Initial Award. Subject to the Board's adoption of the Plan, which shall be substantially similar to Draft Stock Incentive Plan that is attached hereto as Schedule C, the Executive shall be eligible to participate in the Plan. Conditioned upon the Board's approval and in accordance with the terms and conditions of the Plan, effective on the Commencement Date the Executive shall be granted an Option(s) to purchase a number of shares of Elastic common stock that is equal to One Percent (1%) of the sum of the number of shares of Elastic common and preferred stock issued and outstanding on the grant date plus the number of shares of Elastic common stock authorized for grant under the Plan, with an exercise price to be determined by the Board. The vesting, rights and obligations with respect to such Option(s) shall be determined by the Board in accordance with the Plan and shall be set forth in appropriate option agreements which shall be substantially similar to the Draft Incentive Stock Option Agreement and Draft NonStatutory Stock Option Agreement attached hereto as Schedules D and E, respectively. Notwithstanding anything in the preceding sentence to the contrary, the outstanding Option(s) granted to the Executive pursuant to this Section 5(a) shall (i) upon the occurence of an Acquisition Event, be assumed or an equivalent option or award substituted by the successor corporation or a parent or subsidiary of the successor corporation, provided that any such Options substituted for Incentive Stock Options shall satisfy, in the determination of the Board, the requirements of Section 424(a) of the Code, unless the successor corporation refuses to assume or substitute for the Options(s), in which case the Executive shall have the right to exercise the Option(s) in full, including with respect to shares of Common Stock as to which it would not otherwise be exercisable, and such Options(s) shall be exercisable for a period of not less than forty-five (45) days from the date on which the Board gives the executive written notice that such Option(s) are fully exercisable and shall terminate upon the expiration of such period; and (ii) upon Elastic's termination of the Executive's employment without Cause, as provided in Section 8(a)(2) hereof, or the Executive's termination of his employment for Good Reason, as provided in Section 8(b)(2) hereof, be immediately exercisable in full.
Initial Award. Vacation periods will be awarded on the basis of valid bids and published. NOTE: Cabin Personnel who fail to bid or submit invalid bids in the initial bid will not be assigned to any vacancies but will be required to bid for their total entitlement in the second bid.
Initial Award. Upon the Effective Date or within 15 days thereafter, the Company shall grant the Executive options to purchase 6,250,000 shares of Common Stock the granted options shall have an exercise price equal to the fair market value of the Common Stock on the date of grant. The granted options shall be subject to a four -year vesting schedule with 20% to vest upon the grant date, and the balance to grant ratably on an annual basis for the next 4 years. Treatment upon termination of employment Death or Disability Granted awards shall continue and vest for 12 months following the death or disability date. Awards set to vest therein are awarded. Awards set to vest thereafter are cancelled. Vested options exercisable for the full ten year term. Voluntary quit Granted unvested awards cancelled. Yet to be granted awards cancelled. Vested options exercisable for the full ten year term. Termination for Cause Granted unvested awards cancelled. Yet to be granted awards cancelled. Vested options exercisable for the full ten year term. Termination without Cause/ Quit for Good Reason Granted unvested awards cancelled. Yet to be granted awards cancelled. Vested options exercisable for the full ten year term. The terms of any award under this section shall be more fully set forth in an award agreement. It is expressly acknowledged and agreed that this Exhibit A is a summary of the contemplated terms of the award agreements. PETRO RIVER OIL CORP.
Initial Award. A restricted stock unit (“RSU”) award in respect of a number of shares of common stock of the Company having a fair value of $600,000 as calculated using the Company’s closing share price on the date of grant (the “Initial Award”). Fifty percent (50%) of the Initial Award of RSUs will vest subject to the Executive’s continued provision of services to the Company as further detailed below (the “Time-Based RSUs”) and fifty percent (50%) of the Initial Award of RSUs will vest subject to the attainment of certain performance based metrics established by the Compensation Committee of the Board (the “Performance-Based RSUs”). Subject to Executive’s continued provision of services to the Company through the applicable vesting dates, the Initial Award of Time-Based RSUs shall vest as follows: vest in accordance with the following schedule, as described in the applicable restricted stock unit agreement: 33% will vest on May 1, 2022 (the “Cliff Date”) and the remaining 66% will vest in equal quarterly installments on each August 1st, November 1st, February 1st and May 1st over the two years following the Cliff Date, such that the Time-Based RSUs will be 100% vested on the second anniversary of the Cliff Date and in each case subject to the Executive’s continued services with the Company through each such applicable vesting date.
Initial Award. Without limiting Sections 2(c)(i) or 2(c)(ii) above, the Company will recommend to the FGS board of directors that Executive receive a stock option award to purchase shares of common stock of FGS, at an exercise price determined by the FGS board of directors in accordance with the requirements of the Incentive Plan, for (A) common stock of FGS in an amount equal to 2% of the total number of shares initially available under the Plan, to be initially vested and exercisable upon grant, and (B) common stock of FGS in an amount equal to 8% of the total number of shares initially available under the Plan, to vest and become exercisable over a four (4)-year period with 25% vesting on each anniversary of the IPO (defined below) subject to Executive’s continuous service through the applicable anniversary.
Initial Award. Subject to Board approval, Executive shall receive the long-term incentive award set out in Exhibit A hereto.
Initial Award. Employee shall be entitled to receive an award of 12,000 shares of performance-based restricted stock under and subject to the terms and conditions of the TXU Long-Term Incentive Compensation Plan ("LTICP") . Such award shall be made as soon as reasonably practical following Employee's commencement of employment hereunder, and shall be subject to terms, conditions and restrictions comparable to those contained in performance-based awards granted under the LTICP to officers of similar status as Employee at the May 2000 meeting of the Organization and Compensation Committee of the Board of Directors of TXU Corp.
Initial Award. The vested amounts credited to the Executive’s Stock Unit Account in respect of the Initial Award shall be distributed to the Executive (or, in the event of his death, the Executive’s Beneficiary) upon or as soon as administratively practical after the first to occur of: (1) December 31, 2008, (2) the Executive’s termination of employment with the Company and its Subsidiaries (including, without limitation, by reason of his death), (3) the Executive’s Disability or (4) a Change in Control Event. Notwithstanding the foregoing, if the Executive’s employment terminates for any reason other than due to the Executive’s death or Disability and the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code and the regulations and guidance promulgated there under, then the distribution of the Executive’s benefit shall not be made earlier than the date which is six (6) months after the termination of the Executive’s employment with the Company and its Subsidiaries (or, if earlier, the date of the Executive’s death).
Initial Award. Employee will be eligible to receive 791 843 shares of the common stock of the Company (“Initial Award”), subject to the terms as set forth in the Company’s 2018 Equity Incentive Plan as well as Employee’s execution of the Viracyte Inc. Restricted Stock Agreement (the “RSA”).
Initial Award. The grievant is a Supply Technician, GS-6-2005, assigned to the Agency-Wide Shared Services Facility in Florence, Kentucky. The Union filed a grievance claiming that, since August 29, 2000, the grievant has Should the [A]rbitrator find this grievance arbitra- ble, the issue to be decided is: did the grievant perform higher graded duties for 25% or more of his direct time during the grievance period beginning August 29, 2000, as defined by SPD [Standard Position Description] No. 91784N, GS-2005-7, and if so, what is the appropriate remedy? Id. The Arbitrator also noted that the parties had agreed to several stipulations.
