Each Director Stock Award Subaccount shall be credited, as applicable, with Dividend Equivalents. Any Dividend Equivalents shall be credited in the form of additional Director Deferred Shares and shall automatically and irrevocably be deemed to be part of the Participant’s Director Stock Award Subaccount until distributed to the Participant. The number of Directed Deferred Shares credited to the Participant’s Director Stock Award Subaccount for a particular Dividend Equivalent shall, in the case of a stock dividend, be equal to # the number of Director Deferred Shares credited to the Participant’s Director Stock Award Subaccount as of the payment date for such dividend in respect of each share of common stock of the Company, multiplied by # the number of additional or fractional shares of common stock of the Company actually paid as a dividend in respect of each share of common stock or, in the case of a cash dividend, shall be equal to # the number of Director Deferred Shares credited to the Participant’s Director Stock Award Subaccount, multiplied by # the fair market value of the dividend in respect of each share of common stock, divided by # the Fair Market Value (as defined in the Incentive Plan) of the common stock on the payment date for such dividend.

Dividend Equivalents. ‎“Dividend Equivalents” means the amount credited to a Participant’s Director Stock Award Subaccount reflecting an amount equal to any dividend that the Participant would have received if he or she had directly owned one share of the Company’s common stock for each Director Deferred Share of Common Stock credited to the associated Director Stock Award Subaccount. ‎