Additional Payments upon Vesting Sample Clauses
The 'Additional Payments upon Vesting' clause establishes that certain extra payments will be made to a party when specific vesting conditions are met, typically relating to equity, benefits, or compensation. In practice, this means that once an employee’s stock options or other rights have vested according to the agreed schedule, they become entitled to receive additional monetary amounts or benefits beyond the original grant. This clause ensures that individuals are rewarded for meeting long-term commitments or performance milestones, thereby incentivizing retention and aligning interests between the parties.
Additional Payments upon Vesting. On any date that any Unvested Restricted Equity Units become Vested Restricted Equity Units, Executive shall be entitled to receive an amount (such amount, the “Unvested Distribution Equivalent Payment” and, together with the Vested Distribution Equivalent Payment, the “Distribution Equivalent Payment”) equal to the product of (x) all amounts then credited to Executive’s Notional Account multiplied by (y) a fraction, the numerator of which shall be the number of Restricted Equity Units that became Vested Restricted Equity Units on such date and denominator of which shall be the total number of Unvested Restricted Equity Units immediately prior to such date. Upon payment of any Unvested Distribution Equivalent Payment, the amount credited to the Notional Account shall be reduced thereby.
Additional Payments upon Vesting. On any date that any Unvested RSUs become Vested RSUs, or Unvested PSUs become Vested PSUs, Executive shall be entitled to receive an amount (such amount, the “Unvested Distribution Equivalent Payment”) equal to the product of (x) all amounts then credited to Executive’s Notional Account multiplied by (y) a fraction, the numerator of which shall be the number of RSUs and/or PSUs that became Vested RSUs and/or Vested PSUs on such date and denominator of which shall be the total number of Unvested RSUs and Unvested PSUs (at Stretch) immediately prior to such date. Upon payment of any Unvested Distribution Equivalent Payment, the amount credited to the Notional Account shall be reduced thereby.
Additional Payments upon Vesting. On any date that any unvested RSUs become vested RSUs, Director shall be entitled to receive an amount (such amount, the “Unvested Distribution Equivalent Payment”) equal all amounts then credited to Director’s Notional Account with respect to the such vested RSUs. Upon payment of any Unvested Distribution Equivalent Payment, the amount credited to the Notional Account shall be reduced thereby.
Additional Payments upon Vesting. On any date that any unvested DSUs become vested DSUs, Director shall be entitled to receive an amount (such amount, the “Unvested Distribution Equivalent Payment”) equal to all amounts then credited to Director’s Notional Account with respect to the such vested DSUs. Upon payment of any Unvested Distribution Equivalent Payment, the amount credited to the Notional Account shall be reduced thereby.
Additional Payments upon Vesting. On the date that the Unvested Restricted Equity Units held hereunder become Vested Restricted Equity Units, Executive shall be entitled to receive an amount (such amount, the “Unvested Distribution Equivalent Payment” and, together with the Vested Distribution Equivalent Payment, the “Distribution Equivalent Payment”) equal to the balance of the Notional Account. Upon payment of the Unvested Distribution Equivalent Payment, the amount credited to the Notional Account shall be reduced thereby.