Dividend Equivalent Rights Clause Example with 4 Variations from Business Contracts
This page contains Dividend Equivalent Rights clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Dividend Equivalent Rights. Grantee shall receive dividend equivalent rights in respect of the Restricted Stock Units covered by this Agreement at the time of any payment of dividends to stockholders on Shares. The Restricted Stock Units will be credited with additional Restricted Stock Units (the “Dividend Equivalent Units”) for cash dividends paid on Shares in an amount determined by (i) multiplying the cash dividend paid per Share by the number of Restricted Stock Units (and previously credited Dividend Equivalent Units...) outstanding and unpaid on the dividend record date, and (ii) dividing the product determined above by the Fair Market Value of a Share, in each case, on the dividend record date, (rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). The Restricted Stock Units will be credited with Dividend Equivalent Units for stock dividends paid on Shares by multiplying the stock dividend paid per Share by the number of Restricted Stock Units (and previously credited Dividend Equivalent Units) outstanding and 2 unpaid on the dividend record date (rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). Each Dividend Equivalent Unit will vest and be settled or payable at the same time as, and to the extent of the vesting of, the Restricted Stock Units to which such Dividend Equivalent Unit relates.View More
Variations of a "Dividend Equivalent Rights" Clause from Business Contracts
Dividend Equivalent Rights. Grantee shall receive dividend equivalent rights in respect of the Restricted Stock Units covered by this Agreement at the time of any payment of dividends to stockholders on Shares. The Restricted Stock Units will be credited with additional Restricted Stock Units (the “Dividend Equivalent Units”) (including fractional units) for cash dividends paid on Shares in an amount determined by (i) multiplying the cash dividend paid per Share by the number of Restricted Stock Units (and previously credi...ted Dividend Equivalent Units) outstanding and unpaid on the dividend record date, unpaid, and (ii) dividing the product determined above by the Fair Market Value of a Share, in each case, on the dividend record date, (rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). date. The Restricted Stock Units will be credited with Dividend Equivalent Units for stock dividends paid on Shares by multiplying the stock dividend paid per Share by the number of Restricted Stock Units (and previously credited Dividend Equivalent Units) outstanding and 2 unpaid on the dividend record date (rounded date. Each Dividend Equivalent Unit has a value equal to one Share, and partial Dividend Equivalent Units will be rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). Share. Each Dividend Equivalent Unit will vest and be settled or payable at the same time as, and to the extent of the vesting of, as the Restricted Stock Units to which such Dividend Equivalent Unit relates. View More
Dividend Equivalent Rights. Grantee shall receive dividend equivalent rights in respect of the Restricted Stock Units covered by this Agreement at the time of any payment of dividends to stockholders on Shares. The Restricted Stock Units will be credited with additional Restricted Stock Units (the “Dividend Equivalent Units”) for a cash dividends paid on Shares in an amount determined by (i) multiplying equal to the cash dividend paid per Share by amount that would be payable to the Grantee as a stockholder in respect of a... number of Shares equal to the number of Restricted Stock Units (and previously credited Dividend Equivalent Units) outstanding and unpaid on as of the dividend record date, and (ii) dividing the product determined above by the Fair Market Value of a Share, in each case, on the dividend record date, date (rounded down to the nearest whole share one cent (or such other convention as may be determined by the Committee in its sole discretion)). The Restricted Stock Units will be credited with Dividend additional Restricted Stock Units (“Dividend Equivalent Units Units”) for stock dividends paid on Shares by multiplying the stock dividend paid per Share by the number of Restricted Stock Units (and previously credited Dividend Equivalent Units) outstanding and 2 unpaid on the dividend record date (rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). Each cash dividend equivalent right (or in the case of a stock dividend each Dividend Equivalent Unit Unit) will vest and be settled or payable at the same time as, and to the extent of the vesting of, the Restricted Stock Units to which such dividend equivalent right (or in the case of a stock dividend such Dividend Equivalent Unit Unit) relates. View More
Dividend Equivalent Rights. Grantee shall receive dividend equivalent rights in respect of the Restricted Stock Units RSUs covered by this Agreement Award at the time of any payment of dividends to stockholders on Shares. The Restricted Stock Units At the Company’s option, the RSUs will be credited with either (a) additional Restricted Stock Units units (the “Dividend Equivalent Units”) (including fractional units) for cash dividends paid on Shares in an amount determined shares of the Company’s Common Stock by (i) multipl...ying the cash dividend paid per Share by the number of Restricted Stock Units RSUs (and previously credited Dividend Equivalent Units) outstanding and unpaid on the dividend record date, unpaid, and (ii) (b) dividing the product determined above by the Fair Market Value of a Share, in each case, on the dividend record date, (rounded down or (b) a cash amount equal to the nearest whole share (or such other convention amount that would be payable to the Grantee as may be determined by a stockholder in respect of a number of Shares equal to the Committee in its sole discretion)). number of RSUs and Dividend Equivalent Units then credited to the Grantee hereunder as of the dividend record date. The Restricted Stock Units RSUs will be credited with Dividend Equivalent Units for stock dividends paid on Shares shares of the Company’s Common Stock by multiplying the stock dividend paid per Share by the number of Restricted Stock Units RSUs (and previously credited Dividend Equivalent Units) outstanding and 2 unpaid on the dividend record date (rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). date. Each Dividend Equivalent Unit has a 2 value equal to one Share. Each Dividend Equivalent Unit or cash dividend equivalent right will vest and be settled or payable at the same time as, and to as the extent of the vesting of, the Restricted Stock Units RSU to which such Dividend Equivalent Unit dividend equivalent right relates. For the avoidance of doubt, no dividend equivalent rights shall accrue under this Section 3 in the event that any dividend equivalent rights or other applicable adjustments pursuant to Section 5 hereof provide similar benefits. View More
Dividend Equivalent Rights. Grantee Recipient shall receive dividend equivalent rights in respect of the Restricted Stock Share Units covered by this Agreement at the time of any payment of dividends to stockholders on Shares. The At the Company’s option, the Restricted Stock Share Units will be credited with either (a) additional Restricted Stock Share Units (the “Dividend Equivalent Units”) (including fractional units) for cash dividends paid on Shares in an amount determined by (i) multiplying the cash dividend paid per... Share by the number of Restricted Stock Share Units (and previously credited Dividend Equivalent Units) outstanding and unpaid on the dividend record date, unpaid, and (ii) dividing the product determined above by the Fair Market Value of a Share, in each case, on the dividend record date, (rounded down date; or (b) a cash amount equal to the nearest whole share (or such other convention amount that would be payable to the Recipient as may a stockholder in respect of a number of Shares equal to the number of Restricted Share Units (and previously credited Dividend Equivalent Units) outstanding and unpaid as of the dividend record date; provided, that cash-based dividend equivalent rights described in subparagraph (b) shall be determined by credited unless the Committee in its sole discretion)). affirmatively elects to credit Dividend Equivalent Units. The Restricted Stock Share Units will be credited with Dividend Equivalent Units for stock dividends paid on Shares by multiplying the stock dividend paid per Share by the number of Restricted Stock Share Units (and previously credited Dividend Equivalent Units) outstanding and 2 unpaid on the dividend record date (rounded date. Each Dividend Equivalent Unit has a value equal to one Share, and partial Dividend Equivalent Units will be rounded down to the nearest whole share (or such other convention as may be Share if so determined by the Committee in its sole discretion)). Committee. Each Dividend Equivalent Unit or cash-based dividend equivalent right will vest and be settled or payable at the same time as, and to the extent of the vesting of, as the Restricted Stock Share Units to which such Dividend Equivalent Unit relates. or cash amount relates and shall be forfeited if the underlying Restricted Share Unit does not vest in accordance with this Agreement. View More
