Rights and Restrictions. The Performance Units shall not be transferable other than pursuant to will or the laws of descent and distribution. Prior to vesting of the Performance Units and delivery of the Shares to Grantee, Grantee shall not have any rights and privileges of a shareholder as to the Shares subject to the Award. Specifically, Grantee shall not have the right to receive dividends or the right to vote such Shares prior to vesting of the Award and delivery of the Shares.
Appears in 4 contracts
Samples: Performance Unit Agreement (Xl Group PLC), Performance Unit Agreement (Xl Group PLC), Performance Unit Agreement (Xl Capital LTD)
Rights and Restrictions. The Performance Units shall not be transferable other than pursuant to will or the laws of descent and distribution. Prior to vesting of the Performance Units and delivery of the Shares to Grantee, Grantee shall not have any of the rights and privileges of a shareholder as to the Shares subject to the Award. Specifically, Grantee shall not have the right to receive dividends or the right to vote such Shares prior to vesting of the Award and delivery of the Shares. In addition, dividend equivalent units will not be credited with respect to unvested Performance Units.
Appears in 2 contracts
Samples: Form of Performance Unit Agreement (Xl Group PLC), Performance Unit Agreement (Xl Group PLC)
Rights and Restrictions. The Performance Units shall not be transferable other than pursuant to will or the laws of descent and distribution. Prior to vesting of the Performance Units and delivery of the Shares to Grantee, Grantee shall not have any of the rights and privileges of a shareholder as to the Shares subject to the Award. Specifically, Grantee shall not have the right to receive dividends or the right to vote such Shares prior to vesting of the Award and delivery of the Shares.
Appears in 2 contracts
Samples: Performance Unit Agreement (Xl Group LTD), Performance Unit Agreement (Xl Group LTD)
