RIGHTS PRIOR TO VESTING. During the period prior to lapse of the restrictions and the vesting, in the event that any dividend is paid by the Company with respect to the Common Stock (whether in the form of cash, Common Stock or other property), then the Committee shall, in the manner it deems equitable or appropriate, adjust the number of RSUs allocated to each Participant's Stock Award Account to reflect such dividend.
RIGHTS PRIOR TO VESTING. On January 1, 2021, Battat shall be credited with dividend equivalents in the form of RSUs equal to the aggregate amount of dividends paid during the period beginning on the Date of Grant and ending on December 31, 2020 on the number of outstanding shares of Common Stock that equals the number of RSUs credited to Battat on each date such dividends were paid divided by the closing market price for the Common Stock on such dividend payment dates. On each Vesting Date set forth on Exhibit A, Battat shall be credited with dividend equivalents in the form of cash equal to the aggregate amount of dividends paid during the period beginning on the immediately preceding Vesting Date and ending on such Vesting Date on the number of outstanding shares of Common Stock that equals the number of RSUs credited to Battat on each date such dividends were paid; provided, however, that with respect to the first Vesting Date set forth on Exhibit A the period shall begin on January 1, 2021 and shall end on such first Vesting Date. The RSUs and cash credited to Battat as a result of dividends paid by the Company with respect to the Common Stock shall be subject to the restrictions and forfeiture provisions set forth in Paragraph 3 above. The RSUs and cash credited as dividend equivalents as a result of dividends paid by the Company with respect to the Common Stock shall be delivered or paid to Battat in accordance with Paragraph 5 below.
RIGHTS PRIOR TO VESTING. Until a Vesting Date, the Grantee shall not have any rights as a shareholder with respect to the Shares underlying the Units which have not previously vested (except as provided in the following paragraph). If the number of outstanding common shares of the Company (“Common Shares”) is changed as a result of a stock dividend, stock split or the like, without additional consideration to the Company, the Units subject to this Award shall be adjusted to correspond to the change in the Company’s outstanding Common Shares. Upon vesting and payout of the Award, the Grantee may exercise voting rights and shall be entitled to receive dividends and other distributions with respect to the number of Shares to which the Grantee is entitled pursuant hereto. As of any date that the Company pays an ordinary cash dividend on its Shares, the Company shall credit the Grantee with a dollar amount equal to (i) the per share cash dividend paid by the Company on its Shares on such date, multiplied by (ii) the total number of Units that are outstanding immediately prior to the record date for that dividend (a “Dividend Equivalent Right”). Any Dividend Equivalent Rights credited pursuant to the foregoing provisions of this Section 1(c) shall be subject to satisfaction of the same vesting, payment and other terms, conditions and restrictions as the original Units to which they relate; provided, however, that the amount of any earned Dividend Equivalent Rights shall be paid in cash at the same time as the related Units. No crediting of Dividend Equivalent Rights shall be made pursuant to this Section 1(c) with respect to any Units which, immediately prior to the record date for that dividend, have been paid out or forfeited pursuant to the terms of the Plan.
RIGHTS PRIOR TO VESTING. If any dividends or other distributions are paid with respect to the Shares while the Performance Units are outstanding, the dollar amount or fair market value of such dividends or distributions with respect to the number of Shares then underlying the Performance Units shall be credited to a bookkeeping account and held (without interest) by the Company for the account of the Participant. Such amounts shall be subject to the same vesting, forfeiture and payment provisions as the Performance Units to which they relate.
RIGHTS PRIOR TO VESTING. If any dividends or other distributions are paid with respect to the Shares while the Performance Units are outstanding, the dollar amount or fair market value of such dividends or distributions with respect to the number of Shares then underlying the RSUs shall be credited to a bookkeeping account and held (without interest) by the Company for the account of the Participant. Such amounts shall be subject to the same vesting, forfeiture and payment provisions as the RSUs to which they relate.
RIGHTS PRIOR TO VESTING. During the period prior to lapse of the restrictions and the vesting, the Participant (a) may exercise full voting rights with respect to the Shares, (b) shall be entitled to receive cash dividends paid with respect to the Shares and (c) shall be credited with and entitled to receive stock dividends paid with respect to the Shares; provided, however, that any such stock dividends shall be subject to the same restrictions as the Shares.
RIGHTS PRIOR TO VESTING. The Participant shall have, with respect to the shares of Restricted Stock (whether vested or unvested), all rights as a shareholder of the Company, including the right to vote the shares and the right to receive dividends; provided, however, that all dividends and other distributions in respect of the Restricted Stock shall be paid to the Company for the account of the Participant until vesting of the Restricted Stock. Any securities of the Company issued in respect of the Restricted Stock by reason of a stock split, stock dividend or similar event shall constitute and be held by the Company as part of the Restricted Stock and subject to the vesting and other restrictions of this Award Agreement.
RIGHTS PRIOR TO VESTING. During the Vesting Period, you will not have any rights as a shareholder of GATX Corporation. During the Vesting Period, and on each common stock dividend date, you will accrue dividend equivalents which shall be credited to your account equal in amount to the dividends paid on the shares of common stock of GATX Corporation. All dividend equivalents will be distributed to you in cash at the end of the Vesting Period.
RIGHTS PRIOR TO VESTING. Beginning upon the Grant Date, Founder shall be entitled to vote Founder’s shares of Founder Stock regardless whether such Founder Stock has vested pursuant to Section 2(b). Unless otherwise provided herein, Founder Stock shall not have any other right until such Founder Stock has vested pursuant to Section 2(b).
RIGHTS PRIOR TO VESTING. The Restricted Stock Units and Dividend Equivalent Rights represent a right to payment from the Company if the conditions of this Award Agreement are met and do not give the Grantee ownership of any Common Stock prior to delivery as provided in Section 4. No assets have been set aside by the Company or otherwise to pay the amounts promised by this Award Agreement, the right to payment is unsecured, and the Grantee is a general creditor of the Company for payment under this Award Agreement.
