Common use of Performance Dividend Plan Clause in Contracts

Performance Dividend Plan. Provided Mr. Franklin is not entitled to benefits under t▇▇ ▇▇▇▇▇▇▇▇▇ce Dividend Plan (the defined terms of which are incorporated in this Paragraph 2.(d)(iv) by reference), if the Performance Dividend Plan is in place through Mr. Franklin's Termination Date and to the exten▇ ▇▇. ▇▇▇▇▇▇▇▇ is entitled to participate therein, ▇▇. ▇▇▇▇▇▇▇n shall be entitled to receive cash for each Award held by Mr. Franklin on his Termination Date, based on actual ▇▇▇▇▇▇mance under Section 4.1 of the Performance Dividend Plan determined as of the most recently completed calendar quarter of the Performance Period in which the Termination Date shall have occurred, and the Annual Dividend declared prior to the Termination Date.

Appears in 2 contracts

Sources: Change in Control Agreement (Savannah Electric & Power Co), Change in Control Agreement (Savannah Electric & Power Co)

Performance Dividend Plan. Provided Mr. Franklin is not entitled to benefits under t▇▇ the ▇▇▇▇▇▇▇▇▇ce ▇e Dividend Plan (the defined terms of which are incorporated in this Paragraph 2.(d)(iv) by reference), if the Performance Dividend Plan is in place through Mr. Franklin's Termination Date and to the exten▇ extent ▇▇. ▇▇▇▇▇▇▇▇ is entitled to participate therein, ▇▇. ▇▇▇▇▇▇▇n Mr. Franklin shall be entitled to receive cash for each Award ▇▇▇ ▇▇▇▇ ▇▇ard held by Mr. Franklin on his Termination Date, based on actual a▇▇▇▇▇ ▇▇▇▇▇▇mance ▇▇▇▇▇ under Section 4.1 of the Performance Dividend Plan determined as of the most recently completed calendar quarter of the Performance Period in which the Termination Date shall have occurred, and the Annual Dividend declared prior to the Termination Date.

Appears in 1 contract

Sources: Change in Control Agreement (Southern Power Co)