Example ContractsClausescontinuation of dividend equivalentsIdentical
Continuation of Dividend Equivalents
Continuation of Dividend Equivalents contract clause examples

Dividend Equivalents. Any cash or Common Stock dividends paid on shares of Common Stock underlying a Unit prior to the Settlement Date for such Unit shall be credited to a dividend book entry account on your behalf (any such credited amount, a “Dividend Equivalent”). Any cash Dividend Equivalents shall not be deemed to be reinvested in shares of Common Stock and will be held uninvested and without interest. An amount equal to any Dividend Equivalents with respect to cash dividends shall be paid to you in cash on the applicable Settlement Date on which the related Unit is settled. On the applicable Settlement Date on which the related Unit is settled you will be paid an amount in cash equal to the Fair Market Value of the Common Stock underlying Dividend Equivalents with respect to dividends of Common Stock as of the applicable Settlement Date. Prior to the payment thereof, any Dividend Equivalents will be encompassed within the term “Award” with respect to the relevant Units.

COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) (CIK 0000023197)
Source: SEC EDGAR database • Date: September 27, 2017 • SIC: 3663 • CIK: 3663

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