Payment of DSUs. Payment of the Director’s Account shall be made in one lump sum on the date that is six (6) months following the date of the Director’s “separation from service” (within the meaning of Treas. Reg. § 1.409A-1(h)). If the New York Stock Exchange (or any successor exchange or stock market on which shares of the Company’s common stock are traded) is not open on such day, then payment shall be made on the next day the New York Stock Exchange (or any successor exchange or stock market on which shares of the Company’s common stock are traded) is open.
Appears in 2 contracts
Sources: Award Agreement for Non Employee Directors Deferred Stock Units (EnerSys), Award Agreement for Non Employee Directors Deferred Stock Units (EnerSys)