Common use of Dividend Equivalents; Voting and Other Rights Clause in Contracts

Dividend Equivalents; Voting and Other Rights. During the Performance Period, Participant will not have any rights as a stockholder with respect to the Performance Shares (until the time Shares have been issued in settlement of the Performance Shares as described in Section 6). From and after the Grant Date and until the time when the Performance Shares are paid in accordance with Section 6 hereof, on the ex-dividend date with respect to any cash or other distribution or dividend (if any) to holders of Shares generally, Participant shall be credited with additional Performance Shares approximately equal in value, as determined by the Administrator, to such distribution (based on the maximum number of Shares that could be earned hereunder) to the extent the underlying Performance Shares have not yet been forfeited by the Participant. Any Performance Shares credited pursuant to the immediately preceding sentence shall be subject to the same applicable terms and conditions (including vesting, payment and forfeitability) as apply to the Performance Shares with respect to which they were credited, and such amounts shall be paid in Shares (or cash, as provided in Section 6) at the same time as the Performance Shares to which they relate. 8.

Appears in 2 contracts

Samples: Performance Shares Award Agreement (Louisiana-Pacific Corp), Performance Shares Award Agreement (Louisiana-Pacific Corp)

AutoNDA by SimpleDocs

Dividend Equivalents; Voting and Other Rights. During the Performance Period, Participant will not have any rights as a stockholder with respect to the Performance Shares (until the time Shares have been issued in settlement of the Performance Shares as described in Section 6). From and after the Grant Date and until the time when the Performance Shares are paid in accordance with Section 6 hereof, on the ex-dividend date with respect to any cash or other distribution or dividend (if any) to holders of Shares generally, Participant shall be credited with additional Performance Shares approximately equal in value, as determined by the Administrator, to such the aggregate distribution to which Participant would have been entitled with respect to a number of Shares equal to the number of Performance Shares held by Participant pursuant to this Agreement (based on the maximum number of Shares that could be earned hereunder) to the extent the underlying Performance Shares have not yet been forfeited by the Participant. Any Performance Shares credited pursuant to the immediately preceding sentence shall be subject to the same applicable terms and conditions (including vesting, payment and forfeitabilityforfeiture) as apply to the Performance Shares with respect to which they were credited, and such amounts shall be paid in Shares (or cash, as provided in Section 6) at the same time as the Performance Shares to which they relate. 8.

Appears in 1 contract

Samples: Performance Shares Award Agreement (Louisiana-Pacific Corp)

AutoNDA by SimpleDocs

Dividend Equivalents; Voting and Other Rights. During the Performance PeriodPeriod for any Award of Performance Shares, Participant will not have any rights as a stockholder with respect to the Performance Shares (until the time Shares have been issued in settlement of the Performance Shares as described in Section 6). From and after the Grant Date and until the earlier of (a) the time when the Performance Shares Vest and are paid in accordance with Section 6 hereofhereof or (b) the time when Participant’s right to receive Shares in payment of the Performance Shares is forfeited, on the ex-dividend date with respect to any cash or other distribution or dividend (if any) to holders of Shares generally, Participant shall be credited with additional Performance Shares approximately equal in value, as determined by the Administrator, to such distribution (based on the maximum number of Shares that could be earned hereunder) to the extent the underlying Performance Shares have not yet been forfeited by the Participantdistribution. Any Performance Shares credited pursuant to the immediately preceding sentence shall be subject to the same applicable terms and conditions (including vestingVesting, payment and forfeitability) as apply to the Performance Shares with respect to based on which they were credited, and such amounts shall be paid in Shares (or cash, as provided in Section 6) at the same time as the Performance Shares to which they relate. 8.

Appears in 1 contract

Samples: Performance Shares Award Agreement (Louisiana-Pacific Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.