Common use of Dividend Equivalent PSUs Clause in Contracts

Dividend Equivalent PSUs. When cash dividends are paid by the Corporation on the Shares between the Grant Date and the Committee Meeting Date, the Corporation shall credit to Participant’s account additional dividend equivalent PSUs (“DEUs”) with respect to the PSUs in accordance with this Section 3. The number of DEUs (including fractional DEUs) to be credited in respect of each dividend record date will be calculated by dividing the aggregate amount of the cash dividend that would have been paid to the Participant if the PSUs and DEUs outstanding at such dividend record date had been Shares held by the Participant on such dividend record date, by the closing price per Share on the Applicable Exchange on the Trading Day immediately preceding the dividend payment date for such cash dividend. DEUs shall be subject to the same terms and conditions as the PSUs and shall vest and be settled at the same time and in the same manner as the PSUs to which they relate. Fractional DEUs shall be rounded up to the nearest whole number as of the date of settlement.

Dividend Equivalent PSUs. When cash dividends are paid by the Corporation on the Shares between the Grant Date and the Committee Meeting Date, the Corporation shall credit to Participant’s 's account additional dividend equivalent PSUs (“"DEUs”") with respect to the PSUs in accordance with this Section 3. The number of DEUs (including fractional DEUs) to be credited in respect of each dividend record date will be calculated by dividing the aggregate amount of the cash dividend that would have been paid to the Participant if the PSUs and DEUs outstanding at such dividend record date had been Shares held by the Participant on such dividend record date, by the closing price per Share on the Applicable Exchange on the Trading Day immediately preceding the dividend payment date for such cash dividend. DEUs shall be subject to the same terms and conditions as the PSUs and shall vest and be settled at the same time and in the same manner as the PSUs to which they relate. Fractional DEUs shall be rounded up to the nearest whole number as of the date of settlement.