Final Issuance. Shares issued or transferred upon vesting of the RSUs shall be issued in whole Shares. Upon the final issuance or transfer of Shares to the Non-Employee Director pursuant to this Agreement, in lieu of any fractional Share, the Non-Employee Director shall receive a cash payment equal to the Fair Market Value of such fractional Share.
Appears in 2 contracts
Sources: Restricted Stock Units Agreement (Time Inc.), Restricted Stock Units Agreement (Time Inc.)