Common use of Settlement of the RSUs Clause in Contracts

Settlement of the RSUs. Upon vesting of the RSUs as provided in the Award Notice, the Company shall deliver one share of Common Stock to the Participant (or his beneficiary) within 70 days following the applicable vesting date set forth in the Award Notice and such vested RSU shall be cancelled upon such delivery. Notwithstanding the foregoing, the following provisions shall apply: (a) any shares of Common Stock earned and vested due to a termination of service shall be delivered within 70 days following the date of the Participant’s termination of service; and (b) any shares of Common Stock earned and vested as a result of a Change in Control shall be delivered within 70 days following the date of the Change in Control event. If the 70-day period described herein begins in one calendar year and ends in another, the Participant (or his beneficiary) shall not have the right to designate the calendar year of the payment. Further, if calculation of the amount of the payment is not administratively practicable due to events beyond the control of the Participant (or his beneficiary), the payment will be treated as made within the applicable 70-day time period specified herein if the payment is made during the first taxable year of the Participant in which the calculation of the amount of the payment is administratively practicable or otherwise in accordance with Code Section 409A.