Common use of Distributions and Adjustments Clause in Contracts

Distributions and Adjustments. (a) If any Award Shares vest subsequent to any change in the number or character of the shares of Common Stock (through any stock dividend or other distribution, recapitalization, stock split, reverse stock split, reorganization, merger consolidation, split-up, spin-off, combination, repurchase or exchange of shares or otherwise) occurring after the Agreement Date, the Recipient shall then receive upon such vesting the number and type of securities or other consideration which the Recipient would have received if such Award Shares had been Vested Earned Shares prior to the event changing the number or character of the outstanding shares of Common Stock. (b) Any additional shares of Common Stock, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed with respect to the Award Shares prior to the date or dates the Award Shares became Vested Earned Shares shall be subject to the same restrictions, terms and conditions as the Award Shares to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. To the extent that the Award Shares are forfeited under Section 3 above, prior to vesting, the right to receive such distributions shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the Award Shares prior to becoming Vested Earned Shares shall be reinvested in shares of Common Stock, which shall be subject to the same restrictions, terms and conditions as the Award Shares to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. To the extent that the Award Shares are forfeited prior to becoming Vested Earned Shares, the right to receive such Award Shares shall also be forfeited. After Award Shares become Vested Earned Shares, any subsequent cash dividends or other cash distributions payable in respect of those Vested Earned Shares shall be distributed to the Recipient at the same time cash dividends or other cash distributions are distributed to shareholders of the Company generally.

Appears in 2 contracts

Samples: Performance Based Restricted Stock Agreement, Performance Based Restricted Stock Agreement (Endurance International Group Holdings, Inc.)

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Distributions and Adjustments. (a) If any Award Shares RSUs vest subsequent to any change in the number or character of the shares of Common Stock of the Company (through any stock dividend or other distribution, recapitalization, stock split, reverse stock split, reorganization, merger merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares or otherwise) occurring after the Agreement Grant Date, the Recipient you shall then receive upon such vesting the number and type of securities or other consideration which the Recipient you would have received if such Award Shares RSUs had been Vested Earned Shares vested prior to the event changing the number or character of the outstanding shares of Common Stock. (b) Any additional shares of Common Stock, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed with respect to the Award Shares shares of Common Stock underlying the RSUs prior to the date or dates the Award Shares became Vested Earned Shares RSUs vest shall be subject to the same restrictions, terms and conditions as the Award Shares RSUs to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. To Any such accumulated distributions shall be distributed to you in accordance with Section 8 hereof. If the extent that the Award Shares RSUs are forfeited under Section 3 above, prior to vesting, the right to receive any accumulated distributions payable in respect of such distributions RSUs shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the Award Shares prior to becoming Vested Earned Shares shall be reinvested in shares of Common Stock, which Stock underlying the RSUs prior to the vesting of the RSUs shall be subject distributed to you upon the same restrictionsvesting of the RSUs in the amount originally declared, terms and conditions as the Award Shares to which they relate and without interest. Any such accumulated cash dividends or other cash distributions shall be promptly deposited distributed to you in accordance with Section 8 hereof. If the Secretary of the Company or a custodian designated by the Secretary. To the extent that the Award Shares RSUs are forfeited prior to becoming Vested Earned Shares, the right to receive such Award Shares shall also be forfeited. After Award Shares become Vested Earned Sharesvesting, any subsequent accumulated cash dividends or other cash distributions payable in respect of those Vested Earned Shares such RSUs shall also be distributed to the Recipient at the same time cash dividends or other cash distributions are distributed to shareholders of the Company generallyforfeited.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Darden Restaurants Inc), Restricted Stock Unit Award Agreement (Darden Restaurants Inc)

Distributions and Adjustments. (a) If any Award Shares RSUs vest subsequent to any change in the number or character of the shares of Common Stock of the Company (through any stock dividend or other distribution, recapitalization, stock split, reverse stock split, reorganization, merger merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares or otherwise) occurring after the Agreement Grant Date, the Recipient you shall then receive upon such vesting the number and type of securities or other consideration which the Recipient you would have received if such Award Shares RSUs had been Vested Earned Shares vested prior to the event changing the number or character of the outstanding shares of Common Stock. (b) Any additional shares of Common Stock, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed with respect to the Award Shares shares of Common Stock underlying the RSUs prior to the date or dates the Award Shares became Vested Earned Shares RSUs vest shall be subject to the same restrictions, terms and conditions as the Award Shares RSUs to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. To Any such accumulated distributions shall be distributed to you in accordance with Section 6 hereof. If the extent that the Award Shares RSUs are forfeited under Section 3 above, prior to vesting, the right to receive any accumulated distributions payable in respect of such distributions RSUs shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the Award Shares prior to becoming Vested Earned Shares shall be reinvested in shares of Common Stock, which Stock underlying the RSUs prior to the vesting of the RSUs shall be subject distributed to you upon the same restrictionssettlement of the RSUs in the amount originally declared, terms and conditions as the Award Shares to which they relate and without interest. Any such accumulated cash dividends or other cash distributions shall be promptly deposited distributed to you in accordance with Section 6 hereof. If the Secretary of the Company or a custodian designated by the Secretary. To the extent that the Award Shares RSUs are forfeited prior to becoming Vested Earned Shares, the right to receive such Award Shares shall also be forfeited. After Award Shares become Vested Earned Sharesvesting, any subsequent accumulated cash dividends or other cash distributions payable in respect of those Vested Earned Shares such RSUs shall also be distributed to the Recipient at the same time cash dividends or other cash distributions are distributed to shareholders of the Company generallyforfeited.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Darden Restaurants Inc), Restricted Stock Unit Award Agreement (Darden Restaurants Inc)

Distributions and Adjustments. (a) If any Award Shares RSUs vest subsequent to any change in the number or character of the shares of Common Stock of the Company (through any stock dividend or other distribution, recapitalization, stock split, reverse stock split, reorganization, merger merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares or otherwise) occurring after the Agreement Grant Date, the Recipient you shall then receive upon such vesting the number and type of securities or other consideration which the Recipient you would have received if such Award Shares RSUs had been Vested Earned Shares vested prior to the event changing the number or character of the outstanding shares of Common Stock. (b) Any additional shares of Common Stock, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed with respect to the Award Shares shares of Common Stock underlying the RSUs prior to the date or dates the Award Shares became Vested Earned Shares RSUs vest shall be subject to the same restrictions, terms and conditions as the Award Shares RSUs to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. To Any such accumulated distributions shall be distributed to you in accordance with Section 7 hereof. If the extent that the Award Shares RSUs are forfeited under Section 3 above, prior to vesting, the right to receive any accumulated distributions payable in respect of such distributions RSUs shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the Award Shares prior to becoming Vested Earned Shares shall be reinvested in shares of Common Stock, which Stock underlying the RSUs prior to the vesting of the RSUs shall be subject distributed to you upon the same restrictionsvesting of the RSUs in the amount originally declared, terms and conditions as the Award Shares to which they relate and without interest. Any such accumulated cash dividends or other cash distributions shall be promptly deposited distributed to you in accordance with Section 7 hereof. If the Secretary of the Company or a custodian designated by the Secretary. To the extent that the Award Shares RSUs are forfeited prior to becoming Vested Earned Shares, the right to receive such Award Shares shall also be forfeited. After Award Shares become Vested Earned Sharesvesting, any subsequent accumulated cash dividends or other cash distributions payable in respect of those Vested Earned Shares such RSUs shall also be distributed to the Recipient at the same time cash dividends or other cash distributions are distributed to shareholders of the Company generallyforfeited.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Darden Restaurants Inc)

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Distributions and Adjustments. (a) If any Award Shares vest subsequent to any change in In the number or character of event that the outstanding shares of Common Stock (through any stock dividend other than shares held by dissenting shareholders) shall be changed into, or exchanged for, a different number or kind of shares of Common Stock or other distributionsecurities of the Company, or, if further changes or exchanges of any Common Stock or other securities into which the Common Stock shall have been changed, or for which it shall have been exchanged, shall be made (whether by reason of merger, consolidation, reorganization, recapitalization, stock splitdividend, reverse stock split, reorganization, merger consolidationreclassification, split-up, spin-off, combination, repurchase or exchange combination of shares or otherwise) occurring after the Agreement Date), the Recipient then for each Share, there shall then receive upon such vesting be substituted and exchanged therefor the number and type kind of securities shares of Common Stock or other consideration securities into or for which the Recipient would have received if such Award Shares had been Vested Earned Shares prior to each outstanding share of Common Stock (other than shares held by dissenting shareholders) shall be so changed or exchanged. If in the event changing of any such changes or exchanges in order to prevent dilution or enlargement of rights under this Agreement, it is necessary to make an adjustment in the number or character kind of the outstanding shares Shares, such adjustment shall be made by the Committee and shall be effective and binding for all purposes of Common Stockthis Agreement. (b) Any additional shares of Common Stock, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed with respect to the Award Shares prior to the date or dates the Award Shares became Vested Earned Shares vest shall be subject to the same restrictions, terms and conditions as the Award Shares to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the SecretaryShares. To the extent that the Award Shares are forfeited under Section 3 above, prior to vesting, the right to receive such distributions shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the Award Shares prior to becoming Vested Earned Shares shall be reinvested in shares of Common Stock, which shall be subject to the same restrictions, terms and conditions as the Award Shares to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. To the extent that the Award Shares are forfeited prior to becoming Vested Earned Shares, the right to receive such Award Shares shall also be forfeited. After Award Shares become Vested Earned Shares, any subsequent cash dividends or other cash distributions payable in respect of those Vested Earned Shares shall be distributed to the Recipient Participant at the same time cash dividends or other cash distributions are distributed to shareholders stockholders of the Company generally. (c) Any additional shares of Common Stock, any securities and any another property (except for cash dividends or other cash distributions) distributed with respect to the Shares prior to the date such Shares vest shall be promptly deposited with the Secretary or the custodian designated by the Secretary to be held in custody in accordance with Section 5(c) hereof.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Fingerhut Companies Inc)

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