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

Rights as Shareholder; Dividend Equivalents. Prior to the distribution of Shares with respect to Units pursuant to Section 3 above, Participant shall not have ownership or rights of ownership of any Shares underlying the Units; provided, however, that Participant shall be entitled to receive cash dividend equivalents on outstanding Units (i.e. Units that have not been forfeited or settled), whether vested or unvested, if cash dividends on the Common Stock are declared by the Board on or after the Grant Date. Participant shall be entitled to dividend equivalents with respect to a number of Units equal to the Final Award Number. Such dividend equivalents will be in an amount of cash per Unit equal to the cash dividend paid with respect to a share of outstanding Common Stock. The dividend equivalents shall be treated as earnings on, and as a separate amount from, the Units for purposes of Section 409A of the Code. Dividend equivalents accrued prior to the Determination Date will be paid to Participant as soon as administratively feasible following the Determination Date, provided, however, that such payment will occur in all cases between January 1st and March 15th of the calendar year immediately following the calendar year in which the last day of the Performance Period occurs. After the Determination Date, dividend equivalents will be paid to Participant with respect to Units that have not been settled and paid out on the same payment dates as dividends are paid to holders of the Common Stock. For avoidance of doubt, such dividend equivalents will be paid in the year in which the dividends on Common Stock are declared, provided, however, that for dividends declared in December, the dividend equivalents will be paid in January of the following year. Dividend equivalents paid with respect to dividends declared before the delivery of the Shares underlying the Units will be treated as compensation income for tax purposes and will be subject to income and payroll tax withholding by the Company.

Rights as Shareholder; Dividend Equivalents. Prior to the distribution of Shares with respect to Units pursuant to Section 3 above, Participant shall not have ownership or rights of ownership of any Shares underlying the Units; provided, however, that Participant shall be entitled to receive cash dividend equivalents Dividend Equivalents on outstanding Units (i.e. Units that have not been forfeited or settled), whether vested or unvested, if cash dividends on the Common Stock are declared by the Board on or after the Grant Date. Participant shall be entitled to dividend equivalents Dividend Equivalents with respect to a number of Units equal to the Final Award Number. Such dividend equivalents Dividend Equivalents will be in an amount of cash per Unit equal to the cash dividend paid with respect to a share of outstanding Common Stock. The dividend equivalents Dividend Equivalents shall be treated as earnings on, and as a separate amount from, the Units for purposes of Section 409A of the Code. Dividend equivalents Equivalents accrued prior to the Determination Date will be paid to Participant within 90 days following the last day of the Performance Period, and as a matter of administrative practice will be paid as soon as administratively feasible following the Determination Date, provided, however, that such payment will occur in all cases between January 1st and March 15th of the calendar year immediately following the calendar year in which the last day of the Performance Period occurs. After Dividend Equivalents relating to dividends declared after the Determination Date, dividend equivalents Date will be paid to Participant with respect to Units that have not been settled and paid out on the same payment dates as dividends are paid to holders of the Common Stock. For avoidance of doubt, such dividend equivalents will be paid in the year in which the dividends on Common Stock are declared, provided, however, that for dividends declared in December, the dividend equivalents will be paid in January of the following year. Dividend equivalents Equivalents paid with respect to dividends declared before the delivery of the Shares underlying the Units will be treated as compensation income for tax purposes and will be subject to income and payroll tax withholding by the Company.

Rights as Shareholder; Dividend Equivalents. Prior to the distribution of Shares with respect to Units pursuant to Section 3 above, Participant shall not have ownership or rights of ownership of any Shares underlying the Units; provided, however, that Participant shall be entitled to receive accrue cash dividend equivalents Dividend Equivalents on outstanding Units (i.e. i.e., Units that have not been forfeited forfeited, cancelled or settled), whether vested or unvested, if cash dividends on the Common Stock are declared by the Board on or after the Grant Date. Prior to the Determination Date, Participant shall be entitled will accrue cash Dividend Equivalents on Units equal to dividend equivalents the Target Award Number. Specifically, when cash dividends are paid with respect to a number share of Units equal to the Final Award Number. Such dividend equivalents will be in outstanding Common Stock, an amount of cash per Unit equal to the cash dividend paid with respect to a share of outstanding Common StockStock will be accrued with respect to each Unit in Participant’s Target Award Number. On the Determination Date, the dollar amount of Participant’s cumulative accrued Dividend Equivalents as of the Determination Date will be multiplied by Participant’s Target Award Number Percentage to determine the amount of cash Dividend Equivalents that will be paid to Participant. Dividend Equivalents will be paid in cash as soon as administratively feasible following the date on which the underlying Units giving rise to the Dividend Equivalents are settled and paid out, but in no event later than December 31st of the year in which the underlying Units are distributed in accordance with Section 3. The dividend equivalents Dividend Equivalents shall be treated as earnings on, and as a separate amount from, the Units for purposes of Section 409A of the Code. Dividend equivalents accrued prior to the Determination Date will be paid to Participant as soon as administratively feasible following the Determination Date, provided, however, that such payment will occur in all cases between January 1st and March 15th of the calendar year immediately following the calendar year in which the last day of the Performance Period occurs. After the Determination Date, dividend equivalents will be paid to Participant with respect to Units that have not been settled and paid out on the same payment dates as dividends are paid to holders of the Common Stock. For avoidance of doubt, such dividend equivalents will be paid in the year in which the dividends on Common Stock are declared, provided, however, that for dividends declared in December, the dividend equivalents will be paid in January of the following year. Dividend equivalents paid with respect to dividends declared before the delivery of the Shares underlying the Units will be treated as compensation income for tax purposes and will be subject to income and payroll tax withholding by the Company.

Rights as Shareholder; Dividend Equivalents. Prior to the distribution of Shares with respect to Units pursuant to Section 3 above, Participant shall not have ownership or rights of ownership of any Shares underlying the Units; provided, however, that Participant shall be entitled to receive accrue cash dividend equivalents Dividend Equivalents on outstanding Units (i.e. Units that have not been forfeited or settled), whether vested or unvested, if cash dividends on the Common Stock are declared by the Board on or after the Grant Date. Prior to the Determination Date, Participant shall be entitled will accrue cash Dividend Equivalents on Units equal to dividend equivalents the Target Award Number. Specifically, when cash dividends are paid with respect to a number share of Units equal to the Final Award Number. Such dividend equivalents will be in outstanding Common Stock, an amount of cash per Unit equal to the cash dividend paid with respect to a share of outstanding Common StockStock will be accrued with respect to each Unit in Participant’s Target Award Number. On the Determination Date, the dollar amount of Participant’s cumulative accrued Dividend Equivalents as of the Determination Date will be multiplied by Participant’s Target Award Number Percentage to determine the amount of cash Dividend Equivalents that will be paid to Participant. Dividend Equivalents will be paid in cash on the date on which the underlying Units giving rise to the Dividend Equivalents are settled and paid out. The dividend equivalents Dividend Equivalents shall be treated as earnings on, and as a separate amount from, the Units for purposes of Section 409A of the Code. Dividend equivalents accrued prior to the Determination Date will be paid to Participant as soon as administratively feasible following the Determination Date, provided, however, that such payment will occur in all cases between January 1st and March 15th of the calendar year immediately following the calendar year in which the last day of the Performance Period occurs. After the Determination Date, dividend equivalents will be paid to Participant with respect to Units that have not been settled and paid out on the same payment dates as dividends are paid to holders of the Common Stock. For avoidance of doubt, such dividend equivalents will be paid in the year in which the dividends on Common Stock are declared, provided, however, that for dividends declared in December, the dividend equivalents will be paid in January of the following year. Dividend equivalents paid with respect to dividends declared before the delivery of the Shares underlying the Units will be treated as compensation income for tax purposes and will be subject to income and payroll tax withholding by the Company.