Common use of Voting and Dividends Clause in Contracts

Voting and Dividends. Subject to the Restrictions contained in Section 2 hereof, Grantee shall have all rights of a stockholder of the Company with respect to the Restricted Stock, including the right to vote the shares of Restricted Stock and the right to receive any cash or stock dividends. Stock dividends issued with respect to the Restricted Stock shall be treated as additional shares of Restricted Stock that are subject to the same restrictions and other terms and conditions that apply to the shares with respect to which such dividends are issued. If a dividend is paid in other property, the Grantee will be credited with the amount of property which would have been received had the Grantee owned a number of shares of Common Stock equal to the number of Restricted Stock credited to his or her account. The property so credited will be subject to the same Restrictions and other terms and conditions applicable to the Restricted Stock and will be paid out in kind at the time the Restrictions lapse.

Appears in 6 contracts

Samples: Stock Award Agreement (Heritage-Crystal Clean, Inc.), Stock Award Agreement (Heritage-Crystal Clean, Inc.), Stock Award Agreement (Heritage-Crystal Clean, Inc.)

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