Payment Where Participant Has Not Elected to Defer Award Sample Clauses

Payment Where Participant Has Not Elected to Defer Award. Except for the events provided in (a) above, unless Participant has elected to defer the Performance Units under this Award Agreement, as soon as practical after the end of the Performance Period but no later than the last day of the calendar year in which the Performance Period ends, the Company shall cause to be paid the cash value of vested Performance Units (less any amounts withheld to pay withholding taxes).
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Payment Where Participant Has Not Elected to Defer Award. Any Dividend Equivalents payable under Section 7 hereof shall be paid when the Company converts Performance Units to cash under Section 6. The Company shall automatically deduct the amount necessary to cover all federal and state employment taxes due as of the payment date, whether or not the payment is deferred, to comply with FICA tax rules (for deferred awards this will occur based on a specified date and as permitted under 26 C.F.R. § 1.409A-3(j)(4)(vi) and (xi)).
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Payment Where Participant Has Not Elected to Defer Award. If the Participant has not elected to defer the RSUs under this Agreement, any Dividend Equivalents payable under Section 5 hereof shall be paid when the Company issues a Share for the RSU (or pays cash in the case of a cash election described in Section 6).
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Payment Where Participant Has Not Elected to Defer Award. If Participant has not deferred payment in respect of the Performance Units under the Mosaic LTI Deferral Plan, the Company shall cause the applicable cash payment to be paid to Participant, together with all Dividend Equivalents (less any cash withheld to pay applicable withholding taxes), on or promptly following the Payment Date (or as provided in Section 3(b), if applicable). In the case where payment is delayed under Section 3(b)(ii), the Participant shall receive interest accrued from the date of the Qualified CIC Termination until the payment date based on the annual short‑term applicable federal rate in effect on the date of the Qualified CIC Termination.
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Payment Where Participant Has Not Elected to Defer Award. If Participant has not deferred payment in respect of the Performance Units under the Mosaic LTI Deferral Plan, the Company shall cause the applicable cash payment to be paid to Participant (less any cash withheld to pay applicable withholding taxes), on or promptly following the Payment Date.
Sample 1
Payment Where Participant Has Not Elected to Defer Award. Except in the case of the Participant’s death, no payment shall be made prior to the third anniversary of the Grant Date. The Participant may make an election to be paid up to 50% of the RSUs awarded to the Participant in cash rather than Shares. The Participant must make this election during an open trading window under the Company’s Policy Regarding Xxxxxxx Xxxxxxx and Tipping that occurs prior to the third anniversary of the Grant Date (to the extent the Participant is subject to such policy at the time of election), and in any event at a time when the Participant is not in possession of any material non-public information concerning the Company. If no election is made by the Participant prior to the third anniversary of the Grant Date, all RSUs shall be paid in Shares. The amount of cash payable to Participant pursuant to any such election shall equal the number of RSUs subject to such election, multiplied by the Fair Market Value, as defined in Section 2(l) of the Plan, of a Share on the third anniversary of the Grant Date. The Company shall pay and deliver to the Participant within thirty (30) days after the third anniversary of the Grant Date (i) the cash value, as of the third anniversary of the Grant Date, of the portion of the RSUs, if any, that the Participant has elected to receive in cash, together with all Dividend Equivalents, if any, accrued with respect to all RSUs granted hereunder in accordance with Section 5 hereof, and (ii) with respect to the portion of the RSUs the Participant is entitled to receive as Shares, a certificate or certificates, registered in the name of Participant, or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be, evidencing such vested whole Shares, and shall cause such certificate or certificates to be delivered to Participant or Participant’s legal representatives, beneficiaries or heirs, as the case may be. The value of any fractional Shares shall be paid in cash at the time certificates evidencing the Shares are delivered to Participant. If the Participant dies, the RSUs awarded to the Participant shall be distributed to the Participant’s Beneficiary in a single lump sum cash payment (rather than stock) on the date that is ninety (90) days after the date of the Participant’s death or as soon as administratively reasonable in the same calendar year following that date, with the amount of such payment equal to the number of RSUs awarded to the Participant, multiplied b...
Sample 1

Related to Payment Where Participant Has Not Elected to Defer Award

  • Deferral Period The Deferred Share Units will be subject to a deferral period in accordance with the election made by Grantee and the terms of the Deferred Compensation Plan. The Grantee may change the period of deferral by filing a subsequent election with the Company in accordance with the terms of the Deferred Compensation Plan. During the deferral period, the Grantee will have no right to transfer any rights under his or her Deferred Share Units and will have no other rights of ownership therein.

  • Deferral Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this Section 2.3, a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such twelve (12) month period. A demand right shall not be deemed to have been exercised until such deferred registration shall have been effected.

  • Acknowledgement of Discretionary Nature of the Plan; No Vested Rights By accepting the Restricted Stock Units, the Participant consents to participation in the Plan and acknowledges receipt of a copy of the Plan. The Participant understands that the Company has unilaterally, gratuitously and in its sole discretion granted Restricted Stock Units under the Plan to individuals who may be Participants of the Company or its subsidiaries throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its subsidiaries on an ongoing basis. Consequently, the Participant understands that the Restricted Stock Units are granted on the assumption and condition that the Restricted Stock Units and the Shares acquired upon settlement of the Restricted Stock Units shall not become a part of any employment contract (either with the Company or any of its subsidiaries) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, the Participant understands that this grant would not be made to the Participant but for the assumptions and conditions referenced above; thus, the Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason the Restricted Stock Units shall be null and void. The Participant understands and agrees that, as a condition of the Restricted Stock Units, unless otherwise provided in Section 4 (Termination of Employment) of the Agreement, any unvested Restricted Stock Units as of the date the Participant ceases active employment will be forfeited without entitlement to the underlying Shares or to any amount of indemnification in the event of termination of employment or service. The Participant acknowledges that the Participant has read and specifically accepts the conditions referred to in the Agreement regarding the impact of a termination on the Restricted Stock Units.

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