Common use of Dividend Equivalent Clause in Contracts

Dividend Equivalent. If on any date the Company pays any dividend on the Common Stock (the “Payment Date”), then Holder shall receive, within 14 days after the Payment Date, a cash payment equal to the product of (i) the number of Units in the Holder’s Account as of the Payment Date, multiplied by (ii) the per share cash amount of such dividend (or, in the case of a dividend payable in Common Stock or in property other than cash, the per share equivalent cash value of such dividend, as determined in good faith by the Committee).