Common use of Unit Award Clause in Contracts

Unit Award. This Award is a grant of restricted stock units (“RSUs”) related to shares of PSEG Common Stock (the “Shares”) pursuant to the terms, conditions and restrictions of the Plan and hereinafter set forth. The number of RSUs awarded to You, the grant date (the “Grant Date”) and the vesting schedule (the “Vesting Schedule”) are shown on the Award Summary page of the Fidelity NetBenefits website. The distribution date shall be the date, as described below, on which Shares attributable to Your Vested Award are distributed to You (the “Distribution Date”). This Award shall not be considered granted unless and until You accept the terms of this Agreement. By so accepting the terms of this Agreement, You are memorializing that You have accepted the Award as of the Grant Date. If the Company has no record of Your acceptance of the terms of this Agreement, or any other document required by the Company in connection with this Award, the Award shall be ineffective and You shall have no rights in the Award.