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Common use of Grant of the Award Clause in Contracts

Grant of the Award. The Award of Restricted Stock Units is subject to the terms and conditions set forth in this Agreement and the Plan as provided in the Award Notice. (a) In addition, as of each date as of which the Company pays a dividend on Shares before the date (the “Payment Date”) payment is due in respect of the Restricted Stock Units in accordance with Section 3(a) hereof, the Company will grant to the Grantee an additional number of Restricted Stock Units (the “Dividend Equivalent Restricted Stock Units”) equal to (x) the product of (i) the dividend per Share payable on the record date relating to such dividend payment date, and (ii) the number of Restricted Stock Units held by the Grantee on such dividend payment date subject to this Agreement, divided by (y) the Fair Market Value of a Share on the dividend payment date. Dividend Equivalent Restricted Stock Units shall become vested (or be forfeited) at the same time and on the same conditions as the Restricted Stock Units to which they relate. Except as provided in this Section 2(a), Dividend Equivalent Restricted Stock Units will be subject to all of the terms and conditions of this Agreement and all references in this Agreement to Restricted Stock Units shall include Dividend Equivalent Restricted Stock Units unless the context requires otherwise. (b) The number of Restricted Stock Units and any Dividend Equivalent Restricted Stock Units shall be subject to adjustment as provided in Section 16 of the Plan.

Appears in 3 contracts

Sources: Restricted Stock Unit Award Agreement (Centrus Energy Corp), Restricted Stock Unit Award Notice (Usec Inc), Restricted Stock Unit Award Notice (Usec Inc)

Grant of the Award. (a) . (a) The Award Company from time to time will grant to the Participant Awards (the “Awards”) of Restricted Stock Units is (the “Restricted Stock Units”) in the amounts, on the dates of grant, and labeled as “annual retainers and meeting fees,” in each case as set forth in Exhibit A hereto, subject to the terms and conditions set forth in this Agreement and the Plan as provided in the Award NoticePlan. (ab) In addition, as of each date as of which the Company pays a dividend on Shares before the date (the “Payment Date”) payment is due in respect of the Restricted Stock Units in accordance with Section 3(a2(a) hereof, the Company will grant to the Grantee Participant an additional number of Restricted Stock Units (the “Dividend Equivalent Restricted Stock Units”) equal to (xa) the product of (i) the dividend per Share payable on the record date relating to such dividend payment date, and (ii) the number of Restricted Stock Units held by the Grantee Participant on such dividend payment date subject to this Agreementdate, divided by (yb) the Fair Market Value of a Share on the dividend payment date. Dividend Equivalent Restricted Stock Units shall become vested (or be forfeited) at the same time and on the same conditions as the Restricted Stock Units to which they relate. Except as provided in this Section 2(a), 1(b) Dividend Equivalent Restricted Stock Units will be subject to all of the terms and conditions of this Agreement and all references in this Agreement to Restricted Stock Units shall include Dividend Equivalent Restricted Stock Units unless the context requires otherwise. (bc) The number of Restricted Stock Units and any Dividend Equivalent Restricted Stock Units shall be subject to adjustment as provided in Section 16 4(b) of the Plan.

Appears in 1 contract

Sources: Restricted Stock Unit Award Agreement (Usec Inc)

Grant of the Award. (a) The Award Company from time to time will grant to the Participant Awards (the “Awards”) of Restricted Stock Units is (the “Restricted Stock Units”) in the amounts, on the dates of grant, and labeled as “annual retainer”, “annual RSU grant”, “meeting fees” or otherwise in each case as set forth in Exhibit A hereto, subject to the terms and conditions set forth in this Agreement and the Plan as provided in the Award NoticePlan. (ab) In addition, as of each date as of which the Company pays a dividend on Shares before the date (the “Payment Date”) payment is due in respect of the Restricted Stock Units in accordance with Section 3(a2(a) hereof, the Company will grant to the Grantee Participant an additional number of Restricted Stock Units (the “Dividend Equivalent Restricted Stock Units”) equal to (xi) the product of (iA) the dividend per Share payable on the record date relating to such dividend payment date, and (iiB) the number of Restricted Stock Units held by the Grantee Participant on such dividend payment date subject to this Agreementdate, divided by (yii) the Fair Market Value of a Share on the dividend payment date. Dividend Equivalent Restricted Stock Units shall become vested (or be forfeited) at the same time and on the same conditions as the Restricted Stock Units to which they relate. Except as provided in this Section 2(a), 1(b) Dividend Equivalent Restricted Stock Units will be subject to all of the terms and conditions of this Agreement and all references in this Agreement to Restricted Stock Units shall include Dividend Equivalent Restricted Stock Units unless the context requires otherwise. (bc) The number of Restricted Stock Units and any Dividend Equivalent Restricted Stock Units shall be subject to adjustment as provided in Section 16 4(b) of the Plan.

Appears in 1 contract

Sources: Restricted Stock Unit Award Agreement (Usec Inc)

Grant of the Award. (a) . (a) The Award Company from time to time will grant to the Participant Awards (the “Awards”) of Restricted Stock Units is (the “Restricted Stock Units”) in the amounts, on the dates of grant, and labeled as “incentive restricted stock unit awards,” in each case as set forth in Exhibit A hereto, subject to the terms and conditions set forth in this Agreement and the Plan as provided in the Award NoticePlan. (ab) In addition, as of each date as of which the Company pays a dividend on Shares before the date (the “Payment Date”) payment is due in respect of the Restricted Stock Units in accordance with Section 3(a2(a) hereof, the Company will grant to the Grantee Participant an additional number of Restricted Stock Units (the “Dividend Equivalent Restricted Stock Units”) equal to (xa) the product of (i) the dividend per Share payable on the record date relating to such dividend payment date, and (ii) the number of Restricted Stock Units held by the Grantee Participant on such dividend payment date subject to this Agreementdate, divided by (yb) the Fair Market Value of a Share on the dividend payment date. Dividend Equivalent Restricted Stock Units shall become vested (or be forfeited) at the same time and on the same conditions as the Restricted Stock Units to which they relate. Except as provided in this Section 2(a), 1(b) Dividend Equivalent Restricted Stock Units will be subject to all of the terms and conditions of this Agreement and all references in this Agreement to Restricted Stock Units shall include Dividend Equivalent Restricted Stock Units unless the context requires otherwise. (bc) The number of Restricted Stock Units and any Dividend Equivalent Restricted Stock Units shall be subject to adjustment as provided in Section 16 4(b) of the Plan.

Appears in 1 contract

Sources: Restricted Stock Unit Award Agreement (Usec Inc)

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