Common use of Issuance of Performance Shares Clause in Contracts

Issuance of Performance Shares. In the event that the Recipient is deemed to have earned any Performance Shares pursuant to the provisions of Section 2 hereof, a certificate or certificates representing that number of shares of the Common Stock which is equal to one-half (1/2) of the Earned Performance Shares Amount shall be issued in the Recipient's name on or before ________ __, 20__, provided the Recipient has theretofore delivered to the Corporation a stock power signed in blank by the Recipient with respect to such Performance Shares and in a form which is acceptable to the Corporation which may be used by the Corporation to cancel such Performance Shares in accordance with the provisions of the Plan and this Agreement. Upon issuance of the certificate or certificates for such Performance Shares, the Recipient shall be a stockholder with respect to such Performance Shares and, subject to the restrictions contained in Section 5 hereof, shall have all the rights of a stockholder with respect to such Performance Shares, including but not limited to, the right to vote such Performance Shares and to receive dividends and other distributions paid with respect to such Performance Shares. The certificate or certificates representing such Performance Shares, together with the executed stock power, shall be held in custody by the Corporation or an agent therefor pursuant to the provisions of the Plan for the account of the Recipient.

Issuance of Performance Shares. In the event that the Recipient is deemed to have earned any Performance Shares pursuant to the provisions of Section 2 hereof, a certificate or certificates representing that number of shares of the Common Stock which is equal to one-half (1/2) of the Earned Performance Shares Amount shall be issued in the Recipient's name on or before as of March ________ __, 20___, provided and as soon as reasonably practical after the delivery by the Recipient has theretofore delivered to the Corporation of a stock power signed in blank by the Recipient with respect to such Performance Shares and in a form which is acceptable to the Corporation which may be used by the Corporation to cancel such Performance Shares in accordance with the provisions of the Plan and this Agreement. Upon issuance of the certificate or certificates for such Performance Shares, the Recipient shall be a stockholder with respect to such Performance Shares and, subject to the restrictions contained in Section 5 hereof, and shall have all the rights of a stockholder with respect to such Performance Shares, including but not limited to, the right to vote such Performance Shares and to receive dividends and other distributions paid with respect to such Performance Shares. The certificate or certificates representing such Performance Shares, together with the executed stock power, shall be held in custody by the Corporation or an agent therefor pursuant to the provisions of the Plan for the account of the Recipient.