Settlement of Deferred Share Units Clause Samples

Settlement of Deferred Share Units. Subject to Section 7(d), the Company shall deliver to the Director one share of Stock, in settlement of each outstanding Deferred Share Unit that is vested as of the Director’s Termination of Service, within 90 days after such Termination of Service or, if payment is required to be delayed past such date pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) because the Director is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(1) of the Code and the regulations thereunder, on the first business day following the six- month anniversary of the Director’s Termination of Service, or as soon thereafter as practicable (but no later than December 31 of such year), in each case by either (A) issuing one or more stock certificates evidencing the Stock to the Director, or (B) registering the issuance of the Stock in the name of the Director through a book entry credit in the records of the Company’s transfer agent. No fractional shares of stock shall be issued in respect of Deferred Share Units. Fractional Deferred Share Units shall be settled through a cash payment equal to the Fair Market Value of the Stock on the settlement date. Upon a Change in Control Deferred Share Units shall have the treatment set forth in the Plan. Any Deferred Share Units that are not vested as of the Director’s Termination of Service shall be forfeited immediately upon such Termination of Service.
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Settlement of Deferred Share Units. Subject to Section 6(d), the Company shall deliver to the Director one share of Stock, in settlement of each outstanding Deferred Share Unit 90 days after your Termination of Service or, if payment is required to be delayed past such date pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) because the Director is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(1) of the Code and the regulations thereunder, on the first business day following the six-month anniversary of the Director’s Termination of Service, or as soon thereafter as practicable (but no later than December 31 of such year), in each case by either (A) issuing one or more stock certificates evidencing the Stock to the Director, or (B) registering the issuance of the Stock in the name of the Director through a book entry credit in the records of the Company’s transfer agent. No fractional shares of stock shall be issued in respect of Deferred Share Units. Fractional Deferred Share Units shall be settled through a cash payment equal to the Fair Market Value of the Stock on the settlement date. Upon a Change in Control Deferred Share Units shall have the treatment set forth in the Plan.
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Settlement of Deferred Share Units. In making this election, the following rules apply: • On , , Blockbuster Inc. (the “Company”) will grant you a number of Deferred Share Units equal to the portion of your annual stock retainer fee for the period beginning , and ending (and including) , , divided by the Fair Market Value (as defined in the Plan) of the Company’s authorized Class A common stock, par value $0.01 per share (the “Stock”) (the “ Date of Grant”). • On the Date of Grant, the Company will grant to you a number of Deferred Share Units equal to the portion of your annual stock retainer fee for the period beginning , and ending (and including) , , divided by the Fair Market Value (as defined in the Plan) of the Company’s Stock on the Date of Grant (the “ Grant”). The Grant will also include a number of Deferred Share Units equal to the percentage of your (a) annual cash retainer fee, (b) annual committee chair retainer fee (if applicable), and/or (c) board or committee meetings fees deferred pursuant to your election above for the period beginning , and ending (and including) , , divided by the Fair Market Value (as defined in the Plan) of the Company’s Stock on the Date of Grant. • On the Date of Grant, the Company will grant to you a number of Deferred Share Units equal to the portion of your annual stock retainer fee for the period beginning , and ending (and including) , , divided by the Fair Market Value (as defined in the Plan) of the Company’s Stock on the Date of Grant (the “ Grant”). The Grant will also include a number of Deferred Share Units equal to the percentage of your (a) annual cash retainer fee, (b) annual committee chair retainer fee (if applicable), and/or (c) board or committee meetings fees deferred pursuant to your election above for the period beginning , and ending (and including) , , divided by the Fair Market Value (as defined in the Plan) of the Company’s Stock on the Date of Grant. • The Deferred Share Units granted on the Date of Grant, the Date of Grant, and the Date of Grant will be each granted pursuant to a separate Deferred Share Unit Agreement (the “Agreements”) and will be subject to the terms of this Election Form, the Plan, and your Agreements. • You must select below a settlement date as of which you will receive the shares of Stock related to the Agreements. Please be aware that your election below will govern all three Agreements. • Your Deferred Share Units will be settled in shares of Stock upon the later of the date you cease to serve as a ...
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Settlement of Deferred Share Units 
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Related to Settlement of Deferred Share Units

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.

  • Settlement of Restricted Stock Units Subject to the terms of the Plan and this Agreement, Restricted Stock Units shall be settled in Shares, provided that Participant has satisfied any Tax-Related Items pursuant to Section 8 below. Shares will be issued to Participant within 70 days following the applicable Vesting Date unless subject to the terms of the Company’s deferred compensation plan; provided, however, that if the Participant is subject to taxation in the U.S. (a “U.S. Taxpayer”), the Restricted Stock Units vest pursuant to Section 1.6 below and the Restricted Stock Units are considered “non-qualified deferred compensation” subject to Section 409A of the Code (“Code Section 409A,” and such compensation, “Deferred Compensation”), the Shares will be issued in accordance with the following schedule: (i) if the termination event giving rise to the vesting acceleration occurs prior to the Change in Control and the Change in Control constitutes a “change in control event” (within the meaning of U.S. Treasury Regulation 1.409A-3(i)(5)(i)) (a “409A CIC”), the Shares will be issued on the date of the Change in Control, and if the Change in Control does not constitute a 409A CIC, the Shares will be issued on the date that is six months following the Participant’s “separation from service” (within the meaning of Code Section 409A) (a “Separation from Service”); (ii) if the termination event giving rise to the vesting acceleration occurs on or following the Change in Control and the Change in Control constitutes a 409A CIC, then the Shares will be issued within 30 days following the Participant’s Separation from Service, and if the Change in Control is not a 409A CIC, then the Shares will be issued on the date that is six months following the Participant’s Separation from Service. Notwithstanding the foregoing, for purposes of complying with Code Section 409A, if the Participant is a U.S. Taxpayer, the Restricted Stock Units are considered Deferred Compensation and the Restricted Stock Units are to be settled in connection with a termination contemplated under Section 1.6 below, the Company and the Participant shall take all steps necessary (including with regard to any post-termination services by the Participant) to ensure that a termination contemplated under Section 1.6 constitutes a Separation from Service. In addition, if the Restricted Stock Units are Deferred Compensation, the Restricted Stock Units are settled upon the Participant’s Separation from Service and the Participant is a “specified employee,” within the meaning of Code Section 409A, on the date the Participant experiences a Separation from Service, then the Shares will be issued on the first business day of the seventh month following the Participant’s Separation from Service, or, if earlier, on the date of the Participant’s death, to the extent such delayed payment is required in order to avoid a prohibited distribution under Code Section 409A.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Restricted Share Units Restricted Share Units means Restricted Share Units granted to Participant under the Plan subject to such terms and conditions as the Committee may determine at the time of issuance.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.