Common use of Dividend Equivalent Shares Clause in Contracts

Dividend Equivalent Shares. On the date that the Company pays a cash dividend to holders of Stock generally, the Participant shall be credited with a number of additional whole Dividend Equivalent Shares determined by dividing (a) the product of (i) the dollar amount of the cash dividend paid per share of Stock on such date and (ii) the total number of Performance Shares and Dividend Equivalent Shares previously credited to the Participant pursuant to the Award and which have not been settled or forfeited pursuant to Section 5.2 as of such date, by (b) the Fair Market Value per share of Stock on such date. Any resulting fractional Dividend Equivalent Share shall be rounded to the nearest whole number. Such additional Dividend Equivalent Shares shall be subject to the same vesting and other terms and conditions and shall be settled or forfeited in the same manner and at the same time as the Performance Shares originally subject to the Award with respect to which they have been credited.