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Common use of Dividend Equivalent Payments Clause in Contracts

Dividend Equivalent Payments. (a) As of each dividend payment date with respect to Stock, Participant shall be entitled to a Dividend Equivalent Payment (as defined below) in an amount equal to (i) the dividend paid with respect to a share of Stock, multiplied by (ii) the number of shares of Stock subject to the Award, if any, that are outstanding on the applicable dividend record date with respect to such dividend payment date. Unless otherwise set forth in the Country Appendix, Dividend Equivalent Payments with respect to outstanding shares of Stock subject to the Award generally shall be paid at the same time and in the same form that dividends are paid on Stock; provided, however, that any Dividend Equivalent Payment to which Participant is entitled for any calendar year shall be paid no later than March 15 of the year following the year in which the corresponding dividend record date on the Stock occurs. The Committee may prospectively change the method of crediting dividend equivalents as it, in its sole discretion, determines appropriate from time to time provided that such change does not have a material adverse tax effect on Participant. (b) The right to Dividend Equivalent Payments under this Award Agreement does not constitute an award of Stock, and nothing in this Award Agreement shall be construed as giving Participant any rights as a shareholder of Prologis prior to payment of the Stock subject to the Restricted Stock Units or Dividend Equivalent Payments (if paid in Stock). (c) For purposes of this Award Agreement, “Dividend Equivalent Payment” means, for each share of Stock represented by an outstanding Restricted Stock Unit, a payment in an amount equal to, and in the same form of payment as, the dividend paid on one share of Stock, except as otherwise determined by the Committee or set forth in the Country Appendix.

Appears in 10 contracts

Samples: Restricted Stock Unit Agreement (Prologis, L.P.), Restricted Stock Unit Agreement (Prologis, L.P.), Restricted Stock Unit Agreement (Prologis, L.P.)

Dividend Equivalent Payments. (a) As of each dividend payment date with respect to Stock, Participant shall be entitled to a Dividend Equivalent Payment (as defined below) in an amount equal to (i) the dividend paid with respect to a share of Stock, multiplied by (ii) the number of shares of Stock subject to the Award, if any, that are outstanding on the applicable dividend record date with respect to such dividend payment date. Unless otherwise set forth in the Country Appendix, Dividend Equivalent Payments with respect to outstanding shares of Stock subject to the Award generally shall be paid at the same time and in the same form that dividends are paid on Stock; provided, however, that any Dividend Equivalent Payment to which Participant is entitled for any calendar year shall be paid no later than March 15 of the year following the year in which the corresponding dividend record date on the Stock occurs. The Committee may prospectively change the method of crediting dividend equivalents as it, in its sole discretion, determines appropriate from time to time provided that such change does not have a material adverse tax effect on Participant. (b) The right to Dividend Equivalent Payments under this Award Agreement does not constitute an award of Stock, and nothing in this Award Agreement shall be construed as giving Participant any rights as a shareholder of Prologis prior to payment of the Stock subject to the Restricted Stock Units or Dividend Equivalent Payments (if paid in Stock). (c) For purposes of this Award Agreement, “Dividend Equivalent Payment” means, for each share of Stock represented by an outstanding Restricted Stock Unit, a payment in an amount equal to, and in the same form of payment as, the dividend paid on one share of Stock, except as otherwise determined by the Committee or set forth in the Country Appendix.. RSU Agreement (LTIP Unit Option) 3 February 2015

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Prologis, L.P.)

Dividend Equivalent Payments. (a) As of each dividend payment date with respect to StockShares, Participant shall be entitled to a Dividend Equivalent Payment (as defined below) in an amount equal to (ia) the dividend paid with respect to a share of StockShare, multiplied by (iib) the number of shares of Stock Shares subject to the Award, if any, that are outstanding on the applicable dividend record date with respect to such dividend payment date. Unless otherwise set forth in the Country Appendix, Dividend Equivalent Payments with respect to on outstanding shares of Stock Shares subject to the Award generally shall be paid at the same time and in the same form that dividends are paid on StockShares; provided, however, that any Dividend Equivalent Payment to which Participant is entitled for any calendar year shall be paid no later than March 15 of the year following the year in which the corresponding dividend record date on the Stock occursShares occurs (see the Country Appendix for specific exceptions to the payment terms for Dividend Equivalent Payments). The Committee may prospectively change the method of crediting dividend equivalents as it, in its sole discretion, it determines appropriate from time to time provided that such change does not have a material an adverse tax effect on Participant. (ba) The right to Dividend Equivalent Payments under this Award Agreement does not constitute an award of StockShares, and nothing in this Award Agreement shall be construed as giving to give Participant any rights as a shareholder of Prologis ProLogis prior to payment of the Stock Shares subject to the Restricted Stock Share Units or Dividend Equivalent Payments (if paid in StockShares). (cb) For purposes of this Award Agreement, “Dividend Equivalent Payment” means, for each share of Stock Share represented by an outstanding Restricted Stock UnitAward held by Participant, a payment in an amount equal to, and in the same form of payment as, the dividend paid on one share of Stock, except as otherwise determined by the Committee or set forth in the Country AppendixShare.

Appears in 1 contract

Samples: Restricted Share Unit Agreement (Prologis)

Dividend Equivalent Payments. (a) As of each dividend payment date with respect to Stock, Participant shall be entitled to a Dividend Equivalent Payment (as defined below) in an amount equal to (ia) the dividend paid with respect to a share of Stock, multiplied by (iib) the number of shares of Stock subject to the Award, if any, that are outstanding on the applicable dividend record date with respect to such dividend payment date. Unless otherwise set forth in the Country Appendix, Dividend Equivalent Payments with respect to outstanding shares of Stock subject to the Award generally shall be paid at the same time and in the same form that dividends are paid on Stock; provided, however, that any Dividend Equivalent Payment to which Participant is entitled for any calendar year shall be paid no later than March 15 of the year following the year in which the corresponding dividend record date on the Stock occurs. The Committee may prospectively change the method of crediting dividend equivalents as it, in its sole discretion, it determines appropriate from time to time provided that such change does not have a material an adverse tax effect on Participant. (b) The right to Dividend Equivalent Payments under this Award Agreement does not constitute an award of Stock, and nothing in this Award Agreement shall be construed as giving to give Participant any rights as a shareholder of Prologis the Company prior to payment of the Stock subject to the Restricted Stock Units or Dividend Equivalent Payments (if paid in Stock). (c) For purposes of this Award Agreement, “Dividend Equivalent Payment” means, for each share of Stock represented by an outstanding Restricted Stock UnitRSU, a payment in an amount equal to, and in the same form of payment as, the dividend paid on one share of Stock, except as otherwise determined by the Committee or set forth in the Country Appendix.

Appears in 1 contract

Samples: Separation Agreement (Ocz Technology Group Inc)