Stock Purchase Deferral Plan is payable, based on your prior election under such plan.
Payment of Vested Units. Within a reasonable period after the Restricted Stock Units become vested and payable, for each vested and payable Restricted Stock Unit, the Company will deliver to you a cash payment equal to the Fair Market Value of one share of Common Stock on the date the Restricted Stock Units become vested and payable.
Payment of Vested Units. Except as indicated below, payouts will be made as soon as administratively practicable after the end of the Performance Period, but in no event later than March 15, 2010. In the event of death or disability as specified above, payment will be made no later than March 15 of the year following the year in which the event occurs. In the event of a Corporate Change, payment will be made on the effective date of the Corporate Change. Notwithstanding the foregoing, however, (a) payment may not be made prior to the first day such payment would not be subject to the additional tax imposed by Section 409A of the Code, (b) in no event may the amount paid to you by the Company in any year with respect to Performance Units earned hereunder exceed $5,000,000 if you are a "covered employee" for purposes of Section 162 (m) of the Code and (c) you shall not be entitled to receive payment until you have completed one year of service with the Company or its Affiliates from the date of grant of this Award, unless such requirement is waived by the Committee in the case of death, disability, retirement, involuntary separation without cause or a Corporate Change.
