Dividends Equivalents Clause Example from Business Contracts

Dividends Equivalents. If the Restricted Stock Units are outstanding on the record date for dividends or other distributions with respect to the Common Stock, then (i) if such dividends or distributions are paid - - on or before the Payment Date, the dollar amount or fair market value of such dividends or distributions with respect to the number of shares of Common Stock then underlying the Restricted Stock Units shall be converted into additional Restricted Stock Units in Grantee's name, based on the Fair Market Valu...e of the Common Stock as of the date such dividends or distributions are paid, or (ii) if such dividends or distributions are paid after the Payment Date, Grantee shall receive a cash payment in respect of such dividends or distributions. Any additional restricted stock units pursuant to this Section 5 shall be subject to the same time-vesting conditions and transfer restrictions as apply to the Restricted Stock Units with respect to which they relate. View More