Common use of Dividends and Other Income Clause in Contracts

Dividends and Other Income. In the event a dividend is payable on Common Stock in additional shares of Common Stock, an amount denominated in shares of Common Stock equal to such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement. In the event a dividend on Common Stock is payable in property other than cash or Common Stock, an amount equal to such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement, unless the committee constituted for purposes of section 3.1.2 of the Plan (the “2011 LTIP Committee”) directs that such property be deemed to be reinvested in additional shares of Common Stock. In the event a dividend on Common Stock is payable in cash, such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement. Unless the 2011 LTIP Committee directs otherwise, cash dividends paid with respect to Deferred Stock and any property comprising the Deferred Stock Award payable on or after the Effective Date shall be deemed to be applied to the purchase of additional shares of Common Stock on the dividend payment date, at a price equal to the closing price of the Common Stock on the dividend payment date.

Appears in 2 contracts

Samples: Deferred Stock Award Agreement, Deferred Stock Award Agreement (Nextera Energy Inc)

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Dividends and Other Income. In the event a dividend is payable on Common Stock in additional shares of Common Stock, an amount denominated in shares of Common Stock equal to such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement. In the event a dividend on Common Stock is payable in property other than cash or Common Stock, an amount equal to such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement, unless the committee constituted for purposes of section 3.1.2 2.08 of the Plan (the “2011 LTIP Committee”) directs that such property be deemed to be reinvested in additional shares of Common Stock. In the event a dividend on Common Stock is payable in cash, such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement. Unless the 2011 LTIP Committee directs otherwise, cash dividends paid with respect to Deferred Stock and any property comprising the Deferred Stock Award payable on or after the Effective Date date of amendment and restatement of this Deferred Stock Award (February 11, 2010) shall be deemed to be applied to the purchase of additional shares of Common Stock on the dividend payment date, at a price equal to the closing price of the Common Stock on the dividend payment date.

Appears in 1 contract

Samples: Deferred Stock Award Agreement (FPL Group Inc)

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Dividends and Other Income. In the event a dividend is payable on Common Stock in additional shares of Common Stock, an amount denominated in shares of Common Stock equal to such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement. In the event a dividend on Common Stock is payable in property other than cash or Common Stock, an amount equal to such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement, unless the committee constituted for purposes of section 3.1.2 2.08 of the Plan (the “2011 LTIP Committee”) directs that such property be deemed to be reinvested in additional shares of Common Stock. In the event a dividend on Common Stock is payable in cash, such dividend shall, as of the ex dividend date for such dividend, become part of the Deferred Stock Award for all purposes of this Agreement. Unless the 2011 LTIP Committee directs otherwise, cash dividends paid with respect to Deferred Stock and any property comprising the Deferred Stock Award payable on or after the Effective Date date of amendment and restatement of this Deferred Stock Award (February 11, 2010) shall be deemed to be applied to the purchase of additional shares of Common Stock on the dividend payment date, at a price equal to the closing price of the Common Stock on the dividend payment date. [Mr. Robo] 3.

Appears in 1 contract

Samples: Deferred Stock Award Agreement

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