Equity Grant Sample Clauses
An Equity Grant clause defines the terms under which an individual or entity is awarded ownership interests, such as shares or stock options, in a company. Typically, this clause outlines the amount and type of equity granted, the vesting schedule, and any conditions or restrictions attached to the grant, such as performance milestones or continued employment. Its core practical function is to formalize the allocation of equity as part of compensation or incentive arrangements, ensuring both parties understand their rights and obligations regarding ownership interests.
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Equity Grant. On the Effective Date, QL Holdings shall grant the Executive such number of Class B Units of QL Holdings equal to two percent (2%) (on a fully-diluted basis) of the Class A Units and Class B Units as of the Effective Date (calculated, for this purpose, as if the entire pool of authorized Class B Units under Section 3.03 of the QL Holdings LLC Agreement has been fully allocated, and after giving effect to the Transaction) (the “Additional Equity Grant”). The Additional Equity Grant shall be subject to the terms of the QL Holdings LLC Agreement and an award agreement to be entered into by the Executive and QL Holdings prior to the grant of the Additional Equity Grant, which award agreements shall have terms and conditions that are substantially similar to the Company’s standard award agreement form used for restricted unit awards, provided, that the following terms shall apply:
(i) to the extent more favorable to the Executive, the terms and definitions in this Agreement shall govern and apply to the Additional Equity Grant (including, without limitation, the definitions of “Cause” and “Good Reason”);
(ii) the Additional Equity Grant shall vest in full upon a Company Sale, subject to (unless otherwise provided in clause (iii) below) the Executive’s continued employment through the consummation of such Company Sale;
(iii) subject to the Release (as defined below), the Additional Equity Grant shall vest with respect to one additional calendar year of service credit upon (and effective as of) a termination of the Executive’s employment without “Cause” or for “Good Reason” at any time prior to a Company Sale; provided, that if a Company Sale is consummated within twelve (12) months following such termination (the “Tail Period”), then the Additional Equity Grant shall vest in full upon the consummation of such Company Sale; provided, further, that if a Company Sale is not consummated within the Tail Period, then any remaining unvested portion (after applying the one-year additional vesting credit) shall be immediately forfeited at the end of such twelve (12) month period (the additional vesting credit under this clause (iii), the “Additional Vesting Credit”); provided, further, that, for the avoidance of doubt, the Annual Compounding (as defined below) shall continue to apply to the extent the Additional Equity Grant remains outstanding during the twelve (12) month period following such termination; and
(iv) the Participation Threshold applicable to the Class B U...
Equity Grant. Subject to adoption by the Board and approval by Company’s shareholders of the Company’s 2010 Equity Incentive Plan (the “Plan”), the Company shall grant to Executive shares of restricted stock (the “Restricted Stock”) under the Plan, consisting of 1,061 time-vesting shares (the “Time-Vested Restricted Stock”) and 4,980 performance-vesting shares (the “Performance-Vested Restricted Stock”). Consistent with the foregoing, the terms and conditions of the Time-Vested Restricted Stock shall be set forth in an award agreement (the “Time-Vested Restricted Stock Agreement”) substantially in the form attached hereto as Exhibit A, and the terms and conditions of the Performance-Vested Restricted Stock shall be set forth in an award agreement (the “Performance-Vested Restricted Stock Agreement” and, together with the Time-Vested Restricted Stock Agreement, the “Restricted Stock Agreements”) substantially in the form attached hereto as Exhibit B, which together shall evidence the grant of the Restricted Stock. Subject to this Section 4(c), the Time-Vested Restricted Stock and the Performance-Vested Restricted Stock shall be governed in all respects by the terms of the Plan and the applicable Restricted Stock Agreement.
Equity Grant. (a) As soon as reasonably practicable following the Effective Date, the Executive shall be granted a one-time equity award (the “Initial Grant”) under Mallinckrodt’s 2022 Stock and Incentive Plan (the “MIP”) covering 150,182 ordinary shares of Mallinckrodt. 50% of the Initial Grant shall consist of restricted stock units (“RSUs”) that will vest ratably on each of the first three (3) anniversaries of the Effective Date and the remaining 50% of the Initial Grant shall consist of performance stock units (“PSUs”) that ▇▇▇▇ ▇▇▇▇▇ vest following the performance period which ends on December 27, 2024 as outlined in the applicable award agreement (the “Performance Period”) based on Mallinckrodt’s attainment of (1) total shareholder return (“TSR”) during the Performance Period relative to the TSR generated by the ▇▇▇▇▇▇▇ 2000 Biotechnology Subsector Index (or another peer group of pharmaceutical companies selected by the Committee), and (2) adjusted operating cash flow during the Performance Period. The terms and conditions applicable to the Initial Grant shall be consistent with those applicable to RSUs and PSUs issued under the MIP, except as otherwise set forth herein. Notwithstanding anything set forth in the MIP, “Cause”, “Change in Control Termination”, “Disability”, “Good Reason”, “Early Retirement” and “Normal Retirement” shall have the meanings set forth herein, to the extent they differ from the definitions set forth in the MIP, with respect to the Initial Grant and any other awards that may be granted to Executive under the MIP.
Equity Grant. Nothing in this Agreement affects any prior grant by the Company to you of options to purchase shares of the Company’s common stock as set forth in Incentive Stock Option Agreements (“Stock Agreements”), which may be subject to the Proteostasis Therapeutics, Inc. 2008 Equity Incentive Plan (the “2008 Plan”) and/or the 2016 Stock Option and Incentive Plan (the “2016 Plan”) and, together with the Stock Agreements, the “Equity Documents”.
Equity Grant. The equity awards held by the Employee shall continue to be governed by the terms and conditions of the applicable award agreement(s) and the Company’s applicable equity incentive plan(s), as may be amended, supplemented or replaced from time to time (collectively, the “Equity Documents”). The Employee will continue to be eligible to participate in the Company’s equity incentive program for employees from time to time, at the sole discretion of the Board or its designee. No employee is guaranteed future grants of Company incentive awards.
Equity Grant. The REIT shall, as of the date of the initial trading of the REIT's common stock in connection with its initial public offering, grant the Executive 73,333 restricted shares of the REIT's common stock (the "Restricted Stock"). The Restricted Stock shall be granted to the Executive under the Company's 2004 Incentive Award Plan (the "Incentive Plan"). Subject to the Executive's continued employment with the Company, the Restricted Stock shall vest in three equal installments on January 1, 2005, January 1, 2006 and January 1, 2007. Consistent with the foregoing, the terms and conditions of the Restricted Stock shall be set forth in a restricted stock agreement (the "Restricted Stock Agreement") to be entered into by the Company and the Executive which shall evidence the grant of the Restricted Stock.
Equity Grant. During your employment with the Company, you will be eligible to participate in the Company’s 2021 Incentive Award Plan or such other equity incentive plan(s) then in effect and be granted such equity awards thereunder, if any, as determined appropriate by the Board or the Compensation Committee. In the first quarter of 2022, subject to approval by the Board or the Compensation Committee, the Company will grant you one or more equity awards (which may consist of restricted stock units, stock options, or a combination thereof), which equity award(s) shall have a total value of approximately $2,250,000 (which value shall be determined by the Board in its discretion in accordance with applicable Company policies) and shall vest over four years.
Equity Grant. The Borrower shall have issued to Lender Common Stock of the Borrower valued at $195,000, on the terms set forth in the Securities Issuance Agreement, of even date herewith, between the Borrower and Lender (the “Securities Issuance Agreement”) in substantially the form annexed hereto as Exhibit D.
Equity Grant. As soon as administratively feasible following the date hereof, the Employee shall receive a grant of stock options (the “Stock Options”) to purchase 65,000 shares of the common stock of Viventia Bio Inc. (“Viventia”) at an exercise price per share equal to the fair market value of a share of Viventia’s common stock as of the date of such grant. The equity award shall be made to the Employee under the Viventia Bio Inc. Equity Incentive Plan and shall be subject to the terms and conditions of the form option award agreement under such plan.
Equity Grant. Executive shall be eligible to receive stock options or other equity incentive awards in the Company subject to approval of the Compensation Committee. The equity plan may change from time to time in the discretion of the Compensation Committee.