Common use of Dividend Equivalent Unit Account Clause in Contracts

Dividend Equivalent Unit Account. As soon as practical following each of the Company’s dividend payable dates, the Colleague’s Dividend Equivalent Unit Account shall be credited with the number of Dividend Equivalent Units equal to the dividends paid by the Company during the quarter on a number of Shares equal to the aggregate number of Restricted Stock Units in the Colleague’s Restricted Stock Unit Account as of the record date for such quarter’s dividend payment.

Appears in 1 contract

Sources: Restricted Stock Unit Award Agreement (City National Corp)

Dividend Equivalent Unit Account. As soon as practical following each of the Company’s dividend payable dates, the Colleague’s Dividend Equivalent Unit Account shall be credited with the number of Dividend Equivalent Units equal to the dividends paid by the Company during the quarter on a number of Shares equal to the aggregate number of Restricted Stock Units in the credited to Colleague’s Restricted Stock Unit Account as of the record date for such quarter’s dividend payment.

Appears in 1 contract

Sources: Annual Stock Unit Award Agreement (City National Corp)