Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance Shares shall be credited to Employee’s Account in lieu of payment or crediting of cash dividend equivalents equal to the number of Performance Shares credited to the Account as of the relevant record date multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution.
Appears in 7 contracts
Samples: Performance Shares Agreement (New Jersey Resources Corp), Performance Shares Agreement (New Jersey Resources Corp), New Jersey Resources Corporation (New Jersey Resources Corp)
Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance Shares Performance-Based Restricted Stock shall be credited to Employee’s Account Employee in lieu of payment or crediting of cash dividend equivalents equal to the number of Performance Shares credited to the Account outstanding Performance-Based Restricted Stock as of the relevant record date multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distributiondistribution (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)
Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance Shares Share Units shall be credited to Employee’s Account in lieu of payment or crediting of cash dividend equivalents equal to the number of Performance Shares Share Units credited to the Account as of the relevant record date multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution.
Appears in 2 contracts
Samples: Performance Share Units Agreement (New Jersey Resources Corp), Share Units Agreement (New Jersey Resources Corp)
Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance Shares shall be credited to Employee’s Account in lieu of payment or crediting of cash dividend equivalents equal to the number of Performance Shares credited to the Account as of the relevant record date multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution.. Exhibit 10.21
Appears in 1 contract
Samples: Performance Shares Agreement (New Jersey Resources Corp)
Cash Dividends. If the Company declares and pays a dividend or distribution on shares of Stock in the form of cash, then additional Performance Shares Performance-Based Restricted Stock shall be credited to Employee’s Account Employee in lieu of payment or crediting of cash dividend equivalents equal to the number of Performance Shares credited to the Account outstanding Performance-Based Restricted Stock as of the relevant record date multiplied by the amount of cash paid per share of Stock in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution.distribution (rounded down to the nearest whole share). (ii)
Appears in 1 contract
Samples: Restricted Stock Agreement
