Common use of Settlement of Performance Shares Clause in Contracts

Settlement of Performance Shares. As soon as reasonably practicable after the Committee has determined the achievement of the Performance Goals and the resulting number of Performance Shares earned (but in no event later than the end of the fiscal year immediately following the end of the Performance Period), the Company will issue one Share in settlement of each Performance Share that has been earned and vested, subject to applicable withholding for taxes. Notwithstanding anything to the contrary in the foregoing, the Company shall not be required to deliver any fractional Shares, but may pay, in lieu thereof, the Fair Market Value of such fractional Shares.

Settlement of Performance Shares. As soon as reasonably practicable after the Committee has determined the achievement of the Performance Goals and the resulting number of Performance Shares earned (but in no event later than the end of the fiscal year immediately following the end of the Performance Period), and subject to the Plan Approval, the Company will issue one Share in settlement of each Performance Share that has been earned and vested, subject to applicable withholding for taxes. Notwithstanding anything to the contrary in the foregoing, the Company shall not be required to deliver any fractional Shares, but may pay, in lieu thereof, the Fair Market Value of such fractional Shares.