Initial Grant Sample Clauses
The Initial Grant clause defines the rights or permissions that are first provided by one party to another under an agreement, typically relating to the use of intellectual property, technology, or other assets. This clause specifies the scope, duration, and limitations of the rights granted, such as whether the license is exclusive or non-exclusive, the territories covered, and any restrictions on use. By clearly outlining what is being granted and under what conditions, the clause ensures both parties understand their rights and obligations from the outset, thereby reducing the risk of disputes over the use or ownership of the granted assets.
POPULAR SAMPLE Copied 1 times
Initial Grant. On the Commencement Date, in consideration of the Executive’s entering into this Agreement and as an inducement to join the Company, the Executive shall be granted, under the Dynegy Inc. 2012 Long Term Incentive Plan, as amended or modified from time to time (the “LTIP”) an award in the amount of $2,200,000 to be converted on the Commencement Date in the following percentages: (A) 50% as Restricted Stock Units (“RSU”); (B) 25% in the form of a non-qualified stock option to purchase shares of Dynegy’s common stock (the “Option”); and (C) 25% in the form of a performance-based stock award. The number of shares granted for the Option shall be determined by dividing 25% of $2,200,000 by the Black-Scholes value of Dynegy’s common stock as of the Commencement Date, and the exercise price for the Option will be the fair market value (as defined in the LTIP) of Dynegy’s common stock as of the Commencement Date. The number of shares granted for the RSU will be determined as of the Commencement Date by dividing 50% of $2,200,000 by the fair market value (as defined in the LTIP) of Dynegy’s common stock on that date. The number of shares or units granted and the performance criteria for the performance-based award constituting the remaining 25% of the Initial Grant will be determined by the Compensation Committee of the Board and will be made at the same time (or, if later, on the Commencement Date) and in the same form as received by employees at Vice-President and above as part of the 2013 Long-Term Incentive grant. Each award shall be governed by the LTIP’s terms and the terms of a separate stock option award agreement, restricted stock unit award agreement and performance award agreement between the Executive and the Company and/or Dynegy. Provided the Executive remains in active working status at such time, the Option and RSU shall become vested, and the Option shall become exercisable, in equal installments on the 2014, 2015, and 2016 anniversaries of the Commencement Date and the Performance Award shall become vested in full at the end of the three year performance period; provided, however, that if a Change in Control (as defined in the Dynegy Inc. Executive Change in Control Severance Plan (the “Change in Control Plan”)) occurs or if the Executive has an Involuntary Termination (as defined in the Dynegy Inc. Executive Severance Pay Plan (the “Severance Plan”), the Option and RSU shall immediately vest in full, and the Option shall thereafter be exercisable i...
Initial Grant. Upon commencement of the Term, the Executive will be granted (the “Initial Grant”) stock options (which shall be incentive stock options within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”) to the extent permitted by applicable tax rules) to purchase 7,411 shares of common stock of the Company. The exercise price shall be equal to $203.83 per share, the fair market value per share of the Company’s common stock as of the date of the Initial Grant. The Initial Grant shall be made pursuant to the terms of the form of option agreement attached as an Exhibit hereto.
Initial Grant. As soon as practicable after the effective date of this Agreement and subject to Board and all other required approvals, the Company shall grant to the Executive under the Company’s Amended and Restated 2003 Stock Incentive Plan (the “Plan”) a non-qualified stock option to purchase a number of shares of the common stock of the Company equal to 5.15% of the Company’s fully-diluted common stock (excluding the effects of any conversion of the (i) debt issued in connection with the Initial Financing, (ii) the investor convertible subordinated debt issued in January 2014 or (iii) any other convertible debt that is issued prior to the thirty-six (36) month anniversary of the Effective Date) with a per share exercise price equal to the fair market value of the Company’s common stock (as determined by the Board pursuant to the Plan) at the time of grant. The Initial Grant shall be granted pursuant to and governed by the terms of a stock option award agreement in a form provided by the Company at the time of grant; provided, however, that the form shall provide for cashless exercise of the option in an amount sufficient to satisfy the option exercise price. Provided the Executive remains continuously and actively employed with the Company through the applicable vesting date, the Initial Grant will be vested and exercisable with respect to (i) 10% of the underlying common stock as of the Effective Date, (ii) 25% of the underlying common stock on the first (1st) anniversary of the Effective Date, and (iii) the remaining shares of underlying common stock in substantially equal monthly installments over the 36-month period that commences on the first (1st) anniversary of the Effective Date. Notwithstanding the foregoing, the Initial Grant shall be fully vested and exercisable immediately prior to, but contingent upon, the occurrence of a Change in Control (as defined above), provided the Executive remains continuously and actively employed with the Company through the date of such Change in Control. Executive’s Initials & Date
Initial Grant. Following the execution of this Agreement, the Executive shall be granted 500,000 options to acquire common shares in the capital of the Parent, with the price and terms of such options to be established by the Board of Directors of the Parent in accordance with the Parent's stock option plan.
Initial Grant. As soon as practicable after the Effective Date, the Company will grant to Executive restricted stock units (“RSUs”) under the Company’s Incentive Plan. The number of RSUs will be the quotient of (a) six (6) times Executive’s Base Salary, divided by (b) the closing price of the Company’s common stock on the Effective Date (or, if the Effective Date is not a trading day, the last preceding trading day), rounded down to the nearest whole share. The RSUs will vest as to one-third (1/3) of the RSUs on each of the first, second and third anniversaries of the date of grant, in each case subject to Executive’s continued employment through the applicable vesting date. Except as expressly provided in this Agreement, the RSUs will otherwise be governed by the Incentive Plan and the applicable award agreement.
Initial Grant. Executive is hereby awarded an option to acquire 3,000,000 shares of the Company’s common stock or their equivalent, $0.001 par value, at the exercise price equal to the average of the closing prices of the shares for the ten (10) trading days prior to the Effective Date. The Effective Date shall be the date upon which this Executive Employment Agreement has been fully executed and delivered by both Executive and Company. The option shall vest as follows: 750,000 12/16/2022 12/16/2021 750,000 12/16/2023 12/16/2021 750,000 12/16/2024 12/16/2021 750,000 12/16/2025 12/16/2021
Initial Grant. Pursuant to the Amended and Restated NorthPoint ------------- Communications Group, Inc. 1999 Stock Option Plan (the "Option Plan"), Executive received a grant of stock options on June 29, 1999 (the "Initial Grant"). The Option Agreement between the Company and Executive Agreement that underlies the Initial Grant (the "Option Agreement") is attached hereto as Exhibit A. ---------
Initial Grant. COMPANY shall issue to ▇▇▇▇▇▇▇▇▇ a total of [***] shares of Common Stock of COMPANY, $0.001 par value per share, (the “Shares”) in the name of ▇▇▇▇▇▇▇▇▇, which shares represent the equivalent to [***] of the capitalization of COMPANY on a Fully-Diluted Basis (as defined below), after giving effect to the sale of [***] in COMPANY equity, subject to ▇▇▇▇▇▇▇▇▇ and, to the extent ▇▇▇▇▇▇▇▇▇ has transferred such Shares, any of its transferees (the “▇▇▇▇▇▇▇▇▇ Holders”) entering into a representation letter in substantially the form attached hereto as Appendix C with respect to such issuance of shares to ▇▇▇▇▇▇▇▇▇ and the ▇▇▇▇▇▇▇▇▇ Holders.
Initial Grant. Employer hereby grants to Employee 10,000 shares of Restricted Stock in accordance with the terms and conditions of Employer’s Long Term Incentive Plan and pursuant to the Restricted Stock Agreement attached hereto as Exhibit “A,” which is incorporated by reference as if set forth fully herein (the “Restricted Stock Agreement”). Such shares of Restricted Stock shall vest as follows: (i) forty percent (40%) of the shares (or units) shall vest on January 1, 2012; (ii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2013; (iii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2014; and (iv) twenty percent (20%) of the shares (or units) shall vest on January 1, 2015.
Initial Grant. COMPANY shall issue a total of [***] shares (the “Shares”) of Common Stock of COMPANY, $0.0001 par value per share (“Common Stock”), to M.I.T. and those individuals listed on Appendix C (the “M.I.T. Holders”), ▇▇▇▇▇▇▇ and ▇▇▇▇, in the amounts specified in Appendix C; provided, however, that each of M.I.T., ▇▇▇▇▇▇▇ and GIST and each M.I.T. Holder (collectively, the “Shareholders” and individually, each a “Shareholder”), shall execute (I) an investment letter in a form mutually agreeable to M.I.T. and COMPANY; and (II) a First Amendment to Right of First Refusal and Co-Sale Agreement in the form attached hereto as Exhibit C (the “ROFR and Co-Sale Agreement”). Such issuance shall be recorded on the Stock Transfer Ledger of COMPANY on the EFFECTIVE DATE and the Shares shall be delivered to each Shareholder within thirty (30) days after the EFFECTIVE DATE. COMPANY agrees that the joinder agreement that binds ▇▇▇▇▇▇▇ to the ROFR and Co-Sale Agreement shall provide that ▇▇▇▇▇▇▇ shall not be bound by Section 7 (Co-Sale) thereof.