The Award; Payment Sample Clauses


The Award; Payment 3.1Grant of PRSUs. On January 28, 2017, the Participant shall acquire, subject to the provisions of this Agreement, a number of PRSUs equal to the number of Qualifying Shares as provided in the Grant Notice, subject to (a) the Company‚Äôs confirmation of the purchases of New Shares by the Participant during the period October 28, 2016 to January 28, 2017; (b) the designation by the Participant of Existing Shares as Qualifying Shares in accordance with the Grant Notice; (c) determination as set forth in Section 3.2 (Amount of Payment) below; and (d) adjustment as provided in Section 4.4 (Adjustments for Changes in Capital Structure) or Section 4.5 (Assumption or Substitution of Awards) of the Plan. 3.2Amount of Payment. Subject to certification by the Committee in writing of the number of shares of Stock (if any) that are payable under this Agreement, which certification and determination shall be made by the Committee in accordance with Section 5.1(a) following the end of the Performance Period, and except as otherwise specified in subsections (a), (b), and (c) immediately below), the number of shares of Stock that shall be issued in settlement of this Award on the date specified in Section 4.1 below, shall be equal to the Number of PRSUs multiplied by the Performance Multiplier (expressed as a decimal number), rounding up to the nearest whole share of Stock. If the Performance Multiplier is 0%, all PRSUs are forfeited and no shares will be paid.


The Award; Payment 3.1Grant of PRSUs. On the Date of Grant, the Participant shall acquire, subject to the provisions of this Agreement, the Number of PRSUs set forth in the Grant Notice, subject to (a) determination as set forth in Section 3.2, Section 3.3 or Section 3.4 of this Agreement, as applicable, and (b) adjustment as provided in Section 4.4 of the Plan (Adjustments for Changes in Capital Structure) or Section 4.5 of the Plan (Assumption or Substitution of Awards). 3.2Amount of Payment. Subject to satisfaction of the vesting requirements of Section 4 of this Agreement, and except as otherwise specified in Section 3.3 or Section 3.4 below, the number of shares of Stock that shall be issued in settlement of this Award on the date specified in Section 5.1 of this Agreement, shall be equal to the Aggregate PRSU Payout, calculated as follows:

The Award; Payment