Equity Grants Clause Samples
The Equity Grants clause outlines the terms under which a party, typically an employee or contractor, is awarded ownership interests in a company, such as stock options or restricted stock units. This clause specifies the type and amount of equity granted, the vesting schedule, and any conditions or restrictions on the equity, such as performance milestones or continued service requirements. Its core function is to incentivize and retain key individuals by aligning their interests with the long-term success of the company, while clearly defining the rights and obligations associated with the equity awards.
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Equity Grants. (i) The Executive will be eligible to participate in the Group’s long-term equity incentive plans (the “Equity Incentive Plans”) in accordance with their applicable terms and to the extent determined by the Board (or a committee designated by the Board) in its sole discretion.
(ii) Notwithstanding the applicable terms of any Equity Incentive Plan or related award to the contrary, in the event of a Notice (as defined below) of a termination without Cause by the Company of the Executive's employment or the Executive's resignation from his employment for Good Reason (each a “Qualifying Termination”) and subject to the Executive’s execution and non-revocation of a general release of claims in favor of and in a form and manner satisfactory to the Company (the “Release”; such notice, the “Notice Release”; and the effective date of the Release, the “Release Effective Date”) within the time period described in the Notice Release, which will in no event be less than twenty-one (21) days after the date of the Notice or more than sixty (60) days following the date of the Notice (provided, however, if the Executive requests a one-week extension to review the Release, it will be granted), the vesting of all options to purchase shares of Parent (“Options”), restricted share units, performance share units and any other equity awards relating to shares of Parent (collectively, “Equity Awards”) that would have vested if the Executive’s employment had continued for eighteen (18) months from the Release Effective Date shall accelerate in full upon the effectiveness of the Release; provided that, for purposes of determining the level of acceleration of any performance-based Equity Awards (“Performance-Based Equity Awards”), such Performance-Based Equity Awards will accelerate and vest as of the Release Effective Date as follows:
(A) To the extent any applicable performance period with respect to a Performance-Based Equity Award has been completed at the time of such Release Effective Date, the applicable portion of the Performance-Based Equity Award shall vest based upon the actual level of attainment;
(B) To the extent any applicable performance period with respect to a Performance-Based Equity Award would be completed during the eighteen (18) month period following the date of the Release Effective Date, the applicable portion of the Performance-Based Equity Award shall vest based upon the target level of attainment; and
(C) To the extent any applicable performance period w...
Equity Grants. Subject to approval by the Compensation Committee, Employee shall be eligible for future equity grants and other long-term incentives.
Equity Grants. Executive shall be eligible to receive equity grants during the Employment Period as determined by the Compensation Committee of the Board in its sole discretion.
Equity Grants. During the Term of Employment, the Executive shall be eligible for equity or equity-based awards that may be granted to the Executive at such times, in such amounts and in such manner as the Board (excluding the Executive) may determine in its sole discretion, but, in good faith, taking into account the roles of and responsibilities of Executive relative to industry norms for similar positions. Any such equity or equity-based awards shall be subject to the terms and conditions set forth in the applicable plan and award agreement.
Equity Grants. The Executive may receive grants of equity-based compensation pursuant to any equity compensation plans the Corporation may adopt from time to time for the purpose of providing executive compensation, including grants in the form of shares of restricted common stock of the Corporation and/or options to buy shares of common stock of the Corporation. The parties acknowledge that Section 11(b) of the Amended and Restated Merchants Bancshares, Inc. 2008 Stock Incentive Plan provides that, upon the occurrence of a Special Transaction (as defined therein), (i) all then outstanding stock options shall become fully vested and exercisable; (ii) all then outstanding awards of restricted stock with time-based vesting conditions shall become fully vested and nonforfeitable; and (iii) all then outstanding awards of restricted stock with conditions and restrictions relating to the attainment of performance goals may become vested in the discretion of the Compensation Committee of the Corporation’s Board. The Corporation confirms and agrees that any future amendment to Section 11(b) of the 2008 Plan adopted by the Corporation that has the effect of eliminating, reducing or restricting the rights of any holder of a stock option or restricted stock award upon the occurrence of a Special Transaction shall be deemed to apply only prospectively to grants of equity compensation made under such plan after the date of the Corporation’s approval of the amendment.
Equity Grants. In its sole discretion, the Board may grant to Executive from time to time stock options to purchase shares of Company common stock or such other equity awards as it may determine.
Equity Grants. Immediately prior to a Change in Control, (i) all options granted by Westport to the Employee shall be 100% vested and immediately exercisable, and the exercise term thereof shall end upon the earlier of: the first anniversary of the date of termination of employment and the end of the original exercise term, and (ii) all restrictions shall lapse with respect to all grants of restricted stock held by Employee.
Equity Grants. Executive has previously been granted stock options by the Company which remain in full force and effect in accordance with the terms of the stock option agreements documenting such grants. Executive shall be eligible to receive additional grants of either restricted stock or stock options, or both, as the Compensation Committee may determine from time to time. All stock options shall be granted at not less than one hundred percent (100%) of the fair market value of the Company’s common stock on the date of grant. Any awards shall vest in accordance with the Company’s vesting policy for additional grants to executive officers of the Company in effect on the date of the grant by the Compensation Committee, and shall contain such other terms and conditions as shall be set forth in the agreement documenting the grant.
Equity Grants. The parties incorporate the terms of Exhibit A attached hereto regarding the equity grants described therein, provided however, that upon any Change of Control of the Company as defined in Section 4 of this Agreement or if ▇▇▇▇▇▇’▇ employment is terminated under Sections 5.1(b), (d) or (e) of this Agreement, any of ▇▇▇▇▇▇’▇ equity-based incentive compensation (whether granted pursuant to this Agreement or otherwise) that has not yet vested will vest immediately.
Equity Grants. Whether and to what extent Executive is entitled to receive equity grants (e.g., stock or stock options), if any, from the Company is set forth on Schedule 2 hereto.