Dividend Equivalents. Subject to this Paragraph 5, with respect to dividends for which a record date occurs during the Restriction Period applicable to any Units, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents will be credited to Participant as a cash value, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, as the Restricted Stock Units to which they relate; provided, however, that if the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then any Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend.
Dividend Equivalents. Subject to this Paragraph 5, with respect to dividends for which a record date occurs during the Restriction Period applicable to any Units,Period, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any related Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, based on the Target Award Units and any Dividend Equivalent Units resulting from prior reinvestments of Dividend Equivalents, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents will be credited to Participant as a cash value,value based on the Target Award Units and any Dividend Equivalent Units resulting from prior reinvestments of Dividend Equivalents, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, upon the same conditions, and in the same proportion, as the Restricted StockTarget Award Units to which they relate;set forth in this Award; provided, however, that if the Restriction Period for any Restricted Stock Unit endsAward vests after the record date for, but before the payment date of, a dividend, then anythe Dividend Equivalents related to such dividend and to Units for whichvesting on the Restriction Period is endingvesting date will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend.
Dividend Equivalents. Subject to this Paragraph 5, with respect to dividends for which a recordUnless otherwise determined by the Committee at the date occurs during the Restriction Period applicable toof grant, any Units, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, andEquivalents that are granted with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents will be credited to Participant as a cash value, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend EquivalentsAward shall be subject to the samefollowing terms and conditions,conditions: # Dividend Equivalents payable with respect to a Restricted Stock Unit Award shall be paid on the date or dates the portion of the Restricted Stock Unit Award to which such Dividend Equivalents relates, is satisfied under Section 6(e)(i), with such Dividend Equivalents to be accumulated, without interest, by the Company (the Accumulated Dividend Equivalents), # all Accumulated Dividend Equivalents payable with respect to a Restricted Stock Unit Award shall be paid in cash, and # any Accumulated Dividend Equivalents with respect to a Restricted Stock Unit Award shall vest or be forfeited (as applicable)and all rights of the Participant to such Accumulated Dividend Equivalents shall terminate, without further obligation on the part of the Company, unless the portion of the Restricted Stock Unit Award to which such Accumulated Dividend Equivalents relate become vested pursuant to the terms of the Restricted Stock Unit Award and this Plan. Notwithstanding the foregoing, the applicable Award Agreement may specify whether any Dividend Equivalents shall be # paid at the dividend payment date, deferred or deferred at the election of the Participant, or # converted to additional Restricted Stock Units that shall be subject to restrictions and risk of forfeiture to the same time,extent as the Restricted Stock UnitsUnit Award with respect to which they relate; provided, however, that ifsuch Dividend Equivalents have been credited. If the Restriction Period for anyParticipant may elect to defer the Dividend Equivalents, such election shall be made within 30 days after the grant date of the Restricted Stock Unit ends after the record date for,Award, but in no event later than 12 months before the paymentfirst date of,on which any portion of such Restricted Stock Unit Award vests (or at such other times prescribed by the Committee as shall not result in a dividend, then anyviolation of Section 409A of the Code). Notwithstanding the provisions of this Section 6(e)(iii), Dividend Equivalents relatedcredited in connection with a Restricted Stock Unit Award that vests based on the achievement of performance goals shall be subject to restrictions and risk of forfeiture to the same extent as the Restricted Stock Unit Award with respect to which such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. Dividend Equivalents have been credited.
The Participant shall not have the right to receive any dividends, other distributions or Dividend Equivalents. SubjectEquivalents, as applicable, in respect of the shares of Stock represented by the Restricted Stock Units prior to this Paragraph 5,the delivery of such shares of Stock. At the discretion of the Committee determined at the time of the Award, subject to the provisions of Section 3(a) of the Plan, the Participant may be credited with Dividend Equivalents with respect to dividendseach dividend or other distribution for which a record date occurs during the Restriction Period applicable to any Units, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestmentsfor the payment of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents willin cash or the reinvestment of such Dividend Equivalents in additional Units. The Committee may provide that any dividends, other distributions or Dividend Equivalents, whether payable in cash or shares of Stock, shall not be credited to Participant as a cash value, which cash valuepaid or distributed immediately, but shall be held by the Company (without interest)remain subject to this Agreement. Any Units resulting fromall the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions,conditions regarding vesting, restrictions and shall vest or be forfeited (as applicable) at the same time, asforfeiture that apply to the Restricted Stock Units to which they relate; provided, however, that if the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then anysuch dividends, other distributions or Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. relate.
The Participant shall not have the right to receive any dividends, other distributions or Dividend Equivalents. SubjectEquivalents, as applicable, in respect of the shares of Stock represented by the Restricted Stock Units prior to this Paragraph 5,the delivery of such shares of Stock. At the discretion of the Committee determined at the time of the Award, subject to the provisions of Section 3(b) of the Plan, the Participant may be credited with Dividend Equivalents with respect to dividendseach dividend or other distribution for which a record date occurs during the Restriction Period applicable to any Units, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestmentsfor the payment of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable dividend or distribution is made to the Company’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents willin cash or the reinvestment of such Dividend Equivalents in additional Units. The Committee may provide that any dividends, other distributions or Dividend Equivalents, whether payable in cash or shares of Stock, shall not be credited to Participant as a cash value, which cash valuepaid or distributed immediately, but shall be held by the Company (without interest)remain subject to this Agreement. Any Units resulting fromall the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions,conditions regarding vesting, restrictions and shall vest or be forfeited (as applicable) at the same time, asforfeiture that apply to the Restricted Stock Units to which they relate; provided, however, that if the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then anysuch dividends, other distributions or Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. relate.
Crediting of Dividend Equivalents. Subject to this Paragraph 5, with respect to dividendsOn each dividend payment date for which a record date occurs during the Restriction Period applicable to any Units,Corporation, the Corporation shall credit the memorandum account of each Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested inwho holds Restricted Stock Units as of the declared record date with additional Restricted Stock Units and fractions thereof equivalent to the dividend paid on the date that the applicable dividend or distribution is made to the Company’Corporation’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents byCommon Stock based on the Fair Market Value of the Common Stock on such date (roundedthe dividend payment date. Each credited dividend equivalent shall be equal to the nearest thousandthamount of a whole Unit orthe regular quarterly dividend paid in accordance with the Corporation’s normal dividend payment practice as otherwise reasonablymay be determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvestedCommittee, in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalentsits sole discretion. The Participant’s memorandum account will be credited to Participant as a cash value, which cash value shall be held by the Company (without interest) subjectwith additional Restricted Stock Units, including fractions thereof, pursuant to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, as thesection until all Restricted Stock Units that were credited to which they relate; provided, however, that if the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then any Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. Participant are distributed.
Crediting of Dividend Equivalents. Subject to this Paragraph 5, with respect to dividendsOn each dividend payment date for which a record date occurs during the Restriction Period applicable to any Units,Corporation, the Corporation shall credit the memorandum account of each Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested inwho holds Restricted Stock Units as of the declared record date with additional Restricted Stock Units and fractions thereof equivalent to the dividend paid on the date that the applicable dividend or distribution is made to the Company’Corporation’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents byCommon Stock based on the Fair Market Value of the Common Stock on such date (roundedthe dividend payment date. Each credited dividend equivalent shall be equal to the nearest thousandthamount of a whole Unit orthe regular quarterly dividend paid in accordance with the Corporation’s normal dividend payment practice as otherwise reasonablymay be determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvestedCommittee, in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalentsits sole discretion. The Participant’s memorandum account will be credited to Participant as a cash value, which cash value shall be held by the Company (without interest) subjectwith additional Restricted Stock Units, including fractions thereof, pursuant to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, as thesection until all Restricted Stock Units that were credited to which they relate; provided, however, that if the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then any Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. Participant are distributed.
Dividend Equivalents. SubjectEquivalencies. To the extent that any dividend was paid to this Paragraph 5, with respect to dividends for which a record date occursthe holders of the Company’s Common Stock during the Restriction Period applicable to any Units,and the Participant shall be credited withwas employed by the Company or a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock UnitsSubsidiary on the date that the applicable dividend or distribution is madewas paid to holders of the Company’s Common Stock, the Company will pay to the Company’s shareholders,Participant a dividend equivalent in the number of Dividend Equivalent Units determined by dividing the aggregate valuerespect of the Dividend Equivalents by the Fair Market Value of the Stock onvested Units for all such date (rounded to the nearest thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents will be credited to Participant as a cash value, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, as the Restricted Stock Units to which they relate; provided, however, that ifpaid during the Restriction Period for any Restricted Stock Unit ends afterwithin 30 days following the record date for, but beforeof the payment date of, a dividend, then any Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paidof Common Stock in cash or in Stock, in the sole discretionsatisfaction of the Company, as soon as practicable following the payment date for such dividend. Units.
Dividend Equivalents. Subject to this Paragraph 5, with respect to dividendsThe Award agreement for which a record date occurs during the Restriction Period applicable to any Units, Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units may provide Participants with the right to receive an amount equal to any dividends or other distributions declared and paid on the date that the applicable dividend or distribution is made to the Company’s shareholders, in thean equal number of outstanding shares of Common Stock (Dividend Equivalent Units determined by dividing the aggregate value of theEquivalents). Dividend Equivalents by the Fair Market Value of the Stock on such date (rounded to the nearest thousandth of a whole Unitmay be paid currently or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalents will be credited to Participant as aan account for the Participants, may be settled in cash value, which cash value shall be held by the Company (without interest) subject to this Agreement. Any Units resulting from the deemed reinvestmentand/or shares of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shallCommon Stock and may be subject to the same termsrestrictions on transfer and conditions, and shall vest or be forfeited (as applicable) at the same time,forfeitability as the Restricted Stock Units with respect to which they relate; provided, however, that ifpaid, in each case to the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then any Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock,extent provided in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. applicable Award agreement.
Crediting of Dividend Equivalents. Subject to this Paragraph 5, with respect to dividendsOn each dividend payment date for which a record date occurs during the Restriction Period applicable to any Units,Corporation, the Corporation will credit the memorandum account of each Participant shall be credited with a Dividend Equivalent with respect to each outstanding Restricted Stock Unit, and with respect to any Dividend Equivalent Unit (defined below) resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested inwho holds Restricted Stock Units as of the declared record date with additional Restricted Stock Units and fractions thereof equivalent to the dividend paid on the date that the applicable dividend or distribution is made to the Company’Corporation’s shareholders, in the number of Dividend Equivalent Units determined by dividing the aggregate value of the Dividend Equivalents byCommon Stock based on the Fair Market Value of the Common Stock on such date (roundedthe dividend payment date. Each credited dividend equivalent will be equal to the nearest thousandthamount of a whole Unit orthe regular quarterly dividend paid in accordance with the Corporation’s normal dividend payment practice as otherwise reasonablymay be determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvestedCommittee, in Units due to the operation of [Section 3(a)] of the Plan, such Dividend Equivalentsits sole discretion. The Participant’s memorandum account will be credited to Participant as a cash value, which cash value shall be held by the Company (without interest) subjectwith additional Restricted Stock Units, including fractions thereof, pursuant to this Agreement. Any Units resulting from the deemed reinvestment of dividends in accordance with this Paragraph 5 are referred to herein as “Dividend Equivalent Units.” Dividend Equivalents shall be subject to the same terms and conditions, and shall vest or be forfeited (as applicable) at the same time, as theparagraph until all Restricted Stock Units that were credited to which they relate; provided, however, that if the Restriction Period for any Restricted Stock Unit ends after the record date for, but before the payment date of, a dividend, then any Dividend Equivalents related to such dividend and to Units for which the Restriction Period is ending will be paid in cash or in Stock, in the sole discretion of the Company, as soon as practicable following the payment date for such dividend. Participant are distributed.
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