Common use of Dividends Equivalents Clause in Contracts

Dividends Equivalents. The Participant shall be entitled to receive dividend equivalents, which represent the right to receive Shares measured by the dividend payable with respect to the corresponding number of unvested PSUs. Dividend equivalents on PSUs will accrue and be reinvested into additional PSUs throughout the three-year Performance Period. Subject to continued employment with the Company, the dividend equivalents shall vest and be settled at the same time and in the same proportion as the PSUs to which they relate. Participants will not be entitled to any dividend equivalent amount on PSUs covered by this Agreement which are not ultimately earned.