Common use of Restricted Share Unit Award Clause in Contracts

Restricted Share Unit Award. II-VI hereby grants to the Recipient an Award of Restricted Share Units under the Plan, as specified in the applicable Summary of Award, subject to the terms, conditions and restrictions set forth in this Agreement (this “Award”). For the purposes of this Agreement, a “Restricted Share Unit” is the contingent right to receive the equivalent of one (1) Share, in the event the Restricted Share Unit vests and becomes payable pursuant to the terms of this Agreement. Restricted Share Units shall be payable solely in Shares provided, however, that Restricted Share Units may be settled in cash based on the Fair Market Value as of the date of the vesting event.

Restricted Share Unit Award. II-VI hereby grants to the Recipient an Award of Restricted Share Units under the Plan, as specified in the applicable Summary of AwardEmployee Grant Details, subject to the terms, conditions and restrictions set forth in this Agreement (this “Award”). For the purposes of this Agreement, a “Restricted Share Unit” is the contingent right to receive the equivalent value of one (1) Share, in the event the Restricted Share Unit vests and becomes payable pursuant to the terms of this Agreement. Restricted Share Units shall be payable and settled solely in Shares provided, however, that Restricted Share Units may be settled in cash based on the Fair Market Value as of the date of the vesting event.