ESOP Plan Sample Clauses

ESOP Plan. The Company shall have adopted an ESOP in the form and substance reasonably satisfactory to the Investor.
Sample 1Sample 2
AutoNDA by SimpleDocs
ESOP Plan. In the event that the Company intends to accelerate any options granted under the ESOP Plan for the purpose of its initial public offering, the Company shall take at the same time equivalent measures to lock up, retain and incentivize employees in question in accordance with the ESOP Plan, Transaction Documents and the applicable Laws.
Sample 1Sample 2
ESOP Plan. The Company shall adopt an employee incentive plan approved in accordance with Section 3.3, under which Shares will be reserved for awards to employees of the Group Companies (the “ESOP Plan”). The ESOP Plan (including 4-year vesting schedule for awards issued thereunder) shall be adopted and, if applicable, amended in accordance with Section 3.3. The Company may not reserve any additional Shares for the ESOP Plans (except the reservation of Shares under the 2019 ESOP Plan) without the prior approval of (i) holders of at least two thirds (2/3) of the Preferred Shares held by the Investors if more than 20,160,773 Ordinary Shares under the 2019 ESOP Plan have been awarded to Mr. HE Xiaopeng, or (ii) otherwise, the Majority Preferred Holders.
Sample 1
ESOP Plan. (i) The Company has reserved 500,000,000 Class A Ordinary Shares (the “ESOP Shares”) for the management incentive plan of the Company (“Management Incentive Plan”) to be approved at the general meeting of the Company. All Parties agree to vote or ensure their respective Affiliates to vote in favour of the adoption and implementation of the Management Incentive Plan at the relevant general meeting(s); provided, that the Management Incentive Plan shall be subject to the following: (a) the Management Incentive Plan shall be formulated by the Company based on good faith, market practice and the actual status of the Company; and (b) the ESOP Shares shall be granted in installment to the relevant management personnel as stipulated in Management Incentive Plan within three (3) years after January 23, 2019. After the expiration of the three (3) years from the approval of the Management Incentive Plan by the general meeting, subject to the business development status of the Company as determined by the Board, the Parties agree to approve or ensure their respective Affiliates approve the increase of the management option shares by a total number of 300,000,000 Class A Ordinary Shares (the “Additional ESOP Shares”). The Parties confirm that Xxxx Xxxxxx and Xxxxx Xxxxxxxx will not receive or be awarded any ESOP Shares or Additional ESOP Shares before the completion of the Qualified IPO of the Company unless otherwise approved by both Xxxxxxxxx and the holders of more than 50% of the outstanding Class B Ordinary Shares.
Sample 1
ESOP Plan. The Parties hereby agree and confirm that, as of the date hereof, the total number of Ordinary Shares authorized and reserved for issuance to officers, directors, employees, consultants or service providers of the Group Companies pursuant to the ESOP shall be 4,987,882 Ordinary Shares (as adjusted in connection with share splits or share consolidation, reclassification or other similar event).
Sample 1
ESOP Plan. The Parties acknowledge that (i) 1,525,679,641 Class A Ordinary Shares have been reserved under the ESOP Plan existing on the date hereof and agree that any Equity Securities that have been repurchased by the Company from time to time in accordance with the Minutes of an Extraordinary General Meeting of the Company passed on September 10, 2019 shall be re-designated as Class A Ordinary Shares and be reserved for issuance under the ESOP Plan upon their repurchase by the Company from time to time; (ii) 1,017,523,059 Class A Ordinary Shares of the Company held by certain beneficiaries of Core Trust Company Limited have been exercised pursuant to the ESOP Plan, and MASTER QUALITY GROUP LIMITED is registered as the holder of such 1,017,523,059 Class A Ordinary Shares of the Company.
Sample 1
ESOP Plan. The provisions of this Plan applicable to accounts of Participants invested in the Vulcan ESOP Fund.
Sample 1
AutoNDA by SimpleDocs
ESOP Plan. The Company has reserved up to 130,000,000 Ordinary Shares representing up to 10% of the total issued and outstanding share capital of the Company for issuance to the Key Employees and officers of the Company pursuant to ESOP. Each of the Company and the Founder undertakes to each Investors that, immediately prior to the consummation of a Qualified IPO, the Ordinary Shares subject to the options which may be granted to the Key Employees and officers shall not exceed three percent (3%) of the total amount of the Ordinary Shares reserved under the ESOP; notwithstanding the above, if recommended by the Company and approved by each of the Investors, the Company may grant additional options representing up to one percent (1%) of the total amount of the Ordinary Shares reserved under the ESOP prior to Qualified IPO.
Sample 1

Related to ESOP Plan

  • ESOP “ESOP” shall mean an employee stock ownership plan sponsored by First Federal and that will buy SHC Common Stock in the Reorganization.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • Plan B The Trustees are directed to modify Plan B in a similar manner and with similar effect as in Plan A. In addition, the existing provisions governing the operation of Plan B shall continue as follows:

  • Dental Plan (a) The Employer shall pay the monthly premium for employees entitled to coverage under a mutually acceptable plan which provides:

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

Time is Money Join Law Insider Premium to draft better contracts faster.