Examples of Deferred Stock Unit Ledger in a sentence
All amounts deferred in accordance with a Participant's election authorization shall be credited to such Participant's account under the Deferred Stock Unit Ledger, more fully described below.
On the Initial Valuation Date, the Company shall establish a Deferred Stock Unit Ledger which shall reflect the name of each Participant and credit to such Participant's account established thereunder (i) the amounts actually deferred from his or her Compensation in accordance with his or her election authorization and (ii) the number of his or her Deferred Stock Units.
Following the Distribution but effective as of the date of the Distribution, the Company shall establish a KSL Deferred Stock Unit Ledger which shall reflect the name of each Participant and credit to each such Participant's account established thereunder one non-monetary unit equal to one KSL Common Share for every three non-monetary units equal to three shares of Common Stock that is deemed credited to his DSU Ledger as of the record date for the Distribution.
Each quarter following the date of the Distribution, the Company shall also credit to the Participant's KSL Deferred Stock Unit Ledger with an amount equal to the Quarterly Cash Distribution.
As each Participant becomes partially vested and fully vested (determined in accordance with Section 11) the KSL Deferred Stock Unit Ledger shall reflect his or her cumulative vested interest therein.
On the Initial Valuation Date, the Company shall establish a Deferred Stock Unit Ledger which shall reflect the name of each Participant and credit to each such Participant's account established thereunder (a) the amounts actually deferred from his or her Compensation in accordance with his or her election authorization and (b) the number of his or her Deferred Stock Units.
Notwithstanding any other provision hereof, on a Participant's Final Valuation Date, any amounts credited to the Participant's DSU Ledger or KSL Deferred Stock Unit Ledger that are not Partially Vested or Fully Vested shall be forfeited.
Upon the Participant's Final Distribution Date, the Participant shall also be entitled to receive a cash payment in an amount equal to the aggregate amount of the Participant's vested interest in the Quarterly Cash Distributions credited to his KSL Deferred Stock Unit Ledger (and interest thereon).
As of December 31 of each calendar year, the aggregate amount of the Quarterly Cash Distributions credited to his KSL Deferred Stock Unit Ledger shall be credited with interest at the prime rate as published in the Wall Street Journal on the relevant December 31 (or the immediately preceding publication date if there is no publication on the relevant December 31).
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