Common use of Dividend Equivalent Rights; No Voting Clause in Contracts

Dividend Equivalent Rights; No Voting. During the period prior to vesting, dividend equivalents will accrue with respect to the RSUs corresponding to the amount of any dividend paid by the Corporation for the applicable dividend payment date. Such dividend equivalents will be paid in cash to the Grantee without interest pursuant to Section 4 of this Agreement if and to the extent that the underlying RSUs become vested as provided in this Agreement. In the event that the Grantee receives any additional RSUs as an adjustment with respect to the RSUs granted under this Agreement, such additional RSUs will be subject to the same restrictions as if granted under this Agreement as of the Grant Date and paid pursuant to Section 4 of this Agreement. During the period prior to vesting, the Grantee shall not be entitled to vote any shares represented by the RSUs. “Corporation”, when used herein with reference to employment of the Grantee, shall include any Affiliate of the Corporation.

Appears in 5 contracts

Samples: Restricted Stock Unit Agreement (Bank of New York Mellon Corp), Restricted Stock Unit Agreement (Bank of New York Mellon Corp), Restricted Stock Unit Agreement (Bank of New York Mellon Corp)

AutoNDA by SimpleDocs

Dividend Equivalent Rights; No Voting. During the period prior to vesting, dividend equivalents will accrue shall be determined with respect to the RSUs corresponding to PSUs as if reinvested as additional PSUs on the amount of any dividend paid by the Corporation for the applicable dividend payment date. Such dividend equivalents will date and shall be paid in cash to the Grantee without interest pursuant to Section 4 of this Agreement only if and to the extent that the underlying RSUs PSUs become vested as provided in this Agreement, and any remaining dividend equivalents shall be forfeited. In the event that the Grantee receives any additional RSUs PSUs as an adjustment with respect to the RSUs granted under this AgreementGrant Amount, such additional RSUs PSUs will be subject to the same restrictions as if granted under this Agreement as of the Grant Date and paid pursuant to Section 4 of this Agreement. During the period prior to vesting, the Grantee shall not be entitled to vote any shares represented by the RSUsPSUs. “Corporation”, when used herein with reference to employment of the Grantee, shall include any Affiliate of the Corporation.

Appears in 2 contracts

Samples: Performance Share Unit Agreement (Bank of New York Mellon Corp), Performance Share Unit Agreement (Bank of New York Mellon Corp)

AutoNDA by SimpleDocs

Dividend Equivalent Rights; No Voting. During the period prior to vesting, dividend equivalents will accrue shall be determined with respect to the RSUs corresponding to PSUs as if reinvested as additional PSUs on the amount of any dividend paid by the Corporation for the applicable dividend payment date. Such dividend equivalents will date and shall be paid in cash to the Grantee without interest pursuant to Section 4 of this Agreement only if and to the extent that the underlying RSUs PSUs become vested as provided in this Agreement, and any remaining dividend equivalents shall be forfeited. In the event that the Grantee receives any additional RSUs PSUs as an adjustment with respect to the RSUs granted under this AgreementGrant Amount, such additional RSUs PSUs will be subject to the same restrictions as if granted under this Agreement as of the Grant Date and paid pursuant to Section 4 of this Agreement. During the period prior to vesting, the Grantee shall not be entitled to vote any shares represented by the RSUsPSUs. “Corporation”, when used herein with reference to employment of the Grantee, shall include any Affiliate of the Corporation. *Satisfaction of 162(m) threshold was a prerequisite to receive this award [include applicable metrics].

Appears in 1 contract

Samples: Performance Share Unit Agreement (Bank of New York Mellon Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!