Common use of Rights as Shareholder; Dividend Equivalents Clause in Contracts

Rights as Shareholder; Dividend Equivalents. (a) The Grantee shall not have any rights of a shareholder with respect to the Common Shares underlying the PSUs, including voting rights. Notwithstanding the foregoing, dividends on the Common Shares underlying the PSUs, if any, paid prior to the certification date, whether in cash or in the form of additional Company Common Shares, shall accrue and be deferred and subject to forfeiture if the PSUs granted hereby do not vest with the Grantee on the Certification Date; then paid in cash or shares as applicable, subject to adjustment based upon the Actual Award paid to the Grantee. (b) Upon and following the vesting of the PSUs and the issuance of Common Shares, the Grantee shall be the record owner of the Common Shares underlying the PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).

Appears in 4 contracts

Samples: Performance Share Units Award Agreement (Premier Financial Corp), Performance Share Units Award Agreement (First Defiance Financial Corp), Long Term Incentive Plan Award Agreement (United Community Financial Corp)

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Rights as Shareholder; Dividend Equivalents. (a) 8.1 The Grantee shall not have any rights of a shareholder with respect to the Common Shares underlying the PSUs, including voting rights. Notwithstanding the foregoing, dividends on the Common Shares underlying the PSUs, if any, paid prior to the certification date, whether in cash or in the form of additional Company Common Shares, shall accrue and be deferred and subject to forfeiture if the PSUs granted hereby do not vest with the Grantee on the Certification Dateperformance certification date; then paid in cash or shares as applicable, subject to adjustment based upon the Actual Award paid to the Grantee. (b) 8.2 Upon and following the vesting of the PSUs and the issuance of Common Shares, the Grantee shall be the record owner of the Common Shares underlying the PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).

Appears in 1 contract

Samples: Performance Share Units Grant Agreement (United Community Financial Corp)

Rights as Shareholder; Dividend Equivalents. (a) 8.1 The Grantee shall not have any rights of a shareholder with respect to the Common Shares underlying the PSUs, including voting rights. Notwithstanding the foregoing, dividends on the Common Shares underlying the PSUs, if any, paid prior to the certification date, whether in cash or in the form of additional Company Common Shares, shall accrue and be deferred and subject to forfeiture if the PSUs granted hereby do not vest with the Grantee on the Certification Datecertification date; then paid in cash or shares as applicable, subject to adjustment based upon the Actual Award paid to the Grantee. (b) 8.2 Upon and following the vesting of the PSUs and the issuance of Common Shares, the Grantee shall be the record owner of the Common Shares underlying the PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).

Appears in 1 contract

Samples: Performance Share Units Grant Agreement (United Community Financial Corp)

Rights as Shareholder; Dividend Equivalents. (a) 8.1. The Grantee shall not have any rights of a shareholder with respect to the Common Shares underlying the PSUs, including voting rights. Notwithstanding the foregoing, dividends on the Common Shares underlying the PSUs, if any, paid prior to the certification date, whether in cash or in the form of additional Company Common Shares, shall accrue and be deferred and subject to forfeiture if the PSUs granted hereby do not vest with the Grantee on the Certification Dateperformance certification date; then paid in cash or shares as applicable, subject to adjustment based upon the Actual Award paid to the Grantee. (b) 8.2. Upon and following the vesting of the PSUs and the issuance of Common Shares, the Grantee shall be the record owner of the Common Shares underlying the PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).

Appears in 1 contract

Samples: Performance Share Units Grant Agreement (United Community Financial Corp)

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Rights as Shareholder; Dividend Equivalents. (a) 8.1. The Grantee shall not have any rights of a shareholder with respect to the Common Shares underlying the PSUs, including voting rights. Notwithstanding the foregoing, dividends on the Common Shares underlying the PSUs, if any, paid prior to the certification date, whether in cash or in the form of additional Company Common Shares, shall accrue and be deferred and subject to forfeiture if the PSUs granted hereby do not vest with the Grantee on the Certification Datecertification date; then paid in cash or shares as applicable, subject to adjustment based upon the Actual Award paid to the Grantee. (b) 8.2. Upon and following the vesting of the PSUs and the issuance of Common Shares, the Grantee shall be the record owner of the Common Shares underlying the PSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting and dividend rights).

Appears in 1 contract

Samples: Performance Share Units Grant Agreement (United Community Financial Corp)

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