Dividend Equivalent PSUs Sample Clauses
Dividend Equivalent PSUs. Subject to the terms and conditions of the Plan and this Agreement, where cash dividends are paid by the Corporation on the Shares between the Grant Date and the Committee Meeting Date in respect of the Performance Period, the Corporation shall notionally credit additional Dividend Equivalent PSUs to the Participant’s PSU Account. The number of such Dividend Equivalent PSUs (including fractional PSUs) to be credited in respect of each dividend record date will be calculated by dividing the cash dividends that would have been paid to the Participant if the corresponding PSUs applicable to the Performance Period had been Shares held by the Participant on such dividend record date, by the closing price per Share on the applicable Stock Exchange on the immediately preceding Trading Day of the dividend payment date for such cash dividends. The number and/or value of such Dividend Equivalent PSUs (as applicable) shall be determined by the Corporation prior to the Vesting Date relative to any Vested PSUs applicable to the Performance Period. Where applicable, Dividend Equivalent PSUs shall vest and be paid at the same time as the Vested PSUs to which they relate.
Dividend Equivalent PSUs. When cash dividends are paid by the Corporation on the Shares between the Grant Date and the Committee Meeting Date, the Corporation shall credit to Participant’s account additional dividend equivalent PSUs (“DEUs”) with respect to the PSUs in accordance with this Section 3. The number of DEUs (including fractional DEUs) to be credited in respect of each dividend record date will be calculated by dividing the aggregate amount of the cash dividend that would have been paid to the Participant if the PSUs and DEUs outstanding at such dividend record date had been Shares held by the Participant on such dividend record date, by the closing price per Share on the Applicable Exchange on the Trading Day immediately preceding the dividend payment date for such cash dividend. DEUs shall be subject to the same terms and conditions as the PSUs and shall vest and be settled at the same time and in the same manner as the PSUs to which they relate. Fractional DEUs shall be rounded up to the nearest whole number as of the date of settlement.
Dividend Equivalent PSUs. With respect to any cash dividend paid by the Company with respect to Shares for which the record date occurs while the Award remains outstanding, on the payment date of such dividend the number of PSUs then underlying the Award shall be increased by a number of additional dividend equivalent PSUs equal to the quotient of (a) the product of (i) the dollar amount of the cash dividend paid per Share on such date, multiplied by (ii) the number of PSUs that remain outstanding and subject to the Award as of such date, divided by (b) the closing price of a Share on The Nasdaq Global Select Market on such date. Any such additional dividend equivalent PSUs shall be subject to the same terms and conditions, and shall be become earned and vested, and be settled or forfeited, in the same and at the same time, as the PSUs with respect to which they have been credited.