Common use of Interest on Withheld Cash Dividends Clause in Contracts

Interest on Withheld Cash Dividends. The Key Employee shall be credited and paid an amount equal to the amount that would have accrued on all dividends paid solely or partly in cash and accumulated under Section 3(c)(i) in respect of Stock vested on the Vesting Date, had such amounts earned interest at a rate equal to prime rate as reported in the Wall Street Journal, adjusted and compounded annually, from the date such cash dividends were paid by the Company on such Stock.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (Rayonier Advanced Materials Inc.), Restricted Stock Award Agreement (Rayonier Advanced Materials Inc.), Restricted Stock Award Agreement (Rayonier Advanced Materials Inc.)

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Interest on Withheld Cash Dividends. The Key Employee shall be credited and paid an amount equal to the amount that would have accrued on all dividends paid solely or partly in cash and accumulated under Section 3(c)(i) in respect of Stock Shares vested on the Vesting Date, had such amounts earned interest at a rate equal to prime rate as reported in the Wall Street Journal, adjusted and compounded annually, from the date such cash dividends were paid by the Company on such StockShares.

Appears in 1 contract

Samples: Rayonier Incentive Stock Plan (Rayonier Inc)

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