Examples of Timken Common Shares in a sentence
From and after the Distribution Date, TimkenSteel and the TimkenSteel Group will be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the TimkenSteel Spinoff Nonqualified Plans, whether accrued before, on or after the Distribution Date, except that Timken will be responsible for distributing any Timken Common Shares that are to be distributed pursuant to any Spinoff Nonqualified Plan.
Timken Shareholders holding a number of Timken Common Shares, on the Record Date, which would entitle such shareholders to receive less than one whole TimkenSteel Common Share in the Distribution will receive cash in lieu of fractional shares.
Except for cash or cash equivalent investments determined by the Investment Committee to be required to facilitate Participant transactions out of the Timken Common Stock Fund, the Timken Common Stock Fund shall be invested exclusively in Timken Common Shares.
Eligible Participants and Beneficiaries (as defined in Article VIII, Section G) in this Plan shall have the authority to direct the exercise of voting rights as to whole Timken Common Shares for the benefit of the Eligible Participant or Beneficiary as of the most current Valuation Date available preceding the record date for the shareholders’ meeting.
Any cash dividends paid with respect to Timken Common Shares shall be paid to the Plan and reinvested initially in the same investment options the Participant has selected for his Wage Reduction Contributions and Rollover Contributions or, if the Participant has made no such elections, reinvested in any investment option or options, excluding the Timken Common Stock Fund, selected in a manner determined by the Investment Committee until such time as the Participant selects investment options.
All other Timken Common Shares held in the Trust, including shares not voted by Eligible Participants or Beneficiaries, are to be voted by the Trustee in conformity with applicable law, taking into account votes directed by Eligible Participants and Beneficiaries.