Common use of Non-Share Dividends Clause in Contracts

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of property other than shares of Stock, then a number of additional Performance Share Units shall be credited to Employee’s Account as of the payment date of such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share Units credited to the Account as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such payment date for such dividend or distribution.

Appears in 14 contracts

Samples: Performance Share Units Agreement (New Jersey Resources Corp), Performance Share Units Agreement (New Jersey Resources Corp), Performance Share Units Agreement (New Jersey Resources Corp)

AutoNDA by SimpleDocs

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of property other than shares of Stock, then a number of additional Performance Share Restricted Stock Units shall be credited to Employee’s Account as of the payment date of for such cash dividend or distribution (or settled as of the payment date of for such cash dividend or distribution if the Performance Share Restricted Stock Units are to be settled before the payment date) equal to the number of Performance Share Restricted Stock Units credited to the Account as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such payment date for such dividend or distribution.

Appears in 6 contracts

Samples: Restricted Stock Units Agreement (New Jersey Resources Corp), Restricted Stock Units Agreement (New Jersey Resources Corp), Restricted Stock Units Agreement (New Jersey Resources Corp)

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of property other than shares of Stock, then a number of additional Performance Share Units shares of Performance-Based Restricted Stock shall be credited to Employee’s Account Employee as of the payment date of for such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share Units shares of Performance-Based Restricted Stock credited to the Account Employee as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such payment date for such dividend or distribution(rounded down to the nearest whole share).

Appears in 3 contracts

Samples: New Jersey Resources Corporation (New Jersey Resources Corp), Performance Based Restricted Stock Agreement (New Jersey Resources Corp), Restricted Stock Agreement (New Jersey Resources Corp)

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of property other than shares of Stock, then a number of additional Performance Share Units shares of Deferred Stock shall be credited to Employee’s Account as of the payment date of such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance Share Units are Deferred Stock is to be settled before the payment date) equal to the number of Performance Share Units shares of Deferred Stock credited to the Account as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such payment date for such dividend or distribution.

Appears in 3 contracts

Samples: New Jersey Resources (New Jersey Resources Corp), New Jersey Resources Corporation (New Jersey Resources Corp), New Jersey Resources (New Jersey Resources Corp)

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Common Stock in the form of property other than shares of Stockshares, then a number of additional Performance Share Units shall be credited to Employee’s Account you as of the payment date of for such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance Share Units are to be settled before the payment date) equal to (A) the number of Performance Share Units credited to the Account you as of the record date for such dividend or distribution (other than previously settled or forfeited Performance Share Units), multiplied by (B) the fair market value Fair Market Value of such property actually paid as a dividend or distribution on each outstanding share of Common Stock at such payment date, divided by (C) the Fair Market Value of a share of Stock at such payment date for such dividend or distributiondate.

Appears in 2 contracts

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co), Performance Share Units Agreement (Bristol Myers Squibb Co)

AutoNDA by SimpleDocs

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of property other than shares of Stock, then a number of additional Performance Share shares of Performance-Based Restricted Stock Units shall be credited to Employee’s Account Employee as of the payment date of for such cash dividend or distribution (or settled as of the payment date of such cash dividend or distribution if the Performance Share Units are to be settled before the payment date) equal to the number of Performance Share shares of Performance-Based Restricted Stock Units credited to the Account Employee as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such payment date for such dividend or distribution(rounded down to the nearest whole share).

Appears in 1 contract

Samples: Restricted Stock Units Agreement (New Jersey Resources Corp)

Non-Share Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of property other than shares of Stock, then a number of additional Performance Share Restricted Stock Units shall be credited to EmployeeDirector’s Account as of the payment date of for such cash dividend or distribution (or settled as of the payment date of for such cash dividend or distribution if the Performance Share Restricted Stock Units are to be settled before the payment date) equal to the number of Performance Share Restricted Stock Units credited to the Account as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such the payment date for such dividend or distribution.

Appears in 1 contract

Samples: New Jersey Resources Corporation (New Jersey Resources Corp)

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