Common use of Dividend Equivalent Payment Clause in Contracts

Dividend Equivalent Payment. After a Vesting Date, Grantee shall be paid in cash the accumulated amount equivalent to the dividends which would have been paid on such Shares underlying the Performance Stock Units to the extent the Company’s Board of Directors had approved and declared a dividend on its capital stock. Such dividend equivalent amount shall be paid during that month following that Vesting Date. Subject to paragraph 2 above, the dividend equivalent payment shall be forfeited for any Performance Stock Units that do not vest or are terminated in accordance with paragraph 2.

Dividend Equivalent Payment. After a Vesting Date, Grantee shall be paid in cash the accumulated amount equivalent to the dividends which would have been paid on such Shares underlying the Performance Restricted Stock Units to the extent the Company’s Board of Directors had approved and declared a dividend on its capital stock. Such dividend equivalent amount shall be paid during that the month following that the applicable Vesting Date. Subject to paragraph 2 above5 below, the dividend equivalent payment shall be forfeited for any Performance Restricted Stock Units that do not vest or are terminated in accordance with under paragraph 25.

Dividend Equivalent Payment. After a Vesting Date, Grantee shall be paid in cash the accumulated amount equivalent to the dividends which would have been paid on such Shares underlying the Performance Restricted Stock Units to the extent the Company’s Board of Directors had approved and declared a dividend on its capital stockCapital Stock. Such dividend equivalent amount shall be paid during that the month following that the applicable Vesting Date. Subject to paragraph 2 above5 below, the dividend equivalent payment shall be forfeited for any Performance Restricted Stock Units that do not vest or are terminated in accordance with under paragraph 25.

Dividend Equivalent Payment. After a Vesting Date, Grantee shall be paid in cash the accumulated amount equivalent to the dividends which would have been paid on such Shares underlying the LTI Grant Agreement 2 Performance Stock Units to the extent the Company’s Board of Directors had approved and declared a dividend on its capital stockCapital Stock. Such dividend equivalent amount shall be paid during that month following that Vesting Date. Subject to paragraph 2 above, the dividend equivalent payment shall be forfeited for any Performance Stock Units that do not vest or are terminated in accordance with paragraph 2.