Common use of Distributions and Adjustments Clause in Contracts

Distributions and Adjustments. (a) If any RSUs vest subsequent to any change in the number or character of the Common Stock of the Company (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 Grant Date, you shall then receive upon such vesting the number and type of securities or other consideration which you would have received if such RSUs had vested prior to the event changing the number or character of the outstanding 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 shares of Common Stock underlying the RSUs prior to the date or dates the RSUs vest shall be subject to the same restrictions, terms and conditions as the RSUs to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. Any such accumulated distributions shall be distributed to you in accordance with Section 8 hereof. If the RSUs are forfeited prior to vesting, any accumulated distributions payable in respect of such RSUs shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the shares of Common Stock underlying the RSUs prior to the vesting of the RSUs shall be distributed to you upon the vesting of the RSUs in the amount originally declared, without interest. Any such accumulated cash dividends or other cash distributions shall be distributed to you in accordance with Section 8 hereof. If the RSUs are forfeited prior to vesting, any accumulated cash dividends or other cash distributions payable in respect of such RSUs shall also be forfeited.

Appears in 2 contracts

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

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Distributions and Adjustments. (a) If any RSUs Award Shares 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 Grant Agreement Date, you the Recipient shall then receive upon such vesting the number and type of securities or other consideration which you the Recipient would have received if such RSUs Award Shares had vested 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 shares of Common Stock underlying the RSUs Award Shares prior to the date or dates the RSUs vest Award Shares became Vested Earned Shares shall be subject to the same restrictions, terms and conditions as the RSUs Award Shares to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. Any such accumulated distributions shall be distributed to you in accordance with Section 8 hereof. If To the RSUs extent that the Award Shares are forfeited under Section 3 above, prior to vesting, any accumulated the right to receive such distributions payable in respect of such 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 underlying the RSUs prior Stock, which shall be subject to the vesting same restrictions, terms and conditions as the Award Shares to which they relate and shall be promptly deposited with the Secretary of the RSUs shall be distributed to you upon Company or a custodian designated by the vesting of Secretary. To the RSUs in extent that the amount originally declared, without interest. Any such accumulated cash dividends or other cash distributions shall be distributed to you in accordance with Section 8 hereof. If the RSUs Award Shares are forfeited prior to vestingbecoming Vested Earned Shares, the right to receive such Award Shares shall also be forfeited. After Award Shares become Vested Earned Shares, any accumulated subsequent cash dividends or other cash distributions payable in respect of such RSUs those Vested Earned Shares shall also be forfeiteddistributed 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.)

Distributions and Adjustments. (a) If any RSUs vest subsequent to any change in the number or character of the Common Stock of the Company (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 Grant Date, you shall then receive upon such vesting the number and type of securities or other consideration which you would have received if such RSUs had vested prior to the event changing the number or character of the outstanding 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 shares of Common Stock underlying the RSUs prior to the date or dates the RSUs vest shall be subject to the same restrictions, terms and conditions as the RSUs to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. Any such accumulated distributions shall be distributed to you in accordance with Section 8 6 hereof. If the RSUs are forfeited prior to vesting, any accumulated distributions payable in respect of such RSUs shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the shares of Common Stock underlying the RSUs prior to the vesting of the RSUs shall be distributed to you upon the vesting settlement of the RSUs in the amount originally declared, without interest. Any such accumulated cash dividends or other cash distributions shall be distributed to you in accordance with Section 8 6 hereof. If the RSUs are forfeited prior to vesting, any accumulated cash dividends or other cash distributions payable in respect of such RSUs shall also be forfeited.

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 RSUs vest subsequent to any change in the number or character of the Common Stock of the Company (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 Grant Date, you shall then receive upon such vesting the number and type of securities or other consideration which you would have received if such RSUs had vested prior to the event changing the number or character of the outstanding 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 shares of Common Stock underlying the RSUs prior to the date or dates the RSUs vest shall be subject to the same restrictions, terms and conditions as the RSUs to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary. Any such accumulated distributions shall be distributed to you in accordance with Section 8 7 hereof. If the RSUs are forfeited prior to vesting, any accumulated distributions payable in respect of such RSUs shall also be forfeited. (c) Any cash dividends or other cash distributions payable with respect to the shares of Common Stock underlying the RSUs prior to the vesting of the RSUs shall be distributed to you upon the vesting of the RSUs in the amount originally declared, without interest. Any such accumulated cash dividends or other cash distributions shall be distributed to you in accordance with Section 8 7 hereof. If the RSUs are forfeited prior to vesting, any accumulated cash dividends or other cash distributions payable in respect of such RSUs shall also be forfeited.

Appears in 1 contract

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

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Distributions and Adjustments. (a) If all or any RSUs portion of the Award vest in Participant subsequent to any change in the number or character of the shares of Common Stock of the Company (through any stock dividend or other distributiondividend, recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares of Common Stock or otherwiseother securities of the Corporation, issuance of warrants or other rights to purchase shares of Common Stock or other securities of the Corporation or other similar corporate transaction or event affecting the shares such that an adjustment is determined by the Compensation and Benefit Committee of the Board of Directors (the "Committee") occurring after to be appropriate in order to prevent dilution or enlargement of the Grant Dateinterest represented by the shares), you Participant shall then receive upon such vesting the number and type of securities or other consideration which you he would have received if such RSUs the Award had 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 Corporation and any other property (except for cash dividends or other cash distributionsdividends) distributed with respect to the shares of Common Stock underlying the RSUs Award prior to the date or dates the RSUs vest Vesting Date shall be subject to the same restrictions, terms and conditions as the RSUs Award. (c) Any additional shares of Common Stock, any securities and any other property (except for cash dividends) distributed with respect to which they relate and the Award prior to the Vesting Date shall be promptly deposited with the Secretary of or the Company or a custodian designated by the Secretary. Any such accumulated distributions shall Secretary to be distributed to you held in custody in accordance with Section 8 5(c) hereof. If the RSUs are forfeited prior to vesting, any accumulated distributions payable in respect of such RSUs shall also be forfeited. (cd) Any cash The Restricted Stock shall have the rights to dividends or other cash distributions payable with respect dividend equivalents, as applicable, during the Restriction Period. Such dividends or dividend equivalents will accrue during the Restriction Period, but not be paid until restrictions lapse. Subject to the shares aforementioned and issuance of Common Stock underlying dividends or dividend equivalents on the RSUs prior Corporation’s common stock, dividends will be paid in cash. (e) Performance Shares shall have the right to receive dividend equivalents. Such dividend equivalents will accrue during the Performance Cycle and be paid at the Performance Shares Vesting Date based upon achievement of the Performance Goals. Subject to the vesting aforementioned and issuance of the RSUs shall be distributed to you upon the vesting of the RSUs in the amount originally declared, without interest. Any such accumulated cash dividends or other cash distributions shall dividend equivalents on the Corporation’s common stock, dividends will be distributed paid in cash. (f) In the case of Restricted Stock, the Participant will have the right to you in accordance with Section 8 hereof. If vote the RSUs are forfeited prior to vesting, any accumulated cash dividends or other cash distributions payable in respect of such RSUs shall also be forfeitedshares.

Appears in 1 contract

Samples: Long Term Incentive Award Agreement (First Bancorp /Pr/)

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