Common use of Dividends Paid During Period of Restriction Clause in Contracts

Dividends Paid During Period of Restriction. If cash dividends are paid with respect to any shares of Restricted Stock, such dividends shall be deposited in the Recipient’s name in an escrow or similar account maintained by the Company for this purpose. Such dividends shall be subject to the same Period of Restriction as the shares of Restricted Stock to which they relate. The dividends shall be paid to the Recipient in cash (subject to all applicable tax withholding), without adjustment for interest, as soon as administratively practicable after the date the related shares of Restricted Stock vest. If the related shares of Restricted Stock are forfeited, then any dividends related to such shares shall also be forfeited on the same date. If any dividends on Restricted Stock are paid in shares of Common Stock, the dividend shares shall be subject to the same restrictions as the shares of Restricted Stock with respect to which they were paid, and shall vest or be forfeited in the same manner as the underlying Restricted Stock.

Dividends Paid During Period of Restriction. If cash dividends are paid with respect to any shares of Restricted StockShares, such dividends shall be deposited in the Recipient’s name in an escrow or similar account maintained by the Company for this purpose. Such dividends shall be subject to the same Vesting Period of Restriction as the shares of Restricted Stock Shares to which they relate. The dividends shall be paid to the Recipient in cash (subject to all applicable tax withholding), without adjustment for interest, as soon as administratively practicable after the date the related shares Shares of Restricted Stock vest. If the related shares of Restricted Stock Shares are forfeited, then any dividends related to such shares Shares shall also be forfeited on the same date. If any dividends on Restricted Stock the Shares are paid in shares of Common Stock, the dividend shares shall be subject to the same restrictions as the shares of Restricted Stock Shares with respect to which they were paid, and shall vest or be forfeited in the same manner as the underlying Restricted StockShares.