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Common use of Rights of the Participant Clause in Contracts

Rights of the Participant. Each Restricted Stock Unit, upon becoming vested before its expiration, represents a right to receive payment in the form of one (1) share of Common Stock. Each tandem Dividend Equivalent represents a right to receive cash payments equivalent to the amount of cash dividends declared and paid on one (1) share of Common Stock after the Date of Grant and until the earlier of (a) the time the Restricted Stock Units vest and become payable or (b) the date the Restricted Stock Units are forfeited/expire. Restricted Stock Units and Dividend Equivalents are used solely as units of measurement, and are not shares of Common Stock and the Grantee is not, and has no rights as, a shareholder of the Company by virtue of this Award. The Restricted Stock Units and Dividend Equivalents subject to this Agreement have been awarded to the Grantee in respect of services to be performed by the Participant during the vesting period.

Appears in 4 contracts

Samples: Restricted Stock Units and Dividend Equivalents Award Agreement (Myr Group Inc.), Restricted Stock Units and Dividend Equivalents Award Agreement (Myr Group Inc.), Restricted Stock Units and Dividend Equivalents Award Agreement (Myr Group Inc.)