Common use of Issuance Schedule Clause in Contracts

Issuance Schedule. The Shares in which Participant vests in accordance with the foregoing Vesting Schedule shall become issuable on the date specified in clause (i) or (ii) below as applicable: (i) If the Participant has not elected to defer receipt of such Shares pursuant to the terms of the Koppers Holdings Inc. Director Deferred Compensation Plan (the “Director Deferred Compensation Plan”), the Vesting Date (or upon the date of earlier vesting pursuant to a Change in Control or termination of Service, if so provided herein). The actual issuance of such Shares pursuant to this clause (i) shall be effected on the applicable Issue Date or as soon as administratively practicable thereafter, but in no event later than the close of the calendar year in which such Issue Date occurs or (if later) the fifteenth day of the third calendar month following such Issue Date. OR (ii) If the Participant has elected to defer receipt of such Shares pursuant to the terms of the Director Deferred Compensation Plan, the date(s) determined pursuant to such election and the terms of the Director Deferred Compensation Plan. Each date on which Shares are issued pursuant to this Agreement is referred to as an “Issue Date”.In no event, however, shall any fractional shares be issued under this Agreement, including by reason of Paragraph 4. Accordingly, the total number of shares of Common Stock to be issued pursuant to the Award shall, to the extent necessary, be rounded down to the next whole share in order to avoid the issuance of a fractional share.