Common use of Voting and Dividends Clause in Contracts

Voting and Dividends. Except as provided in this paragraph, with respect to the Restricted Shares, the Employee shall have all of the rights of a shareholder of the Company, including the right to vote the Restricted Shares during the Restriction Period. Any cash dividends paid on any Restricted Shares during the Restriction Period shall be paid to the Employee as compensation. In the event any non-cash dividends or other distributions, whether in property, or stock of another company, are paid on any Restricted Shares during the Restriction Period, such non-cash dividends or other distributions payable to the Employee shall be retained by the Company and not delivered to the Employee until such time as the Restriction Period on the shares with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Company. Such non-cash dividends or distributions with respect to the Restricted Shares shall be paid to the Employee upon the lapse of the restrictions or retained by the Company in the event the Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited to the Company. Stock dividends and shares issued as a result of any stock-split, if any, issued with respect to the Restricted Shares shall be treated as additional Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect to, and shall vest or be forfeited at the same time as, the Restricted Shares with respect to which such stock dividends or shares are issued.

Appears in 3 contracts

Samples: Restricted Stock Agreement (Conseco Inc), Restricted Stock Agreement (Conseco Inc), Restricted Stock Agreement (Conseco Inc)

AutoNDA by SimpleDocs

Voting and Dividends. Except as provided in this paragraph, with respect to the Restricted Shares, the Employee shall have all of the rights of a shareholder of the Company, including the right to vote the Restricted Shares during the Restriction PeriodPeriod of Restriction. Any cash dividends paid on any Restricted Shares during the Period of Restriction Period shall not be paid contingent upon vesting of the Restricted Shares to the Employee as compensationwhich they relate. In the event any non-cash dividends or other distributions, whether in property, or stock of another company, are paid on any Restricted Shares during the Restriction PeriodPeriod of Restriction, such non-cash dividends or other distributions payable to the Employee shall be retained by the Company and not delivered to the Employee until such time as the Period of Restriction Period on the shares with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Company. Such non-cash dividends or distributions with respect to the Restricted Shares shall be paid to the Employee upon the lapse of the restrictions or retained by the Company in the event the Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited to the Company. Stock dividends and shares Any Shares issued as a result pursuant to Section 4.2 of any stock-split, if any, issued the Plan with respect to the Restricted Shares shall be treated as additional Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect to, and shall vest or be forfeited at the same time as, the Restricted Shares with respect to which such stock dividends or shares Shares are issued.

Appears in 3 contracts

Samples: Restricted Stock Agreement (Unitil Corp), Restricted Stock Agreement (Unitil Corp), Restricted Stock Agreement (Unitil Corp)

Voting and Dividends. Except as provided in this paragraph, with respect to the Time Restricted Shares, the Employee shall have all of the rights of a shareholder of the Company, including the right to vote the Time Restricted Shares during the Restriction PeriodPeriod of Restriction. Any cash dividends paid on any Time Restricted Shares during the Period of Restriction Period shall not be paid contingent upon vesting of the Time Restricted Shares to the Employee as compensationwhich they relate. In the event any non-cash dividends or other distributions, whether in property, or stock of another company, are paid on any Time Restricted Shares during the Restriction PeriodPeriod of Restriction, such non-cash dividends or other distributions payable to the Employee shall be retained by the Company and not delivered to the Employee until such time time, if any, as the Period of Restriction Period on the shares with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Company. Such non-cash dividends or distributions with respect to the Time Restricted Shares shall be paid to the Employee upon the lapse of the restrictions or retained by the Company in the event the Time Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited and returned to the Company. Stock dividends and shares Any Shares issued as a result pursuant to Section 4.2 of any stock-split, if any, issued the Plan with respect to the Time Restricted Shares shall be treated as additional Time Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect to, and shall vest or be forfeited at the same time as, the Time Restricted Shares with respect to which such stock dividends or shares Shares are issued.

Appears in 1 contract

Samples: Restricted Stock Agreement (Unitil Corp)

Voting and Dividends. Except as provided in this paragraph, with respect to the Restricted Shares, the Employee Wendt shall have all of the rights of a shareholder of the Company, including xxxxuding the right to vote the Restricted Shares during the Restriction Period. Any cash dividends paid on any Restricted Shares during the Restriction Period shall be paid to the Employee as compensationWendt. In the event any non-cash dividends or other distributions, whether xxxxxer in property, property or stock of another company, are paid on any Restricted Shares during the Restriction Period, such non-cash dividends or other distributions payable to the Employee Wendt shall be retained by the Company and not delivered to the Employee Wendt uxxxxx and until such time as the Restriction Period on the shares sxxxxx with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Companyvested. Such non-cash dividends or distributions with respect to the Restricted Shares shall be paid to the Employee Wendt upon the lapse of the restrictions or retained by the Company in the event the Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited to the Companyrestrictions. Stock dividends and shares issued sharex xxxued as a result of any stock-stock split, if any, issued with respect to the Restricted Shares shall be treated as additional Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect to, and shall vest or be forfeited at the same time as, the Restricted Shares with respect to which such stock dividends or shares are issued.

Appears in 1 contract

Samples: Restricted Stock Agreement (Conseco Inc)

AutoNDA by SimpleDocs

Voting and Dividends. (a) Except as provided in this paragraph, with respect to the Performance Restricted Shares, the Employee shall have all of the rights of a shareholder of the Company, including the right to vote the Performance Restricted Shares during the Restriction PeriodPeriod of Restriction. Any cash dividends paid on any Performance Restricted Shares during the Period of Restriction Period shall not be paid contingent upon vesting of the Performance Restricted Shares to the Employee as compensationwhich they relate. In the event any non-cash dividends or other distributions, whether in property, or stock of another company, are paid on any Performance Restricted Shares during the Restriction PeriodPeriod of Restriction, such non-cash dividends or other distributions payable to the Employee shall be retained by the Company and not delivered to the Employee until such time time, if any, as the Period of Restriction Period on the shares with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Company. Such non-cash dividends or distributions with respect to the Performance Restricted Shares shall be paid to the Employee upon the lapse of the restrictions or retained by the Company in the event the Performance Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited and returned to the Company. Stock dividends and shares Any Shares issued as a result pursuant to Section 4.2 of any stock-split, if any, issued the Plan with respect to the Performance Restricted Shares shall be treated as additional Performance Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect to, and shall vest or be forfeited at the same time as, the Performance Restricted Shares with respect to which such stock dividends or shares Shares are issued. (b) The Employee shall not have any of the rights of a shareholder of the Company with respect to any Additional Shares that the Company may issue to the Employee under this Agreement until the Company actually issues such Additional Shares to the Employee.

Appears in 1 contract

Samples: Restricted Stock Agreement (Unitil Corp)

Voting and Dividends. Except After compliance with the HSR Act as provided in paragraph 4 and except as provided in this paragraph, with respect to the Restricted Shares, the Employee shall have all of the rights of a shareholder of the Company, including the right to vote the Restricted Shares during the Restriction Period. Any cash dividends paid on any Restricted Shares during the Restriction Period shall be paid to the Employee as compensation. In the event any non-cash dividends or other distributions, whether in property, or stock of another company, are paid on any Restricted Shares during the Restriction Period, such non-cash dividends or other distributions payable to the Employee shall be retained by the Company and not delivered to the Employee until such time as the Restriction Period on the shares with respect to which such non-cash dividends or other distributions have been paid shall have lapsed and such shares become fully vested and not subject to forfeiture to the Company. Such non-cash dividends or distributions with respect to the Restricted Shares shall be paid to the Employee upon the lapse of the restrictions or retained by the Company in the event the Restricted Shares on which such non-cash dividends or other distributions were paid are forfeited to the Company. Stock dividends and shares issued as a result of any stock-split, if any, issued with respect to the Restricted Shares shall be treated as additional Restricted Shares and shall be subject to the same restrictions and other terms and conditions that apply with respect to, and shall vest or be forfeited at the same time as, the Restricted Shares with respect to which such stock dividends or shares are issued.

Appears in 1 contract

Samples: Restricted Stock Agreement (Conseco Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!