Share Award Accounts Sample Clauses

Share Award Accounts. Each Participant’s Share Award Account shall record the number of Shares and fractions thereof credited to such Share Award Account as a Plan Payout and the date as of which each such Plan Payout was made. Whenever a dividend other than a dividend payable in the form of Shares is declared with respect to the Company’s Common Stock, the number of Shares credited to a Participant’s Share Award Account shall be increased by the number of Shares determined by dividing (i) the product of (A) the number of Shares in the Participant’s Share Award Account on the related dividend record date and (B) the amount of any cash dividend declared by the Company on a share of Common Stock (or, in the case of any dividend distributable in property other than Common Stock, the per share value of such dividend, as determined by the Company for purposes of income tax reporting) by (ii) the Fair Market Value per Share on the related dividend payment date.
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Share Award Accounts. Each Participant’s Share Award Account shall record the number of Shares and fractions thereof credited to such Share Award Account as a Plan Payout and the date as of which each such Plan Payout was made.
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Share Award Accounts. Each Participant’s Share Award Account shall record the number of Shares and fractions thereof credited to such Share Award Account as a Plan Payout and the date as of which each such Plan Payout was made. From and after February 3, 2005, except as otherwise expressly provided in this Section 4, whenever a dividend other than a dividend payable in the form of Shares is declared with respect to the Company’s Common Stock, the number of Shares credited to a Participant’s Share Award Account shall be increased by the number of Shares determined by dividing (i) the product of (A) the number of Shares in the Participant’s Share Award Account on the related dividend record date and (B) the amount of any cash dividend declared by the Company on a share of Common Stock (or, in the case of any dividend distributable in property other than Common Stock, the per share value of such dividend, as determined by the Company for purposes of income tax reporting) by (ii) the Fair Market Value per Share on the related dividend payment date. Notwithstanding the foregoing, (i) the Trustee shall hold WABCO Shares received as a dividend on Shares credited to a Participant’s Share Award Account until (A) distributed or disposed of in accordance with Section 6 or 7, (B) such WABCO Shares are converted into cash or other property in connection with a WABCO Transaction or (C) directed to dispose of such WABCO Shares, in whole or in part, by the Plan Administrator and (ii) in respect of a Participant who the Company shall have identified as having elected (in accordance with the terms of the Plan) annual distributions of amounts related to dividends payable on Shares, the Trustee shall credit the amount of any such dividend (other than a dividend payable in the form of Shares or WABCO Shares, which shall in all events be credited in the form of Shares or WABCO Shares, as the case may be) to a cash sub-account in the Participant’s Share Award Account (the “Dividend Sub-Account”) and credit such Dividend Sub-Account with interest as directed by the Treasurer of the Company. To the extent that WABCO Shares are converted into cash or other property in a WABCO Transaction or the Trustee is directed to dispose of WABCO Shares in accordance with the preceding sentence, the Trustee shall reinvest the proceeds from any such disposition in Shares (or, if directed by the Plan Administrator, in cash or other property). Pending investment of any cash proceeds from the distribution of WABCO Share...
Sample 1
Share Award Accounts. Each Participant’s Share Award Account shall record the number of Shares and fractions thereof credited to such Share Award Account as a Plan Payout and the date as of which each such Plan Payout was made. Except as expressly provided below, whenever a dividend other than a dividend payable in the form of Shares is declared with respect to the Company’s Common Stock, the number of Shares credited to a Participant’s Share Award Account shall be increased by the number of Shares determined by dividing (i) the product of (A) the number of Shares in the Participant’s Share Award Account on the related dividend record date and (B) the amount of any cash dividend declared by the Company on a share of Common Stock (or, in the case of any dividend distributable in property other than Common Stock, the per share value of such dividend, as determined by the Company for purposes of income tax reporting) by (ii) the Fair Market Value per Share on the related dividend payment date. Notwithstanding the foregoing, the Trustee shall hold WABCO Shares received as a dividend on Shares credited to a Participant’s Share Award Account until (A) distributed or disposed of in accordance with Section 6 or 7, (B) such WABCO Shares are converted into cash or other property in connection with a WABCO Transaction or (C) directed to dispose of such WABCO Shares, in whole or in part, by the Committee. To the extent that WABCO Shares are converted into cash or other property in a WABCO Transaction or the Trustee is directed to dispose of WABCO Shares in accordance with the preceding sentence, the Trustee shall reinvest the proceeds from any such disposition in Shares (or, if directed by the Committee [or its delegate], in cash or other property). Pending investment of any cash proceeds from the distribution of WABCO Shares, the Trustee may temporarily invest and reinvest such proceeds in any marketable short- and medium-term fixed income securities, United States Treasury Bills, other short- and medium-term government obligations, commercial paper, other money market instruments and part interests in any one or more of the foregoing, or may maintain cash balances consistent with the liquidity needs of the Trust as determined by the Trustee. Notwithstanding anything to the contrary contained herein, whenever a dividend other than a dividend payable in the form of WABCO Shares is declared with respect to WABCO Shares, the number of Shares credited to a Participant’s Share Award Account sh...
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Related to Share Award Accounts

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Award of Restricted Stock Units The Company, effective as of the date of this Agreement, hereby grants to Participant an award of Restricted Stock Units, each Restricted Stock Unit representing the right to receive one share of Common Stock on such date as set forth herein, plus an additional amount pursuant to Section 2(b) hereof, subject to the terms and conditions set forth in this Agreement.

  • Dividend Equivalents Subject to this Paragraph 6, with respect to dividends for which a record date occurs during the Restriction Period, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any related Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, based on the Target Award Units and any Dividend Equivalent Units resulting from prior reinvestments of Dividend Equivalents, in the number of Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of Section 3(a) of the Plan, such Dividend Equivalents will be credited to Participant as a cash value based on the Target Award Units and any Dividend Equivalent Units resulting from prior reinvestments of Dividend Equivalents, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 6 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, upon the same conditions, and in the same proportion, as the Target Award Units set forth in this Award; provided, however, that if the Award vests after the record date for, but before the payment date of, a dividend, then the Dividend Equivalents related to such dividend and to Units vesting on the vesting date will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend.

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