Common use of Restricted Period Clause in Contracts

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

AutoNDA by SimpleDocs

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardThe RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, Award shall be subject to forfeiture until the end of the Restricted PeriodPeriod three years after the date of this grant. The Participant Employee becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022three years after the date of this grant. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Target Level of PRSUs that vestgranted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee if dividends are declared and paid by the Corporation with respect to its outstanding shares of Common Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28[Insert]. During the Restricted Period, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the PRSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, The Restricted Share Units shall be subject to forfeiture until the end of the Restricted Period. The Participant Employee becomes 100% vested in such Award according to the number of PRSUs earned based on attainment of schedule set forth in the Performance Goal at the end of the Restricted Period as approved and authorized by the CommitteeAward Agreement. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award according to the schedule set forth in the Award Agreement. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash within 60 days an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Restricted Share Units granted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee within sixty days of PRSUs that vestwhen dividends are paid by the Corporation with respect to its outstanding shares of Common Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 2 contracts

Samples: ____ Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits On-line site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph in this Section 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits On-line site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award. Thirty percent (30%) of the RSUs will vest on the first anniversary of the Grant Date; thirty percent (30%) of the RSUs will vest on the second anniversary of the Grant Date; and forty percent (40%) of the RSUs will vest on the third anniversary of the Grant Date. During the Restricted Period, and shall end on February 28, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the RSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor any right to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Notwithstanding any provision in this Award Agreement, this Award will be forfeited if the Participant does not agree to the terms of any restrictive covenant agreement(s) containing non-competition, non-solicitation, confidentiality, business ideas and similar restrictions that may be presented to the Participant at any time prior to the last day of the calendar year in which this Award is granted (whether before or after the Grant Date) and that the Participant will be required to accept pursuant to such acceptance procedures (including electronic acceptance) as will be communicated to the Participant. Such restrictive covenant agreement must be accepted by the Participant within thirty (30) days and if not so accepted, this Award will be forfeited, unless otherwise determined by the Corporation in its discretion.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, Award shall be subject to forfeiture until the end of the Restricted PeriodPeriod on , . The Participant Employee becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash within 60 days an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Target Level of PRSUs that vestgranted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee if, as and when dividends are declared and paid by the Corporation with respect to its outstanding shares of Common Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, The Award shall be subject to forfeiture until the end of the Restricted PeriodPeriod on . The Participant Employee becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award under this paragraph 2. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash within 60 days an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Target Level of PRSUs that vestgranted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee if, as and when dividends are declared and paid by the Corporation with respect to its outstanding shares of Common Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, Award and shall end on February 28[Insert]. During the Restricted Period, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the PRSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor any right to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Notwithstanding any provision in this Award Agreement, this Award will be forfeited if the Participant does not agree to the terms of any restrictive covenant agreement(s) containing non-competition, non-solicitation, confidentiality, business ideas and similar restrictions that may be presented to the Participant at any time prior to the last day of the calendar year in which this Award is granted (whether before or after the Grant Date) and that the Participant will be required to accept pursuant to such acceptance procedures (including electronic acceptance) as will be communicated to the Participant. Such restrictive covenant agreement must be accepted by the Participant within thirty (30) days and if not so accepted, this Award will be forfeited, unless otherwise determined by the Corporation in its discretion.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under this paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted PeriodPeriod three years after the date of this grant. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022three years after the date of this grant. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 20222021. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 20222019. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28[Insert]. During the Restricted Period, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the PRSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor any right to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Notwithstanding any provision in this Award Agreement, any unvested PRSUs or any vested PRSUs that have not been settled yet will be forfeited if the Participant does not agree to the terms of any restrictive covenant agreement(s) containing non-competition, non-solicitation, confidentiality, assignment of business ideas and similar restrictions that may be presented to the Participant at any time (whether before or after the Grant Date) and that the Participant will be required to accept pursuant to such acceptance procedures (including electronic acceptance) as will be communicated to the Participant. If a restrictive covenant agreement is presented to the Participant, the restrictive covenant agreement will have to be accepted by the Participant within sixty (60) days and if not so accepted, the PRSUs will be forfeited, unless otherwise determined by the Corporation in its discretion.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardThe RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date(s) that were approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs, but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Halyard Health, Inc.)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph in this Section 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits On-line site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28[insert]. During the Restricted Period, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the RSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor any right to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Notwithstanding any provision in this Award Agreement, any unvested RSUs or any vested RSUs that have not been settled yet will be forfeited if the Participant does not agree to the terms of any restrictive covenant agreement(s) containing non-competition, non-solicitation, confidentiality, assignment of business ideas and similar restrictions that may be presented to the Participant at any time (whether before or after the Grant Date) and that the Participant will be required to accept pursuant to such acceptance procedures (including electronic acceptance) as will be communicated to the Participant. If a restrictive covenant agreement is presented to the Participant, the restrictive covenant agreement will have to be accepted by the Participant within sixty (60) days and if not so accepted, the RSUs will be forfeited, unless otherwise determined by the Corporation in its discretion.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted PeriodPeriod three years after the date of this grant. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022three years after the date of this grant. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the The Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end Participant becomes vested in such Awards. PRSUs shall not vest unless and until the Committee makes a final determination of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of extent to which the Performance Goal at the end of the Restricted Period as approved and authorized by the CommitteeGoals set forth on Appendix A-1 have been satisfied. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution Exhibit 10.8 or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs PRSUs, but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Avanos Medical, Inc.)

AutoNDA by SimpleDocs

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardThe RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Lapsing table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award according to the schedule set forth above. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardThe RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s 's Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s 's Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph in this Section 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits On-line site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28[insert]. During the Restricted Period, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the RSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor any right to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Notwithstanding any provision in this Award Agreement, this Award will be forfeited if the Participant does not agree to the terms of any restrictive covenant agreement(s) containing non-competition, non-solicitation, confidentiality, business ideas and similar restrictions that may be presented to the Participant at any time prior to the last day of the calendar year in which this Award is granted (whether before or after the Grant Date) and that the Participant will be required to accept pursuant to such acceptance procedures (including electronic acceptance) as will be communicated to the Participant. Such restrictive covenant agreement must be accepted by the Participant within thirty (30) days and if not so accepted, this Award will be forfeited, unless otherwise determined by the Corporation in its discretion.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, The RSUs shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number date that was approved on the date of PRSUs earned based grant and as reflected on attainment of the Performance Goal at Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the end of Grant Summary screen as the Restricted Period as approved and authorized by the CommitteeFuture Lapsing table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award according to the schedule set forth above. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when at the PRSUs vestend of the Restricted Period, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits On-line site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28[upon the vesting of the Award]. During the Restricted Period and prior to the vesting of the RSUs, 2022. Holders holders of Awards shall have none of the rights of a shareholder with respect to such the shares of Common Stock that may be earned pursuant to the RSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, The Restricted Share Units shall be subject to forfeiture until the end of the Restricted Period. The Participant Employee becomes 100% vested in such Award according to the number of PRSUs earned based on attainment of schedule set forth in the Performance Goal at the end of the Restricted Period as approved and authorized by the CommitteeAward Agreement. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award according to the schedule set forth in the Award Agreement. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash within 60 days an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Restricted Share Units granted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee if, as and when dividends are declared and paid by the Corporation with respect to its outstanding shares of PRSUs that vestCommon Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, The Restricted Share Units shall be subject to forfeiture until the end of the Restricted Period. The Participant Employee becomes 100% vested in such Award according to the number of PRSUs earned based on attainment of schedule set forth in the Performance Goal at the end of the Restricted Period as approved and authorized by the CommitteeAward Agreement. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award according to the schedule set forth in the Award Agreement. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each calendar year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Restricted Share Units granted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee within sixty days of PRSUs that vestwhen dividends are paid by the Corporation with respect to its outstanding shares of Common Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant Employee may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, Award shall be subject to forfeiture until the end of the Restricted PeriodPeriod on ________, ____. The Participant Employee becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28________, 2022____. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant Employee will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit in cash within 60 days an amount equal to any dividends declared and other distributions which would have been paid on the Corporation’s shares of Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vestStock, based on the actual number Target Level of PRSUs that vestgranted under this Award. The amount equal to any dividends and other distributions on the Award shall be paid to the Employee if, as and when dividends are declared and paid by the Corporation with respect to its outstanding shares of Common Stock. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation. Any amounts which become payable to an Employee shall be paid from the general assets of the Corporation.

Appears in 1 contract

Samples: ____ Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardThe RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the AwardThe RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Lapsing table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph 2, the Award, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 20222023. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs will be accumulated and paid if and when the PRSUs vest, based on the actual number of PRSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Restricted Period. During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void. Except as provided under paragraph in this Section 2, the AwardRSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the end of the Restricted Period. The Participant becomes 100% vested in such Awards on the number of PRSUs earned based date that was approved on attainment of the Performance Goal at Grant Date and as reflected on the end of Xxxxxxx Xxxxx Benefits OnLine site, or any successor system, via the Restricted Period Grant Summary screen as approved and authorized by the CommitteeFuture Vesting table. The Restricted Period shall begin on the date of the granting of this Award, and shall end on February 28, 2022upon the vesting of the Award. Holders of Awards shall have none of the rights of a shareholder with respect to such shares including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof. During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested PRSUs RSUs but the Participant will receive a credit equal to dividends declared on the Corporation’s Common Stock which will be reinvested in additional PRSUs RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional PRSUs RSUs will be accumulated and paid if and when the PRSUs RSUs vest, based on the actual number of PRSUs RSUs that vest. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation. The Corporation shall not be required to segregate any cash or other property of the Corporation.

Appears in 1 contract

Samples: Award Agreement (Kimberly Clark Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.