Common use of Dividend Equivalent PSUs Clause in Contracts

Dividend Equivalent PSUs. Subject to the terms and conditions of the Plan and this Agreement, where cash dividends are paid by the Corporation on the Shares between the Grant Date and the Committee Meeting Date in respect of the Performance Period, the Corporation shall notionally credit additional Dividend Equivalent PSUs to the Participant’s PSU Account. The number of such Dividend Equivalent PSUs (including fractional PSUs) to be credited in respect of each dividend record date will be calculated by dividing the cash dividends that would have been paid to the Participant if the corresponding PSUs applicable to the Performance Period had been Shares held by the Participant on such dividend record date, by the closing price per Share on the applicable Stock Exchange on the immediately preceding Trading Day of the dividend payment date for such cash dividends. The number and/or value of such Dividend Equivalent PSUs (as applicable) shall be determined by the Corporation prior to the Vesting Date relative to any Vested PSUs applicable to the Performance Period. Where applicable, Dividend Equivalent PSUs shall vest and be paid at the same time as the Vested PSUs to which they relate.