Performance-Based Equity Incentive Grants Sample Clauses

Performance-Based Equity Incentive Grants. Subject to the Executive meeting the specified criteria below, the Executive shall be entitled to a grant of up to 200,000 restricted stock units (“RSUs”) as follows: (i) 100,000 RSUs vesting upon (a) the closing of an exclusive license deal for one or more Company pipeline programs and/or research, development and commercialization of a collaboration deal with a Validating Industry Partner (defined herein as a Top 25 pharma company by revenue, a top 15 pharma or biotech company by CNS product revenue, a biotech company with a market cap in excess of $20 billion, or a company that does not meet the specified criteria but provides comparable validation of the partnered programs or drug discovery platform as determined in the discretion of the Board), and (b) a resulting extension of the Company’s cash runway by one (1) year or more with one or more transactions; and/or (ii) 100,000 RSUs upon the Company’s initiation (patient first dosing) in a phase 1B clinical study conducted in the United States or any clinical efficacy study dosing under a United States Food & Drug Administration Investigational New Drug Application (Commercial IND). The Compensation Committee of the Board shall be responsible for verification and confirmation of the achievement of the specified criteria in (i) and (ii).
Sample 1Sample 2
AutoNDA by SimpleDocs
Performance-Based Equity Incentive Grants. In addition to the amounts payable above, Executive shall be eligible to receive an annual equity grant (the “Equity Grant”) under the 2009 Equity Incentive Plan (the “Equity Incentive Plan”) for the 2009 performance year. The amount of such Equity Grant shall be determined in accordance with the terms of the Equity Incentive Plan and shall be dependent upon (a) the Executive attaining his MJOs and otherwise satisfying all other applicable condition of the Equity Incentive Plan, and (b) the Company meeting its financial goals. The target amount of the value of the Equity Grant for the 2009 performance year is four hundred thousand, and no/100ths ($400,000.00) dollars, with any adjustment thereto as may be necessary to be consistent with the treatment of other executive officers under the Equity Incentive Plan as determined by the Compensation Committee in its sole discretion. The Equity Grant may be provided to Executive in the form of options to purchase shares of the Company’s common stock (the “Options”), or in the form of Restricted Stock Grants (“RSGs”), or some combination thereof with such terms, including with respect to vesting and exercise price, as the Compensation Committee so determines. Executive shall not be entitled to receive an Equity Grant for the 2010 performance year. In lieu thereof, Executive shall receive a Special Equity Grant on the Effective Date with a value of four hundred thousand, and no/100ths ($400,000.00) dollars. The Compensation Committee shall determine the allocation of the value of the Special Equity Grant between Options and RSGs; provided, however, that no less than fifty-percent of the value shall be in the form of RSGs.
Sample 1

Related to Performance-Based Equity Incentive Grants

  • Equity-Based Awards For each calendar year during the Term, the Executive shall be eligible to participate in and receive equity-based awards under the Company’s 2014 Stock Incentive Plan, and any and all successor or replacement plans as may be determined by the Board or the Committee (collectively, “Incentive Plan”).

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Equity Incentive Awards Executive shall be eligible to receive grants of equity-based long-term incentive awards, which may include options to purchase Company stock, performance or restricted stock units and Company restricted stock contributions to Company’s deferred compensation plan, or other equity-based awards. Such awards shall be determined in the discretion of the Board. In the event of a Change of Control (as defined in the Redwood Trust, Inc. Executive Deferred Compensation Plan) in which the surviving or acquiring corporation does not assume the Executive’s outstanding equity-related awards (including options and equity-based awards granted both before and after the Effective Date) or substitute similar equity-related awards, such equity-related awards shall immediately vest and become exercisable if the Executive’s service with the Company has not terminated before the effective date of the Change of Control; provided, however, that the foregoing provision shall only apply if the Company is not the surviving corporation or if shares of the Company’s common stock are converted into or exchanged for other securities or cash.

  • Performance Based Compensation During the Period of Employment and assuming Executive remains continuously employed by the Company through the end of the relevant fiscal year, Executive shall also be entitled to participate in an annual performance-based cash bonus program as set forth in Exhibit B.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Equity-Based Compensation The Executive shall retain all rights to any equity-based compensation awards to the extent set forth in the applicable plan and/or award agreement.

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