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Dividend, Voting and Other Rights
Dividend, Voting and Other Rights contract clause examples

Dividend, Voting and Other Rights. Except as otherwise provided in this Section 6, the Grantee shall have none of the rights of a stockholder with respect to the Stock Award. A notional cash account for the Grantee shall be credited with an amount equal to any cash dividends paid by the Company on its common stock during the full or partial performance period as determined under [Sections 1 through 5]. Such notional cash dividends shall become non-forfeitable only with respect to the corresponding portion of the Stock Award that ultimately vests in accordance with [Sections 1 through 5]. Non-forfeitable notional cash dividends will be distributed in cash, without interest, when the corresponding vested portion of the Stock Award is paid out as set forth in Sections 2 and 3.

Dividend, Voting and Other Rights. Except as otherwise provided in this Section 6, the Grantee shall have none of the rights of a stockholder with respect to the Stock Award. A notional cash account for the Grantee shall be credited with an amount equal to any cash dividends paid by the Company on its Common Stock during the full or partial performance period as determined under [Sections 1 through 5]. Such notional cash dividends shall become non-forfeitable only with respect to the corresponding portion of the Stock Award that ultimately vests in accordance with [Sections 1 through 5]. Non-forfeitable notional cash dividends will be distributed in cash, without interest, when the corresponding vested portion of the Stock Award is paid out as set forth in Sections 2 and 3.

Shareholder Rights; Dividends, etc. Nothing in the Award shall confer upon the Grantee any rights of a shareholder, including without limitation voting rights, with respect to the Stock underlying the Award except as to any shares of Stock actually delivered pursuant to Section 4 above. Notwithstanding the foregoing, in the event any portion of the Award vests and shares of Stock in respect of such vested portion are delivered pursuant to Section 4 above, the Company shall at the time of such delivery also pay or deliver, or cause to be paid or delivered, cash or other property having a value as determined by the Administrator equal to any dividends paid or other distributions made with respect to such shares during the period that the Grantee held the corresponding unvested portion of the Award; provided, that the Administrator shall have the discretionary authority, without limiting its other discretionary authority under the Plan and this Award, to determine the form of payment and to make such adjustments as may be required to reflect applicable legal restrictions on distributions or such other matters as the Administrator may determine to be relevant.

Dividends; Other Rights. The Award shall not be interpreted to bestow upon the Grantee any equity interest or ownership in the Company or any Affiliate prior to the date on which the Company delivers shares of Stock to the Grantee (if any). The Grantee is not entitled to vote any shares of Stock by reason of the granting of this Award or to receive or be credited with any dividends declared and payable on any share of Stock prior to the date on which any such share is delivered to the Grantee hereunder. The Grantee shall have the rights of a shareholder only as to those shares of Stock, if any, that are actually delivered under this Award.

Dividends; Other Rights. The Award shall not be interpreted to bestow upon the Grantee any equity interest or ownership in the Company or any Affiliate prior to the date on which the Company delivers shares of Stock to the Grantee (if any). The Grantee is not entitled to vote any shares of Stock by reason of the granting of this Award or to receive or be credited with any dividends declared and payable on any share of Stock prior to the date on which any such share is delivered to the Grantee hereunder. The Grantee shall have the rights of a shareholder only as to those shares of Stock, if any, that are actually delivered under this Award.

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