Common use of Dividend and Distribution Equivalents Clause in Contracts

Dividend and Distribution Equivalents. The Company shall credit to a bookkeeping account on its records for Employee an amount equal to all dividends and distributions on the Target Shares which would otherwise be payable to the Employee if the Target Shares represented actual Shares, when, as, and if declared and paid on Shares. The accumulated amounts equivalent to dividends and distributions shall be deferred and shall be payable to the Employee when, as and if the Performance Shares vest under Section 3 in the same proportion that the number of Performance Shares that vest bears to the number of Target Shares. Payment shall be made on the date on which the vested Shares are issued as described in the applicable provision of Section 3. Unless otherwise determined by the Committee, all amounts equivalent to dividends and distributions referred to in the immediately preceding sentence, other than equivalents to regular quarterly cash dividends (if any), shall be deemed reinvested in additional Performance Shares at the Fair Market Value of Shares on the date when such dividends and distributions would be paid on Shares and such additional Performance Shares shall be subject to the same Restrictions as apply to the original Performance Shares. As provided above, these additional Performance Shares shall vest in the same proportion that the number Performance Shares that vest bears to the total number of Target Shares. No interest will be credited on any cash amount (if any) of dividends payable at the time of vesting.

Dividend and Distribution Equivalents. The Company shall credit to a bookkeeping account on its records for Employee an amount equal to all dividends and distributions on the Target Shares which would otherwise be payable to the Employee if the Target Shares represented actual Shares, when, as, and if declared and paid on Shares. The accumulated amounts equivalent to dividends and distributions shall be deferred and shall be payable to the Employee when, as and if the Performance Target Shares vest under Section 3 in the same proportion that the number of Performance Target Shares that vest bears to the total number of Target Shares. Payment shall be made on the date on which the vested Shares are issued as described in the applicable provision of Section 3. Unless otherwise determined by the Committee, all amounts equivalent to dividends and distributions referred to in the immediately preceding sentence, other than equivalents to regular quarterly cash dividends (if any), shall be deemed reinvested in additional Performance Shares at the Fair Market Value of Shares on the date when such dividends and distributions would be paid on Shares and such additional Performance Shares shall be subject to the same Restrictions vesting restrictions as apply to the original Performance Shares. As provided above, these The shares of additional Performance Shares shall vest in the same proportion that the number Performance of original Target Shares that vest bears to the total number of original Target Shares. No interest will be credited on any cash amount (if any) of dividends payable at the time of vesting.

Dividend and Distribution Equivalents. The Company shall credit to a bookkeeping account on its records for Employee an amount equal to all dividends and distributions on the Target Shares which would otherwise be payable to the Employee if the Target Shares represented actual Shares, when, as, and if declared and paid on Shares. The accumulated amounts equivalent to dividends and distributions shall be deferred and shall be payable to the Employee when, as and if the Performance Target Shares vest under Section 3 in the same proportion that the number of Performance Target Shares that vest bears to the total number of Target Shares. Payment shall be made on the date on which the vested Shares are issued as described in the applicable provision of Section 3. Unless otherwise determined by the Committee, all amounts equivalent to dividends and distributions referred to in the immediately preceding sentence, other than equivalents to regular quarterly cash dividends (if any), shall be deemed reinvested in additional Performance Shares at the Fair Market Value of Shares on the date when such dividends and distributions would be paid on Shares and such additional Performance Shares shall be subject to the same Restrictions vesting restrictions as apply to the original Performance Shares. As provided above, these The additional Performance Shares shall vest in the same proportion that the number Performance of original Target Shares that vest bears to the total number of original Target Shares. No interest will be credited on any cash amount (if any) of dividends payable at the time of vesting.