ESOP Plan Sample Clauses
An ESOP (Employee Stock Ownership Plan) clause establishes the framework for granting company shares to employees, typically as part of their compensation or incentive package. This clause outlines eligibility criteria, vesting schedules, and the process by which employees can acquire or exercise their rights to company stock. By providing employees with an ownership stake, the ESOP clause aims to align employee interests with company performance and incentivize long-term commitment, while also serving as a tool for employee retention and motivation.
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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).
ESOP Plan. The provisions of this Plan applicable to accounts of Participants invested in the Vulcan ESOP Fund.
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.
ESOP Plan. The Company shall have adopted an ESOP in the form and substance reasonably satisfactory to the Investor.
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.
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.
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 ▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇▇▇ and the holders of more than 50% of the outstanding Class B Ordinary Shares.
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.