Dividend Equivalent Shares definition

Dividend Equivalent Shares means additional Performance Shares credited pursuant to Section 3.3.

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Dividend Equivalent Shares means any Telecity Shares representing accrued dividends earned on Telecity Shares to which an award holder is entitled upon vesting of such shares (calculated in accordance with the rules of the relevant Telecity Share Plan) or any cash payment equivalent to the aggregate value of such Telecity Shares;

Dividend Equivalent Shares means, in the case of an award granted under the Betfair Long Term Incentive Plan, the Betfair Shares as are deemed added to that award under rule

Examples of Dividend Equivalent Shares in a sentence

• The Company and its Affiliates shall, to the extent permitted by law, have the right to deduct from the Dividend Equivalent, Shares issued in connection with the vesting or Retained Distribution, as applicable, or any payment of any kind otherwise due to the Participant any Federal, state, local or foreign withholding taxes due with respect to such vesting or payment.

• The Company and its Affiliates shall, to the extent permitted by law, have the right to deduct from the Dividend Equivalent, Shares issued in connection with the vesting or Retained Distribution, as applicable, or any payment of any kind otherwise due to the Participant the minimum statutory Federal, state, local or foreign withholding taxes due with respect to such vesting or payment.

• Prior to delivery of any Common Stock with respect to the Performance Shares or the Dividend Equivalent Shares, the Awardee shall not be deemed to have any ownership or stockholder rights (including without limitation dividend and voting rights) with respect to such shares, nor may the Awardee sell, assign, pledge or otherwise transfer (voluntarily or involuntarily) this Award, or any of the Performance Shares or any of the Dividend Equivalent Shares prior to delivery thereof.

• Notwithstanding anything contained herein to the contrary, the Company’s obligation to issue or deliver the Performance Shares (or Dividend Equivalent Shares) or any certificates evidencing such shares shall be subject to the terms of all applicable laws, rules and regulations and to such approvals by any governmental agencies or national securities exchanges as may be required.

• On the date that Performance Shares are delivered to the Awardee hereunder (whether pursuant to Sections 1, 3 or 5), the Dividend Equivalent Shares in respect of the aggregate number of delivered Performance Shares shall also be delivered to the Awardee, with the aggregate number of such Dividend Equivalent Shares being rounded down to the nearest whole share (but, in any event, no fewer than one share).

• For purposes of (ii), the number of Dividend Equivalent Shares with respect to any dividend shall be calculated as of the date on which the dividend is paid to holders of Company common stock.

• Any such Dividend Equivalent Shares shall be subject to the same vesting, forfeiture, payment, termination and other terms, conditions and restrictions as the original PSUs to which they relate.

• On the date(s) that Deferred Shares are delivered to the Awardee hereunder (whether pursuant to Sections 1 or 3), the Dividend Equivalent Shares in respect of the aggregate number of delivered Deferred Shares shall also be delivered to the Awardee, with the aggregate number of such Dividend Equivalent Shares being rounded down to the nearest whole share (but, in any event, no fewer than one share).

• Prior to delivery of any Common Stock with respect to the Deferred Shares or the Dividend Equivalent Shares, the Awardee shall not be deemed to have any ownership or stockholder rights (including without limitation dividend and voting rights) with respect to such shares, nor may the Awardee sell, assign, pledge or otherwise transfer (voluntarily or involuntarily) this Award, or any of the Deferred Shares or any of the Dividend Equivalent Shares prior to delivery thereof.

• Dividend Equivalent Shares shall become Vested Performance Shares at the same time as the Performance Shares originally subject to the Award with respect to which they have been credited.

More Definitions of Dividend Equivalent Shares

Dividend Equivalent Shares means the phantom shares of Common -------------------------- Stock credited to a Participant's Deferred Shares Account under Section 4.2.

Dividend Equivalent Shares means, with respect to each ordinary dividend payment date on Parent Stock during the period commencing on the Closing Date and ending on the Year 3 Payment Date (if any), a number of shares of Parent Stock equal to the quotient obtained by dividing (i) the ordinary cash dividend amount that would have been paid on such dividend payment date with respect to .95943 shares of Parent Stock (and with respect to any additional shares theretofore credited as “Dividend Equivalent Shares”, in the case of the second of such dividend payment dates and thereafter) if such shares of Parent Stock were issued and outstanding (x) on the Closing Date (in the case of the .95943 shares) or (y) on the applicable prior dividend payment date (in the case of previously credited “Dividend Equivalent Shares”) by (ii) the closing trading price of one share of Parent Stock on such dividend payment date.