Common use of Award of RSUs and Dividend Equivalents Clause in Contracts

Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to a Participating Company and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company has granted to Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, Participant will have no right to the payment of any Shares subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to Participant an Award of Dividend Equivalents with respect to each RSU granted pursuant to the Grant Notice for all ordinary cash dividends that are paid to all or substantially all holders of the outstanding Shares between the Grant Date and the date when the applicable RSU is distributed or paid to Participant or is forfeited or expires. The Dividend Equivalents for each RSU shall be equal to the amount of cash that is paid as a dividend on one Share. All such Dividend Equivalents shall be credited to Participant and be deemed to be reinvested in additional RSUs as of the date of payment of any such dividend based on the Fair Market Value of a Share on such date. Each additional RSU that results from such deemed reinvestment of Dividend Equivalents granted hereunder shall be subject to the same vesting, distribution or payment, adjustment and other provisions that apply to the underlying RSU to which such additional RSU relates.

Appears in 4 contracts

Samples: Restricted Stock Unit Agreement (Sprout Social, Inc.), Restricted Stock Unit Agreement (Sprout Social, Inc.), Restricted Stock Unit Agreement (Sprout Social, Inc.)

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Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to a Participating Company Group Member and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company has granted to Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, Participant will have no right to the payment common shares of any Shares the Company (“Shares”) subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to Participant an Award of Dividend Equivalents with respect to each RSU granted pursuant to the Grant Notice for all ordinary cash dividends that are paid to all or substantially all holders of the outstanding Shares between the Grant Date and the date when the applicable RSU is distributed or paid to Participant or is forfeited or expires. The Dividend Equivalents for each RSU Participant shall be equal to the amount of cash that is paid as a dividend on one Share. All credited for such Dividend Equivalents shall be credited to with such number of additional RSUs on each dividend payment date for which Participant and be deemed to be reinvested in additional held RSUs as of the record date for the applicable dividend, as results from dividing: (i) the amount obtained by multiplying the amount of payment the dividend declared and paid per Share by the number of any RSUs held by Participant on such dividend based on record date, by (ii) the Fair Market Value of a Share the Shares on such the dividend payment date, with fractions computed to three decimal places. Each additional RSU that results from such deemed reinvestment crediting of Dividend Equivalents granted hereunder shall be subject to the same vesting, distribution or payment, adjustment and other provisions that apply to the underlying RSU to which such additional RSU relates.

Appears in 2 contracts

Samples: Rsu Award Agreement (Li-Cycle Holdings Corp.), Rsu Award Agreement (Li-Cycle Holdings Corp.)

Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to a Participating Company Group Member and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company has granted to Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, Participant will have no right to the payment common shares of any Shares the Company (“Shares”) subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to Participant an Award of Dividend Equivalents with respect to each RSU granted pursuant to the Grant Notice for all ordinary cash dividends that are paid to all or substantially all holders of the outstanding Shares between the Grant Date and the date when the applicable RSU is distributed or paid to Participant or is forfeited or expires. The Dividend Equivalents for each RSU shall be equal to the amount of cash that is paid as a dividend on one Share. All such Dividend Equivalents shall be credited to Participant and be deemed to be reinvested in additional RSUs as of the date of payment of any such dividend based on the Fair Market Value of a Share on such date. Each additional RSU that results from such deemed reinvestment of Dividend Equivalents granted hereunder shall be subject to the same vesting, distribution or payment, adjustment and other provisions that apply to the underlying RSU to which such additional RSU relates.

Appears in 2 contracts

Samples: Rsu Award Agreement (Li-Cycle Holdings Corp.), Restricted Stock Unit Agreement (Li-Cycle Holdings Corp.)

Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to a Participating Company Group Member and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company has granted to Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, Participant will have no right to the payment common shares of any Shares the Company (“Shares”) subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to Participant an Award of Dividend Equivalents with respect to each RSU granted pursuant to the Grant Notice for all ordinary cash dividends that are paid to all or substantially all holders of the outstanding Shares between the Grant Date and the date when the applicable RSU is distributed or paid to Participant or is forfeited or expires. The Dividend Equivalents for each RSU Participant shall be equal to the amount of cash that is paid as a dividend on one Share. All credited for such Dividend Equivalents shall be credited to with such number of additional RSUs on each dividend payment date for which Participant and be deemed to be reinvested in additional held RSUs as of the record date for the applicable dividend, as results from dividing: (i) the amount obtained by multiplying the amount of payment the dividend declared and paid per Share by the number of any RSUs held by Participant on such dividend based on record date, by (ii) the Fair Market Value of a Share the Shares on such the dividend payment date, with fractions computed to three decimal places. Each additional RSU that results from such deemed reinvestment crediting of Dividend Equivalents granted hereunder shall be subject to the same US-LEGAL-11455063/2 176283-0002 vesting, distribution or payment, adjustment and other provisions that apply to the underlying RSU to which such additional RSU relates.

Appears in 1 contract

Samples: Rsu Award Grant Notice and Agreement (Li-Cycle Holdings Corp.)

Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to the Company or a Participating Company Subsidiary and for other good and valuable consideration, effective as of the grant date Grant Date set forth in the Grant Notice (the “Grant Date”), the Company has granted to the Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, the Participant will have no right to the payment of any Shares subject thereto. Prior to the actual delivery of any Shares, the such RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to the Participant an Award of a Dividend Equivalents Award with respect to each RSU granted pursuant to the Grant Notice this Agreement for all ordinary cash dividends that which are paid to all or substantially all holders of the outstanding Shares shares of Stock between the Grant Date and the date when the applicable RSU is distributed or paid to the Participant or is forfeited or expires. The Dividend Equivalents award for each RSU shall be equal to the amount of cash that which is paid as a dividend on one Shareshare of Stock. All such Dividend Equivalents shall be credited to the Participant and be deemed to be reinvested in additional RSUs as of the date of payment of any such dividend based on the Fair Market Value of a Share share of Stock on such date. Each additional RSU that which results from such deemed reinvestment of Dividend Equivalents granted hereunder shall be subject to the same vesting, distribution or payment, adjustment and other provisions that which apply to the underlying RSU to which such additional RSU relates.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (UCI International, Inc.)

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Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to the Company, the Partnership or a Participating Company Subsidiary and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company has granted to the Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, Participant will have no right to the payment of any Shares subject thereto. Prior to the actual delivery of any Shares, the such RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to the Participant an Award of a Dividend Equivalents award with respect to each RSU granted pursuant to the Grant Notice this Agreement for all ordinary quarterly cash dividends that which are paid to all or substantially all holders of the outstanding Shares shares of Stock between the Grant Date and the date when the applicable RSU is distributed or paid to the Participant or is forfeited or expires. The Dividend Equivalents award for each RSU shall be equal to the amount of cash that which is paid as a dividend on one Shareshare of Stock. All such Dividend Equivalents shall be credited to the Participant and be deemed to be reinvested in additional RSUs as of the date of payment of any such dividend based on the Fair Market Value of a Share share of Stock on such date. Each additional RSU that which results from such deemed reinvestment of Dividend Equivalents granted hereunder shall be subject to the same vesting, distribution or payment, adjustment and other provisions that which apply to the underlying RSU to which such additional RSU relates.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (CoreSite Realty Corp)

Award of RSUs and Dividend Equivalents. (a) In consideration of Participant’s past and/or continued employment with or service to a Participating Company Group Member and for other good and valuable consideration, effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company has granted to Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Grant Notice, the Plan and this Agreement, subject to adjustment as provided in Section 12.2 of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, Participant will have no right to the payment shares of any Shares Common Stock (“Shares”) subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company. (b) The Company hereby grants to Participant an Award of Dividend Equivalents with respect to each RSU granted pursuant to the Grant Notice for all ordinary cash dividends that are paid to all or substantially all holders of the outstanding Shares between the Grant Date and the date when the applicable RSU is distributed or paid to Participant or is forfeited or expires. The Dividend Equivalents for each RSU shall be equal to the amount of cash that is paid as a dividend on one Share. All such Dividend Equivalents shall be credited to Participant and be deemed to be reinvested in additional RSUs as of the date of payment of any such dividend based on the Fair Market Value of a Share on such date. Each additional RSU that results from such deemed reinvestment of Dividend Equivalents granted hereunder shall be subject to the same vesting, distribution or payment, adjustment and other provisions that apply to the underlying RSU to which such additional RSU relates.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Acamar Partners Acquisition Corp.)

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